0% FAQ (Let's Get This S**T Stright)
 

This is too all the customers looking for 0% financing for EVO's :confused:

#1 0% is for qualified customers only

That means over three years on the bureau more than 5 revoling accounts and at least one $10,000 account paid off. And your credit score has to be 700 and over. Just because your credit union will approve you because you have been a member since you were born, does not mean MMCA will. If you are under a 700 credit score you will need money down to have a minuscule chase of getting 0% APR. :crap:

#2 Mitsubishi does not like to finance negative equity.

That means if you're upside down in your trade you will need money down regardless of your credit score. Mitsubishi will only finance 130% over invoice before TTL even if you have perfect credit Period.
This leads me to my next topic....

...#3 Do not expect to get retail, wholesale, or even trade in Blue Book Value for your busted up, over moded, under tuned, slipping clutch, balding tire EVO.

It's not going to happen. You can get a lot more for your car privately sold. Most dealers will give you $18,000 to $20,000 for a 2003 Evo VIII with around 36,000 miles on it. You can sell your stock Evo privately and get around $21,000 to $23,000 depending on what state your in.

Many dealers are giving good prices on the Evo’s. Most dealers are selling them $500 to $1000 over invoice. If you guys need help getting a good deal give me a call. Regardless if your buying in another state or from another dealer. I will call the dealer where you want to purchase and try to work out the best deal for you. But please take in consideration to the topics discussed above. :mitsu: {thumbup} :beer:

I guess im ****ed! I was approved for 0% but im upside down 5k. I was offered 20k for my car with 28k miles on it.

That's not all entirely true. A lot of it depends how it's presented.

Oh, by the way, did anyone notice that 0% on Evos now applies to the 3rd tier? {thumbup} :D

You should be able to get approved depending on how much the dealer is trying to sell the car for

People with tier 3 can get 0% for 48 months and 1.9% for 60 months which is still a great deal

You can finance negative equity if they get creative. IE Raise the trade in value and raise the selling price of the car if MMCA does not want to see the negative number.

Well im looking for an 05 ssl in white, silver, or blue. Im trying to keep my payments around the same now. I tried already here in Fountain :mitsu: but i didnt like what i saw in the deal paper so i walked out..

This is the actual formula the bank uses

• Base advance is calculated as follows: Cash selling price (not including the sales tax) minus down payment divided by the Invoice Amount.
• MAX ADVANCE IS 130% OF INVOICE++++
o RATE DISCOUNTS/INCREMENTS ARE NOT APPLICABLE FOR SPECIAL DRP
• MAX BACK END CHARGES:
o TT&L (ACTUAL)
o EXTENDED SERVICE CONTRACT - $2,000 NEW AND $2,500 USED
o LA&H - $3,000 TOTAL
o DEALER INSTALLED VALUE ADDED OPTIONS (PLEASE SEE EQUIPMENT GUIDE)
o GAP $500 (WHERE AVAILABLE)

This is with tier 1 and 2 credit only

Invoice on a regular Evo VIII in $29,523 w/ SSL $32,250

They got kind of creative with my trade. I was about 4K upsidedown in mine, but they did fancy paperwork and showed it good. Of course, having close to an 800 credit score gives lenders a little comfort too.

I didn't have any trouble rolling negative into mine with no money down.

Also, if you do 1.9% financing, I was told they can give you an additional $2,000 rebate. That would put you in a good spot.

The have 2 White 2005 Evo with SSL at a very good dealership here in NC. They are very good dealership that wont play games. They are selling these two Evos at a very good deal. I would imagine invoice (with them keeping the $500 customer rebate) and will give you good trade on yours. They wont screw around with financing BS, they will give you what you qualify for without and games. The place is Mike Everett Mitus in Hickory NC.

Well have lunch. You can buy!!! :lol:

Brian

I went and checked things out as well. They can call ang get a Tier bump if your close. I was only ten points away from Tier 2. For the EVO tier 2 is 0% 60months. I was unable to get what I owed for my 04. They offered $21,000 and I still owe $22,000 also they were selling a WW w/SSL for $34,500. I also recieved $500 for loyility rebate. In the end they could not keep the payments the same so I walked out the door. If I could have gotten the car for just over invoice I would have done it. So I wasted 3 hours of my life in the dealership. At least I got to test drive it.

^ Maryland Waldorf area Near DC

Ill be more than happy to buy lunch as long as i can get out of my 03 into an 05 :D

If you pm me some details I can plug in the umber and find out where you stand

I would also add to this "FAQ" that there is a good chance that Mitsu will sell your debt to another financial institution. Just happened with me. I guess they are cash starved :(