Payments on an EVO

[JeSsToNeS]

I was thinking about buying an EVO 8 when i get my full time job in about 2 months. Me and my friends were talking about payment methods and one of my buddies told me to NOT take out a loan but pay the dealership (and might be cheaper) and not to have full coverage on insurance (he said i might not need it). I was wondering Is this possible to pay the car dealership instead of a bank for taking out a loan?

[lamehonda]

You would have to be an IDIOT not to take out full coverage on an evo unless you had 30 grand sitting in your bank account after you bought it. if you hit a tree with it, do you have 15 grand to shell out for it? What do you mean by pay the dealership?

[JeSsToNeS]

Instead of taking out a loan from the bank and paying them back montly, Could I just pay the Dealership montly for the car. That way i dont have to deal with the banks BS or whatever for the loan. I thought the non full coverage insurance deal was a little bit.........retarded.

[lamehonda]

You will finance the car from mitsubishi, not the dealer. Yes, I would suggest that you get the loan from the manufacturer instead of a bank. How old are you, because the evo is a very dangerous car to drive unless you have good impulse control. I'm 20 and I would be drifting around every dirt corner. It doesn't matter how good of a driver you are, if you drive fast you will eventually get into an accident (race car drivers)

[JeSsToNeS]

Im 20 years old and If im paying this much money for a car, im not gonna be wreckless with it or get into any situation where i could mess up the car really badly. Im gonna baby that thing till it dies IF I do get the car. Do you know if Mitsubishi makes any performance parts (ralli art?) for the evo that doesnt void warrenty, kinda like TRD for toyota or scion?

[lamehonda]

....funny u spelled it WRECKless.....

Don't know alot about evos
maybe someone who does will come along

Good Luck

[JeSsToNeS]

So how do I go about getting the manufacturer to give me a loan? Do I just go to my local or near buy Mitsu dealership and ask them or what?

[JeSsToNeS]

So how do I go about getting the manufacturer to give me a loan? Do I just go to my local or near buy Mitsu dealership and ask them or what? Right now Im pretty serious about buying an EVO or a WRX when I get into this new job i have lined up.

[lamehonda]

get the wrx, less money to buy and insure. and the engine isn't taking so much of a beating from the turbo

[mellowboy]

About the loans. Go find the best place to give you the lowest interest. Not all manufactuers have great deals.I'm werkin on to get an EVO. Hopefully i get it next month. To save all the hassle on the high monthly payments...i'm putting 10-13 grand as a down payment. SO it really depends on your credit. Your question cannot really be answered. Just how much you thinkin about puttin it down? The more you save up for a down payment , the higher chance you'll get the car.

[04EVOGSR]

when you go to the dealership ask them about first time buyer programs that the manufactuer might have. You can usually get a better rate, but whenever you finance a vehicle I'm pretty sure that it is required to have full coverage on a vehicle at least that is how it has been everytime I've bought a car.

[04EVOGSR]

Yes it is cheaper to get a wrx as long as it is the standard one and not the sti cause if you go with the sti you will actually pay a couple grand more on the price and more on the insurance

[Stanimal]

If you have good credit, Mitsu would most likely have the best interest rate for their car. You would arrange the loan through the dealership at the time of purchase. Also, Mitsu is offering, through 8/31/04, a $500 cash rebate off the purchased price of any model EVO if you are a current Mitsu owner and another $500 cash rebate for college seniors or recent graduates. If you don't ask, you won't get the rebates.

Regarding insurance, they will require proof of full coverage insurance as part of the terms of the loan.

Also, just a FYI, I often see discounts of $2-$3K (this is above and beyond the discount mentioned above) on the EVO. I bought my EVO 8 4 months ago at $26,100 or $3100 below MSRP. Obviously, this type of deal is only good for the one vehicle they have on sale. However, with that in mind, you should have no problem getting $1000-$1500 off of MSRP on any standard EVO 8’s of your choice. Note, you most likely will not be able to get any discount on the newer RS model and the dealer will likely demand a premium on the 2005 EVO 8 MR once they are available.

Also, please note, if you decide to save some money and buy a used EVO, Mitsu will reduce the length of the warranty with any change of vehicle ownership. I believe it gets reduced to 3 years 36,000 mi.