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Got my 15 2.4l ILX appraised for 21,000 with 5k miles.
Although it is leased, i owe about 4000 equity.
Need some thoughts and consideration, i was about to seal the deal with Pacific Subaru for a 35k WRB Wrx Limited Keyless; HK but i backed out i feel like if i wait maybe another year or so i can trade for an STi and hoping by then improvements will be made. As for now i want that Boost feeling i miss, i have always been subaru fan boy.
If you don't care about it, go with the WRX. It has the new engine. The STi still has the old EJ and should get larger WRX engine in couple years. It's not a secret that the WRX is a much better buy than the STi at the moment.
Under $35k budget, I would always get the WRX Premium for $26k.
Unless you want the car right now and willing to pay for the $4k upside down, then more power to you.
If not, i would suggest you to wait for a year or so, you might be able to break even on the ILX (Market value vs. pay off amount). Based on my experience with Honda/Acura lease, the break even point usually happens around end of year 2, assuming you put minimum out of pocket when you leased the car. But those were cars with good resale value like Accord, Odyssey, and Pilot. Not sure about the ILX.
The 1st year depreciation is ridiculous on any new car.
Last edited by oonowindoo; 04-27-2015 at 07:10 PM.
Cool i appreciate the feedback i just wanted others opinions. For now i am sticking to waiting til the end of my lease.
Correct me if im wrong but the 4k upside is that added to the price of the WRX out the door or is it due at the spot? So a 21k trade in for a 35k Wrx with 14k left to pay adding the 4k to that which is about 18k is that what i am going to be paying or is it 35k+4k ?
Cool i appreciate the feedback i just wanted others opinions. For now i am sticking to waiting til the end of my lease.
Correct me if im wrong but the 4k upside is that added to the price of the WRX out the door or is it due at the spot? So a 21k trade in for a 35k Wrx with 14k left to pay adding the 4k to that which is about 18k is that what i am going to be paying or is it 35k+4k ?
Yes...the 4k you still owe on the car is rolled into the price of the new car...and you get to pay interest on it. Unless you "pay it off" by putting a larger down payment on the car.
This is America, so you can do whatever you want. However, looking at your biography:
"College Student w/ Debt "and your other threads, where you say you are "18 years old just started school, and have a UPS job," rolling negative equity into another car isn't a great idea.
I am not sure why you even lease this ILX at 340$ a month in the first place. You should have bought that civic coupe for $12k used from the Acura dealer.
Any event, past is the past.
Try to live debt free.
At 18 years old you don't need a WRX or a STi.
Good luck with your studies. Finish school, live responsibily, there is plenty of time in your life for nice cars
This is America, so you can do whatever you want. However, looking at your biography:
"College Student w/ Debt "and your other threads, where you say you are "18 years old just started school, and have a UPS job," rolling negative equity into another car isn't a great idea.
I am not sure why you even lease this ILX at 340$ a month in the first place. You should have bought that civic coupe for $12k used from the Acura dealer.
Any event, past is the past.
Try to live debt free.
At 18 years old you don't need a WRX or a STi.
Good luck with your studies. Finish school, live responsibily, there is plenty of time in your life for nice cars
Everything right here. I didn't realize the backstory but after reading this, you shouldn't even be making $340/mo payments on a 2015 ILX. Yikes, you need to get out of debt ASAP. I always loved cars, regardless of the age, but you need to live within your means. Get a car that works, save, get your own place, then worry about cars.
Trust me, if you play your cards right starting now, in 10 years you'll be able to buy whatever you want within reason... possibly w/o a car payment. Play the long game son...
The ILX is a great car for someone your age. Keep it and ride it out. There's always going to be something else you want that's bigger and better, but it isn't always attainable. Be happy with what you have!
Yay im so ungrateful, No i am not. I feel like i couldve obtained a WRX in the first place than an ILX i am a full time college student who works two jobs. so before you judge me on my youth or flame, I simply just wanted feedback as i stated that i would be willing to wait.
You are getting feedback... And the feedback says save your money.
You are living beyond your means. Even though you can technically afford to make your monthly payments, you can't afford the car. You'll understand that statement one day.
Yay im so ungrateful, No i am not. I feel like i couldve obtained a WRX in the first place than an ILX i am a full time college student who works two jobs. so before you judge me on my youth or flame, I simply just wanted feedback as i stated that i would be willing to wait.
You got feedback
Focus on school and reward yourself with the car you really want once you land your first job!
IMO if you aren't happy with the car, then you aren't happy with it. If you want to switch out into another car, make sure the deal is good to offset the 4K you are upside down. Going into a new car isn't the wisest idea, esp a 38K subaru which will be worth 20K next year.
Trade in on a used WRX or STI with a warranty and you'll probably end up in a better car and as well with a higher payment. On the downside you'll probably spend more on insurance with either car you trade into even if it's older bc of the nature of the cars.
There are way better cars you can get into for the price range, do your research and figure it out. It's not going to be easy but remember, you are 18 and have a whole lifetime ahead of you to enjoy! Don't screw it up by financially burdening yourself more than you need to.
Also remember that you are going to want to mod the car, etc.
If it has wheels or a heartbeat, it's going to cost $$$ all the time.
If you want to wait for a new STi with FA20DIT engine, don't trade in now.
If you don't want to wait, just get the WRX.
It's as simple as that.
What are you trying to get out of this thread?
The point of this thread was not for members to bash my youth that i am currently getting, but to explore your guys thoughts and hear your opinions not of me but the situation. It is always nice to listen for more advice so i appreciate for all of your responses.
The point of this thread was not for members to bash my youth that i am currently getting, but to explore your guys thoughts and hear your opinions not of me but the situation. It is always nice to listen for more advice so i appreciate for all of your responses.
No one has bashed you...but you keep up with this kind of attitude and you'll see what good ol' AZ bashing can be like.
You are young, deal with it, we were all young and stupid once.
I think we have treated you pretty well for a 18, 19 years old.
Most of us have done what you are about to go through and we are trying to tell you the "right way" dont want you to make the same mistakes as us.
But most likely you will forget about what we said in about 3 or 4 months and go traded it in anyways and have a huge monthly payment that is not proportionate with the price of the car.
I think that is what my parents said about my generation.
Do you currently have teenagers? I have a 18, and a 19.. Its true. They are doomed. Seeing the stupidity that follows my kids into the house on a daily basis only furthers my belief in it. Its almost impossible to have an intelligent discussion with any of their friends. Sad part is is they (my kids and their friends) are all pretty much straight A students. They are the smartest dumb (book smart, common sense dumb) people i have ever met.
We're all just giving you actual sound real-world advice, that speaks VOLUMES about the people on Acurazine. If you wanted us to say,
"Sure thing OP, go ahead, drop that expensive lease payment (questioning why you're even leasing at 18 but that's besides the point), and be under water with a WRX payment."
Then read above.
Else, be happy that you have a great community with LOADS of great information, great people that care about one another and are watching out for each others' back.
Real world: No don't do it. You're in college, your WRX will just get keyed, scratched, bumped into in the parking lot. Live modestly in your college years, graduate, get a great job, and buy your car then. Trust the majority here, they are much wiser than they put off.
OP, i couldnt afford a cool car till i got a grown up job.
even then, I bought a Used TL that will last me 10+years.
i'm already on year 5 with the car paid off at year 3.
OP will read through but he'll still entertain the idea of putting himself $35,000+ in debt just for "boost".
We can't be hard on him cause we were all there once. Speaking from experience, I had a $22,000 car at 19 because "I just had to have it". Looking back on it now, having that much debt and living with mom & dad wasn't my finest hour I'll admit.
OP, just to put things in perspective for you.
My S2000 should be paid off in the next 6 months and as of right now, I'm on the fence about getting a 2015 WRX in the $27,000 range because it's really not a wise financial decision. I don't need a WRX, I just want one.
As you grow up and enter the real world with no safety net (parents), you'll start to question what you actually need and in your case no, you don't need a WRX. You don't need a $500/mo car payment.
Your ILX is the perfect car for a guy your age, let it do it's job until you actually deserve & afford a car like that.
OP should just buy a TLX, way cooler then any other Acura since 1998.
At 18 I got a good paying job and was going to school and blew threw money on cars and bikes. Looking back I would have invested more or bought a house back then. (Even though the market wasn't that great)
Tyler keep yous S..... It will be paid off which means more monies for mods.
Tyler keep yous S..... It will be paid off which means more monies for mods.
Agreed - this very scenario has run through my head a few times, I simply don't have the commitment to make the car how I truly want it - Big $.
Call me crazy, but the idea of having creature comforts, comfortable seats, utility, 4 doors, torque, mod potential, and some space other than my trunk & passenger foot-well sounds wonderful
04-27-2015, 05:32 PM
too! I'll even drive down to SD to pick it up!
