I shoulda got a WRX - Subaru WRX Forum
 
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post #1 of 14 Old 09-10-2003, 08:55 PM Thread Starter
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Unhappy I shoulda got a WRX

Hey I'm a total noob here so be nice.
I just bought a new Mitsu Lancer OZ rally. I gotta good deal, 0 down, 309 a month. Problem is I am underwhelmed with the Hp and wish I would have done more research before jumping into it. I think the WRX's tottally freaking rock and now I want one. Tell me what you think, should I trade in my car, I have only put like 600 dollars into it and I make pretty good money and live at home. I would be able to handle 350 or maybe a little bit more. What consequences or repurcutions will I have to face for terminationg the other contract if I do trade it in for a WRX? I live in CA if that helps.
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post #2 of 14 Old 09-10-2003, 08:58 PM Thread Starter
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I also forgot to mention that I would now be able to put about 4000 down.
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post #3 of 14 Old 09-10-2003, 09:11 PM
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It depends on the terms of the contract. I dont think you can just back out of a contract, but I think you might be able to make a deal with the dealer.

Che
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post #4 of 14 Old 09-10-2003, 10:34 PM Thread Starter
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Do you mean a deal with the Mitsu or Sub. dealer? If I am out what little I have put into the OZ, that would be fine as long as I dont have to like, pay any early termination fees or anything. I am not sure how it all works actually. That's why I posted on here hoping to hear more replies from ppl. who have had experiences trading in vehicles and/or dealing with Subaru.
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post #5 of 14 Old 09-11-2003, 12:21 AM
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Well, did you buy or lease? If you bought, just go the the Subaru dealer and see if they'll give you close to the deal you need to break even on the Lancer OZ edition ( :eek: ) or go to the Mitsu dealer and see what they'll give you.

If it's a Lease, I have no clue.

Blue
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post #6 of 14 Old 09-11-2003, 03:20 AM Thread Starter
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I bought. I really rushed into it though. I needed a car bad because my truck just wasnt cutting it anymore, I didn't have money for an Evo but I liked the looks of them so I settled for a Lancer. I like the car and everything and if I have to keep it I am not going to be bummed, but the WRX is more my speed. I have hardly any money in on the Lancer so if I can get anything out of it that'd be cool but I'm just afraid I will have to pay a bunch extra to make up the trade-in difference. That would suck because it's like I'd be paying for a car I wouldnt own. I'm not sure how all of this works exactly. I'll hit up Selma Mitsu and Fresno Subaru Friday. Thanks for the replies though
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post #7 of 14 Old 09-11-2003, 10:52 AM
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Well go ahead and see what happenes with the dealer. I wish you the best of luck with it. Hopefully you will get a Wrx if you work something out. I think this kinda teaches a lesson , dont you think? heh

Mike
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post #8 of 14 Old 09-11-2003, 11:10 AM Thread Starter
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I'm just an impatient kind of guy
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post #9 of 14 Old 09-11-2003, 11:14 AM
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In my recent dealings with getting new cars, I've always found that you are going to make more $$ if you sell it yourself, and not trade it in. It may take more time, but I think it's worth it. But check out what kind of trade in value they'll give you.

Tim
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post #10 of 14 Old 09-11-2003, 11:24 AM Thread Starter
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Yes thats very true. Im pretty sure the Kellly Blue Book for Lancer's is really low too. But the problem is I still owe a lot on the OZ since I have only really made a few payments, so even then I wouldnt be able to sell it for how much I owe. If I were to just trade it in and start from scratch on a WRX that wouldnt be so bad because I have very little money on the OZ and I think it's worth it.
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post #11 of 14 Old 09-11-2003, 01:20 PM
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Well I got a question for you, which is that how much did you get the lancer OZ for? How much is the Wrx that you are looking for? That is tru you should self it your self like at autotrader.com or something. See what happenes tho. Good luck

Mike
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post #12 of 14 Old 09-11-2003, 02:28 PM
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Hey man, I won't sugarcoat it for ya. Whatever you do now, you're going to loose money no matter what. If u got a really really really good deal on the lancer, u may be able to come out even, but I doubt it. When dealing with new cars, you're always gonna loose money, and thats how the story goes. However, new WRXs go for like 24-25. I got my new 03 that was still on the lot for 21,700 which is pretty good. But yea, the WRX and lancer OZ arent even the same car. WRX is the most amazing car ever, and if its really worth losing money, go for it. I promise you wont be dissappointed.
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post #13 of 14 Old 09-11-2003, 09:28 PM
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yeah, that $4000 you can count on eating that in finance charges. also, when you trade your car back in, the dealer is not going to give you near what your sticker price was, they have to make money... even if you go back to mitsu, same story, they have nothing to do with your car anymore. i've been in that same situation... had to wait 2 years before my total loan and value of my car was about even to get the car i wanted.

Shaune
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post #14 of 14 Old 09-11-2003, 11:16 PM
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Your best bet is to trade in the Mitsu and buy the WRX. What is really the deciding factor is how long you've owned the Mitsu. Call your bank and get a 10 day payoff balance. This is what they need for you to be free of the car. If this is more than the trade in value you will actually owe money for the Mitsu based on the payoff balance vs the trade in credit. The 4K you can put down ought to take care of this discrepancy though, and hopefully dent the cost of the WRX.

This was the boat I was in when my wife and I traded in her Kia on our WRX. Every day I drive the WRX I thank God for Subaru!

Speed costs money. How fast do you want to go?
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