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Old 11-16-2000, 06:49 AM   #1
Keith
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Member#: 191
Join Date: Aug 1999
Chapter/Region: NESIC
Location: Brooklyn
Vehicle:
2012 J train
Brown

Question Help with Trade in math.

I am trying to decide if I will be able to get the new WRX when it comes out. OK here is the deal. I would like to figure an approximate dollar amount to see if its going to be possible. Here is the info that I have so far.
Right now my car is worth 12k as a trade in (bastards!!) and I plan on putting down like 3k on the car. And I am assuming that the price tag on the new impreza is going to be around 28k. I hope to get it for around that price and I think I might because the ppl at my dealership kick ass. (who else goes auto-xing with their dealers!!)
So we have 12k trade in, 3 k down payment and a 28k price tag. I will owe like 14k on the car I currently have. (damn…this looks bad when written on paper! )
So what do u think my approx payments will be with like a 7.9 interest rate for 60 months?
I would figure it out myself, but I don’t trust my math
Thanks
Keith
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Old 11-16-2000, 06:56 AM   #2
JGard
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Location: Austin, TX
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2014 Lexus IS 350
01 Miata red

Post

ok, well, if you're lucky, they'll just pay off the loan you have now for trade. which means the only amount taken off the new car is the 3k down payment. i've seen an mspr of 25k for the new WRX. so, we can say you are at 22k for your payments. 60 months, 7.9%? that's gonna be high 300's to low 400's. hint, check the mazda website, i know they have a payment calculator there, and you'll be able to figure the monthly by having percent, total price, and months. also, edmunds.com has a calculator there, too
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Old 11-16-2000, 07:14 AM   #3
RidinLow
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Member#: 329
Join Date: Sep 1999
Chapter/Region: Tri-State
Location: NJ
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1995 325i
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Post

See if you can get Craig to do a group buy on WRX's & I'll join you.
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Old 11-16-2000, 07:31 AM   #4
Keith
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2012 J train
Brown

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HAAhhah yeah groub buys! that would kick ass though!
Thanks for the info Jgaurd...I'm lookin into it
keith
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Old 11-16-2000, 08:09 AM   #5
ba_feitl
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Location: Wheaton, IL
Vehicle:
2004 Forester
Silver

Unhappy

Ok here you go on the pricing... have a seat please...

Assuming the car is worth $28k as you expect.
Your current ride is technically in the hole $2k, so add that to the amount financed.
You have $3k down so reduce the amount financed by that. Now your at $27k financed.
For Tax title license doc fees I assumed 7.5% sales tax and $500 for the other stuff.

Now you are financing $29,525 at 7.9% over 60 months...
drum roll ... make sure you are sitting...

$597.25

Thoughts - get a better interest rate and/or wait until you don't owe more than your current car is worth or put more down if you can ....


Good luck
Brad
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Old 11-16-2000, 08:33 AM   #6
Keith
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Brown

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Brad...its offical.
I dont like you!
Why couldn't you lie to me and say its going to be ok keith...as a matter of fact..here's 20 grand..get what you want!
Thanks for the info..maybe I should look into a bigger down payment. my car is just getting more and more miles on it.
Well the good thing is taht I can sell alot of my stuff on my car...right? Oh well. thanks
Keith
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Old 11-16-2000, 02:30 PM   #7
Radio Flyer
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Join Date: Oct 1999
Chapter/Region: SWIC
Location: Albuquerque, NM
Vehicle:
'98 2.5 GT Wagon
Rio Red

Exclamation

Keith - Bear in mind, I've not looked up any official numbers...

Your trade in: You'll get more money for your car by selling it yourself than you'll ever see selling it as a trade-in. It should be enough to make up for the amount you're upside-down... You'll also have paid it down a bit more come March when the Rex will be out...

The cost of the new car: The general expectation is that the price will be nearer to $25K. Let's get optimistic here!

Financing: Shop around for the best rates (when the time comes). You can go to here for a free online calculator. There're others out there...


  - Eric
    '98 2.5 GT Wagon - Pics - Page -
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Old 11-16-2000, 02:35 PM   #8
Black98RS
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Location: West Branch, IA, USA
Post

I will have to go with Radio Flyer, here and say, "Lets get optimistic, here people!"

SOA will not be selling very many WRXs at 28k.

I also think the MSRP will be closer to 25.
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