idk if youll see this man but this is a badass video for people that are buying for the first time or trying to buy their dream car. Credit Unions are the way to go.
Hopefully you answer I just want your honest opinion. So I messed up lol I bought a 13 mustang 5.0 for 22k I put 7.5k as a down payment. I owe 14k with a 4.4 apr I want to get rid of it I saw an evo x 2014 69k miles for 22k at a dealer what would you do trade it in? I posted it up for sale been up for Almost 2 months no serious buyers what would you recommend doing ? I also roughly make $2600 a month that’s my gross income.
Lol car payments that take a disproportionate amount of my income... been there. The mustang is hard to sell because there’s a lot of them and it’s easier to finance from a dealer. It’s tough but if you really hate the Mustang then you gotta bite it. That said, you’re going down a hole here so you need to be sure and keep whatever you end up with. If I were you I’d probably sell the mustang at a loss then buy an older cheaper Evo. 22k isn’t necessary a bad deal for a 2014 Evo depending on model, condition etc.
So I am 17 years old. Looking to buy an evo 9 I have zero credit obviously. I have saved up around 6k and was wondering if I should make a down payment on an evo or save up and pay it in full or request loan?
With no credit unless you can get a co signer you will have to put something down. I would definitely finance some of it even if only half. The interest rate will be stupid high... like 12-15% maybe even more but it will make your credit sky rocket after about a year. Small price to pay to build awesome credit. Plus after a year you callus refinance the whole car or most at a much lower rate. Regardless I would try to keep a car payment as long as possible to keep helping your credit
Quick question that I’d really appreciate any knowledge on. I don’t really have anyone I can go to for information like this so you can be as brutally honest as you want. I’d rather here it now than regretting any decision later. I’m 20 living at home making about $1200 a month with very little monthly expenses. I have about 10k saved and a very good credit score. How realistic is it for to go out and start financing an Evo 9 or X and would you advise me against it?
Hey man never hurts to ask. Some people will be will jerks and respond that way; just ask someone else. Anyway, financing a X would be super simple. You’ll still get a high apr but you gotta pay to play; refinance after a year. A 9 will be harder since they are harder for everyone. That said credit unions are your friend. Lastly, while I generally don’t have regrets about the money I spent owning an Evo at your age it kinda depends on your goals in life. If I could go back I’d probably start a business instead as side hustle but that’s not for everyone
Depends. Obviously maintenance cost will be a little higher and the Evo would likely be older/ more miles. Insurance cost will be higher too; resale will be better. For me having a X as a second Evo wasn’t worth the cost. As my only car I’d pay the premium.
Okay I'm in the market for an evo just asking around for people's opinion on a X since they have a evo 8 or 9 . The price range on the X and 9s are around the same used so I'm not sure which evo I want yet.
What if I want to buy an evo from a private party but want to finance it? Can a bank or credit union give me a loan for the evo ? And if so would they give it to me in cash or check ?
In Australia you are lucky to get 10-12% from finance brokers , banks won't deal with you at all. Grey imports are a nightmare and everyone is scared of them. I would dive head in if I could get anywhere near 5%.
Just a good reminder to me and everyone else that it could always be worse. Sorry to hear the hassle it is for you though! My Evo at over 100k miles and 10yrs old was only 3%
Cash isn’t king, debt is damn, cash flow is king. Listen to Dave Ramsey to get out of debt, and listen to Grant Cardone to become financial free, cash flow will allow you to live the life you always wanted. Don’t have debt even if you were to have an asset, anything and everything that has wheels and motor will drop in value. Smart to NOT have debt.
I’m 19 , make about 2500 a month . Still live at home , no bills except phone and insurance and currently working on my credit . I plan on getting an x soon as my current car is slowly going and giving me problems . You think I’d be alright ? I’d plan on having this car for years
First, sorry for my late reply. See latest videos for explanation. To answer your question I was in a very similar situation at your age. In reflection it was dumb to buy an Evo financially. However, because I had that car I have a lot of amazing memories I wouldn’t have otherwise.
Afford is relative term considering I too was living at home and going to school. However, I was working about 50 hrs a week and I put about 10k down. I had to put that much down to get approval; I had basically no credit.
Same, I'm 20, first car is a regular lancer es but my trade in is only $5999 and I only got about $1000 saved, I have no credit and similar expenses. I talked with another youtuber about my situation, and they told me to try to save at least 10k until you finance, so the mean time I'm just fixing up my es and hopefully trade it in one day
Depends. Compared to a 911? No. Compared to a Civic? Sometimes. For example oils changes are what any normal car would be except you should run synthetic so that adds a bit. However, brake pads and rotors (especially the MR) can cost significantly more. Same with tires, struts etc.
Right, I understand. It's also hard to pass up on a deal. I'm struggling with not buying an evo 8... I wanna just finance it and start making payments so I can drive it. I'll pay the truck off first and pray they are still around. Awesome videos, by the way!
I think you can finance through the dealer older cars but has to be 48 months ... Also small dealers I agree, you gotta be very careful , true about repo. Etc
will sanders dang I know how it feels down south too, thats saying something. but I stay in Southwest Texas, Here in El Paso it's just dry heat and 100°+ weather. we're well on our way to becoming the Tuscan or Phoenix of Texas man :( its stupid hot lol
idk if youll see this man but this is a badass video for people that are buying for the first time or trying to buy their dream car. Credit Unions are the way to go.
I've legit learned more from this channel than I did in home ec and economics class from highschool.
Duh ha! Seriously though glad you’re finding it useful!
Hopefully you answer I just want your honest opinion. So I messed up lol I bought a 13 mustang 5.0 for 22k I put 7.5k as a down payment. I owe 14k with a 4.4 apr I want to get rid of it I saw an evo x 2014 69k miles for 22k at a dealer what would you do trade it in? I posted it up for sale been up for Almost 2 months no serious buyers what would you recommend doing ? I also roughly make $2600 a month that’s my gross income.
Lol car payments that take a disproportionate amount of my income... been there. The mustang is hard to sell because there’s a lot of them and it’s easier to finance from a dealer. It’s tough but if you really hate the Mustang then you gotta bite it. That said, you’re going down a hole here so you need to be sure and keep whatever you end up with.
If I were you I’d probably sell the mustang at a loss then buy an older cheaper Evo.
22k isn’t necessary a bad deal for a 2014 Evo depending on model, condition etc.
will sanders thanks I really appreciate you!
So I am 17 years old. Looking to buy an evo 9 I have zero credit obviously. I have saved up around 6k and was wondering if I should make a down payment on an evo or save up and pay it in full or request loan?
With no credit unless you can get a co signer you will have to put something down. I would definitely finance some of it even if only half. The interest rate will be stupid high... like 12-15% maybe even more but it will make your credit sky rocket after about a year. Small price to pay to build awesome credit. Plus after a year you callus refinance the whole car or most at a much lower rate. Regardless I would try to keep a car payment as long as possible to keep helping your credit
Quick question that I’d really appreciate any knowledge on. I don’t really have anyone I can go to for information like this so you can be as brutally honest as you want. I’d rather here it now than regretting any decision later. I’m 20 living at home making about $1200 a month with very little monthly expenses. I have about 10k saved and a very good credit score. How realistic is it for to go out and start financing an Evo 9 or X and would you advise me against it?
Hey man never hurts to ask. Some people will be will jerks and respond that way; just ask someone else.
Anyway, financing a X would be super simple. You’ll still get a high apr but you gotta pay to play; refinance after a year.
A 9 will be harder since they are harder for everyone. That said credit unions are your friend.
Lastly, while I generally don’t have regrets about the money I spent owning an Evo at your age it kinda depends on your goals in life. If I could go back I’d probably start a business instead as side hustle but that’s not for everyone
will sanders thanks brotha. Really appreciate the info. Love the videos btw.
No problem any time!
Im in the same situation lol.
good vids man. ur vids are pretty run-off style would be better if u could compact them a bit. have nice day
agreed. This video is old so I've gotten "better" but still have room to improve
@@willsanders187 was still a good watch. about to sell my evo 8 to switch to an Evo 10 =)
I’ll end up spending more on insurance if I don’t buy one cash, plus interest
how much would insurance be for someone with less than 1 year of driving under 25 yr old?
kameron holloway you might as well turn away, insurance for you would be around $330 a month, and $300-$400 a month just for the car payment
hard to say; best to just a quote and find out
Looks like this video will answer my question 😎🤝🏾
haha I read your first comment and was just about to link this
would you get a evo 10? since the prices are around the same ball park?
Depends. Obviously maintenance cost will be a little higher and the Evo would likely be older/ more miles. Insurance cost will be higher too; resale will be better. For me having a X as a second Evo wasn’t worth the cost. As my only car I’d pay the premium.
Okay I'm in the market for an evo just asking around for people's opinion on a X since they have a evo 8 or 9 . The price range on the X and 9s are around the same used so I'm not sure which evo I want yet.
Sorry I thought you were comparing Evo X to Focus ST. Is you’re comparing Evo X to IX then Evo X 100%
Do u think I’ll get approved with a 650 credit score for a 15k evo ?
prob assuming debt to income ratio is okay. Wan't be tier one but on a 15k loan won't matter much
Cool evo and FJ
Thanks appreciate it!
What if I want to buy an evo from a private party but want to finance it? Can a bank or credit union give me a loan for the evo ? And if so would they give it to me in cash or check ?
Yes you can finance private party. They will typically give you a cashiers check made out to sellers name.
In Australia you are lucky to get 10-12% from finance brokers , banks won't deal with you at all. Grey imports are a nightmare and everyone is scared of them. I would dive head in if I could get anywhere near 5%.
Just a good reminder to me and everyone else that it could always be worse. Sorry to hear the hassle it is for you though! My Evo at over 100k miles and 10yrs old was only 3%
Cash isn’t king, debt is damn, cash flow is king. Listen to Dave Ramsey to get out of debt, and listen to Grant Cardone to become financial free, cash flow will allow you to live the life you always wanted. Don’t have debt even if you were to have an asset, anything and everything that has wheels and motor will drop in value. Smart to NOT have debt.
I’m 19 , make about 2500 a month . Still live at home , no bills except phone and insurance and currently working on my credit . I plan on getting an x soon as my current car is slowly going and giving me problems . You think I’d be alright ? I’d plan on having this car for years
First, sorry for my late reply. See latest videos for explanation. To answer your question I was in a very similar situation at your age. In reflection it was dumb to buy an Evo financially. However, because I had that car I have a lot of amazing memories I wouldn’t have otherwise.
will sanders how did you manage to afford it when you were younger ?
Afford is relative term considering I too was living at home and going to school. However, I was working about 50 hrs a week and I put about 10k down. I had to put that much down to get approval; I had basically no credit.
Same, I'm 20, first car is a regular lancer es but my trade in is only $5999 and I only got about $1000 saved, I have no credit and similar expenses. I talked with another youtuber about my situation, and they told me to try to save at least 10k until you finance, so the mean time I'm just fixing up my es and hopefully trade it in one day
Yep no credit history equals down payment typically. Unless you get a co-signer or buy a significantly undervalued car
Does it cost you a lot to maintenance a evo x?
Depends. Compared to a 911? No. Compared to a Civic? Sometimes.
For example oils changes are what any normal car would be except you should run synthetic so that adds a bit.
However, brake pads and rotors (especially the MR) can cost significantly more. Same with tires, struts etc.
Does EVO8 have AYC in north America?
ZEGUO WANG no
Correct. Rumor has it because of crash testing they ditched it.
12% interest on a vehicle... holy shit man!
Gotta pay to play. Refinanced at 1yr at their best rate and had zero issues again getting credit.
Right, I understand. It's also hard to pass up on a deal. I'm struggling with not buying an evo 8... I wanna just finance it and start making payments so I can drive it. I'll pay the truck off first and pray they are still around. Awesome videos, by the way!
Thanks appreciate it! There will always be some there I hope
I think you can finance through the dealer older cars but has to be 48 months ... Also small dealers I agree, you gotta be very careful , true about repo. Etc
Dealers cab typically find you finance anything they sell; but private sellers is where it is hard
Cash is king... you should look up Dave Ramsey.
I familiar with Dave Ramsey. Super smart guy but we differ on some beliefs.
Why did yo get rid of your x ?
Could have summed this up in a 5 min video.
Ha It seems faster when your doing it
do you use KBB.com? that I look up cars are use and the miles
I don’t because no banks seem to use it so it doesn’t matter. Plus they always seem too low
13.25 the evo my friend own a 2005 evo9 MR the miles are 100k] .__.
will sanders oh okay
and 13.25 the evo my friend own a 2005 evo9 MR the miles are 100k] .__.
Yea exactly that’s really low. Should be closer to 18
lol he said "80° degrees" ...
I should clarify. Humidity here is a pita.
will sanders ahhh that I can feel. well played sir
Idk where you live but I’ve been down south in 100 plus weather but little humidity and it’s nothing compared to here at 80 some times lol
will sanders dang I know how it feels down south too, thats saying something. but I stay in Southwest Texas, Here in El Paso it's just dry heat and 100°+ weather. we're well on our way to becoming the Tuscan or Phoenix of Texas man :( its stupid hot lol
Ha! The 100 plus I was referring to was in Juarez
Any way I can contact you through a DM? I had a couple questions
Gene Ellis not sure you can through TH-cam. I’m on instagram if you want. Otherwise ask away here!
You have no idea on how to make money, please dont advise other people on a subject which you clearly have no knowledge.
*You have no idea how to make money. Please, don’t advise others on a subject in which you clearly lack knowledge.