So i got approved through my bank for an auto loan to get my first Evo X but i got less then what i asked for. I asked for $35k but was only approved for 25k. I was hoping to get a new Evo X for around 35k but looks like i am going to need to improvise. I am thinking of going through an auto broker and see if he/she can find me a good deal across the country for an X. So my problem is that i might have to settle for a used one, which is not all bad but i just hear from people that you want to try to avoid used Evo X's because you don't know what the previous owner had done with the car etc.

So i wanted to ask the local Evo guys here what you think. Do you think i can still find a fairly used Evo X for the amount i was approved for? If I have to settle for used what should i look for?

1. Mileage less than?

Or anything else you guys you recommend.

I will appreciate any feedback you guys can give.
Please N' Thank You

P.S.
Looking to get an MR

 

25k isnt alot to get even a used evo, and just look for something that has been stock the whole time with a clean title, mr are normally the most expensive evos you can buy, i highly doubt you will find an mr for less than 30k used, are you trading anything towards it or even a down payment?

 

No sadly, nothing of the sort. My bank did tell me if I do find one that is higher than the amount that they are approved me for they can re look at it but that is not guaranteed

 

I got one used from carmax. You get 3 days to return it. I had it inspected at awd motorsports and it was never modified and the ecu was never flashed. It had 10000 miles. If there was a problem I would have walked away from the deal. I got an mr. If you have money to put down you may be able to get one. If not a gsr should be doable.

 

ok well how is your credit? and always open your search up and be willing to drive to get the car you want, i searched a 500 mile radius for my evo, and i got the one i wanted for about 2k above what i wanted to pay for it, and i still havent found one that had everything i wanted as cheap as i got mine, so just know what you want and look for it i auto trader is the best place IMO

 

Yeah my credit is good. I have looked on auto trader and cars.com i found some cars i can probably work with. I was also thinking of getting an Auto Broker that can look more into this and probably find a good deal and also hopefully within what the bank has pre approved me for

 

work with the dealership, and they can normally bring the price down about 3k, just haggle the hell out of them, is there alot of evos where you live? i was very limited in my options, there were like 10 totally within like 100 miles and 20 within 500 miles

 

There is like 10 within 100 mile radius and about 40+ within a 500 mile radius. Did yiu get your evo used? any issues?

 

yeah i got it used, and no no issues, everything came stock, i checked all the screws and the title history and it was all clean,

 

I just bought mine about a month ago and it doesn't have any problems with it. It's an 08 Evo X GSR with 44,000 miles and I paid $22,991 before tt&l. The final purchase price was $25,000. It had a clean carfax, 2 owners, and just has eibach springs, intake, and upper and lower hard intercooler pipes. You can find a good used Evo X at a good price, it just takes a while. Just stay away from heavily modded ones, that's where you'll probably run in to problems. I was on autotrader, cars.com, and craigslist every day for about 3 months before I found what I was looking for. No need to rush if buying used. Make sure everything checks out. They're out there, just keep looking. Don't be scared, you can find a used X that someone hasn't trashed.

 

Your credit is good but you were only approved for $25k? My credit is pretty good but about 100 points away from perfect. But I had no problem get approved for mine that was $37k and I rolled over alot of negative equity and put $0 down.

I would say maybe you didn't get approved for as much because of income, but the last 3 cars I bought they did not care about my income. I did not have to verify any income. Just needed a signature.

Did you ask why they only approved you for such a low amount?

 

Well let me be clear my credit is not good, but my wife's on the other hand is good its a 680. Which is not bad i did ask them way i got approved for such a low rate (they will get back to me Monday) My job however is really good i make well over 55k a year and i am only 22 years old. Wife on the other hand does not have that great of a paying job.

So she has the credit i have the job. So i cannot understand why they gave me only 25k.... I mean right now we do have two cars on our record but planning on selling it when i get an evo x. It does however has some money left over on it... Maybe that is why they gave me the low approval. They even told me that our credit to debt ratio is great as well so i am lost lol.

Honestly from what i told you does that seem like we should of gotten a low amount? The only thing i see wrong and what i said is we have two cars already but one will go...


Thoughts?

 

look dude 680 isnt good i have 720 and im 21, i make 36k a year and bought a car at 35k with 3% interest rate, zero down, my wife doesnt work and has like 690 credit, go to credit karma.com and see what they say, its the best way to look at your credit score free of charge and what you need to improve on man,

used is risky, like i said buy a stock used evo, because who knows what the tuner did, and if i were you i would just trade the car in, it will help alot, and go for a 2010 model or above,

reasons why to get a stock car are simple, you dont know how crazy the tuners were with the car, you never ever want your car to run lean if its a dd and you dont want anything that doesnt improve your car if its a dd

 

This is highly offensive material and I would like a mod to remove it.

mod comment: please just report it next time, rather than quote; that made me edit your post, too, to make it go away

 

Reason why you were approved for $25k because your DTI (Debt to Income) is a bit high. Anyway you can trim that down? That will help you get a higher loan amount...

Good luck