Yellow Evos fetching the highest values!

SC~

 

People not wanting to buy used turbo cars, what a load of horse****!

Explain to me how, a MKIV Supra TT, has such remarkable value, other than the obvious fast and the furious effect, and finding a stock Supra TT is like finding a virgin in SoCal, due to all of them being abused?

I think the reason why the Evo's have low resale is due to the fact that these morons keep saying "I can get this for this $$$ at the dealership", and people keep giving such low prices to sell their cars. Keep it at a reasonable price, and it would most likely stablize more. Of course, the car isn't even a year old, so we will find out in the years ahead.

 

Like i said before. Mistubishi's resale value on all their cars sucks on the whole. Very rarely does a specific model from a car manufacterer sell for more then what the resale is expected to drop too. RX7's don't count because they aren't made anymore and are some what a rarity compared to civics.

Also I've seen RX-7's go for dirt cheap too. Anyone who pays 19k for a RX7 is crazy. Not when they can be had under 10k. Unfortuneately this is one of the reasons I'm thinking about picking up a used EVO. Only thing that scares me is dealing with someone else's mess (If they didn't break it in right or if they abused the hell out of the clutch...etc).

 

Has anyone considered that the resale value of this car does not suck but a lot of owners just paid too much initally for their evo?

If you think about it, a brand new evo is around $27k-$29k so a used one for $24k-$26k in mint condition is not too bad. Actually it is better than a lot of cars?

Obviously, if you paid $28k plus a $5k dealer premium, you will think that a $24k-$26k resale value is bad.

And also keep in mind, most cars take the biggest hit in the first year. True measure of resale value can't be made until more time has passed.

I have a feeling most of the people stating that the evo resale value sucks are one of three types of people:

type 1: You paid msrp or more to get into an evo.

type 2: You sold to a dealership rather than in the open market.

type 3: You are in the market to buy a used evo and want to have evo sellers believe that their cars are worth nothing.

 

This example is somewhat misleading. The EVO MSRP is $30k (pretty much all have spoilers and sunroofs), which is a more realistic starting point of depreciation comparison. Yes, in recent months because of poor demand and end-of-year specials, they can be had for as low as $27k in some parts of the US, but these prices already reflect some depreciation due to the time of the year.

While $23k trade-in for a perhaps six month old $30k car with only a few thousand miles is not truly awful (look at Ford Explorers if you want to see truly bad depreciation), it is not what people expected for a relatively limited production car with the reputation of the Evo. And it is extremely poor when compared with the typical depreciation of Acuras, BMWs, Hondas or Toyotas, for example.

I'd like to think prices will stabilize as more people find out what a special car it is (even at full MSRP). However, I'm not encouraged by the pathetic reaction on this board to the new RS, for example - even Evo owners just don't seen to get it. I suspect a lot of people in the US don't get the Evo either, which is why it has not been a sales success - and cars that do not sell well when new are unlikely to have strong resale values. Perhaps Japanese automakers were right in resisting bringing special editions of their cars to the US - there are not enough potential buyers to justify the effort.

 

It lacked a few thngs...the STi is faster in a straight line...there are so many reasons why the EVO may not be the big seller some thought it would be.

Also its not limited production.....esp. if there are still some 03's to be had....I'm sure dealermarkup has a little do with this.

Fact of the matter is you can't expect one model to turn around a car companys reputation or raise its depreciation. Mitsubishi has historically been on the lower end of the depreciation scale so comparing the resalue value of one Mistu model to a whole car manufacterer's (IE: Honda, Toyota, Lexus etc) will not make sense.

Mitsu's resale values on a whole aren't as good as Hondao r Toyota's....just a fact. I suspect that if they keep it here longer the resale will get much better....and if the rumours of premature drivetrain failure and dealer warranty denials subsides that will help as well.

 

Hey.... you guys every think of trying to sell these things in Canada? Heck, contact a dealer up here, and see if they'd be interested in it.

There is currently ONE Evo VIII in Western Canada according to the dealer that I bought my OZ off of in Aug.

Mitsu didn't bother shipping them to Canada because they couldn't keep them on the lots in the US, and were getting above list for them at the time.

Most Canadians are open to buying cars from SoCal due to your weather conditions, as well as our dollar is currently closing the exchange gap (close to $.80), so the difference in money isn't that much right now.

Mitsu is also doing a strong marketing push here because they are new to the Canuck market... and they are doing well.

Just a thought though... if you list it in Canada, make sure you list the price in CDN $$, because as a country, most of us don't like finding out at the point of purchase that we have to add 20+% for the exchange.

Good luck.

Cheers,
AJE

 

It's always difficult to assess value for a product in the environment of a biased affinity for a product, which is what the evom community represents. In all likelihood the resale for the Evo will be abysmal until the car can no longer be bought in the U.S., and is viewed as an unattainable novelty. that is pretty much the situation with the Supra and the RX-7. The Evo will never have a mass appeal in the U.S. due to it's extreme lack of comfort and amenities, it's purposeful interior and unforgiving ride. It is an amazing performance car that you purchase solely for the sheer, unadulterated exhiliration of driving it. there really is no other reason to have this car. I plan on never selling mine, so I could care less what it's market value is. We'll be lucky if the Evo is even imported to the U.S. after 2004. They were projected to sell 5000 units in 2003, but only moved 3500. Very weak sales. The only way the car will sell is if Mits does a wholescale revision of the car for the next version of it, the Evo 9 or whatever. If they make the body swoopy and sexy, upgrade the interior, go with a version of the 2.4 liter that is in the new lancer, offer leather, cruise, etc...the car MIGHT sell...but people like us will not be interested in it. So, in short, the enthusiast market is a very poor indicator of a car's value, let alone it's potential profitability to a manufacturer, who is in the business of selling as many as possible, not making the completist enthusiasts happy. Hence mits take on the warranty...it's all just business fellas.


Percy Howard

 

So if the Evo GT-A was released here, it would sell extremely well then, eh?

 

The GT-A would be more like the STi here, more comfy.. and the STi made Car Drivers list with the Porsche GT3, 350z.. but no Evo...

 

That STi is a nice car, but feels like a brick. Heavy and bulky.
Prolly moves like a SOB, but in the end, I don't want a tank that goes fast, I want something light that goes fast (quick to stop, better handling?)

 

It seems theres a big hit to be taken if you try to trade an Evo in with a few thousand miles. Any horror stories to be had about this?

Mike

 

"Michael A" just bought a black Evo with 4000 miles (roughly) on it for $23,500......

that makes my 8000 mileage Evo worth less than $23,500.

I would think this is "normal" depreciation... if you bought a 2003 Ford Explorer you would be in the same boat.

 

Its all about who you sell it to....trade it in to a dealer and of course youll take a hit.

 

The minute the car is titled in your name you take 15% hit in value.