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Old 12-15-2010, 03:00 AM   #1
midtx350z
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Member#: 267176
Join Date: Dec 2010
Chapter/Region: TXIC
Location: Midland, TX
Vehicle:
2011 WRX
Black

Default Purchasing a new WRX... questions. Trading in my 350z.

Hey guys, I'm new to NASIOC... So I thought I'd introduce myself first. I come from my350z.com seeking advice.

I'm trading in my 350z for a 2011 WRX and wanted to ask if they're giving me a good deal on it.

The WRX is $26,999.
They're taking my 2006 Grand Touring 350z for $11,000.

From what they figured, if I finance the car through them, my monthly payments would be $289, and my APR would be 4.9%.

Now, the main reason I'm seeking advice is that I'm 20 years old. I have never bought a brand new car or bought from a dealership. The two vehicles I've owned were purchased from a private seller, so i'm not sure what to look for or watch out for.

I wouldn't have any trouble with paying $289 a month... I'd actually probably end up paying $350 or $400 a month to pay it off faster. I'm a full time student, work part time at a bank and own an IT company as well as do professional photography.

I need to know what other questions to ask, what discounts I could get. I've been told to see a credit union or the bank I work at to see if I get better rates... but with this being my first car being purchased under my name, I would imagine that the offer that I'm getting from the dealership is good.

I don't have long term credit... that is, I've never had a loan or a mortgage. My credit score seems to be good though.

Anyways, please feel free to ask me any questions... I'm really looking forward to your help. They wanted me to make a decision tomorrow (12/15/2010).

EDIT: Btw, the WRX did not have a nav system and had black cloth seats with red stitching.


Here's my Z:


Mine and my roommate's Z:
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Last edited by midtx350z; 12-15-2010 at 03:21 AM.
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Old 12-15-2010, 04:37 AM   #2
Geerolla
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Member#: 264827
Join Date: Nov 2010
Chapter/Region: NWIC
Location: WA, USA
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2011 2.5i 5D
DGM

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Welcome and congrats on potentially making the switch.

I'm 26, but was in a similar spot as you just recently. I just purchased my first brand new car and it was my first time going through a dealership. I feel like my experience went fairly well and that I walked away with the best deal I could get. My biggest advice is to research, research, research. Look up the invoice price on everything (edmunds.com) and be ready to haggle. There's no reason you should have to pay MSRP. Also, call around to or visit other dealerships and see what kind of deals they might be offering. You can use it to help negotiate when you're actually making the purchase. I ended up walking out with my 2.5i at invoice, plus some additional incentives. Consider if you want to try and get a deal on prepaid maintenance, etc. If you go in there knowing exactly what you want and for exactly how much, it'll make things a lot easier... you'll just have to hold steady as they're very good at trying to get you to budge. Remember... the economy is down, so they'll usually deal just to make a sale and you can always go to another dealership.

I also have to agree with those that told you to go to your bank. If you do that first, you'll make sure you're getting the best rate available to you. As a first time buyer (with good credit) you should be able to get around 3.9 (I did).

Good luck, and let us know how it goes!
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Old 12-15-2010, 07:12 AM   #3
midtx350z
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Black

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Thanks for your reply, Geerolla!
I'll be stopping by Wells Fargo today.
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Old 12-15-2010, 08:16 AM   #4
dharel0bs11
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4.9% is a bit high. Did they tell you why the rate was 4.9%? When I financed my 2011 Outback Sport, the rates through Subaru/Chase were 2.9% or 3.9% depending on the length of the finance (60 or 72 months respectively).
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Old 12-15-2010, 08:32 AM   #5
midtx350z
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Default

Quote:
Originally Posted by dharel0bs11 View Post
4.9% is a bit high. Did they tell you why the rate was 4.9%? When I financed my 2011 Outback Sport, the rates through Subaru/Chase were 2.9% or 3.9% depending on the length of the finance (60 or 72 months respectively).
I'm sure it's because I'm a first time buyer. I'll check at my bank today and see what they say.
You think it might be because the monthly payment is so low?

Also, I believe the finance is for 56 months.

Last edited by midtx350z; 12-15-2010 at 08:40 AM.
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Old 12-15-2010, 09:33 AM   #6
dharel0bs11
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Quote:
Originally Posted by midtx350z View Post
I'm sure it's because I'm a first time buyer. I'll check at my bank today and see what they say.
You think it might be because the monthly payment is so low?

Also, I believe the finance is for 56 months.
Being a 1st time buyer shouldn't have any impact, unless the dealer is trying to screw you. But of course, that is why you came here for advise!

The 4.9% could be because of the 56 month term. Standard terms are typically 36, 60 or 72 months.

See what your bank offers on a loan. If you get nowhere with the bank, see if you can get the dealer to lower the rate to at least 3.9%. Subaru finances through Chase btw.
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Old 12-15-2010, 10:27 AM   #7
midtx350z
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Black

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Wells Fargo said that they wouldn't be able to match that. They said that's a great deal.
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Old 12-15-2010, 01:46 PM   #8
midtx350z
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Black

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The dealership just told me they'd probably do 3.9%
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Old 12-15-2010, 02:29 PM   #9
keylay
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Location: Houston, Texas
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Spark Silver

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Congrats on wanting the Subaru!
I had a truck my parents bought for me as a graduation gift from highschool in 2004, a Toyota Tacoma. I needed a new car and decided I wanted a Subaru Impreza. My fiance had purchased a Forester in July and didn't haggle with the price as much, something i knew I wanted to do. Here is my adivice to you...

First, be prepared to walk away! I went back and forth to the same dealership, took multiple test drives and talked briefly about numbers and moved on. I did this for about two months. I searched AutoTrader for the same car in a 500 mile radius to see if prices were that much difference between cities.

With my credit scores soley by having a credit card and being smart with it, the lenght of my financing (48 months) and my down payment ($10,000), I was able to get 2.9% through the dealership which is through Chase Bank. I was happy with this.

When I went in, I low balled my offer substancially, but since I had been there so many times, they wanted to deal. I ended up seeing the invoice (what the dealership paid) and got it at cost, which was roughly 10% off MSRP.

Good luck and post up when you get the Subaru!
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Old 12-15-2010, 04:43 PM   #10
midtx350z
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2011 WRX
Black

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We're about to go talk some bitness.

I sure do hope to get it. :O
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Old 12-15-2010, 09:23 PM   #11
midtx350z
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2011 WRX
Black

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Guess who's the proud owner of a new '11 WRX?
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Old 12-15-2010, 09:28 PM   #12
jwb4bb
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Pics or it didn't happen!
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Old 12-15-2010, 10:28 PM   #13
midtx350z
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Black

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It doesn't get here til this weekend... (coming from Oklahoma) and I wont be in town to pick it up until tuesday!! :'(
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Old 12-16-2010, 01:12 AM   #14
SWP impreza GH
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Congrats! Sedan or hatch? I'm assuming base with some options? Post pix! I just got my 11 sedan base about 2 weeks ago and I love it! I brought my 08 in for an oil change and saw the 11 for sale at the dealership. 2 hours later I drove home in the 11 and I couldn't have been happier
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Old 12-16-2010, 01:49 AM   #15
midtx350z
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Member#: 267176
Join Date: Dec 2010
Chapter/Region: TXIC
Location: Midland, TX
Vehicle:
2011 WRX
Black

Default

Quote:
Originally Posted by SWP impreza GH View Post
Congrats! Sedan or hatch? I'm assuming base with some options? Post pix! I just got my 11 sedan base about 2 weeks ago and I love it! I brought my 08 in for an oil change and saw the 11 for sale at the dealership. 2 hours later I drove home in the 11 and I couldn't have been happier
Sedan, premium.

Black.

Ahhhh I can't wait to drive it. I'm so angry... like this:
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Old 12-16-2010, 03:51 PM   #16
Targo68
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Location: Haddam, CT
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DGM

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I'm jealous!
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Old 12-17-2010, 06:19 AM   #17
midtx350z
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Black

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haha don't be. I'm gonna be out of town the whole weekend. So the car will get to the dealership from Oklahoma but I won't be back from Chicago until tuesday. So this vacation that I'm going on... instead of enjoying it I'll be thinking of my Scooby. :-/
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Old 12-23-2010, 12:17 AM   #18
midtx350z
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Black

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Just got it today. I can't explain how happy I am.
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Old 12-23-2010, 09:13 PM   #19
jstepp5220
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Location: Bel Air to Westminster
Vehicle:
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Congrats man! Your gonna love it! Make sure you break it in properly! Have fun and be safe(I sound like my mom) Haha
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Old 12-25-2010, 05:18 PM   #20
Octo187
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Quote:
Originally Posted by midtx350z

Just got it today. I can't explain how happy I am.
I thought premiums have fog lights and moonroof?
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Old 12-25-2010, 05:19 PM   #21
Octo187
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Quote:
Originally Posted by midtx350z

Just got it today. I can't explain how happy I am.
Also Congrats on your purchase :-)
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Old 12-28-2010, 01:44 AM   #22
midtx350z
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Join Date: Dec 2010
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Location: Midland, TX
Vehicle:
2011 WRX
Black

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Check out the photos of my wRex. Please reply and let me know what you think!

http://forums.nasioc.com/forums/show...7#post32848927
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Old 12-28-2010, 01:27 PM   #23
Ginsubie
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Join Date: Dec 2010
Location: Northridge, Los Angeles, CA
Vehicle:
2011 WRX 4-Door
DGM

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Checked out your pics. Great car! I do have to echo Octo187's question. Did you actually get a WRX Premium? Did you pay for a Premium? Did the dealer tell you your car was a Premium? If so, you need to take your car back and get them to install a moon roof and fog lights (I can't obviously tell if you have heated seats, but you should).

I just bought a 2011 WRX base trim, and your car looks just like mine.

BTW, maybe it's time to edit your profile to reflect your new ride status?
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Old 12-28-2010, 02:40 PM   #24
ejhayes76
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Yeah, that car is the base WRX. Should have cost about $24k + tax/tags out the door. If you paid for the premium, take it back. Premium is $1k-2k more out the door.

Being 20 years old, you might not have the credit rating to get the best rate from Subaru. 2.9% for 60 required 700+ fico, IIFC.
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Old 12-28-2010, 03:58 PM   #25
mcglsr2
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Agreed with the others: no spoiler, no moonroof, and no fog lights means base model, not premium (or limited).

I see the dealer also nailed you with the SPT carbon fiber trunk trim. I hope you didn't pay too much for it...

Sorry to ruin your excitement regarding the new car
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