After being convinced that my car is cursed( Its been reversed into/ vandalised 3 times this year:nuts: see my members machine thread) i have decided to ponder the thought of upgrading to another car, there is a 2003 MITSUBISHI MAGNA AWD - SPORTS for sale locally for $9,800 with 104,600kms on the clock, i have just emailed the guy to ask him if the timing belt service has been done and if rego has been renewed because it expires this month, does that sound like a good price for this car? Very curious because i wanna get a loan and buy it :cool:

A 2003 sports (not AWD) is worth about $5000 to trade, so for the AWD I'd offer him $7000 to start.

Red book

Auto
Private Price Guide $10,800 - $12,600
Trade In Price Guide $8,100 - $9,900

Manual
Private Price Guide $9,600 - $11,200
Trade In Price Guide $7,000 - $8,600

Thats definitely a good price if everything checks up. Going rate for a TJ Sports AWD is $12-15k depending atm I believe.

vegas18, how'd you work that one out? There's no point basing it on trade prices, he's not trading the car. He won't sell it for what it can be trading on, even idiots know they can get more than that for a car.

I've also found red book to be highly inaccurate on Magna resale pricing, majority of Magna's/Verada's across the board sell no where near as low as red book states.

Edit: To give people a more "accurate" idea of what these are worth, there is currently 5 for sale Aus wide and are as follows.
Private:
THIRROUL NSW, 97,250kms, $11,990
Greenbank QLD, 149,000kms, $11,500
Albion Park Rail NSW, 80,000kms, $12,900
Dealer:
QLD, 134,130kms, $11500
SA, 100,674kms, $14990

All in all, <$10k is good to begin with, so I wouldn't be complaining about what his asking.

I say go it!! Its a fair price for what it is and plus its an AWD!!!!

As always check the condition and make a smart decision. Be very careful of loans, there are always catches (take this from someone who is in a fair bit of personal loan debt)

But upgrading to a newer car is always a good thing :D

Just had a after thought; If your busted **** 2nd gen is being vandalised and broken into then maybe its the area you park/live in and now your gonna put your nice shiny new car in that situation?

Kieran

i say get it!!!

pending timing belt being done of course
if its not been done, knock him down on price,m and knock him down more if the rego isnt paid after this month too.

you can have a lot of fun with an AWD - no electronic ESP to stop the fun side of things!

downside, increased fuel consumption - but its liveable really - not overly excessive. (mine gets 10.6L/100km average over the last 3months)

if need be, you could tack the extra needed for the rego renewal and the timing belt service, onto your loan for the car if you go about it the right way.

GET IT!

Did i mention it has a sunroof too:cool: Don't like the interior in it but. Swirly splashes just don't do it for me.
http://www.countrycars.com.au/Coastal/getImage.php?size=l&ref=990934
It's not the area i live in, it's where i park at work, in the coming warmer months i will be riding to work so thats the problem solved, people just like reversing into my car for some reason.
Yep if the belt is done and rego has been renewed i will seriously consider it:D

vegas18, how'd you work that one out? There's no point basing it on trade prices, he's not trading the car. He won't sell it for what it can be trading on, even idiots know they can get more than that for a car.

Reason why I based around trade prices is that most people will trade if they can;t sell privately and if they offered him 6 or 7 on the trade he'd rather take 8 from private. I wasn;t saying what they are worth, more how I would work the deal.

well thats just stupid vegas lol

Wombat, sounds like a sweet deal go for it

i paid 10k for my 2003 AWD VERADA so for a sports you could prob get it for less than that.

he was asking for 12k for it but as soon as he said he tried to trade it in to a dealer but they only offered him 8k and he would be happy with anything more than that , i said ok 10 grand and he accepted straight away.
i probably should have said 9 , but i am still happy

you should be very happy with it if you do get it. 3rd gens are so much better than 2nds:D

definately try to knock another 1 - 1.5k off

Reason why I based around trade prices is that most people will trade if they can;t sell privately and if they offered him 6 or 7 on the trade he'd rather take 8 from private. I wasn;t saying what they are worth, more how I would work the deal.

But for under 10k he will be able to sell privately :nuts: without a doubt

Have any members got a TJ sports modded without a bodykit? Interested to see what they look like lowered with bigger wheels, could someone point me in the direction of a member with one:D

hey dude,
go to members machines and check out MAGNTZD ride. I believe his is a AWD sports and has been lowered with 18's.
There should also be a few sports in there too.

Ah thankyou, very nice makes me want it more.

Did i mention it has a sunroof too:cool: Don't like the interior in it but. Swirly splashes just don't do it for me.
http://www.countrycars.com.au/Coastal/getImage.php?size=l&ref=990934
It's not the area i live in, it's where i park at work, in the coming warmer months i will be riding to work so thats the problem solved, people just like reversing into my car for some reason.
Yep if the belt is done and rego has been renewed i will seriously consider it:D


Dont like the interior hey? Im sure with the money you save after knocking him down a bit could go to some nice leather :)

Noice choice Wombat, what colour is it, hope its a light colour, cause people kept hitting your dark one, or it's where you parked it.......

post 6 has a link to the pic of the car, the guy isn't responding to my emails so im gonna have to give him a buzz soon, hope he hasn't sold it, its been for sale since may:nuts:

Personally for that amount of money I'd get either a VRX or a Verada. Besides, AWD's are very heavy on the fuel compared to the FWD's. However if AWD is important to you. Go for it :)

I'm pretty sure this has all the nick nacks that Veradas have except leather? (correct me if im wrong) and i can just buy leather later on, and im not fussed on woodgrain inserts, need chrome handles but.

Well turns out it was a lemon i think, rang the guy, said he was selling it for his friend, who moved back to queensland with it, asked me if i wanted to know anything about it because he was still selling, asked him about rego and its been renewed, then the phone cut off, tried to ring him back a few times and got no answer, not worth the hassles i think, whats another nice 3rd gen that is sub 10k? Anyone know of any for sale?

There are plenty of nice Veradas on ebay at the moment I was looking at them today.

Cheap as chips, but you might want something with a bit more go like a sports or vrx.

Up to you dude

Well turns out it was a lemon i think, rang the guy, said he was selling it for his friend, who moved back to queensland with it, asked me if i wanted to know anything about it because he was still selling, asked him about rego and its been renewed, then the phone cut off, tried to ring him back a few times and got no answer, not worth the hassles i think, whats another nice 3rd gen that is sub 10k? Anyone know of any for sale?

Bugger...

I say go it!! Its a fair price for what it is and plus its an AWD!!!!

As always check the condition and make a smart decision. Be very careful of loans, there are always catches (take this from someone who is in a fair bit of personal loan debt)

But upgrading to a newer car is always a good thing :D

Just had a after thought; If your busted **** 2nd gen is being vandalised and broken into then maybe its the area you park/live in and now your gonna put your nice shiny new car in that situation?

Kieran

Please dont say that kieran, I just took out a loan to get a vrx, Im ****ting myself.

Yeah i almost applied for a $10,000 loan through my bank today, un-secured so i could shop around and find a car, but i have now decided against it.
It worked out i was going to be paying back $55 a week for 5 years, which is fairly cheap, but i just don't wanna be tied down to something like that atm, im only a first year apprentice so money is something im not in abundance of, might just get my car fixed and keep her till she dies, then buy something nicer when the cashflow improves in a year or 2.
Contracts are scary, especially if something comes up that stops you paying it back for a while, bad credit for the rest of your life..

Well i bit the bullet and today i was approved for a $10,000 loan.
I've picked my car and Iam very soon to be a proud 3rd gen owner.
And no, im not telling you what car it is just yet:P

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Well i bit the bullet and today i was approved for a $10,000 loan.
I've picked my car and Iam very soon to be a proud 3rd gen owner.
And no, im not telling you what car it is just yet:P

Good to hear mate :thumbsup: Cant wait to see pics and a new Members thread :D

And regarding the loan, you can always make extra payments if you have spare money at the end of the week. Sure its nice to buy more mods for the car but thats no good if you have to sell it to pay the loan. And Ive found that if you do make extra payments fairly regularly if you do ever need a few extra days or skip a payment for whatever reason they are much more forgiving.

Again Congrats,

Kieran

Good to hear mate :thumbsup: Cant wait to see pics and a new Members thread :D

And regarding the loan, you can always make extra payments if you have spare money at the end of the week. Sure its nice to buy more mods for the car but thats no good if you have to sell it to pay the loan. And Ive found that if you do make extra payments fairly regularly if you do ever need a few extra days or skip a payment for whatever reason they are much more forgiving.

Again Congrats,

Kieran

That's the thing, this car has everything done to it that i would of done if it was stock so i won't need to modify it at all. So really the cash i was spending on mods each week will cover the loan anyway.
I sign the papers at the bank next week, then in the coming weeks i go and pick up the car:D

Well i bit the bullet and today i was approved for a $10,000 loan.
I've picked my car and Iam very soon to be a proud 3rd gen owner.
And no, im not telling you what car it is just yet:P
Ahhh,let me guess........TJ Sport?:badgrin: lol

Ahhh,let me guess........TJ Sport?:badgrin: lol
You could say that, but its a bit heavier and doesnt have a bootlid.

You could say that, but its a bit heavier and doesnt have a bootlid.

YAY for wagons!!!! :D Should be more of 'em I say

Once you've had wagon, you wont go back, Its a TJ sports at the same time.

Once you've had wagon, you wont go back, Its a TJ sports at the same time.

If the next thing you tell me is that its a manual :rant:

Good buy though, cant wait to see pics :D

If the next thing you tell me is that its a manual :rant:

Good buy though, cant wait to see pics :D
nah they didnt make the sports wagons in manuals, 5 speed tippy but, cant wait.
Heres a pic, you may have seen it before i thinks, its Ryans(Little Red Wagon) car off here.

http://i301.photobucket.com/albums/nn76/longerwombat/Autosalon_06_092.jpg
http://i301.photobucket.com/albums/nn76/longerwombat/ShowLetter.jpg
http://i301.photobucket.com/albums/nn76/longerwombat/Untitled-1-1.jpg
So keen for it, reckon it looks hot as.

Mate that is excellent :D

I fell in love with that wagon the moment i saw it, would of snapped it up to if i had the cash. Very glad to see it went to another wagon enthusiest :thumbsup:

Kieran

Yeah i almost applied for a $10,000 loan through my bank today, un-secured so i could shop around and find a car, but i have now decided against it.
It worked out i was going to be paying back $55 a week for 5 years, which is fairly cheap, but i just don't wanna be tied down to something like that atm, im only a first year apprentice so money is something im not in abundance of, might just get my car fixed and keep her till she dies, then buy something nicer when the cashflow improves in a year or 2.
Contracts are scary, especially if something comes up that stops you paying it back for a while, bad credit for the rest of your life..

Worked out how much interested you would of payed on that loan ?

Your pretty much paying 50% extra for the car.

Yeah when i saw the FS thread i wanted it so bad, pretty stoked, i should have it in the next 2-3 weeks hopefully.

Worked out how much interested you would of payed on that loan ?

Your pretty much paying 50% extra for the car.
Holy crap your right, didn't even realise that till just then, thats the loan i took too, o well its all good, should have it paid off quicker then 5 years anyway.

Worked out how much interested you would of payed on that loan ?

Your pretty much paying 50% extra for the car.

Pessimism is a wonderful thing isnt it?

And yes im sure they explained all of that to him as a part of any contract issued by a bank, they tell you exactly how much you pay all together. Its just like any other personal loan ever issued in the world, ever.

Kieran

EDIT: I stand corrected, they should tell you the final amount that you pay.

Nah they didn't actually, the lady just explained that my repayments will be $56ish a week, plus an extra $3 a week i took for loan insurance, i still haven't been to the bank to sign all the papers because i did it over the internet, im sure they will explain it all there but.
Thank god i dont have to buy a house in my life, my daddy bought me and my brother one as an investment to give us a kick start in life, its ours in 6 years, and after we subdivide the land all will be well in the world.:D

Ye, well loans are a strange thing. Its amazing how loans can work in your favour aslong as their short. Often, a loan of a year or two has an acceptable level of total interest charged. Its when loans become long-term that the interest starts quickly adding up.

Homework for those interested. Work out how much a house ends up costing most people, once all the interest is added for the 25+year motgage ?

Nah they didn't actually, the lady just explained that my repayments will be $56ish a week, plus an extra $3 a week i took for loan insurance, i still haven't been to the bank to sign all the papers because i did it over the internet, im sure they will explain it all there but.
Thank god i dont have to buy a house in my life, my daddy bought me and my brother one as an investment to give us a kick start in life, its ours in 6 years, and after we subdivide the land all will be well in the world.:D

When you go to sign the papers they will read through the entire contract to make sure you understand it, they will tell you how much all up it will cost you after interest.

I got $10,000 for the VR-X. Im paying $91 a week over 3 years so interest is going to be about $3000 in the end. But Im thinkin I'll probley only own the VRX for two, sell it, pay back whats left on the loan, take out another and start the whole process again with some other hardcore vehicle.

Pretty sure this will be my last magna though.

Thats one Shmick wagon mate,those silver highlights around the bottom really set it off,good luck.:P

When you go to sign the papers they will read through the entire contract to make sure you understand it, they will tell you how much all up it will cost you after interest.

I'm sure that everyone knows that a car loan is going to have at least a 10% interest rate. Perhaps people then don't think that it's 10% per year for each year they have the loan (on the outstanding balance). Obviously, as it's a charge per year, and based on the outstanding amount, the sooner you pay it out, the less interest you pay...

***Note for the unwise***
Some loans will have early repayment clauses that will require you to pay an extra fee or a percentage of the 'unpaid' interest if you pay out the loan completely before the scheduled loan term.


On a positive note, that's a nice looking wagon.

***Note for the unwise***
Some loans will have early repayment clauses that will require you to pay an extra fee or a percentage of the 'unpaid' interest if you pay out the loan completely before the scheduled loan term.

Ah yes, a very good note there. A lot of people get conned on that one, just make sure to ask specifically if the loan they are offering has these fees. They hit you HARD

I also took out a $10k loan for my vrx, 165 a fortnight over 4 years i believe.
After interest worked out to be 13-14k, cant really remember though.
Just my luck i chose RACV and they forced me to slap on comp insurance (another 2 grand)