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Old 05-21-2014, 07:58 PM   #1
Mrbojangles019
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Default Thinking of trading my WRX for an Evo X

Okay,

so I currently have a 2009 WRX which I owe around 12k on. There is a dealer near me with current deals for a 2014 Evo X.

I would get the Evo X for 189/mo for 2 years. Then the option to buy out after.

Trading my car in I should get more than I owe, so id put that down on the car. then make the lease payments.

Even though evos are no more, is it worth it to trade mine in for a brand new car, at such a cheap monthly price.

What would you do given the option. WRX or EVO

My current payment is 220/mo for my wrx
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Old 05-21-2014, 08:02 PM   #2
thill
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There is too much missing here. How much do you owe on your WRX, and how much is the Mitsubishi dealer giving you for it? For $189 a month my guess is you are putting way too much down on a lease. The goal of leasing is to put the least amount down and if the only way to lease the Evo at an affordable payment is to put a lot down, run away.
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Old 05-21-2014, 08:03 PM   #3
GrumpyPitbull
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If you can afford it, and don't mind leasing, then go for it.

No comparison between the 09 WRX and the Evo .... The Evo is better in every category by a large margin.
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Old 05-21-2014, 08:05 PM   #4
Mrbojangles019
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Quote:
Originally Posted by thill View Post
There is too much missing here. How much do you owe on your WRX, and how much is the Mitsubishi dealer giving you for it? For $189 a month my guess is you are putting way too much down on a lease. The goal of leasing is to put the least amount down and if the only way to lease the Evo at an affordable payment is to put a lot down, run away.
I owe 12k on my wrx
dealer will give me around 14k

current deal for the evo is
4k down
189/mo for 2 years lease
option to buy after for 25k
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Old 05-21-2014, 08:20 PM   #5
thill
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Quote:
Originally Posted by Mrbojangles019 View Post
I owe 12k on my wrx
dealer will give me around 14k

current deal for the evo is
4k down
189/mo for 2 years lease
option to buy after for 25k
$189 a month on an Evo is a great deal. $4K down on a 2 year lease? Not so much. You are effectively paying a lot more than $189 a month with $4K down over 24 months. $4K spread out over 24 months is $166 a month on top of the $189. I would see if you can put less down even if it means paying more a month.

You also need to look into what your WRX worth if you sell it privately and compare the KBB price.

It doesn't look like a bad deal, but the $4K down is a lot to put down on a lease.
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Old 05-21-2014, 08:26 PM   #6
Mrbojangles019
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Quote:
Originally Posted by thill View Post
$189 a month on an Evo is a great deal. $4K down on a 2 year lease? Not so much. You are effectively paying a lot more than $189 a month with $4K down over 24 months. $4K spread out over 24 months is $166 a month on top of the $189. I would see if you can put less down even if it means paying more a month.

You also need to look into what your WRX worth if you sell it privately and compare the KBB price.

It doesn't look like a bad deal, but the $4K down is a lot to put down on a lease.
So how much less should I put down, and how much should I look for a month. To make it a good deal.

Cause yeah with that its like 365/mo for 2 years.
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Old 05-21-2014, 08:34 PM   #7
thill
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Quote:
Originally Posted by Mrbojangles019 View Post
So how much less should I put down, and how much should I look for a month. To make it a good deal.

Cause yeah with that its like 365/mo for 2 years.
First thing I would do is research the resale value on your 2009 WRX. $14K could be a good price, or it could be $2K or so on the low side for a trade-in. If you sell it yourself, you could get even more.

Once you know that, it might be easier to negotiate on the Evo. I personally, would not put more than $2K down on a 2 year lease, but that is something you need to work out. My advice here is that if you could not afford the monthly payments buying the Evo with $4K down and can only afford it with leasing and $4K down it is not a good decision. It is more car than you can afford. If you don't see yourself in the car more than 2-3 years then leasing is fine, just try to put less down.

You also may want to check out insurance rates. I don't know your age, but a brand new Evo may be quite more a month or it may not be bad at all. On the flip side you will have a brand new car with a full warranty. And also understand you are leasing for 2 years.. So if you like to mod your cars a lease is not the way to go.
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Old 05-21-2014, 08:35 PM   #8
SwollRX
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Mitsubishi is still doing business in the US?
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Old 05-21-2014, 09:07 PM   #9
Mrbojangles019
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Quote:
Originally Posted by thill View Post
First thing I would do is research the resale value on your 2009 WRX. $14K could be a good price, or it could be $2K or so on the low side for a trade-in. If you sell it yourself, you could get even more.

Once you know that, it might be easier to negotiate on the Evo. I personally, would not put more than $2K down on a 2 year lease, but that is something you need to work out. My advice here is that if you could not afford the monthly payments buying the Evo with $4K down and can only afford it with leasing and $4K down it is not a good decision. It is more car than you can afford. If you don't see yourself in the car more than 2-3 years then leasing is fine, just try to put less down.

You also may want to check out insurance rates. I don't know your age, but a brand new Evo may be quite more a month or it may not be bad at all. On the flip side you will have a brand new car with a full warranty. And also understand you are leasing for 2 years.. So if you like to mod your cars a lease is not the way to go.
Yeah i was thinking that, just trading it in would be easier than trying to sell myself.

Ill see what the guy offers and go from there. Just wanted a baseline.
2k down like you said sounds good. I can afford 4k down and 189 a month. but yeah thats like 365 a month which Im not gonna pay for a car when my car is fine.

2k down and 189/mo would make it around 272 a month. not bad and I would deff do that for a new evo
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Old 05-21-2014, 09:14 PM   #10
Yorker1127
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Quote:
Originally Posted by Mrbojangles019 View Post
Okay,

so I currently have a 2009 WRX which I owe around 12k on. There is a dealer near me with current deals for a 2014 Evo X.

I would get the Evo X for 189/mo for 2 years. Then the option to buy out after.

Trading my car in I should get more than I owe, so id put that down on the car. then make the lease payments.

Even though evos are no more, is it worth it to trade mine in for a brand new car, at such a cheap monthly price.

What would you do given the option. WRX or EVO

My current payment is 220/mo for my wrx
God please trade that narrow body crap for the EVO!
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Old 05-21-2014, 09:31 PM   #11
Ultimateone
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I had an 08 EVO X, it was a nice car and obv leagues above your 09
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Old 05-21-2014, 10:29 PM   #12
thill
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Quote:
Originally Posted by Mrbojangles019 View Post
Yeah i was thinking that, just trading it in would be easier than trying to sell myself.

Ill see what the guy offers and go from there. Just wanted a baseline.
2k down like you said sounds good. I can afford 4k down and 189 a month. but yeah thats like 365 a month which Im not gonna pay for a car when my car is fine.

2k down and 189/mo would make it around 272 a month. not bad and I would deff do that for a new evo
Yeah, just remember a new base Evo is still a $34K car brand new..
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Old 05-21-2014, 11:02 PM   #13
heavyD
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I miss my EVO. Such a fun car and a fantastic engine/AWD system. If you can afford it you won't regret it.
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Old 05-21-2014, 11:10 PM   #14
scikoticWagon
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I would say do it!! make sure you are not getting screwed over though if you are trading it in, putting 4k down is way to much, you should be down to around 2k trade in and the dealer obviously knows this but is just trying to take advantage of you. If you do get it you will not regret your decision, definitely more than worth what you drive now. Plus they sound soooooooo good!!
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Old 05-22-2014, 08:16 AM   #15
asindhidude
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FWIW, in Orlando, they are selling GSRs for 31,000 +++.

The deal they are giving you is 4k down + 4500 in payments +25k for buy out means total is 33500 roughly.

If you can get the down payment to 2, it'd be the same deal as buying, except you're not on the hook for the whole care if you want out after lease is up.
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Old 05-22-2014, 08:57 AM   #16
general16420
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Quote:
Originally Posted by Yorker1127 View Post
God please trade that narrow body crap for the EVO!


What makes a car a "narrow body"?

Because your 2015 toyobaru is literally 2 inches wider than his........
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Old 05-22-2014, 09:14 AM   #17
WRXHillClimb
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Quote:
Originally Posted by general16420 View Post
What makes a car a "narrow body"?

Because your 2015 toyobaru is literally 2 inches wider than his........
It's narrow body because they released a much cooler wide body version with typical bulgy fenders in 2011 It has nothing to do with physical width of the car and everything to do with the fender width in proportion to the rest of the car body's side profile.
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Old 05-22-2014, 10:01 AM   #18
Brent22
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Quote:
Originally Posted by WRXHillClimb View Post
It's narrow body because they released a much cooler wide body version with typical bulgy fenders in 2011 It has nothing to do with physical width of the car and everything to do with the fender width in proportion to the rest of the car body's side profile.
09 is a narrow body. 15 is almost as narrow as an 09. 15 looks like an Evo. Therefore Evo is a narrow body. So it looks like you narrow body freaks better stick together. BRB gotta go drive down the middle of a 2 lane highway just so my car fits on the road. You Narry's wouldn't understand.
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Old 05-22-2014, 10:06 AM   #19
Yorker1127
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Quote:
Originally Posted by general16420 View Post

What makes a car a "narrow body"?

Because your 2015 toyobaru is literally 2 inches wider than his........
Narrow or not, the 08-10 body is the worst creation by Subaru yet, they did a better job designing the Subaru Brat..
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Old 05-22-2014, 10:06 AM   #20
Yorker1127
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Quote:
Originally Posted by WRXHillClimb View Post

It's narrow body because they released a much cooler wide body version with typical bulgy fenders in 2011 It has nothing to do with physical width of the car and everything to do with the fender width in proportion to the rest of the car body's side profile.
Thank you, see some get it
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Old 05-22-2014, 10:11 AM   #21
murrdogg24
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Leasing a car is the dumbest thing you could ever do, unless you are doing it for a very short period of time 1yr or less and plan on getting a new lease year after year to stay in a new car. If you actually want to own a car, find something you can afford and pay cash, or finance the car 100%. Don't waste money on a lease.
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Old 05-22-2014, 11:27 AM   #22
aquariaguy
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Quote:
Originally Posted by Mrbojangles019 View Post
I owe 12k on my wrx
dealer will give me around 14k

current deal for the evo is
4k down
189/mo for 2 years lease
option to buy after for 25k

$4000 DOWN on a leased car, which you MAY or MAY NOT buy back. That doesn't make sense at all. When you do a lease, you should put $0 down. Than you get your TRUE monthly payments. That $4000, is spread out over 24 months which is around $333 extra a month (roughly without interest blahblah).

So you're technically getting only $10K for your WRX since you're putting massive down.

I think you gotta sit down and really calculate how much you're paying for the Evo.

What's the interest rate on the new evo anyways?
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Old 05-22-2014, 11:29 AM   #23
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You pick performance cars on a monthly payment, go away. Get the EVO.
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Old 05-22-2014, 11:30 AM   #24
Gro Harlem
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so if the dealer offered you a car for 99 a month for 600 months you'd take that over the 189 offer? That is basically the logic you are using in making this decision....the monthly payment.
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Old 05-22-2014, 11:38 AM   #25
jmhwrx14
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Sell the '09 Rex and buy a used (not abused) Sti
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