Thank you. If I need any other personal, financial advise, I'll be sure to drop you a line.

Now please be sure to post on topic and vote in the poll while you're at it.

On another note:

Whomever voted "POOR - Keep shopping, you can do better.", please do share with us the price which you would consider good, and where we/I might find a new MR for that price.

 

First off, the $31k price is bull**** since they are obviously sticking it to you on your trade-in. Sounds like you have bought into it though and are ignoring the big picture.

Secondly, given your history of cars and how long you keep them, why would you waste money on an extended warranty?

And finally with regards to big picture, its time to get your finances straightened out. Just because you can get a loan on something doesn't make it a good deal nor a good idea. Continually digging yourself a deeper hole is not a sustainable plan -- and given the current state of the economy, now would be a really good time to have some money in the bank and not worry about $900 car payments on a car that you owe $15-20k more on than you could sell it for. Frankly, thats just plain stupid!

 

sabba im in the same boat as you,maybe worse,i trade cars like people change underwear,im paying $860 for 84 months on an mr.i still wish i had my evo8 though.i traded my evo9 in for my evo 10.i hated the evo9 with a passion.if i had the money i would trade the evo x mr in for evo8 again.if you like the evo x mr and can afford the car note get it.just make sure you wont regret it.

 

Wow!!!!

I am going on my 40th car in a 9 year period. And I am in no negative equity no money down on anything, the key is to try avoid buying new cars. And buy new-used. Aka like a 08 EVO X with 2k on it. Let someone else take the depreciation. Or just buy new cars on the cheap side that hold their value. I paid 20,900 for my brand new MS3, drove it a year and got 20,500 trade in.

900 for an MR? I was paying 899 for 911 C2. I know you don't want to hear our financial advice, but you really need to stop the bleeding.

The only car I lost money on was my 01 M3, bought it new. 9/11 happened economy went to hell, lost job, had to trade down lost over 10k. BUt got in a pretty bad car accident, and thank god for gap insurance. Free and clear.

I hate to see people trapped in a negative equity situation. The dealers only make it worse, way worse. Good luck to you in what ever decesion you make.

 

wow, that is an amazing deal. Jump on that quick!

 

After reading the details of the trade and financial gymnastics, i'd like to rescind my "buy-it-now" vote.

 

this guy speaks the truth.

while paying "31,600" for an MR is a great deal, you really need to focus on how ****ED your 10.20% APR is.

Let me guess, they got you in on the 4.9% financing and then told you that your credit wasnt good enough, but if they go through another bank they'll give you the car for a little bit cheaper?

Why is nobody addressing this point?

 

I vote its a bad deal and pass. 31k for an mr is great, but what you'll really end up paying is just plain ****ed up.

 

Well I am in financing and I will tell you look over the fine print my friend!!! I think you are getting a good deal for the price but not 17k on the flip. I understand you don't want financial advice but dude your getting raped on the trade. It is fine if you want to be upside down but they are putting a hatchet in you on this one.


Again I know you don't care but man, 17k is a lot to eat. you would be better off putting 10k down just to not pay the interest on, and if your credit is good 10% is super high. I am getting customers done on used cars like 06's for 8% or better.


STevo

 

I know that you said that you don't want financial advice, but the truth is YOU NEED IT! That is a horrible deal.

 

I agree with him. I am in the business and know how they are playing the figures.

 

Ever thought about leasing? And no i'm not a finacial advisor but I can see a trend developing.

 

I had a rather ellaborate response 95% written to address all the "financial advise" responses (as opposed to those addressing how good a price $31.6k is for a new X MR), then IE crashed and I lost 20 minutes worth of thoughts and my motivation. Damn IE!

So here's a more susinct version. I do appricate all the feedback. I do not care to hear anyone try to suggest that I'm spending my money poorly when they don't even remotely know what the bigger picture is. I have $900 to spend on my happiness and sanity. Whether it's a car payment, electronic goodies, strippers, my wife, etc... doesn't much matter. A few months ago it was a Kawi Ninja, last year it was my RC aircraft. It's budgeted and that's what matters.

My trade is an '08 WRX with 8k miles on it and here in AZ, $19.5k IS a fair (if not good) trade and I always look at NEW_CAR_COST - TRADE_IN_VALUE when looking at a purchase since one really means nothing without the other.

I've never really thought about doing a Lease, but since I'm not into modding anything except my stereo (which I can do w/o permanent changes), and I work from home so my miles stay low, a lease may be a good idea. Thanks for the suggestion.

Everyone happy now?

 

you're what's wrong with the economy

 

LOL. I am sure that was the peoples thoughts when they were buying houses with ARM's and no money down. Don't worry it is budgeted for it!

At least the housing market didn't crash.

You are right go for it! This is the best deal I have ever seen. And it makes perfect econimcal sense.