05GT Guru Posted December 8, 2008 Share Posted December 8, 2008 Title should say- Have some Questions for people who bought 08 and 09s Some people on here have probably heard me say since the STI came out that i dont like the new style. But the more i test drive new cars and see the STI on the way to my dads house every week i seem to be falling more and more in love with the car. I have never liked or owned a hatch/wagon style car and i havent made fun of people in most cases for owning them i just never liked them. But this car seems to have it all and i want one really badly, everytime i drive one i dont wanna get out. I got the legacy 1 year ago and as some of you know i was hit while riding my motorcycle and the settlement is goin to be enough to straight up by a new STI or anything in that price range. However i would still like to build my credit some, since im only 21 and only have 4 years of credit history(all perfect but how long you have credit plays a big part in loans). My question is what kind of cash back and interest rates is subaru offering for 08s and 09 spec b and STI models and how long are the loans for. I have seen a couple 08 STIs with less than 10 miles on them goin for 28,995- is that good? Thanks Link to comment Share on other sites More sharing options...
Golf4283 Posted December 8, 2008 Share Posted December 8, 2008 N/a Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 Im sorry i just realized that i posted this in the wrong section, Mod please move to pre-purchase section thanks Link to comment Share on other sites More sharing options...
rao Posted December 8, 2008 Share Posted December 8, 2008 http://www.subaru.com/tools/financialsolutions/special_offers.jsp Rob IF YOU CARE ABOUT YOUR CAR YOU SHOULD NEVER DRIVE IT Link to comment Share on other sites More sharing options...
mistaare Posted December 8, 2008 Share Posted December 8, 2008 if you are asking if $28,995 is a good price for a new sti? the answer is yes (in my opinion). if you are asking if you should a.) buy the car outright or b.) make payment on it to build your credit. i would take b. right now i THINK subaru is still offering 1.9% financing. now hopefully i can explain this without being to confusing (i am a mental midget). assuming you will qualify for the 1.9% financing. take your insurance check, put it into either a savings account or a checking account that should get between 3-5% interest. each month or every couple months take out as much as you need for your payments. i would also pay off the car early, either by making double payments or after a year or so, just paying it off outright. that way, you are still making a little $$$ on your insurance check, and your credit score will look great. i think. :-) good luck. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 if you are asking if $28,995 is a good price for a new sti? the answer is yes (in my opinion). if you are asking if you should a.) buy the car outright or b.) make payment on it to build your credit. i would take b. right now i THINK subaru is still offering 1.9% financing. now hopefully i can explain this without being to confusing (i am a mental midget). assuming you will qualify for the 1.9% financing. take your insurance check, put it into either a savings account or a checking account that should get between 3-5% interest. each month or every couple months take out as much as you need for your payments. i would also pay off the car early, either by making double payments or after a year or so, just paying it off outright. that way, you are still making a little $$$ on your insurance check, and your credit score will look great. i think. :-) good luck. Thanks sorry if you were confused, basically im asking 1) is 28,995 good for a 08 STI with less than 10miles on it. 2) what kind of cash back and interest rates does subie have for the 08 STIs if the cashback even still applys for these cars. I will be shopping after winter so keep that in mind and im goin to put a pretty large downpayment on the car, i was thinking about takeing 15k or so out in loan form. Link to comment Share on other sites More sharing options...
SuperCleanLGT Posted December 8, 2008 Share Posted December 8, 2008 To not answer your question I would save the $$$ and buy a car you can afford to make the monthly payments for w/o using the ins check. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 I have one its called a 2005 legacy gt lol. Even if i were to buy the car for straight cash i wouldnt be using even half the check. But just paying off the lgt and keeping it for a couple more years is still a very good possibility. Link to comment Share on other sites More sharing options...
JoeFromPA Posted December 8, 2008 Share Posted December 8, 2008 FYI - It's going to be tough to get financing unless you are putting a large amount down or have a very experienced co-signer with good credit. 21 years old, no matter the history, is going to be a flag right now. Sorry man. Maybe I'm wrong, but I doubt it. Honestly, if you like the ride/interior quality of the LGT I think you'll dislike the STI. The interior quality and ride quality is a real step down (or 2 steps). Joe Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 Like i said the check will be more than enough to buy the car straight cash, but i wanted to take out a loan to get more credit history. As far as co-signers go i got the loan for the legacy with no co-sign and after everything it was almost 20k, my trans am loan was 15k got it by myself and i have had 3 5k personal loans and 2 2k personal loans(no colateral), all are paid off except the legacy loan and 1 5k loan, but both will be paid off when i get the check. I always find a way to get loans but in this case it wont be hard since as i said i only wanna take out a loan for 15-17k of the cars cost and just pay the rest with cash. And i have test drove the STI like 8 times now, and everytime i like it more and more, i didnt think the ride quality was bad at all, and the seats were comfy enough. Link to comment Share on other sites More sharing options...
Golf4283 Posted December 8, 2008 Share Posted December 8, 2008 I understand wanting to build credit and all but honestly why pay the interest on a loan when you can buy outright and avoid it? It just seems so stupid to me. You are thinking about knowingly going into a deal to pay more than you have to. Most people who buy their cars with loans can't afford them in one lump payment. Myself included. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 I understand this, but you see if i can get 0% financing which i just got off the phone with the dealership close to my house and they said if you qualify they do offer that, then i wouldnt be paying interest and even if it was 1.9% or something thats not too bad. My credit score is in the 790s whic is great but with only 4 years of credit history it still doesnt get me qualified for everything i want, such as a house. Link to comment Share on other sites More sharing options...
oddseth Posted December 8, 2008 Share Posted December 8, 2008 I hopped over to my dealer to investigate what I thought was a coolant leak and ran into a salesman with whom I have dealt on several occasions and he said that all 08' subarus now can be had at 0% interest for up to 5 years, including the STi. Might want to consider putting half down and then financing the other half at 0% since you are not paying any money for the interest. That way, you can build credit without having to pay interest and still have managable monthly payments (under 400/month). I did this when I bought my 05 GT new almost 4 years ago - put down about 15K and financed the other half and it worked out well for me. I say this because I was your age when I bought the car and thought it was a pretty sensible decision. I might jump on an 08 STi myself if I can in fact get the $6,5K off msrp and combine it with the 0% interest. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 Yeah, the dealer has 2 STIs with like 2miels on them that they dotn use for test drives that still have a price tag of 35k and they have 2 others one which is a color i love that has 7 miles on it for 28,995 price tag, i will trade 5miles for 6 grand lol. The higher priced two have the gold rims though so im sure they have some extra options. Link to comment Share on other sites More sharing options...
Gire Posted December 8, 2008 Share Posted December 8, 2008 To not answer your question I would save the $$$ and buy a car you can afford to make the monthly payments for w/o using the ins check. +1 Dude, you are 21 years old. Take that settlement money and invest it for a rainy day. You have a kid too, no? Put that money in a education fund, or a 20 year term so it can grooooow and become much more than a deteriorating asset parked out in front of your house. Spending insurance money on a new car is the stupidest thing I can think of, unless you are independently wealthy or are waiting for your rich parents to kick the bucket soon... Enjoy your LGT, with the lower insurance rates, less hassles with punk thieves, etc, etc. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 +1 Dude, you are 21 years old. Take that settlement money and invest it for a rainy day. You have a kid too, no? Put that money in a education fund, or a 20 year term so it can grooooow and become much more than a deteriorating asset parked out in front of your house. Spending insurance money on a new car is the stupidest thing I can think of, unless you are independently wealthy or are waiting for your rich parents to kick the bucket soon... Enjoy your LGT, with the lower insurance rates, less hassles with punk thieves, etc, etc. Yes i have a kid, i was thinking about putting a nice 10k into her savings account. She has more money than i do right now thanks to my mom(The babies rich ass grandma) And no i will never see another dime from my parents except the moeny they give to the baby(which i dont spend lol). Link to comment Share on other sites More sharing options...
Mr. Sinister Posted December 8, 2008 Share Posted December 8, 2008 +1 Dude, you are 21 years old. Take that settlement money and invest it for a rainy day. You have a kid too, no? Put that money in a education fund, or a 20 year term so it can grooooow and become much more than a deteriorating asset parked out in front of your house. Spending insurance money on a new car is the stupidest thing I can think of, unless you are independently wealthy or are waiting for your rich parents to kick the bucket soon... Enjoy your LGT, with the lower insurance rates, less hassles with punk thieves, etc, etc. This is excellent advice, especially with where the stock market is right now. Link to comment Share on other sites More sharing options...
Meltdown07 Posted December 8, 2008 Share Posted December 8, 2008 +1 Dude, you are 21 years old. Take that settlement money and invest it for a rainy day. You have a kid too, no? Put that money in a education fund, or a 20 year term so it can grooooow and become much more than a deteriorating asset parked out in front of your house. Spending insurance money on a new car is the stupidest thing I can think of, unless you are independently wealthy or are waiting for your rich parents to kick the bucket soon... Enjoy your LGT, with the lower insurance rates, less hassles with punk thieves, etc, etc. +1 million Seriously, save the money. The time will come when you need it. Believe me. I am 27 and regularly wish that I would have held on to my perfectly acceptable (yet boring to drive) paid-off '97 Accord for another year or two before buying a LGT so I'd have had that extra money in my pocket. Not to mention insurance rates will SKYROCKET with an STi. You should have a slush fund, I'd really consider hanging on to the cash. You were given a real gift, hang on to it! You already have a really nice car, go with that for a bit. Go Cardinals! Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 If i dont get the STI im still getting a different car. Now that my girl has a new car(her evo was totaled and it took 6 months for us to get the insurance money, lawyers had to get involved) so there is no need for me to have an auto anymore. I would like to trade the LGT for a stick version at the very least, my insurance would go up 40 a month BTW if i got an 08 sti. Or i could get a cheaper second car lol. Link to comment Share on other sites More sharing options...
Gire Posted December 8, 2008 Share Posted December 8, 2008 but, 21 year oldz need an STi y0!!! It makes total sense, now that I think about it again... go spend that dough on a Vegas trip, baller style, and then throw the rest on a new car!! Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 but, 21 year oldz need an STi y0!!! It makes total sense, now that I think about it again... go spend that dough on a Vegas trip, baller style, and then throw the rest on a new car!! Lol, i dont need an STI. Its not like i go out racing every weekend like i did 2 years ago. And i am already going to vegas in april, and leaving the girlfriend and baby at home. Still trying to decide if we are gonna be riding(motorcycles) down there or flying. We have a couple friends who live down there and own a shrink business. Im sure everything but gambling will be paid for. Link to comment Share on other sites More sharing options...
Backlash Posted December 8, 2008 Share Posted December 8, 2008 I agree, put the money away. or pay off the LGT you own now and put the rest away. to be 21 and debt free, does much more for you in the long run. Your situation is similar to how lottery winners end up broke in 5 years. They come in to a large sum of money the easy way, first thing they do is go on a shopping spree. next thing they know... they have no money. Worse off than they were before the winnings. Be smart, think of the future not the present. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 Lol its not like im going to be spending all the money, i was gonna use 13,000 of it to get the loan down to 16,000 and then just finance that 16,000. And if i do keep my LGt i wotn be paying it off, the whole point of me financing the STI was to build my credit some more if i didnt wanna do that i woudl just straight up buy the STI. Its not like i dont plan on saving some money no matter what i do. After lawyers fees and after they pay back my health insurance i will be getting close to 90,000. Which some will be saved and alot will be used for a downpayment in a year or two on a house. Link to comment Share on other sites More sharing options...
JoeFromPA Posted December 8, 2008 Share Posted December 8, 2008 You sound like one of my best friends, who trades cars too frequently. He's wound up upside down to the tune of 50% of the cars value.... Do what you want man, I'm not one to lecture, but keep your priorities straight. If they are straight, and you don't have any qualms, then go to town. Joe Link to comment Share on other sites More sharing options...
05GT Guru Posted December 8, 2008 Author Share Posted December 8, 2008 Well thats what i plan on doing(whatever i see is best), i have always been in the positive as far as cars are concerned. The thread wasnt really to ask for people opinions if i should do it or not, it was too see what kind of deals people were getting around the country to compare them to what deals i can get here in WI. I do thank all of you for your time and thoughts though. Link to comment Share on other sites More sharing options...
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