One thing I don't miss about being younger....insurance payments. I paid 78 bucks a month for my 2011 with a $250 deductable.
Yeah, I have one speeding ticket for going 5 over. Most ridiculous ticket I've ever gotten. I make a good amount of money and was pre-approved for a loan but that insurance payment really makes it a little bit over what I was budgeting for. Lets say I did go out and buy a WRX for 23k. Left it mostly stock, maybe I tune it and throw some gold OZs or CCWs on there. A year down the road I decide the payments are too much, and the amount left is around 20k. Am I friggin hosed, or will the car sell at 20+k?
The depreciation curve lessens some after the first year or so. Are you going to be putting any money down and how long are you financing for?
I'd be going for the longest term possible - Mostly because I like spending money. Probably nothing down, again because I like having large cash reserves. Maybe 5k if I can sell my daily driver. I tend to do long term loans and pay against the interest... i.e. the payment is a minimum of 400.00 and I'll throw 600 to 700 a month at it, unless I want to buy something extravagant that month. Either way, I can afford it - and I'm only 22 so I just make stupid decisions while I can get away with it
What would be a "good" price for that car? Referring to the one in the OP I told them I wouldn't pay more than 19k. I was kind of a dick to them about it, basically telling them that they are unqualified to charge that kind of money because it is modified when they don't actually know what the modifications do, what kind of value they add, nor how the car is supposed to typically behave with said modifications. I cited the compressor surge + wastegate flutter and they basically said "We will have one of our techs look into it but even if it is a problem we do not think it is serious enough to affect the value of the car" On the other hand, I really like the car and wouldn't mind paying a fair market value for it. I just don't know what that is. So much face-palming
At the end of the day, you need to feel good about the car you buy, the deal you get, and the price you pay. If you see value in the mods, then go for it. I think anything over $20k is inflated, but I am the type that wants to pop the cherry, and not have the sloppy seconds. Being a dick to get what you want does not work anymore, the days of yelling loud and making a scene and ending up getting results are over. If you bring logic and reason to the table and an offer stating you have a deal if they will do $19k then it gives you something to work with. And I do mean literally write it out, if they do not take, well I am going to guess you have no deal. I use to be a Sales Manager at a dealership and use to see it all the time. Guy comes in says car is overpriced, "well were you looking to buy the car or just give your opinion?" You want to buy let's talk if not GTFO. Like most have said here, they're are many other cars in this price range that may be a better fit for you. Take your time, do not rush, and most off do not settle.
If you are financing, then fair market value is determined by your financial institution. Likely no more than a stock vehicle with similar mileage. I'm in the "mods don't add any value to the car" camp for 2 reasons. First, there's a strong likelihood that these mods could damage the vehicle (depending on install, parts quality, parts that don't match the rest of the system and cause extra stress on other components, etc...). Second, in the event of a loss, your insurance carrier doesn't really give a ****. If you have receipts you might be able to recoup the cost of some of the parts. But most of the time that means jack **** since the value of the stock parts they replaced are listed much higher. Ever look up how much 1 oem wheel costs? Or how much the factory stereo costs? How about suspension for 1 corner (strut assembly, spring, top mount, dust boot, nuts, etc...). Others take some sort of arbitrary (cost of stock vehicle + .5xprice of aftermarket parts) equation to estimate the value. In my opinion, this only works for high end and collectible cars with high end parts. Yes, I would be willing to pay extra for an exotic that comes with $6000 HRE wheels or a $12,000 akropovic exhaust. In these cases I've used the value of the used aftermarket part - difference in price between a new and used stock replacement as the absolute most I would pay on top of the price of the car (new price in case you're in a bind and can't find a used replacement). So in the wheel scenario, I'd take $4000 (used price of the $6000 new wheels) - $2000 (shipped price of stock replacements) = no more than $2000 over fair market price of a similar stock example.
I spoke to MAP about the car and they confirmed that the mods were done by them and they spoke very highly of the car. The guy on the phone @ map even said he was going to go check it out now that he knows it is for sale... hmmm... now my mind is really wandering. Told me it dyno'd at over 300whp
