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Dec 7, 2009 | 06:48 AM

#31

91TB78

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From: NOLA

The dilemma I have is that while 0% for 60 months makes sense, the total OTD price on a new base GSR is going to be around $32-34K with TTL. If you buy used you can probably find a car in the $24-28K range with only minimal miles and a savings of $6-8K dollars. No amount of 0% financing will ever cover that gap.

So, what does one do?

Dec 7, 2009 | 06:50 AM

#32

Malik_EvoIX

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From: Detroit Area

36 months is nothing these days...... back in april mitsu offered 0% for 60 months!!!

Dec 7, 2009 | 12:24 PM

#33

Evonobox

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Joined: Nov 2008

Posts: 14

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From: California

Quote:

Originally Posted by Malik_EvoIX

36 months is nothing these days...... back in april mitsu offered 0% for 60 months!!!

Slight different scenario as Mitsubishi had many 2008 Evo's left in April of 2009 while they are now offering 0% for 36 months for 2010 Evo's just 8 months later.

The 2 model year difference will come up upon resale later as the car is essentially 2 years older even though the ownership time difference between a 2008 and 2010 model is only 8 months.

Dec 7, 2009 | 02:51 PM

#34

WWIXMR

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Joined: Jul 2006

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From: Central Jersey

Mitsu, stop wasting your time on this 36-month crap. Work on a low APR for 60 months and I'll be like...

Last edited by WWIXMR; Dec 7, 2009 at 02:57 PM.

Dec 7, 2009 | 03:49 PM

#35

mathgeek

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Joined: Dec 2004

Posts: 660

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From: Fresno, CA

Quote:

Originally Posted by Evonobox

Eventually, it'll get there. Evo sales won't be bursting anytime soon and neither are Mitsubishi sales in general here in the states.

I am actually interested in 36 month loans right now because I've spent over 75% of my savings for the down payment to my house and I really just want to pay off the car as soon as I can to eliminate future financial burdens in 5 years. With 0%, it's a screaming deal (even better at 48 and 60) and like others pointed out - my savings will definitely earned more interest than that.

Keep in mind that you will be paying a higher purchase price for the car if you finance at 0% than if you just pay cash. That 0% loan has to be sold at below face value. If you buy the car for $32K at 0%, that loan will be sold for maybe $28K. If you paid cash, you could get the car at $28K. One way of the other,

has to make a minimum of $X on each Evo. So you really aren't saving as much as you think by financing at 0% instead of paying for it up front. Of course, it may be worth it to pay more over the life of the loan and have that cash available just in case.