Is 600$ a month to much for a 2013 hatch limited? - Page 2
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This is a discussion on Is 600$ a month to much for a 2013 hatch limited? within the Car Purchasing Forum forums, part of the ClubWRX.net Marketplace category; MSRP is the same, but he may have luck checking with dealerships within neighbouring Provinces to see if they have ...

  1. #16
    Registered User Liquid2k's Avatar
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    MSRP is the same, but he may have luck checking with dealerships within neighbouring Provinces to see if they have any left over 2012 models that are discounted considerably. I got my 2011 in Mar of 2012 and saved $4k off msrp for that reason. A lot of WRX buyers in Eastern Ontario drive to Gatineau, Quebec because Accueil - Subaru Outaouais situé à Gatineau, Quebec, Canada will apparently discount below MSRP.

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  3. #17
    Registered User Liquid2k's Avatar
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    Quote Originally Posted by 11blackSTi View Post
    That just doesn't add up. Are they including something in the financing other than the cost of the car? I mean $30K at 1.9 for 5 yrs is ~$525/month.
    $36,395 + $1595 (freight/delivery) = $37,990
    $37,990 x 1.13 (tax) = $42928.70
    42928.70 x 1.0599 (5.99% APR) = $45500.12 - $10000 = $35,500.12

    $35500.12 @ 60/mon is $591.66/mon (~$600/mon)

  4. #18
    Registered User A265's Avatar
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    Yeah it would be a good idea to check other dealers, check as far as your willing to travel.

  5. #19
    MAINEiac 11blackSTi's Avatar
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    Quote Originally Posted by Liquid2k View Post
    $36,395 + $1595 (freight/delivery) = $37,990
    $37,990 x 1.13 (tax) = $42928.70
    42928.70 x 1.0599 (5.99% APR) = $45500.12 - $10000 = $35,500.12

    $35500.12 @ 60/mon is $591.66/mon (~$600/mon)
    You are right...Us 'merican folk don't have any knowledge of your taxes up there, which might I add appear to blow.

    Isn't the APR 1.9%? I think the $35K figure you are using wouldn't be correct because you are only calculating one year of interest, where you would want to use an amortization table, which would show ~$577/month (if you back out your APR add in). Still pretty expensive.
    Last edited by 11blackSTi; 07-19-2013 at 07:53 AM.

  6. #20
    Registered User Liquid2k's Avatar
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    True enough, it was just rough math to show an approximation... and Interest rates could have very well changed to 1.9% through the dealer.. either way the numbers will still be high..

    ****Government regulation provides that the Informational APR (1.9%) includes the cash customer incentive which is only available to customers who do not purchase finance/lease through Subaru Financial Services, as a cost of borrowing. If you would like to lease or finance at standard Subaru Financial Services rates (not special rates), then you may be able to take advantage of Cash Customer Incentives.

    - Bottom line, if you can't afford $600/mon + or - $50, plus insurance costs... plus maintenance and rising $1.50/L gas prices ($5.68/gal for US readers) then you may want to look at alternative options..
    Last edited by Liquid2k; 07-19-2013 at 08:15 AM.

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    The car with tax and everything us about 44k

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    Using excel PMT function 1.9% APR, 1.9/12 monthly interest, 60 payments, interest paid in advance, the monthly payment on 34,000 is 593.52. So $600 sounds about right.

    It also sounds like a lot. I just paid $25,300 for a base wagon, almost exactly $27,000 with taxes, fees, registration, etc.

    If you can manage a trip to Boston (port city for Subaru, prices are lowish here) you should be able to get the same deal. If you must have a Premium, expect to pay $27,500 before taxes, etc.

    But even adding in 20% for customs, provincial taxes, etc. the total for a Premium is $32,400. Let's allow 2,000 CAD for your trip, time, and expenses. Convert your 8,000 CAD to USD and put down $7,700. Now the loan is for $24,700 and the monthly payment is $431, about 446.73 CAD.

    Settle for a base, $25,500 + 20% = $30,600, monthly payment is $399.75, which is 414.32 CAD

    it would definitely be a bit of work to buy from Boston, but it sounds like it could save a lot of money. The dealers here are hungry. I thought my price was pretty good, but one dealer offered to take $500 off that, and drive the car to my house! I didn't do it, but it gives you an idea of how far they are willing to go.

    Truecar.com worked well for me. I didn't actually use their certificates, but I just mentioned the word "Truecar' to the dealer and the price dropped $1500. I ended up paying about $300 more than the lowest figures Truecar.com provided. I might have tried to squeeze the dealer for that last $300, but I was satisfied that I got a good price.

    Good luck!

  9. #23
    Registered User Liquid2k's Avatar
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    Sounds like a pretty decent deal, will American dealers finance to Canadian Customers? Also, keep in mind that banks buy and sell US currency at different rates.. always favoring the bank. For example in Canada, you will see the following: When banks are converting to US Dollar (USD) - We will buy from you at (1.0105) We will sell to you at (1.0645)... this changes things a little.

  10. #24
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    Quote Originally Posted by Liquid2k View Post
    Sounds like a pretty decent deal, will American dealers finance to Canadian Customers? Also, keep in mind that banks buy and sell US currency at different rates.. always favoring the bank. For example in Canada, you will see the following: When banks are converting to US Dollar (USD) - We will buy from you at (1.0105) We will sell to you at (1.0645)... this changes things a little.
    Unless he has good credit history in America (not Canadian credit) he will unlikely be able to get financed through an American dealer. I *believe* this would also require a social security number. My advice would be to get a loan with a cashiers check from a Canadian bank, and use that to buy in the states. But then you have the issue of registration and getting it across the border, which I am completely unfamiliar with.

    I sell cars in Denver, and I still get the occasional Canadian which we can never get a loan for due to lack of American credit, so I'm no help for info about getting registered.
    Last edited by aladeen; 07-19-2013 at 09:57 AM.
    -Alex- 2012 WRX 5dr / World Rally Blue / Stage 3+Stig
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  11. #25
    Registered User Liquid2k's Avatar
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    Registration is not difficult.. the problem then becomes interest rate.. Auto Loans from a Canadian bank are 10%, so it kinda defeats the purpose of saving money.

  12. #26
    Registered User aladeen's Avatar
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    That APR does hurt... But if you can save ten grand on the MSRP difference that should help a fair bit at least. Do the credit unions up there offer any better rates?
    -Alex- 2012 WRX 5dr / World Rally Blue / Stage 3+Stig
    I sell Subarus in the Denver area!

  13. #27
    Registered User A265's Avatar
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    Best rate I found around here is ~6% and I live in the same province as the OP, I also have good credit.

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    Oops, OP was asking about a Limited, my bad. Truecar says $28,000 for a Limited in Boston, 29,000 CAD.

    Same analysis as before, +20% taxes and fees, $7700 down, $25,900 note, 1.9% APR, payments are $452.12, 468.62 CAD.

    At 6% APR, the payments are:
    Base $373.07 386.70 CAD
    Premium $ 440.52 456.68 CAD
    Limited $498.23 516.43 CAD

    Speaking just for me, I went for the base, after test-driving both a premium and a limited.
    Moonroofs leak (soggy bottom boy experience speaking here) and squeak, and get stuck at the worst possible time. You have to drive a car that smells like mold all winter long because the moonroof keeps
    the carpets nice and damp to really appreciate the pros and cons of moonroofs. New Brunswick isn't all that different than Boston; you'll spend a lot more time winter driving than summer.

    The dealer offered to get me after-market leather seats for $1,000 installed. I believe these are new covers for the Subaru seats. I figure to drive the cloth seats for 40k miles then pay for leather; it will feel and smell like a new car.

    There will definitely be some logistics and effort to get the money, registration, etc. details worked out for a cross-border purchase. Others have done it, I think some are on this forum. I haven't so I won't talk about that. I do math, and enjoy driving my new WRX.

    Good luck!

  15. #29
    Luke Skywalker Mikie13's Avatar
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    I would never pay that much for a WRX, regardless of what country it was in...
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  16. #30
    Registered User Liquid2k's Avatar
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    Quote Originally Posted by Mikie13 View Post
    I would never pay that much for a WRX, regardless of what country it was in...

    It`s the same situation with all vehicles though, not just the WRX. Domestic brands like Ford will offer more competetive discounts when their models have been out for a while.. but they also depreciate twice as fast. If you look at it in terms of percentage of personal income, I`m sure the cost works itself out to be similar. I make almost double the salary that I`d make doing the same job in the US.

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