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Old 05-15-2001, 05:51 AM   #1
jmaluso
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Member#: 6616
Join Date: May 2001
Chapter/Region: SCIC
Location: SLO, CA
Vehicle:
'07 Mazda 3 Hatch
Black

Post Should I buy a WRX?

Hello Everyone. My name is Joe and I am very new to this board, I actually just found it yesterday and registered today. I am 20 years old. I currrently own a 2000 Mitsubishi Eclipse GT and got royaly screwed on financing it...11.99% interest and a +-$600 payment. I bought it in Jan 00 and I tried to refinance about a month and got declined due to lack of credit history. Don't get me wrong, I love my car, but I can't stand such a high payment. I want to get a decently priced, reliable, sporty car with good aftermarket support. I love the WRX, is it for me...will the new 2002 WRX have as good aftermarket support as the older models. How does Subaru compare to Mitsu or Honda in resale value? I have never owned a Subaru so any comments or help would be appreciated. Thank you all for your time and help.

~ Joe Maluso
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Old 05-15-2001, 06:10 AM   #2
RacerinLSL
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Member#: 1174
Join Date: Mar 2000
Chapter/Region: MWSOC
Location: St. Louis, MO
Vehicle:
2011 Subaru WRX
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Well, Mistu doesn't compare to Honda in resale value at all, and neither does Subaru. Just make sure you don't have negative equity in your car (it's worth less than the payoff). If you are, then you're going to screw yourself even more by switching cars. You can also assume that if you got a 11.99% rate not too long ago, it will not have changed much by now(your credit score). All you can do is go try. It doesn't cost anything other than a little humility to go to the dealership and work out the numbers with the finance manager.

Chad
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Old 05-15-2001, 06:32 AM   #3
jmaluso
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Post

I have good credit (and my dad co-signed for me)...11.99% was the interest i had to take in order to get the special 0 down, 0 payments, 0 interest for a year deal. I did it cause I really wanted the car at the time and did not have a downpayment. But I payed my full car payement for the full year even though I didn't have to (it was kinda like paying an $8000 downpayment over the course of a year - cause of no interest).

- I know if my dad co-signed for me for a Subaru that we would get a much better rate...stupid Mitsu financing.

Thanks,
~Joe

[This message has been edited by jmaluso (edited May 15, 2001).]
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Old 05-15-2001, 06:38 AM   #4
RacerinLSL
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Join Date: Mar 2000
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Location: St. Louis, MO
Vehicle:
2011 Subaru WRX
Black

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Then give it a shot, but you paying over that "FREE" year wasn't like a downpayment in the way that your car depreciated over that time also, but I know what you mean.
You're most likely not going to negotiate the WRX price, so try and get a little extra from your trade(if you trade) and see if you can make it work.

Chad
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