Gire Posted December 8, 2008 Share Posted December 8, 2008 I'm just thinking about putting food on your kid's dinner table. Link to comment Share on other sites More sharing options...
gf2020 Posted December 9, 2008 Share Posted December 9, 2008 I'm not going to counsel you on what to buy or what not to buy, but here in New England you can buy any remaining '08 STI for at least $7000 off the window sticker price and get 0% for 63 months with good credit (FICO score of 700+). Link to comment Share on other sites More sharing options...
tantal Posted December 9, 2008 Share Posted December 9, 2008 My advice to anyone and everyone would be to conserve cash in every way you can. I think that 2009 is going to be awful, and I hope that I am very wrong. Save your money, and pick up something used that you can afford - You can probably find another legacy GT for cheap. Link to comment Share on other sites More sharing options...
Guest heightsgtltd Posted December 9, 2008 Share Posted December 9, 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. The above statement is horseshite.. IF you get a good enough interest rate, there is no reason to pay the car off in one lump sum (e.g., 0%, 1.9%) it only makes sense if you get a high rate to pay it off. FYI, I know plenty of wealthy people who are smart enough to know not to dump cash into a car unless they have to when the money can be doing something else. Link to comment Share on other sites More sharing options...
AirSix Posted December 9, 2008 Share Posted December 9, 2008 My advice to anyone and everyone would be to conserve cash in every way you can. I think that 2009 is going to be awful, and I hope that I am very wrong. Save your money, and pick up something used that you can afford - You can probably find another legacy GT for cheap. +1 Dumping 50% of your settlement (not to downplay your accident, but free money in a sense) into a depreciating object in this economy is not prudent. The thought of the possibility of no American automakers in 2 to 3 years should be the answer to the OP's question. The economy is really scary right now. Save, save, save. I tell myself that an N/A Forester is just an STI without all the fluff like, power, handling, style, racing heritage, and curb appeal. Link to comment Share on other sites More sharing options...
Meltdown07 Posted December 9, 2008 Share Posted December 9, 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. Really think about it man. You have much more responsibility than an average 21 yr old (you have a kid). You are essentially saying you want to spend a bunch of money to go marginally faster. Save your cash. Economy is shit, you're young. That money will come in useful someday, I guarantee it. BTW an extra $40/month, is $480/year. Thats not a small amount. Just really think about it man. Really. Go Cardinals! Link to comment Share on other sites More sharing options...
SubieSteve Posted December 9, 2008 Share Posted December 9, 2008 +1000000000000 I went through the same crap you are - got money at a young age and became a materialistic douche. Cars, bikes, etc...WHAT A WASTE! And I didn't have a kid! If I could hit the rewind button I would do that part of my life over. Trust me dude, cars aren't worth the money (unless you're Leno). If you're not already, put yourself through school...use that money to advance yourself now b/c it sureasshit will pay off later. There are other ways to advance your credit...be patient young grasshopper! Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 My work is paying for my school and im sure i will be staying with my bank. Our stock is actually 2 dollars higher than it was in december last year and my work load and pay only keep increasing. Im not getting a STI, i did qualify for 0% financing, but the are only having the 8k off msrp deal until 12/31/08 and i wont be getting my check until after the new year. As i was going/talking to dealers last night i found that a huge subie dealer in this area sold all of its milwaukee subaru fleet to Dodge city. Dodge is buying subie fleets now lol, oh and dodge city isnt doing any kidna specials like cashback and the lowest interest rate there doing on the STIs is 4.9%, when all the subie dealers are doin 0 and 1.9 for all new cars. They bought the fleet but still cant compete with the deals they are having around here. Link to comment Share on other sites More sharing options...
SubieSteve Posted December 9, 2008 Share Posted December 9, 2008 So let me get this straight...you work at a bank and your asking a financial question? With regards to your banks financial standing...if there is anything to be learned from this year's economic debacle it's nothing is certain. We haven't seen anything yet...things are just getting started. You think CDS on these subprime loans are a big deal - wait for Alt-A. Anyway, look at the big picture and do what you think is best. You don't need anyone on this board giving you advice. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 I know i dont need anyone giving me advice lol. No where in my original thread did i ask what do you think i should do or let me get your opinion. All i asked is what kinda interest rates and cashback/price cuts are you guys seeing out there for 08s and 09s. Only 2 or 3 people actually answered those questions, the rest just wrote about what they think i should do. Which is fine, and like i said i will probably not be getting the STI, i will just be tradeing my LGT in for a stick LGT with less miles hopefully. Dont really care what year i dont need auto anymore and i dont want it anymore. Link to comment Share on other sites More sharing options...
Woby Posted December 9, 2008 Share Posted December 9, 2008 I am not sure what cash incentives there are down south these days but when I bought my Spec B this time last year I was able to take an additional 8K off on top of all the incentives at the time. I did the math and it would take a pretty amazing (guaranteed) investment give me the same return. If you are determined to get a car look at all the options and see what will provide you the best return for your cash. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 Well 8k off msrp of brand new cars is pretty hard to beat. This new dealer i found has 4 STIs, 2 without the gold rims and without nav are 28k with less than 10 miles and 1 with gold rims and nav with 3500miles is 28k and 1 with gold rims nav and 7 miles is 31k and i got qualified for 0% financing but i wont have the check until after this incentive is over so chances are no sti for me. Link to comment Share on other sites More sharing options...
SubieSteve Posted December 9, 2008 Share Posted December 9, 2008 I am not sure what cash incentives there are down south these days but when I bought my Spec B this time last year I was able to take an additional 8K off on top of all the incentives at the time. I did the math and it would take a pretty amazing (guaranteed) investment give me the same return. If you are determined to get a car look at all the options and see what will provide you the best return for your cash. You did the math...what was that, Enron math? Since when does buying a new car constitute a return on investment? You still paid $2X,XXX, plus interest, for a depreciating asset. I understand where you're going with your statement, and +$8K is a nice savings, but it's no return. If you spread that $8K over the useful life of the car (5yrs), that's < $2/year. This guy can get ~$3K/year if he sticks that money in a basic online savings account. Back to his point - you might want to check out some vehicles from the Detroit 3 - talk about incentives. There have been enormous gains on quality with these too. The new Euro Fusion coming to the US looks nice. The G8 doesn't seem too bad either. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 I have driven the G8, i am oen of the biggest GM performance v8 guys on this site. So the g8 gt was the first car i test drove lol. But i would need the GXP because i miss stick. I went from 2 high hp cars with stick to and auto and im going crazy, sometimes i find myself driving in the city for hours shifting gears myself in my auto LGT lol. Link to comment Share on other sites More sharing options...
SubieSteve Posted December 9, 2008 Share Posted December 9, 2008 How does the G8 drive? Did you drive the V6 too? Any balls? I rented a G6 once, and didn't hate it. I thought I drove pretty good. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 I dislike the g6, my ex had one and i used to drive 30 of them a day when i worked for a rental car company. I didnt drive the v6 g8, because i would never buy one. The G8 gt was comfy the STI interior IMO was better. The g8 gt took turns well, you wouldnt think it was a 4klbs car. The power was what i expected for the most part, its been a long time since i rode in a v8 car with only 370hp. The exhaust note def wasnt loud enough, i have a baby and i dont want an insanely loud car but i still like to hear it. Overall i would take a STI over the G8 just because i dont wanna get another DD that doesnt have AWD. The G8 GT is kinda not the car for me i think, its not gonna be as good as my legacy in the snow and i wouldnt be able to make it into my weekend warrior since it cost soo much and i cant afford two newer cars. So no matter how nice it is its kinda useless in my eyes. Link to comment Share on other sites More sharing options...
SubieSteve Posted December 9, 2008 Share Posted December 9, 2008 get this one http://video.kenblockracing.com/flash/small_player/preloader.swf?vendorid=204&media_id=9183&bgcolor=FFFFFF&autopl fixed the link Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 Im at work, and your link is blocked Link to comment Share on other sites More sharing options...
gf2020 Posted December 9, 2008 Share Posted December 9, 2008 I have driven the G8, i am oen of the biggest GM performance v8 guys on this site. You're 21 years old, please don't make statements like that. I have shoes that are as old as you are. I have been involved in the building and tuning of GM V8 performance cars and trucks for over 25 years and I am sure there are others on this web site who have even more experience than I do. I gave you the discount from MSRP information earlier in this thread and you can be rest assured that the incentives on the '08s will continue past 12/31. Keep this thread on track, you don't want to be another SlingXShot. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 9, 2008 Author Share Posted December 9, 2008 What i meant is they are my favorite performance engines and i am a big supporter. The only two i ever built for myself is a 355 that made 390rwhp when i was 16 and ,my 2000 Trans Am made 427rwhp without spray and i built that when i was 19. I have helped build over 20 gm engines and probably 8 other types. Recently just helped my girlfriends uncle finish his 496. So for a 21 year old i do have alot of experience. BTW who has 21 year old shoes? I would rather be a slingxshot than an old man with 21year old shoes lol Link to comment Share on other sites More sharing options...
Woby Posted December 10, 2008 Share Posted December 10, 2008 SubieSteve - when you live in a town with no public transport a vehicle is a necessity, thus if you have to spend the money on the vehicle (as I did), the additional savings is more then what I could have made in an investment plus car payments (if I put the money in the stock market at this time last year this would be a no brainer!). Also I am not sure of the interest rates south of the border but I doubt they are over 10% for a savings account (you quoted a price of under 30K and estimated more then 3K in interest a year), up here in Canada you would get about 1.5% which would come out to $450/year. So at 0% interest for the loan over 5 years and a savings account you would get $2,250 in interest, match this to 8,000 off the purchase price nets a savings of $5,750 for paying cash. I calaculated the interest using simple interest, with compound interest you may be able to add another $50 over the five year period. Link to comment Share on other sites More sharing options...
05GT Guru Posted December 10, 2008 Author Share Posted December 10, 2008 I think what he meant by 3k a year was becasue i said that the total cehck i will be getting is almost 90k. And there are alot of banks right now offereing hgih interest rate savigns accounts, i think i even saw some as high as 5 or 6%. Link to comment Share on other sites More sharing options...
Woby Posted December 10, 2008 Share Posted December 10, 2008 Just being anal (shoot me I'm an accountant) but you can't use the total cheque amount only the cash price for the car to determine the cost/benefit of the options. Link to comment Share on other sites More sharing options...
djsnoops Posted December 10, 2008 Share Posted December 10, 2008 ya here in Illinois new subies are going for 0% interest. However never buy a new car it will depreciate significantly as soon as you leave the dealership Link to comment Share on other sites More sharing options...
05GT Guru Posted December 10, 2008 Author Share Posted December 10, 2008 I understand lol, but they are offering 8k off the price and 0%. Its a pretty tempting deal. Link to comment Share on other sites More sharing options...
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