In October 2003 I financed my 03 wrx, then I get word of the 04 sti and I got jealous , now that I have fallen in love with the sti I’m thinking of trading in my car. I still owe like 21, xxx (fcking low jack)

So my question is if I take my wrx to the dealer for a trade in will I be shooting my self in the foot? If I did take my 03 as a trade in I would put 4k down on the sti. Another thing I have thought of is selling privately but I’m not seeing many 03's go for what I have left to pay. I only have 12,000miles on my car but its automatic = (so I’m not sure what resale value lies.

I guess the real question is what is the best road for me to take?

Keep your car. There will always be something better coming out after you buy. Add parts to it to keep yourself from getting bored with what you have if you have to. It will be cheaper that way. The dealer might give you $18-19K in trade if you're lucky. Wrapping an old car's financing into a new one seems to be the American way these days b/c everybody wants the latest/greatest. But it is a huge waste of money and one of the biggest common financial mistakes people make along with credit cards.

You are what is known in the financing trade as "upside down", that is, you owe more than the car is worth. Don't dispair, this is true of everyone who finances a significant portion of the car's purchase price.

If you absolutely must have the shiny thing dangling from the dealers string....
1. sell your car privately - you will get more for it than most dealers will give you in trade.
2. Negotiate for the STI ruthlessly - be prepared to walk away from any deal that is not just above invoice. they do not seem to be flying off the dealers lots right now and you can find good deals if you are willing to work at it. You will need to do so because even if you get it for invoice, you will still be paying something above MSRP when you figure in the upsidedownness of the deal. But, what the hell, if it floats your boat and your kids can still eat, go for it.

good luck.

Originally posted by Zdsquared
In October 2003 I financed my 03 wrx...

You mean "October 2002" don't you? 12K miles in one month would be difficult.

Anyway, I'd just keep what you have. They'll always be something better later on....

Keep it and mod, unless you already have. Unless you can really comfortably afford the loss you will take by switching up, I would keep your current ride. I am doing vishnu subzero here for x-mas time :D

Remember, if you get the STi, you're not necessarily going to leave it stock.. it's gonna need a stereo, floormats, winter wheels (eh.. nevermind you're in San Diego)... before long you could be in an even deeper hole.

I test drove an STi and it's a nice car, but it just reinforced how good a deal my $22K WRX is. (and with my *cough* 5-6K in mods it should be reasonably competitive with one performance wise)

-bd

I still owe like 21, xxx
If you still owe that much after a year, you paid substantially more for your car than invoice price. Before you worry about getting a new car, I'd learn a lot more about how to negotiate price. Check out sites like www.carbuyingtips.com.

Do it if the STI is in your budget get it. When you look at upgrading a WRX you will spend lots $$$ in order to get performance of an STI. (Plus all the other goodies that come with it.)

:banana:

Figure the car has lost $4-5k of its initial value--around $18-19k for resale. You still owe $21k on it. If you sell now you will be about $2-3k upside down on the deal. As MCH put it, is the dealer's shiny new STI worth an additional $2-3k to you? Remember, in just two or three more years you will no longer be upside down and you won't have to pay the associated penalty. Or you could keep it for four or five more years and pocket the extra money that would be going toward car payments.

automatic? get out!

MCH and cjbruce have made great points. Keep in mind that if you buy that STi now, you're going to way upside down on it and it's going to take you all that much longer to recover the loss. In other words, if you trade up now, the STi is going to own you for quite some time, so make sure it's the car you really want.

Check out the Mazda 3. zoom zoom.

Originally posted by Skylab
Check out the Mazda 3. zoom zoom.

Mazda??? Lovely cars to look at, for sure, but nothing quality-wise to what Subaru is. Surely you're kidding. :) I know a guy with a Protege 5 that has 4,000 miles on it that has a headlight out and the transmission (automatic with sportshift) is slipping.

Don't knock the Subaru 4EAT transmission. While not as fun as the stick, it IS sturdier. This is the same transmission (essentially) that was used in the SVX (230 hp). The 5 speed is good, but a little weak. Its life span is directly related to its owner's driving habits. Can't wait to buy my first Subaru.

Raptor

I have an 03 with 8K miles. Dealer said $16,500 for trade in. I about messed my pants. I paid $1K below invoice 8 months ago. I paid $22400 for everything. I feel bad for those who paid $26K. But the dealer said that the when the 04 came in that this was gonna happen. Hell it's cheaper to buy a new Sti than to convert with used JDm parts. Crazy.

Originally posted by Raptor75104
Mazda??? Lovely cars to look at, for sure, but nothing quality-wise to what Subaru is. Surely you're kidding. :) I know a guy with a Protege 5 that has 4,000 miles on it that has a headlight out and the transmission (automatic with sportshift) is slipping.

Don't knock the Subaru 4EAT transmission. While not as fun as the stick, it IS sturdier. This is the same transmission (essentially) that was used in the SVX (230 hp). The 5 speed is good, but a little weak. Its life span is directly related to its owner's driving habits. Can't wait to buy my first Subaru.

Raptor

I wouldn't consider the SVX a selling point for an auto trans- they ate auto transmissions. Many have had 2 or 3 before the 100k mark.