Plan on buying a 2017 subaru wrx, price is 26,500 on it, has 14k miles on it and is in great condition, looks new.
Finance guy originally came at me with a 72 month at 450 a month with a 5k down payment, with the interest rate being at 5.76 (I had to get my dad to sign as co owner with me, he has great credit, i just don't have enough). Some of these numbers may not be 100% but in the end I would of ended up paying around 10k more after the loan was paid off.

After some talking we got down to 525 a month for 60 months with a 3k down payment at 3.49% interest rate which is around 8k more after loan is paid off. He even offered to throw in a Subaru warranty at 7 years for 70k miles bumper to bumper that the salesman I met in parking lot told me could cost around 2k if I wanted to get that added.

Main questions I have is can they go lower than 26500 on the car? kbb fair price chart says that is a good price on the car and as we were about to leave he tried to talk to a higher up but they ended up saying that's the trade in value and couldn't go lower on it.

Also is that way too much to be paying in the end after the loan is paid? would a better option be to see if i can get a better deal on a car loan from my bank? and if I did would they take away their offer on the warranty for the car? because it only has its factory 3year/36k mile warranty that is not bumper to bumper, which I want a good warranty since its used even though only 14k miles.

Any advice would be nice on this, also if anyone has a 2017 wrx would love to pm you other questions about the car
What are the chances they call me back and try to throw me another offer or try to get me back in there? I told them I need to take some time before I make this big purchase and look around more first.
Another thing is the guy told me the tires are summer only and recommends getting all season tires which is another thing I'm going to have buy also
On top of that subaru dealerships are 30 min drive from where I live so thats a decent drive for service that does not give free oil changes from them.

This post was edited by Hboy on Apr 22 2018 01:29am

Why dont you buy brand new at 0.9% interest

if I am not mistaken, special interest rates, such as 0.9%, are still subject to credit ratings.



It sounds like this car is going to cost you a LOT of money. That's a hefty car payment, can you support that? Do you have the ability to pay more than the monthly payment?

I purchased my car new, did a 6 year loan at 2.9% (didn't shop around), but paid it off in 2 years. I saved myself money by paying extra principle monthly.

WRX hold values well, depending on the model, that seems like a decent price. If that's a premium, you should just buy a new premium. If that's a limited, you probably won't get a better deal. Based on a quick nationwide search, you POSSIBLY could get them another $500 (if we are talking limited model).

I think we need to know if this is a limited or premium model, and what you can actually afford monthly. I'm not trying to tell you what to do, but throwing all your money at a car isn't ideal. Also, work on your credit score by responsibly ONLY using your credit card and don't carry a big balance that will kill you with interest.

Yes forgot to mention it was the limited one.

Also if I buy a new one why does the interest rate go down so much? Is that with a huge down payment? And since the new ones are like 28k msrp (basic ones) then they can go lower than that right?

Also around 500 a month is what I was looking to pay on it and can afford it.
Another reason I mentioned the tires was maybe try to get them to throw those in, at around 150-200 a tire that would only be 600- 800 they throw in but they prob charge a lot for their tires.

This post was edited by Hboy on Apr 22 2018 08:56am

pretty decent price for a limited. If you do manage to get them to throw in the tires, you would be set.

Dealerships want people do buy new cars, because they "depreciate" right when you drive them off the lot. That's why they will offer lower interest rate for brand new.

have you tried to get the loan through a credit union?

those loan numbers for a 2017 seem extreme to me.

I have not, that's why I walked, to see what I could get on a loan.

I would 100% purchase a brand new car versus the deal you have permanently.

You aren't getting raped in interest (depreciation is a factor however), and you will know what has happened to that car since it came off the dealer's lot new. Purchasing a sports car used for 30k is just not something I would do as you never know how someone drove it prior to you, and I find it kind of strange that someone only drove a car for one year before getting rid of it.

People only drive cars for 1 year ALL the time. Why? I don’t know, but there’s already 2018 wrx on the market with over 10k miles.

Yea it’s something I forgot to ask him myself, if he knows any reason why guy returned it after 1 year. Maybe see if he got a upgrade from that dealership or what happened.

As far as not knowing how the previous driver maintained it do they keep records of the service history at that service center because the guy said previous owner brought it there to do maintenance.

Also how much damage could you do in 1 year of having the car? That’s why I’m glad he added 7 year bumper to bumper warranty during negotiation.

He already called me back about lowering interest and payments. This is a great time to tell him my concerns that I thought about and for sure the tires being for summer only.

This post was edited by Hboy on Apr 23 2018 08:39am