Is 600$ a month to much for a 2013 hatch limited?
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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; With a 10000$ down payment and and the best deal the owner claims he can give me, it is 600$ ...

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    Is 600$ a month to much for a 2013 hatch limited?

    With a 10000$ down payment and and the best deal the owner claims he can give me, it is 600$ a month. I live in Canada by the way, any thoughts. This is a wrx from the dealership.

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    Captain James of the SS Impreza has gone down with the ship Drews's Avatar
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    Holy crap. You're deferring $10000 of the cost and payments are still that high? That sounds like a ridiculously high rate on the loan.
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    Registered User wrxnguyen's Avatar
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    I put 20k down and financed the rest. I stretched it over 60 months but I'll pay it off within the year. My monthly payment is less than $150 /month

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    The msrp 36 395$ here in Canada, seems high

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    Registered User ker2's Avatar
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    What's ur Apr %

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    MAINEiac 11blackSTi's Avatar
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    Not sure what your situation is, but if you are young and/or don't have good or any credit, it might be worth it to see if you can get someone (like your parents) to co-sign on the loan. It is still your car, but you might qualify for a better interest rate. Clearly you are getting a high interest rate. Have you looked into buying in the US and shipping/driving back to Canada? I mean our MSRP is $10K less than that. I don't know what the taxes are for doing that, but it is worth looking into.

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    That's insane!!

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    Registered User Liquid2k's Avatar
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    36K is on par with MSRP around Canada for a hatch. The problem lies with your APR%.. dealerships have specific banks they usually negotiate a lower interest rate with, Subaru typically deals with BMO from what I understand, and 5.99% is likely the best they will do on a WRX. Alternative options are no better, an open auto loan from any bank in Canada will be ~10%!! which is outrageous. You may have luck talking to your insurance provider, for example: State farm offered me 1% less on my interest rate to finance directly through them instead. Having your parents co-sign should not make any difference on the APR%. Its completely different from dealing with a company like Ford who has their own in-house financing.

    As for buying in the US, the problems you may encounter are as follows: US-Cdn conversion rate will be in the banks favor, therefor $10k less is more like $7k or less, then add on tax for whatever province you live in 13-15%, and because the car is made in Japan (which is not part of NAFTA) Canada Customs will add another 5% duty fee on top, even though the car was purchased in the US. Next, if you have any warranty issues, be prepared to pay up front and file a claim through SOA instead of SOC (heard this can be problematic)

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    Registered User A265's Avatar
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    You never specified the term length. Honestly, you should make this decision yourself. Ask yourself questions can you afford 600 a month? Get information from the dealer to why it's 600 a month, APR, added costs, etc. Are they giving you any discounts? If your doubting the price, drive to a other dealership, I know there's one 1.5 hours away.

    Keep in mind your asking a question about something that's pretty variable since most users here are in different locations and mainly in the US. Also APR changes every so often, when I financed my STI apr was 4.9 for 5 years, it's now at 1.9

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    No.... $10k down and $600/ monthly? Something is wrong there..

    R u financing for 3,4,5,6 yrs??
    Whats your apr?

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    Registered User A265's Avatar
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    Quote Originally Posted by tigastt View Post
    No.... $10k down and $600/ monthly? Something is wrong there..

    R u financing for 3,4,5,6 yrs??
    Whats your apr?
    He's in Canada, also in his province there's 13% tax it all adds up. This is why I don't think it's a good idea to ask this question here. People are going to say any price he gets in his province is high because they are comparing to prices in the states, the land of the cheap WRX.

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    Registered User Liquid2k's Avatar
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    Quote Originally Posted by A265 View Post
    He's in Canada, also in his province there's 13% tax it all adds up. This is why I don't think it's a good idea to ask this question here. People are going to say any price he gets in his province is high because they are comparing to prices in the states, the land of the cheap WRX.
    I agree with A265, comparing prices/interest in Can. vs US. is unrealistic... DesertAngle needs to compare prices between dealerships (in Canada) and interest between Canadian lenders as well (dealership vs bank). Maybe try looking at a base sedan instead of a premium hatch as well..

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    Registered User A265's Avatar
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    Quote Originally Posted by Liquid2k View Post
    I agree with A265, comparing prices/interest in Can. vs US. is unrealistic... DesertAngle needs to compare prices between dealerships (in Canada) and interest between Canadian lenders as well (dealership vs bank). Maybe try looking at a base sedan instead of a premium hatch as well..
    I would go as far to compare prices within the same province, I'm sure prices in Ontario is cheaper than in NB.

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    Quote Originally Posted by A265 View Post
    You never specified the term length. Honestly, you should make this decision yourself. Ask yourself questions can you afford 600 a month? Get information from the dealer to why it's 600 a month, APR, added costs, etc. Are they giving you any discounts? If your doubting the price, drive to a other dealership, I know there's one 1.5 hours away.

    Keep in mind your asking a question about something that's pretty variable since most users here are in different locations and mainly in the US. Also APR changes every so often, when I financed my STI apr was 4.9 for 5 years, it's now at 1.9
    1.9% interest for 5 years

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    MAINEiac 11blackSTi's Avatar
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    Quote Originally Posted by DesertAngle View Post
    1.9% interest for 5 years
    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.

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