To start out, on Monday I took my OZ to the dealer to get the heater fixed. After a couple of hours of diagnosis, I called them and asked how much it would cost.
Heater box= $700 parts and labor.

F U. I went and picked up my car.

So, I come home, jump online, and start looking for an Evo. I found an '05 Evo 8 w/ SSL and 17,000 miles. $25,980. Its about $4000 below Blue Book.

So, I drove 1.5 hours away and took it for a test drive and started the paperwork on it.

Here's where it gets interesting. I owe about $10,000 for my car. Trade-in is only $7500. They'll give me $6500 for it. Which I'm ok with because it does need some work. (heater box, struts, timing belt, clutch)

We got the price for the Evo at $25800 plus the $4000 difference in my car plus tax, which brings it a little over $30,000 that I'm going to finance. I'm not putting on a down payment.

The salesman calls me today to say they can't finance me alone. So, tomorrow, my mom is going to fax in her credit app. to see if they'll finance a co-signer. Which is fine because she co-signed on the OZ.

This is probably a dumb decision on my part, but I don't care. I'm 20 years old. I still live with my parents. I have a good job with some good work history behind me there. Hell, I got 2 promotions and 2 raises this year.

Hell with it. I might as well do it while I'm young, still at home, not married with no kids.

Here's the car.
http://www.cars.com/go/search/detail...115&aff=rrstar

So, besides me getting screwed a little bit, how are the prices of the Evo itself and of what they'll give me for trade-in given the problems it has?

Sorry this is so long.

Tyler

EDIT: The only mods that I see or hear are a TurboSmart boost controller and possibly a drop-in filter but I'm not sure. I didn't look.

Link to boost controller:http://www.lancershop.com/customer/p...0&cat=4&page=1

 

If you can afford it, then more power to you. But I personally think you may be rushing it a little to quick. If you just took in the OZ Monday and just now started actively looking for an Evo, I would give it a little more time before I jump into something like that. I was actively searching for almost a month, before I came across an amazingly badass deal. But like I said, if you can afford it and have your heart set on that specific Evo, then do it.

 

+1. I'm only 20 years old and somehow i afford mine. I got mine when i was 19 but that's only because i've been working since i was 12. lol. Like Pers said, i would look around a little more unless you absolutely fell in love with that one. Dont get me wrong that is a very nice evo, but i waited a while and i'm glad i did because i found a killer deal on mine that i have.

 

Try to get $500 more for the trade in. Yea sure it'll take $700 to get the heater fixed, but they can get parts cheaper than what they're selling it to you for. Go for it if you can really afford it. Those seats look like they're in really good condition, but blah on those cheap tires. Throw those out and get a decent set once the car becomes yours.

 

Payments are going to be alot...especially If you are not going to put anything down!

 

so u got the car ??

 

Payments are definatley going to be high but if you can take them on, go for it

 

I hate to be the dick around here, but don't get the car. You live at home, rely on your parents to cosign, and are about to finance $30,000 for a used car that is probably going to drop in value just as fast as your OZ did.

Buy something cheaper, <$10k, that will be reliable and start taking care of yourself.

I would LOVE to have an EVO but instead bought a used Lancer ES for $8100 (in 2003). It gets me everywhere I need to go and let me afford to buy a house. It sucks not having a bad *** car now but is worth it.

 

I wouldn't do it. You will be upside down with a 30k note. Buy something practical and save some cash and put down a downpayment. My 2 cents...

 

yummy yummy...... do it!!!!!!!!!

 

Why take the car to a dealer for repair in the first place? Go to a local shop that has a good rep and have them give you an estimate.

Just curious but what kind of rate did they give on the loan for the evo? Sounds to me that you can't afford the evo at this point. What are you going to do when something breaks on it and needs to be replaced or repaired like a clutch, get another loan?

 

The value of the EVO will NOT drop dramatically, especially like almost every other car around.

I got my EVO when I was 21 and I still live at home. I financed 32k on my car and the payments are high but I can afford it.

Should you get the car from a monetary standpoint? No. I should be driving a 10k car but guess what? I love my car and it makes me happy as hell. After work I get excited just looking at it. Then I have a great time driving it home and playing with it on the weekends. My car is my hobby, therefore its worth that extra money to me.

If I were to buy a 35k mercedes to drive from A to B... thatd be a waste, but since I drive my car for fun and enjoy the hell out of it, go to the track, events yada, its worth it.

YOU ONLY LIVE ONCE.

 

find a less expensive evo. for best results in a year and a half from now get an +-04 with +-30k miles. Prob will save you 10k and will not depreciate as badly.

 

Why not try for an evo ix rs??? I know some1 who bought an 05 ssl for 25k 11k miles everything seemed good. 2 days later transfer case went out. I myself would be very cautious about a used evo or fast car. You never know what the other owner habits were. Myself i got a 05 last year front the dealer righ now it has 7k miles never launched or any type of race. I know however if i sell it i will be in the category of fast car and no1 will believe its babies hehe. Gl if u do decide 2 buy it, i just would hate for it to give u problem after and the dealer turn around and slap u w a this is not going 2 be covered...

 

Yeah I'm going to try to get more out of my trade-in. I know those tires suck. I do have some money put away for a rainey day.