im in the process on buying a new evo this month. They checked my credit and everything and they said my monthly payments for be $ 549 for 72 months and i have to put down $3,500 of a down payment. I ask the sale person how much would it be otd and he said 30,426 for a GSR(not RS). I was wondering if its a good deal for an Evo or can i get a better deal. Also, anybody from MD tell me hows Rockville Mitsubishi service is like and if they are mod friendly. Any advice are welcomed and if anybody can tell me if theres a better dealership around my area that can give me a better deal.

 

....doesnt seem like a "deal" to me....
i calculated over 13% intrest rate

 

Anybody, i plan on buying it next week.

 

Imo, look for a better deal. Thats seems kind of high considering the length of term you're financing. Id definitely talk that down or go elsewhere. The money you're gonna spend on payments if you were to pursue this deal could go to fixing things that might break & maint. costs instead.

 

I'm in MD but bought it from DE 'cause we're closer to there. Are you trading anything in?

 

549 x 72 = 39K for the car... a little steep, you should be able to stay at 37K after TTL and financing.

of course, depends on your credit I guess.. if you are over 650... you should do better than 10%

 

Thats steep. Your basically paying what I paid for the MR. What I did was just take my dealers offer. Then I went and looked for a new lender and transferred the loan. The Rockville Mitsubishi dealer is very good though. They have always been nice to me and I had a modded 3000gt. So I would recommend them. But then again I never needed any kind of warranty work.

 

i guess im going to go to a Credit union to see if i can get a lower interest rate thx for the advice. o yea my credit score is like 680 around there.

 

Is that 30426 amount finance or price out the door. Seems like you're paying MSRP for it. Which is still a good deal but since the IX's are coming and the market is slow, I'm sure you could get a better deal.

 

yea otd

 

What is your interest rate?

The numbers you listed are way to high. For $3500 down and 72 months financed, you should be paying much less than that if you are getting a good interest rate.


Cabo

 

my interest rate is 7.39 i dont know it thats ok or not

 

I hope that includes all State taxes etc. With your $3.5k downpayment, you're actually paying $43,000 by the end of your 6 year loan term.

7.39% APR is high. I would make enquiries at your local credit union and if you're not a member, join ASAP; you only need a small deposit.

Don't negotiate based on a monthly payment. Tell them that you're willing to pay invoice for the car (check www.edmunds.com) and then aim to get financing of around 5% APR (or less); either from them, a bank or a credit union. Your monthly payment should be a lot less than that.

 

$30,426 otd with state taxes and everything

 

I presume that $30,426 otd is the balance outstanding after you've made the $3500 downpayment (i.e. you're actually paying $33,926 otd total) ? If so, you're monthly payment at 7.39% APR with 72 payments should be $524.

If $30,426 does not include your $3500 downpayment ( and you're only paying $26,926 otd), which is less likely, then your monthly payment would be $464.

Whatever the situation, the math doesn't add up and you're paying more than you should.....ask them why.