My wife has been thinking about getting an EVO and of course the RA would need to sell to make this transition. I was wondering what people think an 04 for Sun & Sound with 31k miles is worth? The car is yellow, Nada says it is worth $12,400 Trade in and $14,725 Private retail value.

I did a search within 500 miles and the least expensive one I found was $13,900 with around 27k miles. It seems like they are holding their value decently well.

Thanks everyone, no need to post pictures as the car is in good shape.

 

I know where to sell mine then! KBB only wanted to give me ~13K for mine w/ S&S and 15K miles. My area must really suck for resale values. However an EVO of the same year w/ 33K miles booked at ~28-29K still... Evo's hold their value alot better, must be the constant supply of new tires

 

Well KBB is not the book to use when quoting these kinds of things. The banks use NADA so that is typically the only guide that I use. I still think if the car sold for $13.5k that would be a good deal as it is only 2 years old and that would mean the 2 year use on it was worth around $6000. It was bought in March of 03' so that gives a good idea of where it sits. New with all taxes and crap I think the loan was somewhere around 19.5k with $1500 down. There has to be some people out there that want this car but don't want to afford new. I think selling between the Trade and Private value gives any seller a good deal. Trying to sell the car for $14725 would be silly. Selling it for $13.5k would be much more fair.

 

i sell cars for a living and all i got to say is ^+1

 

Geez Joe, one Evo isn't enough for your household? I'll try to give you a call this evening.

 

Mitsu offer alil over 13k for mine, than they offer to pay off the whole thing and I didn't bite... yet.

I too was shock to see they are holding value quite well, that's great.

 

All mitsus dont hold their value at all becuase of mitsus problems with banks they have been having. how can you say a 21,000$ sticker car hold its value well if it only retails for 13,000$ 2 years later?

 

Yeah, but who pays sticker? Everyone knows their car drops a few grand once you drive it off the lot. KBB and NADA factor in things like incentive programs (cash back, rebates, 0% APR) into the price and value of a car. Otherwise some people would literally be driving cars for free and sometimes making money on them! Look at GM rebates of 6K on a new truck, do you think you'd pay 5K less than sticker for it a year later? It sucks for anyone that didn't buy during a promotion, but it protects the next owner from paying more for a used car than the original owner did.

 

I feel bad for you if you paid 21k or something even close. Ive said it before, and ill say it again, i paid 13.5k for my brand new 04 ralliart at santa monica mitsu. So in my case, my ra is holding value pretty dam well.

 

I paid $15k for a brand new 2004. It's barely depreciated at all.

 

+1 mine was 18k brand new, pleased to see its holding its value.

 

Well good for you! I was not asking what you paid for your car. We bought the RA over 2 years ago. We were the first person to register a Lancer of this type in Michigan. I really don't care if they gave it away. I think the RA is still worth around 13.5k, never said we would get it.

 

^^^ Huh? Joe, my comment was for ralli04art, not you.

 

no i didnt pay 21K i payed 15K, but doesnt that tell you something? if mitsu cant even sell their cars for sticker, then they are not doing good at all. look at subaru wrx's. new they are 24K and 2 years later those models still sell for 19-20K.

 

I would say their cars are holding value fine. 25% in the first year and then 10% every year after. I would say their about right on.

Sorry Arthimetic...I thought you were adding fuel to the fire.