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YACT: Am I nuts?

Vic

Vic

Elite Member
I own an '03 WRX with only 10,300 miles on it. I just made the 7th payment.

I test drove an Evo at lunch today, and I have an appt. to test drive an STi tomorrow.

edit: and I'm seriously considering buying one :Q
 
changing cars every 3 years or less is losing money, in this case it would be completely nuts. especially since you're not low mileage, in which case you might have gotten a good private sale price.
 
Originally posted by: ElFenix
changing cars every 3 years or less is losing money, in this case it would be completely nuts. especially since you're not low mileage, in which case you might have gotten a good private sale price.
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Actually, I've already researched this. I bought the WRX for below invoice and had 0%interest 3 year financing with no down. The Mitsu dealer has already said they would take the WRX in trade for what I owe on it. I'd only lose my payments.
And they'd sell me the Evo for $29k fully loaded. :Q😀
 
Originally posted by: Vic
Originally posted by: ElFenix
changing cars every 3 years or less is losing money, in this case it would be completely nuts. especially since you're not low mileage, in which case you might have gotten a good private sale price.
Click to expand...
Actually, I've already researched this. I bought the WRX for below invoice and had 0%interest 3 year financing with no down. The Mitsu dealer has already said they would take the WRX in trade for what I owe on it. I'd only lose my payments.
And they'd sell me the Evo for $29k fully loaded. :Q😀
Click to expand...

yeah, but then you'd be driving a mitsubishi
 
Originally posted by: Vic
Originally posted by: ElFenix
changing cars every 3 years or less is losing money, in this case it would be completely nuts. especially since you're not low mileage, in which case you might have gotten a good private sale price.
Click to expand...
Actually, I've already researched this. I bought the WRX for below invoice and had 0%interest 3 year financing with no down. The Mitsu dealer has already said they would take the WRX in trade for what I owe on it. I'd only lose my payments.
And they'd sell me the Evo for $29k fully loaded. :Q😀
Click to expand...

How much have you made in payments?
 
Originally posted by: ElFenix
yeah, but then you'd be driving a mitsubishi
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True 🙁

But damn, it drives nice. All I can say is that all the reviews are true.
 
Originally posted by: Vic
Originally posted by: ElFenix
changing cars every 3 years or less is losing money, in this case it would be completely nuts. especially since you're not low mileage, in which case you might have gotten a good private sale price.
Click to expand...
Actually, I've already researched this. I bought the WRX for below invoice and had 0%interest 3 year financing with no down. The Mitsu dealer has already said they would take the WRX in trade for what I owe on it. I'd only lose my payments.
And they'd sell me the Evo for $29k fully loaded. :Q😀
Click to expand...

Keep a REALLY close eye on the paperwork if you do go through with it. I traded in my last car with negative equity (IE: owing more than it's worth trade-in.. sound familiar?) and they made it sound like a deal by telling me they would take the trade-in for just under $14k. To say the least a 2002 Sentra GXE is not worth that much! The negative equity went right into the price of the new vehicle. No dealership will ever sell a car and take a trade-in if they won't make money on it, and buying a car for more than even the private party bluebook value is not going to be a profit for the dealer.
 
Holy smokes, I knew a guy like you once.
Always had to one-up people. Had to own the best. Had to own the most. Ran out of money and cried about it.
Be content dude, you have a nice reliable car. Use it for a couple years till something new and radical comes out, instead of just a slight upgrade to what you currently have.
 
Originally posted by: Thoreau
Keep a REALLY close eye on the paperwork if you do go through with it. I traded in my last car with negative equity (IE: owing more than it's worth trade-in.. sound familiar?) and they made it sound like a deal by telling me they would take the trade-in for just under $14k. To say the least a 2002 Sentra GXE is not worth that much! The negative equity went right into the price of the new vehicle. No dealership will ever sell a car and take a trade-in if they won't make money on it, and buying a car for more than even the private party bluebook value is not going to be a profit for the dealer.
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Take my word for it that I am highly educated in finance documents. It's what I do for a living.

I know what you're talking about though. But (believe it or not), I'm not upside-down in the WRX. I bought it loaded for $23.5k and I've made ~$4k in payments on it. Book trade in value on it right now is $19.5k.
Yes, I would lose money, but only what I have in it. My big dilemma on all this is that I'm dissatisfied with the WRX. To make it the way I want it, I'd need to dump a minimum of $5k in mods on it, but that would most likely toast my warranty. Getting an Evo or STi is a legitimate alternative.

notfred was right 🙁
 
Originally posted by: RedRooster
Holy smokes, I knew a guy like you once.
Always had to one-up people. Had to own the best. Had to own the most. Ran out of money and cried about it.
Be content dude, you have a nice reliable car. Use it for a couple years till something new and radical comes out, instead of just a slight upgrade to what you currently have.
Click to expand...
Believe it or not, that's not the case. It's about me and my love of driving, not what other people think. Just trying to be happy behind the wheel. <edit> and like I said "Am I nuts?" I assume your own answer would be yes. No biggie, I'm wondering that myself. If it makes you feel better, I might not do anything at all and just keep my WRX the way it is. That is certainly one of the options I am considering.</edit>
I owned my last car for almost 6 years.

Jejunum, I post on both nabisco and i-club under the name "rexpdx"
 
Originally posted by: Vic
Originally posted by: RedRooster
Holy smokes, I knew a guy like you once.
Always had to one-up people. Had to own the best. Had to own the most. Ran out of money and cried about it.
Be content dude, you have a nice reliable car. Use it for a couple years till something new and radical comes out, instead of just a slight upgrade to what you currently have.
Click to expand...
Believe it or not, that's not the case. It's about me and my love of driving, not what other people think. Just trying to be happy behind the wheel.
I owned my last car for almost 6 years.

Jejunum, I post on both nabisco and i-club under the name "rexpdx"
Click to expand...

Do you find yourself outdriving your car, on the street? I can't imagine a WRX not being enough car for street driving. Be careful, you sound like you'll tire of the STi fairly soon too, then you'll need an RS6 or something. And then more and faster.... 🙂

 
Originally posted by: RedRooster
Do you find yourself outdriving your car, on the street? I can't imagine a WRX not being enough car for street driving. Be careful, you sound like you'll tire of the STi fairly soon too, then you'll need an RS6 or something. And then more and faster.... 🙂
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You make a valid point. 🙂
I can outdrive the tires and suspension (the WRX in stock form is drastically under-tired with an overly "cushy" suspension), but that's an relatively inexpensive fix, and one that shouldn't cause too much trouble with the warranty. I guess one of my biggest concerns is the so-called "glass" tranny, but mine hasn't been causing me any problems except the usual notchiness.
For those who don't know, the Evo has a VERY notchy tranny itself. The test drive car lightly snicked 3rd gear everytime, and (when I was pulling back up the driveway into the dealer's lot) clunked pretty damn hard going into 1st at ~3mph w/rev-match.
 
Yes you are, you're going to take a FILTHY bath with that WRX on resale. You just worked in the sweet spot for resale drop too...10 thousand miles and 7 months is about perfect because there is just absolutely no denying the fact now that the car is used (vs, say 1-2 months and a few thousand miles it's barely used), and you still owe almost the entire amount.
 
Ah I see you're not upside down. Still, my original post stands with a slight modification. Whether you're upside down or not the worth of the car 7 months ago is much higher than it is now. You have 0% and a three year loan...I'd just pay that buggar off (Perhaps even mimic the payments of an evo or STI and overpay, so that it's done in 2.5 years), and then once it's off THEN trade it in. Unfortunately if you don't excercise some self-control now how can you assure yourself that you won't want to trade in the STI/EVO in 6-12 months for something even better...?

In regards to it requiring $5k to make it what it's worth if you HAVE to have the car at that point, do not upgrade it (never make your money back) and just go ahead and get the evo or sti (get the STI - evo is ricer boy who lives with his mom and spends 90% of his paycheck on the car, whereas STI is a cool dude 😀), but what if you then end up thinking you'll need another $5k into the sti to get it where it has to be? 😉
 
Originally posted by: Nocturnal
What do your payments look like every month? I'm assuming 800.00??
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I estimate around $700. That is seriously rude, but I guess if you're making good money it would be nice to have a 3 year old car that's totally paid off, and still pretty sweet...

 
actually about $600/mo., but my insurance is only $110/mo. (full coverage 100/300/100 2 cars, 2 drivers) and yeah I make pretty good money, my GF does alright herself (although a little less than half what I make), and we have no kids.
 
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