New Car

[Kijona]

So some of you may or may not know that I purchased a Scion FR-S earlier this year. I loved the car very much but after gaining a little weight from my new job (sitting at a computer all day), driving on the Godforsaken surfaces that are the Atlanta roadways every day, and consistently banging my head trying to get into the car, I decided enough was enough. In late August I started looking for a new car. I stumbled upon a brand new 2014 Subaru WRX STi Limited at a dealership not far from my house. It was a bit out of my price range, but I thought "Heck, if they still have it in December I'll inquire about it."

Sure enough, December is here and the car was still there. I drove there last week, asked about the car, test drove it for a few miles (dealership was weird about putting miles on it), and sat down with them. I didn't plan on going through their loan company, but I let them run it anyway. Of course, due to the negative equity in my previous car, their loan company didn't want to touch it with no money down. No problem. They tried to tell me that all I could afford was a standard 2015 Impreza WRX base model (almost 15 thousand cheaper) - wasn't interested but gladly test drove it. Then I left and let them think I wasn't coming back.

When I got home I applied for the loan through a few different credit card companies that I have a good, long-standing relationship with. I chose the best one and went back to the dealer and told them that I was approved for X amount and that's what they'd have to sell the car to me for. Of course they acted like they couldn't make it happen, blah blah blah; a typical sales tactic from a dealership. I told them flat out "This is what I'm willing to pay, if you don't want to sell it to me for that then I'm not buying." Since it's a 2014, and it's now December, and they had the car since 2013, they needed to rid themselves of it - especially with 4 brand new 2015 STi models coming their way only a few days from then.

The numbers:

MSRP with the factory-installed options: 41,775
Their "advertised internet price": 40,999
What they told me they'd sell it to me for the first time: 39,000
What they told me they'd sell it to me for the SECOND time: 38,500
What they ENDED UP selling it to me for: 34,500

NADA/KBB/Truecar "Fair Price": ~38,500

Even after tax, tag, title, and the negative equity in my old car loan, I came out on top or pretty much broke even. On top of that, the previous APR for my FR-S was 5.01% for 72 months. It was OK but not great. The new loan was 1.99% but because I opened a checking account and set up direct debit for the payment of the loan, they knocked an additional 1% off the APR (.5% for each option). So now I'm at 0.99% APR for the loan. In the long term I actually saved money by buying a more expensive car. I got extremely lucky and the moon and stars aligned for me.

The only problem: It's silver...

The required picture (click to make it bigger):



AND video you hooligans insist on:

[yamahonkawazuki]

I always knew youd end up being a bus driver. 

[Kijona]

I always knew youd end up being a bus driver. 

I don't get it. 

[JAS6377]

That's awesome. I'll actually be in the market for a new car this summer or next. I was seriously looking at either a Speed3 or WRX hatch. I LOVE the Subi AWD system, but they are a bit pricey. I guess I'll try to hold on to my POS for as long as I can and save my pennies lol.

In any event, nice car, and congrats!

[yamahonkawazuki]

I always knew youd end up being a bus driver. 

I don't get it. 

spell subaru backwards
Says U R A BUS

[Kijona]

That's awesome. I'll actually be in the market for a new car this summer or next. I was seriously looking at either a Speed3 or WRX hatch. I LOVE the Subi AWD system, but they are a bit pricey. I guess I'll try to hold on to my POS for as long as I can and save my pennies lol.

In any event, nice car, and congrats!

I drove a Speed 3. All I can say is "Ehh..." - not amazing, not terrible, just kinda meh....

I also drove a brand new 2015 WRX when I was at the dealership, which I believe I mentioned earlier. That car, for what they ask and for what it really is, is not a bad little car. Has a lot of features which are nice, and the WR Blue is really sharp looking. Plenty of power to have fun and very practical.

That being said, you'll need to buy a used WRX hatch if you're dead-set on the hatch. They've stopped making the hatches.

[yamahonkawazuki]

Why do they call a mazda 3 a speed 3? I dont get it

[JAS6377]

The Mazda 3 is the N/A good-on-gas general purpose commuter vehicle. The Speed3 uses the same chassis, but has a turbo and upgraded suspension, etc. Much like the WRX is to the regular Impreza.

[yamahonkawazuki]

Copy that. Tyvm 

[Old Mechanic]

While I could, if I wanted to use every dime of my cash reserves, buy a car that expensive today, I drive a 92 Nissan Sentra that I bought for $300. We haven't made any payments on anything in 19 years with two exceptions and they were to build two houses with equity in the previous house. Between the two houses we have increased our net worth by $300k. Sold the first one for a tidy $165k free and clear profit (and NO income taxes or social security payments)) and used that to pay for the second house build.

The debt trap is the killer of net worth. 25 years ago when the wfie and I got married, our net worth was around 40k, Now it is about 15 times that and we gave her two daughters close to 200k with the money we did not spend on interest charges.

regards
mech

[Kijona]

While I could, if I wanted to use every dime of my cash reserves, buy a car that expensive today, I drive a 92 Nissan Sentra that I bought for $300. We haven't made any payments on anything in 19 years with two exceptions and they were to build two houses with equity in the previous house. Between the two houses we have increased our net worth by $300k. Sold the first one for a tidy $165k free and clear profit (and NO income taxes or social security payments)) and used that to pay for the second house build.

The debt trap is the killer of net worth. 25 years ago when the wfie and I got married, our net worth was around 40k, Now it is about 15 times that and we gave her two daughters close to 200k with the money we did not spend on interest charges.

regards
mech

25 years ago:

1. The country as a whole was in much better shape economically
2. Gas was $0.97 a gallon instead of nearly FOUR times that amount, which is what it is today
3. You could get a job with a big company and stay with them and then retire
4. Basic homes didn't cost hundreds of thousands of dollars

While you've been around for a long time (no offense), and been able to enjoy the country while it was in better shape, and make money while the gettin' was good; the younger crowd is just getting going.

I seriously doubt if, by the time I'm 60, there will be any Social Security left. If I wasn't worried about identity theft, I'd post a picture of my paycheck - the amount that is taken out of my paycheck, in taxes alone, is absolutely absurd. I pay in taxes what other people working a part-time job make in gross. I know this because I used to work a part-time job, and I know how much I made.

So enjoy all that money I'm forced to throw at you old farts, cause I know it won't be there when it comes time for me to use it.

By the way, it's a 0.99% loan. It's basically free.

[Old Mechanic]

Grandma died in 1977, born 1887. She barely paid in $300 to SS. Drew about 80-100 a month for 28 years. I started paying in just after they dropped the silver standard. I would have to live to 545 years age to get the same benefit to payin ratio she did. Glad you finally figured out what I knew when I was 20 and I had to pay both employers and employees side due to self employment.

Enjoy your car, I did when I was young, maxed out SS at 24 at 14k earnings, now it's over 100k. I seriously hope you have the job security to buy all that depreciation, even at .99 percent.

regards
mech

[Kijona]

Grandma died in 1977, born 1887. She barely paid in $300 to SS. Drew about 80-100 a month for 28 years. I started paying in just after they dropped the silver standard. I would have to live to 545 years age to get the same benefit to payin ratio she did. Glad you finally figured out what I knew when I was 20 and I had to pay both employers and employees side due to self employment.

Enjoy your car, I did when I was young, maxed out SS at 24 at 14k earnings, now it's over 100k. I seriously hope you have the job security to buy all that depreciation, even at .99 percent.

regards
mech

I do not come to your posts to be a depressive and conceited donkey's butt, so I'd appreciate it if you'd extend the same courtesy to me.

[Old Mechanic]

If you feel a different perspective destroyed the course of this thread and you wish to denigrate good advice then that is your choice. If my posts don't pass YOUR threshold of acceptance, then the problem is between your ears.

I will post what I wish, in the way I wish, until those who own and run this forum ask me to do otherwise.

regards
mech

[Kijona]

If you feel a different perspective destroyed the course of this thread and you wish to denigrate good advice then that is your choice. If my posts don't pass YOUR threshold of acceptance, then the problem is between your ears.

I will post what I wish, in the way I wish, until those who own and run this forum ask me to do otherwise.

regards
mech

It's not a different perspective, it's a negative opinion of something someone else is proud of. Why? Jealousy? Hatred? Ill feelings? I don't know, and I don't care. I don't want any part of it.

Let me break it down for you, old timer. It's like this:

You came to my thread and started posting your negative opinion regarding a choice I personally made. I didn't come to you and ask for advice, or ask what you thought of my financial choices. This, in case you are unaware, makes it personally offensive, with intent to do so. It would be much the same as someone celebrating being sober for a year, and you coming along and saying "well you should have never been an alcoholic in the first place." It's just negativity for absolutely no reason.

And while I'm at it, let me go ahead and let you in on another little secret. It's not okay to run around and say whatever you want, to whoever you want, and think there won't be consequences. Not everyone is going to just bend over and let you try to cram your opinion up their hind quarters. Not everyone wants to hear you prattle on about how self-righteous you are. Nobody wants to hear your arrogant, self-congratulating speeches.

Here's a link to the dictionary, in case you need it:

http://www.merriam-webster.com/

[JAS6377]

<interjection>
Jesus, guys. Calm your fun bags.

Kijona, I'm on board with you. I absolutely love the performance-based vehicles that are out now, and am looking at getting one in the next year or two. Be proud of your new car, and the fact that you have the financial status to do so.

Mech, I also agree with you. I have a 2005 Stratus that I've managed to keep on the road thus far that I paid $2000 for as a down payment on my father's new car. I'm all for saving money where you can, and I do so as much as I can. But us young'ns, we still have that need to enjoy our vehicles. It's the same thing as in the 70's when kids had those built 350's and 455's in the garage, ready to be swapped out for a weekend at the track. Our world isn't quite as stable now, but we should still take advantage of being able to enjoy what we have. We work for what little money we can make, and we spend it on what makes us happy (for me, that's usually new fishing gear).
<\interjection>

Edit: Hehe. Fun bags. I love our auto-correct.

[iclrag]

It depends how us young'ns appreciate things! I love building performance engines and rebuilding diesels, but I can see how living debt free is a good way to make money! I drove a cheap car that filled with water every day and worked my butt off all through highschool, now I have a paid off 2008 lancer GTS, that I bought in cash, a 2006 GS500, and I'm looking for a 60-66 pickup for my winter project. Maybe I'm odd compared to my peers, but I would rather own things I've built and restored myself. Sure o enjoy having a big engine or knowing I have the most torque of anybody in my immediate vicinity, but I don't feel the need to always be showing off or anything, and for me, everything I own needs to have a purpose, or it's useless.
That's cool you got a new car, I hope you enjoy it! While I harbor a personal distaste for WRX STI's just on the basis that people around me put huge exhausts on them and drive like jack wagons, if it's what makes you happy, then drive it!


You've got to tell us how you like it, I've never understood the point in them (what do you do with a lowered rally car???), but I am curious to see how you like it.


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[Kijona]

It depends how us young'ns appreciate things! I love building performance engines and rebuilding diesels, but I can see how living debt free is a good way to make money! I drove a cheap car that filled with water every day and worked my butt off all through highschool, now I have a paid off 2008 lancer GTS, that I bought in cash, a 2006 GS500, and I'm looking for a 60-66 pickup for my winter project. Maybe I'm odd compared to my peers, but I would rather own things I've built and restored myself. Sure o enjoy having a big engine or knowing I have the most torque of anybody in my immediate vicinity, but I don't feel the need to always be showing off or anything, and for me, everything I own needs to have a purpose, or it's useless.
That's cool you got a new car, I hope you enjoy it! While I harbor a personal distaste for WRX STI's just on the basis that people around me put huge exhausts on them and drive like jack wagons, if it's what makes you happy, then drive it!


You've got to tell us how you like it, I've never understood the point in them (what do you do with a lowered rally car???), but I am curious to see how you like it.


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I'm much the same as you; I like having stuff that I can tinker with. But, that was probably because I never had any money to buy something decent. My first car was a Hyundai Excel 5 Door. It was a good car, but needed tinkering here and there. Then I owned a 1998 Ford Escort which also become a tinker car, and eventually a scrap car. Emissions-related bullsh!t killed the car. CEL on constantly, with no real way to fix it without replacing every single emission-related component to fix the issue by process of elimination.

After that I owned a 97 Ford Ranger 2.3L that I got for $2500 with only 55k on the clock. Loved that truck; first decent vehicle I had ever owned. I eventually gave it away to my parents who needed it, and got myself a bike. Finally, in 2012 I got a job that would allow me to make a car payment. I then grabbed up a used Corolla "S" - essentially brand new. CPO with 18k on the clock. Loved the car to death; however, it was financed with a co-signer at the time. The co-signer was a romantic interest, so you can imagine what happened there.

Long story short, I eventually ended up getting a much better job and trading in the Corolla for the Scion FR-S, which was a dream car of mine ever since they first released them. Call it what you will, but I suppose want and need did not align at the time. The FR-S, while a fun and easy car to drive, was horribly impractical. Though it had 4 seats, the back two were basically useless. Not only was the car impractical, but it was also a pain in the ass to get in/out of. Lastly, the suspension was harsh compared to most. After 10 months of driving the car, I finally gave up on it. Enter the Subaru WRX STi:

The Subaru WRX STi is a car that has always intrigued me. It's a unique blend of different vehicles/applications. While it is true it's not a thoroughbred rally car with a roll cage and deafening exhaust, it's still a very capable machine. If you consider what the car actually is, there aren't many to compare it to. The Mitsubishi EVO series comes to mind, but honestly, it's still just an I4. H4 is way cooler and the sound/engine feel is simply sublime, in my humble opinion.

The niche that this car fills is that of a sports car that you can drive spiritedly in the mountains, and then turn right back around and drive home when you're done. Most sports cars sacrifice one thing for something else. The STi may not be as fast around corners as the FR-S or some other "true" performance vehicles, but it makes up for that by being livable.

To understand the STi, consider it like a Corolla. Its base model is a very basic and plain car that can reliably transport you from point A to point B. Now that's fine for most people, and most people that are fine with it would laugh at the STi. However, other people like myself, feel the need for something more. This is where the STi comes in. It's still the same practical and usable 4-door car, but with every possible performance enhancement already added; upgraded suspension, exhaust, engine, drivetrain - everything. Plus, you can't forget about Subaru's proven AWD system. Out of the many different vehicles I have driven, I have to say that the STi is the most confidence inspiring by far. For all intents and purposes, you essentially have limitless traction.

Sure, there are other cars out there that you might argue are similar. For instance, BMW or Audi, but those cars are more subtle and homogenized. You don't get the same sensation from driving those types of cars.

You could mention a Mustang, but it's a 2-door car. You might mention one of the Golf series, but if you ask me, VW has gone down hill ever since the production of US vehicles was moved to Mexico. The only German vehicle I'd ever purchase would be a Porsche, and not one made by VW either.

You might also be tempted to mention something like the Ford Focus ST - but let's be honest here, Ford's electronics have always been prone to failures that require a firm whack to the head to explain. Not only that, all that power is going to the wrong damn wheels. Without the torque-vectoring crap they put on the car, it would probably spin itself around in a circle when you tried to take off from a stop.

If you consider it, there are not a whole lot of choices when it comes down to it. And surely none that offer the same unique "split personality" that the STi has to offer. And that is why I love the STi.

[iclrag]

See that makes sense, it's basically the ralliart of the Subaru world then, the evo is made to be a rally car (and a fun one at that!) and the ralliart is a toned down evo for people who want a turbo i4, the reason the evolution is a 2.0 liter 4 banger is because that is the limit on rally cars of that class, if it was any different it wouldn't be allowed to race. So that makes sense to buy a Subaru like that if you have no intentions of racing and have nor rules to abide by. It sounds like the price point is similar though, maybe I'll test drive one of em, I was thinking about picking up a ralliart or an Evolution next year, I've put roughly 40K miles in 2 and a half years on my GTS and wouldn't mind a nicer car. Though the 30 mpg is better than my old work trucks 7 MPG haha.

One of the main issues I have with the STI for myself is that I often drive in areas that my stock height lancer won't make it through, I have to walk down my friends 1/4 mile driveway to his house! I know the STI had less clearance than my lancer, and the evolution has more clearance than the STI for sure (though they are still maintaining rally spec for evolutions and the Subaru is just an AWD sports car). I'll figure it out when I get there though.


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[Kijona]

See that makes sense, it's basically the ralliart of the Subaru world then, the evo is made to be a rally car (and a fun one at that!) and the ralliart is a toned down evo for people who want a turbo i4, the reason the evolution is a 2.0 liter 4 banger is because that is the limit on rally cars of that class, if it was any different it wouldn't be allowed to race. So that makes sense to buy a Subaru like that if you have no intentions of racing and have nor rules to abide by. It sounds like the price point is similar though, maybe I'll test drive one of em, I was thinking about picking up a ralliart or an Evolution next year, I've put roughly 40K miles in 2 and a half years on my GTS and wouldn't mind a nicer car. Though the 30 mpg is better than my old work trucks 7 MPG haha.

One of the main issues I have with the STI for myself is that I often drive in areas that my stock height lancer won't make it through, I have to walk down my friends 1/4 mile driveway to his house! I know the STI had less clearance than my lancer, and the evolution has more clearance than the STI for sure (though they are still maintaining rally spec for evolutions and the Subaru is just an AWD sports car). I'll figure it out when I get there though.


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I dunno man, I think the H4 is the way to go. You can always raise the car up a little. Plus, check out this pic. It doesn't look like it has much more ground clearance than my STi:




At any rate, you could also just get a WRX, which is a 2.0L. It's got the FA20 with a turbocharger, same engine that's in the FR-S.