Okay so I'm in the market for an Evo after selling my 2G GSX. Due to having a lower credit score I can't really get financed for anything higher than 18k. I came across this Evo (attached link) and I was wondering if I could get your opinion. The only thing that concerns me is that initially it was advertised with 60,000 miles only to find out that was an error and has 113,000 miles. What are some things that I should look for while test driving it to make sure it's worth the buy. It's going to come out to 450/month for 72 months so this thing needs to be mechanically flawless. I take really good care of my cars as far as routine maintenance goes, and am fairly mechanically inclined thanks to my DSM LOL haha. Anyways, the link to the car is below, and I'll do my best to get some engine pics posted as well.

(Uncle works for Mercedes, and said it came back with a clean carfax, and autocheck)

http://www.autotrader.com/cars-for-s...gIndex=7&Log=0

http://www.cookvolkswagen.com/used/d...r_Baltimore_MD

 

You need to check your math. 450 a month for 72 months? You realize thats over $32,000 right? Thats like a 200% interest rate. That's just stupid money.... If your credit is that bad (no offense) I think you should just wait and save up some money for a down payment.

 

Yeah I'm working on seeing why the price is so high right now because I was told the APR is 18.4 which should come out to around 350/month. This is with 2,500 down as well.

 

Sale price of the vehice (lets just say you agree to 18k)

Sale price of car
18,000
MD state sales tax (6%)
2,160
TTT (estimate)
750?

Total sale price
$20,910
minus 2,500 down payment

OTD price
$18,410

@ an 18.4% interest rate, (which btw is assaninely high for a car loan)

Financed for 72 months (6 years, which NOBODY will do on a vehicle that old short of a credit union which I highly reccomend you look into)

Your payments will be
$302.72 a month

In total you're going to wind up paying $21,797.74 after interest hits you. Not to mention, you need ot think about maintenence, up-keep. Personally I think it's down right STUPID to finance a car for 18% interest rate. No offense to you but good luck man.

 

just FYI. your APR is what is making it high. you are getting rape with that APR. save your money or build your GSX

 

Yea with that rate they are going in. DEEP. With NO lube.

 

a good APR will be around 10% to 12% if you have a bad credit

 

Thanks for taking a few minutes to do all the math, and work it all out for me as I was just about to actually take the time to do so. The above 350/month was an estimate on a loan calculator, and not what my math came out to be. Since it's COB at the dealership I can't get any information as to why/how 450/month came out to be. Anyways, I'm working on the financing part and looking into Navy Federal, and other credit unions to get a better deal. Also, I've just came across the threads about higher mileage Evolution's, what to look for, etc. and that was what I was really looking for by creating this thread. Any other inputs on what to look for is greatly appreciated though.

And the whole reason I don't like driving my car is because it's an automatic, and just is boring to drive. My buddy just showed me how to drive manual on his car, and it's A LOT more fun to drive. Plus, I've paid of most of the stupid medical bills I was stuck with as soon as I turned 18 due to not having insurance, and was hoping an auto loan would help further rebuilt my credit while driving a car I've always wanted.

 

I don't have any experience with Navy Fed, but when I purchased my Lancer I HAD to go through a credit union cause I had NO credit at all. Credit union's are very good about giving loans but that's another story within itself. I recommend you do your homework first.

Also, don't get your heart set on one car. Go test drive some other ones as well. Make sure it's what you want and don't "settle". Last but not least, if your going through a dealer, don't let them bully you around. If they start to get pushy, walk out, trust me, it will save you SOOO many headaches.

I noticed you were looking at a dealer in MD. Are you currently living here or are you planning on travelling to pick one up?

 

Trust me I'm not set on one particular Evo by any means. It was just the first one I inquired about, and found that was closest to me in the price range that I thought I'd get approved for. I still have another 5-8 Evo's that I found as well.

I , by all means, aren't letting them bully me around as I told them if things don't work out that I'm not buying it.

I'll take a look into the local credit union's around here (I live in Ohio), and see what they say.

I'm open to distance, and am willing to do some traveling to find the right one.

 

Anything else I should really look out for besides the clutch when I take a look at this vehicles. Also I read that it's typical for the clutch to be a little notchie? is this true?

 

Ermmm....well most people don't last on the stock clutch that long. But I guess it's a freeway commuter car with that high of mileage. With that mileage it would be time to do 2nd timing belt, fluid flush, brake flush etc if it hasn't been done recently.

Before buying I would definitely get a compression test done.

 

I'll definitely be looking/calling for service records especially regarding the timing belt and handling accordingly. How hard is it to change the tranny?

I probably should search and I'm sure I can find that answer lol.