So i went to buy a Mitsubishi EVO today...
#49
07-07-2004 | 07:12 AM
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Evo's
Gentelmen I have said car-
I shopped it agianst and M3, S2k, IS300, STI before I bought it and unless any of you are seasoned professional racers the EVO is far superior to all of those cars except the M3. The only place the EVO will pain you compared to the S2k is ride quality. Performance wise there is no contest.
On to you stealership issue. Most mitsu dealers are used to dealing with first time buyers and people with ****ty credit they are excited for C-paper. So they try to put every one together. starting with MSRP.
I bought mine for under, 450 under invoice, with out the back and forth. Your getting raped agian on money factor, they are assuming you have a credit score around 500. Pick up the phone and pit a couple of these guys against each other.
Or better yet...pony up and buy it you can get rates under 4% then you can tune it....there is something addicting about a 400 hp awd grocery getter. Tunning on evos unlike porsches is really cheap.
I shopped it agianst and M3, S2k, IS300, STI before I bought it and unless any of you are seasoned professional racers the EVO is far superior to all of those cars except the M3. The only place the EVO will pain you compared to the S2k is ride quality. Performance wise there is no contest.
On to you stealership issue. Most mitsu dealers are used to dealing with first time buyers and people with ****ty credit they are excited for C-paper. So they try to put every one together. starting with MSRP.
I bought mine for under, 450 under invoice, with out the back and forth. Your getting raped agian on money factor, they are assuming you have a credit score around 500. Pick up the phone and pit a couple of these guys against each other.
Or better yet...pony up and buy it you can get rates under 4% then you can tune it....there is something addicting about a 400 hp awd grocery getter. Tunning on evos unlike porsches is really cheap.
Last edited by prodrive121; 07-07-2004 at 07:16 AM.
#50
07-08-2004 | 03:20 AM
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^^^ that's exactly how I got mine at invoice... love the car to death. gotta love that with only like 3-4K into them you can be well into the mid to high 300WHP range. I'm a huge porsche fan but all the P cars I wanted were just a little out of my range, so I got the evo and don't regret it for a second...
#51
07-08-2004 | 04:50 AM
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Originally posted by offroadr35
you're clearly not listening to what im saying and there is no other way to say it so i suppose we will agree to disagree. obviously my tactic wasn't very "financially irresponsible" as it left me with an acceptable amount that is 60% of what the dealer came up with.
you're clearly not listening to what im saying and there is no other way to say it so i suppose we will agree to disagree. obviously my tactic wasn't very "financially irresponsible" as it left me with an acceptable amount that is 60% of what the dealer came up with.
Can somebody explain to me why it's not the case. What's the difference if the dealer is selling the car for $40K with $30K residual vs $30K w/ $20K residual if you plan on keeping it for the full term of the lease? IMO, there is nothing wrong with letting the dealer do what he wants with the numbers as long as he gets the payment down (again, assuming you keeping the car full term).
#54
07-08-2004 | 05:03 AM
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Originally posted by mehrabani1
I just checked... you can get a 2004 745i for LESS than that Evo... now thats some funny ****
I just checked... you can get a 2004 745i for LESS than that Evo... now thats some funny ****
I just ran it in my head he should be able to buy the car even at there lowest possible list in less than 48months w/drive off.
Further more from my days selling cars I can tell you that 39 months is not financially ever a good idea, it a ploy used by car sales people to get you to focus on a minorly lower payment and ingnor other costs that are incured by the buyer that are not included in the payment. but hey focus on payment if you want those were the easiest people to make money off of in that line of work.
#56
07-08-2004 | 05:23 AM
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Originally posted by prodrive121
but hey focus on payment if you want those were the easiest people to make money off of in that line of work.
but hey focus on payment if you want those were the easiest people to make money off of in that line of work.
there is no magic in time value of money, and in order to properly evaluate the deal you gotta know what you need to pay and when. if payments are your only obligation, what's wrong with focusing on the payment amount? the lower, the better - pretty simple really!
#57
07-08-2004 | 05:36 AM
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Originally posted by Mafia
ok just out of curiousity how exaclty does the dealer make money out of the payment??? here is an extreme scenario to illustrate my point: lease payment $200 for 39 months, let's use 4% as a discount rate (use higher if you'd like but it'll only lower present value). today this payment stream is worth ~$7,300. how is the dealer going to make money here???
there is no magic in time value of money, and in order to properly evaluate the deal you gotta know what you need to pay and when. if payments are your only obligation, what's wrong with focusing on the payment amount? the lower, the better - pretty simple really!
ok just out of curiousity how exaclty does the dealer make money out of the payment??? here is an extreme scenario to illustrate my point: lease payment $200 for 39 months, let's use 4% as a discount rate (use higher if you'd like but it'll only lower present value). today this payment stream is worth ~$7,300. how is the dealer going to make money here???
there is no magic in time value of money, and in order to properly evaluate the deal you gotta know what you need to pay and when. if payments are your only obligation, what's wrong with focusing on the payment amount? the lower, the better - pretty simple really!
-Steve
#58
07-08-2004 | 05:40 AM
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It is actually pretty simple but when you get 4 things going at once people loose sight of things, the goal of that stupid 4 square pad they have. Simple focus on payment will result in something like
"hey if you go to 39 months I can cut your payment 10 or 15 dollars"
person buying car bites on lower payment but doesnt realize deal has not lowered payment an equivolent amount. Essential focusing on payment is like treating the symptoms not the cause, and thats how people in general who focus on payment get burned.
Your cash flow might be a great wqy to buy but if I found way to manipulate the numbers to get the payment down to 375 my cost but you were just focused on payment and gettting it into your range you would notrealize you were getting taken for a ride. It may not be the case for an educated group like those here, but in general people focusing on payment get taken the worse and the guys worried about OTD pricing got the best deals.
"hey if you go to 39 months I can cut your payment 10 or 15 dollars"
person buying car bites on lower payment but doesnt realize deal has not lowered payment an equivolent amount. Essential focusing on payment is like treating the symptoms not the cause, and thats how people in general who focus on payment get burned.
Your cash flow might be a great wqy to buy but if I found way to manipulate the numbers to get the payment down to 375 my cost but you were just focused on payment and gettting it into your range you would notrealize you were getting taken for a ride. It may not be the case for an educated group like those here, but in general people focusing on payment get taken the worse and the guys worried about OTD pricing got the best deals.
Last edited by prodrive121; 07-08-2004 at 05:43 AM.
#59
07-08-2004 | 05:42 AM
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Originally posted by prodrive121
It is actually pretty simple but when you get 4 things going at once people loose sight of things, the goal of that stupid 4 square pad they have. Simple focus on payment will result in something like hey if you go to 39 months I can cut your payment 10 or 15 dollars person buying car bites on lower payment but doesnt realize deal has not lowered payment an equivolent amount. Essential focusing on payment is like treating the symptoms not the cause, and thats how people in general who focus on payment get burned.
It is actually pretty simple but when you get 4 things going at once people loose sight of things, the goal of that stupid 4 square pad they have. Simple focus on payment will result in something like hey if you go to 39 months I can cut your payment 10 or 15 dollars person buying car bites on lower payment but doesnt realize deal has not lowered payment an equivolent amount. Essential focusing on payment is like treating the symptoms not the cause, and thats how people in general who focus on payment get burned.
#60
07-08-2004 | 05:44 AM
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