2005 Mitsubishi Lancer Evolution 8 MR
Runs perfectly
31k Miles
Salvage
Light scratches with small dent on door

Is this worth $15,000 cash or would I be better off finding something else?

 

Salvage title would turn me away, hope you dont want a loan.

Unless you are making it a straight race car and had plans of stripping it down anyways. You can probably find an 03 GSR with similar mileage for 19k, with some mods if thats what youd prefer.

 

Thanks for your input... I considered that also but the price + MR made me overlook the Salvage label. Tomorrow I will see it in person.

 

An 03 with similiar mileage would be worth way more than 19k. Sorry, but great conditioned 03s aren't going for less than 22k.

-M

 

if you look around, you can get GREAT deals

I got a 03 with 31k on the chassis, 5k on a 2.3l ams stroker, 35r, EMS, exhaust, cams, intake, gauges, KW suspension, front lip, advan rs's

for 21k

so deals CAN be had!

 

I would never go with a salvage title. they are worth nothing. I would keep looking. But thats just me. good luck with your decision

 

No it isn't worth it, but why is it salvage if it runs and isn't badly damaged.

I had a friend buy an '03 for 17k with like 4k miles on it back in '05 I think it was... So... Depending on the nature of the salvage it might be closer to worth it but I still wouldn't pay over 12-13k for a salvage Evo, especially since you'd have a hard time getting a loan for it (and I don't have that much cash).

By the way MR = the worthless, especially if you're buying salvage title. Unless you REALLY want the 6 speed, and plan on keeping everything else stock, I'd save yourself some money. You can replace the roof, and should replace the coilovers if you're not keeping it stock.

 

another person desperate to own an Evo

keep saving and buy one with a clean title

 

lol yeah I have $12k in the bank so I won't be getting a loan. I will keep looking

 

if you have 12 grand, put that down and get a small loan for the rest

use your brain!

 

I have to disagree, you think putting down the entire $12k on a depreciating asset is a good idea?

I don't think it's that simple, he has to evaluate his current income, any loan obligations, other bills, etc.

If we presume that his income is not stellar, I would think finding a car for $5-6k and paying cash would be a much better idea.

Separating NEED from WANT is something that a lot of people fail to do and they regret it later.

 

it's not my money hotshot

 

the most important question is: "why does it have a salvage title".

the reason will decide if it's worth looking at.

ie.. flood damage = run away, but theft with just a bunch of stolen parts = GREAT DEAL

 

ok thanks for the input.. I make about $11 an hour and I saved the $12k which I started around May of 06. I've always loved the evo and i've never even considered anything less... My insurance quote was $160 which isn't too bad considering I live with my parents, i'm 19, and I go to school. I just really want an evo without going to the bank for help. My parents said they'd help which is how I would be able to pay for it.

 

Your car has been modified to the hilt - that's why the value is only $21k. I have nowhere near the mods you have (with original motor at 48k miles) and I wouldn't sell my car for $21k.

-M