Evo financing opions
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From: Eastlake, OH
Evo financing opions
hey i was wondering if mitsubishi offered that 0-0-0 offer the the evo's. the one with 0%apr and you dont have to pay anything for a year?
Well let’s put it this way.
Take my OZ for example:
I took "advantage" of the 0-0-0 promotion
Paid $17,000
Monthly payments $375
interest is roughly $130 a month
so, if you don’t pay for a year the car has depreciated nearly 40% of its original value or $10200
so now you have a used car that you still owe $17000 for but is only worth $10200, a difference of $6800. However, if you had made payments the first year you would have paid $3000 towards the principal of the car. This would leave you with a $3800 difference in the amount owed and the value of the car.
to simplify this, if you want to trade your car in you have to make up the difference still owed on your OZ which would mean you would need a LARGE down payment.
Hope this kinda helps
btw, mitsu lost their asses off on the 0-0-0 event...
Last edited by Event-Horizon; Nov 23, 2003 at 05:52 PM.
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