Ok, I might be buying an Evo XI this weekend and I was wondering if this sounds do-able. 8k down on the car, buying for invoice, and 1.9 APR for 60 months. The payments should be just under 344 a month. Also I have had good credit for 20 years(not me personally but i'm going off my dads credit line).

Does this sound like something a mitsubishi dealer is gonna go with? Are my expectations of the price/APR way too low?

Thanks for Info/comments

 

it doesn't sound right to me coz the XI isn;t out yet... lol!

 

I don't see how or why Mitsu would give you a 1.9% APR. They aren't giving any special rates on the IX. I also find it atrocious that you are buying a 30k car using your dad's credit.

Anyway, a base IX without SSL at invoice after TTL and 8k down will still be around 400/month even with 1.9%. If you get the normal market rate of 5.9% right now, then it would be closer to 450/month. If the dealership gives you the Evo at invoice, they have no reason to also give you a crazy low interest rate.

 

You've not only cross the line with that apr but, you are living there. (HAHA WOW I MAKE SINCE)

But yeah 1.9% apr you will never get that. Ypu could probably get 4%, and with only 8k down you iwll see a montly of 400-450 a month. So gl on getting your evo, hope you get it.

 

I also find it atrocious that you are buying a 30k car using your dad's credit.

Hey Warr, lighten up. If his father wants to help him (maybe cosign) why would you think it's atrocious?

yawaben, if your father helps you out make sure that you can afford it. There's nothing worse than buying something that you can't pay for.

 

invoice price...yes. apr of 1.9...not a chance in hell. the best you can hope for, even with perfect credit, is about 5.6% right now. credit union might go a 1/2 point lower.

 

I got the 1.9% apr idea from a deal i saw on presidents day sale, and my dad is helping me by cosigning and that it.

 

Yeah, the 1.9% is not going to happen. You can dream up scenarios all day long, but you won't know until they tell you!

 

If you get the loan from HIS or YOUR bank, it is the "cheapest" they offer. Finance it thru Mitshubishi could offer a different rate. see who's is the cheapest-go there. They go by who has the highest credit score to lock in the interest. good luck.

 

Well, after around 20 minutes of dealing i got them down from 36 (dealer asking price) to invoice 29 + 5.6 apr. I think if i spend another 2 hours i can get them to 500 below invoice and maybe 4.0 apr? Is it possable to get lower apr or is that really not negotiable?

 

Depends on the strength of (in this case) your dads credit score. too bad you tried to do it on a Saturday, you could cut a deal with YOUR bank. They want your business too, pit them against each other.