ice1874193

hsbc online accounts range from 4 - 5.5% (fluctuates w/ the market). if you want a safe place to earn interest that is a great option

Stellar24

iTrader: (6)

I want to emphasize on this a little more because I did A LOT of research on this before I bought my car. The 0% financing is the reason I pulled the trigger on the Evo X.

I wont get into the math too much but here is your scenario. If you put your $10000 down then that goes into your inital price and as soon as you drive it off the lot you will lose more than half of that from depreciation alone. Now, on the other route, you take your $10000 and put in a savings account that makes 3% a year (compounded monthly). You set up your account to withdraw $166 each month (the difference in the monthly payments if you put the $10000 down) and put it into the checking account you use to pay your bill. At the end of 60 months (5 years) your savings account will still have $1048. Therefore, you have actually profited over $1000 over the loan period. Now the actual total you paid on the car is $33,400 instead of $34,400.

Another benifit to keeping the $10000 is that you are still in charge of the cash. If you have a crisis or something and you need the money, you have it.

The final point is the GAP insurance. If you dont know what it is, read up on it. In simple form, it is insurance to protect you if your car was to be totaled. If your car is totaled the insurance company (no matter who is at fault) will only pay you the current value of the car. If you owe more than it is worth (often the case when you finance the entire car) then the GAP insurance will pay off the remaider of your loan, including your deductable on your insurance, so no money out of your pocket. Here is a quick example. You buy the car at $34000 and put $10000 down you still owe $24000. The car then gets totaled and your car is only worth $24000 to the insurance company then you are out your $10000 down payment. Now if you finance the whole thing and keep your $10000, and your car is totaled, the insurance will pay $24000 and GAP will pay the remaining $10000. You walk away with your $10000.

Sorry again for the lenght.... I just did alot of research on this once I heard about the 0% financing offer.

Jan

Im curious what people have payed for recently in canada. I know we get screwed but Im going to be going to the dealership either tonight or tomorrow to get a new quote and see whats up. I want to know what I have to work with


Thanks

Methodical4u

iTrader: (9)

is mitsu offering 0% right now?

nevermind I see it is... or 4.9 for 72 months

Jan

If anyone could give me some info before about 11 am EST it would be great, lol. Going to the dealer around that time. If not, well Ill just post up what I was offered to answer my own question.

WaitForIt

I am trying to haggle with a dealership to get a X GSR with SSS and Aero. Is shooting for around 33,500 BEFORE TTL on the east coast a decent/reasonable deal? What are your opinions on the highest I should pay for one?

beetle_orange

iTrader: (58)

^very doable.

WaitForIt

well i will let everyone know how it goes tomorrow after i visit the dealership. wish me luck.

aftershock141

iTrader: (9)

That looks alright.

ice1874193

if your looking for a deal stop at a dealership in albany ny. they still have 1 hail damaged red GSR w/ SSS and aero. all you have to do is replace the hood. you can prob. get it for under 30k! i got mine w/ trade-in for roughly 23500 w/ a car that was only worth 4 or 5k in KBB and i got a free tomtom and painted rims. not sure if they still have the 0% though. also reference your looking at the subie dealer down the road that has 7k off + 0% on '08 sti's

Ask for Josh - tell him mike sent you!

Jan

Ok so I went to the dealer yesterday and I was offered a GSR with no options (no navie, small wing (bleh, I want the big wing) etc for 40,500$ + tax. This is with the 3 months no payments and 1000$ Best buy gift certificate which I will trade to my family for 1000Cash. Still have to work out the finacing itself but is that a good price ( Canada ) or should I aim for lower?

EDIT:
Im thinking of taking the 7 year financing with 3k down to bring me to 600 per month, since its an open finance I will be able to pay it off WAY sooner and this way I get the comfort of lower payments.

WaitForIt

Well, I did it, looks like I'm picking her up wednesday! I can't believe it... I talked the dealer down from 34800 to 34000 works out to be 1200 under invoice. Overall I'm extremely excited and happy with the deal at 0%. Pics will be up in new post next week.

WaitForIt

oh and i saw the deals on the hail damaged ones but i would rather not deal with the hassle.

ice1874193

yea i figured thats why noone was buying them - but for a few dings in a hood i can replace i saved 11k off sticker. new hood is maybe 600 and the car only had 18 miles on it

heres my hood if anyone else is interested in what the red one looks like...

pltek

iTrader: (33)

but who. michaud, walpole, etc?