whatsup everyone, well ive been thinking and i want to purchase an evo depending on the price. does anyone know any dealers that have any 03’s for around 20k? ive seen some on ebay going for 20 thousand and i dont wanna spend anymore than that. also if you own an evo how much are your monthly payments? i dont wanna spend anything over 280, i dont know if the dealer could help me with that one tho, any input would be appreciated, thanks!
you couldn’t get a monthly down under $300 w/o money down
20K @ 0% for 5 years = $333/mo
Since it’s a used car let’s be MORE THAN FAIR and say you can get a 7% loan. You’re “magic” number to finance is $14,100 over 5 years giving you a payment of $279.20/mo
In reality though you’re young and it’s used so more like 8.5% so you’re number would be $13,650 or a payment of $280.05 for 5 years
Mine’s for sale, but I’m not going to sell it for $20K
Keep in mind buying an '03 wont get you ACD or the larger turbo, or the stronger tranny, or the front LSD…and it’s a 4 year old car (with an average of 60,000 miles and no warranty, so when you go to sell it it will be a 9 year old car with 135,000 miles)
Sam hooked me up with a dealership in PA on a brandnew evo 9 (GSR) for 29K. I put $18k on it and my payments are $300 a month
Check out evolutionm.net
Sell him yours.
edit: this is for Joe.
well i was asking 3500 for my car but if i could get a loan pre-approved i would sell my car for 2500 and used that as a down payment
i wouldnt suggest buying a used evo, especially if its an 03… if u do, well goodluck lol
i have an 03 evo, monthtly i pay 400. i gave 7k cash up front
Just finance it for 8 years. :tup:
Here, this might help you figure out what you can afford:
http://www.finaid.org/calculators/loanpayments.phtml
Don’t forget about tax.
I wouldn’t finance a used car for more than 4 years. 4 years at $280/month at 7.5% interest makes a principle of $11,600. Take out taxes and you can afford a $10,600 dollar car. Add your trade in and it goes up to $13,100. Not a $20,000 dollar car unless you finance it longer.
I bought my 03 Evo used for $24,500, got a loan for $20,000 for 7 years and I’m paying $350 a month. I’m selling my other car for $7500 and plan on paying a year of the car off with the sellings. Good luck on your search!
7 year loan on a sports car that will be dead in 3? yikes.
i would warn people against financing a used car for more than 3-4yrs maximum (unless you put a large amount down), as often times you will put yourself in a negative equity position.
for those who dont know, negative equity occurs when:
Loan Payoff Balance > FMV of the vehicle
being in a negative equity position can put you in a bind if something unforeseen happens and you need to sell your car.
good luck.
Don’t let these guys crush your dreams, borrow all the money you can, you will wind up working harder at your job. 
X…
lol everyone on here must make really decent money…or have no life outside of their car.
$400 a month car payment + all the mods throw into their cars…
SOUNDS LIKE YOUR TRYING TO BUY A CAR THAT YOU REALLY CANT AFFORD
don’t buy a car you can afford… lol i pay close to nothing for my car every month… my payment is not much than a normal cell phone payment.
i would never want to get a 2nd job or pay off a car for 7-8 years… get something you can afford AND enjoy.
if you assume the following:
20k selling price
21.75k with sales tax
7% car loan
280/month payment
it would take you approximately 8 years and 8 months to pay off a 4 year old car (which by the time you pay it off would be approximately 13yrs old and dead long before then most likely)
no offense, but this is probably out of your price range.
WOW
You’re gonna end up paying like $35,000 for an 03 EVO (or about $6,000 more than I paid for my 05)
Don’t forget insurance, if you’re playing “HAY GUYS” games like this, you are likely young and insurance on an Evo will be ridiculous.