Financing difficulties
Evolving Member
Joined: Aug 2012
Posts: 172
Likes: 6
From: Phenix City AL
Newbie
Joined: Apr 2015
Posts: 32
Likes: 0
From: Columbus, OH
Same here
Interest would kill it!
I can most likely get a loan from PenFed for ~$23.5k for the $31k Evo that I am looking at for around 3%. On top of that they offer Gap Coverage of like $50k for $400. A local credit union offers to give 150% NADA value (in this case ~$31k) but their terms for title vs check transfer would most likely cause issues in my opinion - they want the title before I can even sign the paperwork for the loan
Last edited by BLACKzj52; Jul 15, 2016 at 03:34 PM.
Yes they really have gone up. Being in the market, I am convinced of this. Like I just mentioned, on here a clean Evo 9 with 91k miles sold for somewhere around $25k.. its hard for me to believe that and evo with just over a fourth of those miles is not worth another $6k. On top of that, there are TONS of clean Evo 9s at the $30k mark - I could copy/paste the better part of 25-30 links backing this up. Honestly, it's tougher to find anything with under 100k miles under $27k.
As far as a Z06 goes, dont get me wrong I love them - I have always liked Vettes. Hell my parents had a restored 77 when I was growing up. But I am looking at something for the purpose as both fun and a daily driver. A Vette can't pull winter duty, doesn't have 4 doors, and just overall isn't a practical DD. Again, I LOVE them (not as much as an Evo though) and always drool at the sound of a cammed LSx engine, especially when they bounce of the rev limiter .
As far as a Z06 goes, dont get me wrong I love them - I have always liked Vettes. Hell my parents had a restored 77 when I was growing up. But I am looking at something for the purpose as both fun and a daily driver. A Vette can't pull winter duty, doesn't have 4 doors, and just overall isn't a practical DD. Again, I LOVE them (not as much as an Evo though) and always drool at the sound of a cammed LSx engine, especially when they bounce of the rev limiter .
I was just trying to make a point that buying a used Evo for the same price when it was new is not worth it. My personal preference would be a Z06, and yes, it would be a second car. Your preference may be different. Honestly, as i've gotten older, I've grown tired of buying "used" cars and financing them. I tell myself everyday now... if I can't afford to buy it cash, I simply can't afford it. New cars don't matter since I lease and want a new car every 2-3 years. (my Evo X is a lease and yes, its stock) But, my "racecar" is old with no loan. I race it every other weekend and can enjoy it more without having to worry about a payment or it breaking and leaving me stranded. I also have more money for mods that way.
Newbie
Joined: Apr 2015
Posts: 32
Likes: 0
From: Columbus, OH
I was just trying to make a point that buying a used Evo for the same price when it was new is not worth it. My personal preference would be a Z06, and yes, it would be a second car. Your preference may be different. Honestly, as i've gotten older, I've grown tired of buying "used" cars and financing them. I tell myself everyday now... if I can't afford to buy it cash, I simply can't afford it. New cars don't matter since I lease and want a new car every 2-3 years. (my Evo X is a lease and yes, its stock) But, my "racecar" is old with no loan. I race it every other weekend and can enjoy it more without having to worry about a payment or it breaking and leaving me stranded. I also have more money for mods that way.
. On top of that, the only vehicles that I would consider buying new at the moment would be an Evo X, STI, or Camaro - all of which would cost me over $40k because I believe they don't lease vehicles in this kind of category (IE performance). I could be wrong about the leasing part but I know for a fact that Ford won't lease new Mustang GT's. On top of that, I want to be able to mod said vehicle however I want.
Originally Posted by BLACKzj52
I completely understand what you are saying. I also feel for the wanting a new car sentiment, as far as breaking down goes - hence why I am after an Evo with such low mileage. Unfortunately (well not really), I have wanted an 8/9 since 2004 when I first saw them (and obviously they don't make them anymore). I know that I will pay more for the 9 that I am looking at than what it cost brand new but take a second to search Ebay for Supras - that tends to make me feel a little better . On top of that, the only vehicles that I would consider buying new at the moment would be an Evo X, STI, or Camaro - all of which would cost me over $40k because I believe they don't lease vehicles in this kind of category (IE performance). I could be wrong about the leasing part but I know for a fact that Ford won't lease new Mustang GT's. On top of that, I want to be able to mod said vehicle however I want.
. On top of that, the only vehicles that I would consider buying new at the moment would be an Evo X, STI, or Camaro - all of which would cost me over $40k because I believe they don't lease vehicles in this kind of category (IE performance). I could be wrong about the leasing part but I know for a fact that Ford won't lease new Mustang GT's. On top of that, I want to be able to mod said vehicle however I want.
Newbie
Joined: Apr 2015
Posts: 32
Likes: 0
From: Columbus, OH
Long story short, I would only get an STI if I could not get an Evo for whatever reason. Don't get me wrong, I like them - I've just always liked Evos more. That and my best friend is dead set on an 04-07 STI in blue with gold rims (the classic STI look). And I've always been dead set on an 03-06 Evo in Rally Red with darker gunmetal rims 
People always pay lots for used cars. They finance them, too. No biggie. In the past 24 years, I've owned one new car. I didn't even like it but I wanted to try something new. Sold it and bought another used car LOL.
I like older cars, can't help it.
I like older cars, can't help it.
Long story short, I would only get an STI if I could not get an Evo for whatever reason. Don't get me wrong, I like them - I've just always liked Evos more. That and my best friend is dead set on an 04-07 STI in blue with gold rims (the classic STI look). And I've always been dead set on an 03-06 Evo in Rally Red with darker gunmetal rims
