Good Afternoon Guys and Girls,
Heres the deal, try to follow: I am not new around here, yet I no longer own a Subaru. About a year ago I sold my 2004 Subaru WRX with 38,000 miles on it with an 18g setup putting down 311 WHP. The reason I sold it was at the time I had a Sales Job and the company had given me a Company 2008 F150 truck to drive as my daily driver. So the WRX sat in a heated storage facility under a cover and got driven maybe twice a month on amazing sunny days. So I decided to sell the Subaru and pay off my college loans, making me debt free. Was a smart financial choice. Anyways I have since taken a new job, higher salary + living in a new area = I bought a new house. With my new job i negotiated they give me a company car for 4 months, to help with my transition. They pay for gas, the car, and the car insurance … only downside I now drive a 2005 Ford Tarus Station Wagon! I am a long way from the AWD Turbo Monster. Soon those 4 months will be up and I will be looking for a new car to purchase.
Well I have been searching for Dealer Certified 2006+ Subaru WRX’s right around 22,000 give or take a few bucks. Early this week I was dead set and in love with a 2007 Subaru WRX with 24,000 miles on it for $22,988. Well I had them put together some numbers for me and with me putting $5,0000 down, they gave me a price of $415.00/month for 60 months. I was so freaking confused as to how and why my payments where so freaking high, as I was looking to get as close to $300.00 a month as possible. Well low and behold the interest rate they gave me was 9.9% !!! <-OMG
I was outraged so I called my bank to see what kind of used car loans I could get, and they could give me 8.0% for 72 months, which came to about $346.00 payments a month. Well I have known this lady at the bank for a while and she explained to me why the dealership gave me a 9.9% interest rate. Apparently since the downfalls of most major car makers, the major banks have pulled out of offering financing for the dealerships. So the dealerships are left with using smaller financial firms whose interest rates are through the roof due to their smaller client base.
Anyways! After looking at a $415.00 car payment for a 2007 Used Car, then looking at $346.00 still for a 2007 Used Car, I thought what about new …. I spoke with a salesmen and sales manager at a local Subaru Dealership and I am very excited to say, I am 99% positive I will be purchasing a 2009 Subaru WRX Premium Model for around 28,000 give or take. Which is nuts because the car cost more then the used ones I was looking at, yes I know. But the interest rate is 2.7% financing for 72 months which actually leads to payments of $318.00. Which is less then the 2007 Used WRXs I was looking at!! So I made an appointment and tonight I am going in to look at a Satin Pearl White 5 Door Hatch Back. If I love it which I already do from drooling over building my own online 10 times last night, I will be sitting down with the salesmen and building one tonight!
Thanks for Reading, I will keep you up to date.
**Not sure if anyone else had an issue but it took me 5 tries to post this, it kept timing out, not sure if it was just me or what.**