Other than the APR, I think you are doing pretty good. I had a 1999 Si I traded in that I only owned for a year also. I only paid $8k for my Si and got $7200 on trade and they offered me the IX SE @ 31k and 6.2% apr... so I think you are doing pretty good.

 

Also, how much are you financing? I know 9% bites.. heck, I thought 6.3 was pretty bad but when I did out what the difference in my payment would be it was like $5 a month to go from 6% to 5% or something like that and it only adds up to a $300 over 5 years...

 

i'll be financing $20,200

 

Funny how much room they gave themselves on the deal isn't it? Glad you got a good rate.

 

Make sure you get the 6%, otherwise the dealers will be pocketingthe difference in APR.

 

are you buying from stevens creek or capitol mitsubishi? those guys are a bit crooked, but i got my MR from them 1.5 months ago for $32,600 + tax/licensing cash. considering the MR is about $4k more than a GSR, you could probably go lower the price.

I got the MR for $2150 under invoice with no incentives. 0% APR is only for the Eclipse right now. Since you're financing, they're making even more money off of you through financing, so you should be able to get near $2150 under invoice + a low APR.

I don't know how much the Si is worth, but it needs to cover at least the $2100 difference you're paying extra on the Evo. Plus they're making money on you from the financing.

 

Oh and that crap about South Coast being a sister company is crap. They tried to dissuade me from buying from there, but they will at least match the price if you bargain hard enough with them. That crap about those prices being used cars, or returns or whatever is garbage.

Make sure you get everything in writing though. SC Mitsu can be a pain, but stick it to them and get a good price.

 

+1 on looking into a credit union.

I bought from South Coast back in March (by the way, no problems at all and I got the car with 10 miles on the odometer), but I went through my credit union for financing.

4.9% for any term (up to and including 72 months on all new vehicles, regardless of whatever your credit score is, although ours is very good), which is a fantastic rate nowadays unless the manufacturers themselves are offering some kind of special.

Anyway, I wasn't trading anything in, so take that into consideration regarding the actual numbers, but even so you'd only be hurting yourself by not looking a bit closer into some of your local credit union rates before making any final decisions.

 

Shop around for rates just like you would do with a car. They lie to us all the time, no reason why we can't do it to them. Tell that salesperson, "Well my credit union was willing to do a 5.8% with 20,200 financed for X months. Either you do 6% APR w/ 10K for the trade in AND 29K for the car, or I'll just drive down to South Coast Mitsu where they were willing to work with my credit union, give me the same for trade in, with a significantly lower price than what you're offering me." If they can't do that for you, just walk and get on the phone with either Bob @ Victorville or Mike @ South Coast.

 

you asked before about the tax. you only pay the tax on the difference between the trade in and the new car.EG. if you buy a car for 30k and you get 10k on your trade in you pay tax on 20k not the full price of the car. good luck!

 

that is good advice, i will hit the yellow pages before i lock myself into a loan...that's for sure!

i actually just emailed him down there. i am wondering how they handle trade-in "appraisals" with me being all the way in San Jose. It would be a ***** to drive all the way down there and have them say "no sorry...we can't do 10k".

wow...really? that would save me about 1k. Are you absolutely sure of this? Also, does it vary state-to-state?

 

Hi I am from the Bay Area as well. Have you talked to any credit union in the bay area yet? My 04 Rx8 is financed through Provident Credit Union at 4.25% APR. Although now they are doing 6.500% APR but that's still better than what you are getting. Check them out www.providentcu.org.

Also E-loan is doing 6.35% APR for 60 months and 6.69% APR for 66 or 72 months.

I am looking forward to buy an Evo from either SC or see if a local dealership is willing to match the price as well. The only thing that is stopping me from doing it right now is the interest rate....6% to me still seems kinda high when Subaru is doing 4.9% =(

 

My CU is 5.75% for 60, 6.75 for 72. Commerce Bank here is 6.25 for 60.

 

i'm going back down there for "round 2" with a capital one quote in hand. wish me luck guys. it always stresses me out going to dealers...