Long term, I think so. If you search for used 300ZX TT, RX-7, Supra TT, then they go for a decent price considering some of those cars are 10 years old. The number of EVO's sold and how many changes/generations will be factors also. Now, if our EVO 8 is the last generation, then we'll truly have a collector's car.

 

It all depends on whether or not Mitsu stops providing the Evo after a relatively short amount of time... this is what happened to the RX-7 and Supra. When they were new, no one bought them, but as used cars they're priceless since they aren't available anymore. So I'd say that if you were selling in a year, then your resale would be pretty bad, there are lots of dealers with a couple on the lot who would be desperate to unload them. The problem with resale is due to a couple reasons.

First, anyone who can afford insurance will want a new one, and second, potential buyers are scared off by possible abuse to a used evo. It's a car much more likely to be abused than say, a V6 Camry which sells for the same amount of money. Anyone who says this car is a collector's edition is a gambler... cars in general depreciate a lot, and this one more than most. There's also the matter of supply. A lot of people stretched their finances to buy their Evos, and decided later that it was too much of a stretch. Hence the availablity of many low mileage examples here at great prices. People who pay $30K for a Camry V6 XLE, for example, do not generally stretch their finances because they want that Camry soooo badly. As a result, those cars do fetch top dollar in the used market despite being a year old, when depreciation is most savage.

Another thing to consider is that when I sold my RX7 TT back in 1998, before the car became really popular, trade in values were really low because the kids who wanted the car couldn't afford the insurance on it. I think the same will be true of our cars. A 30K Accord will hold its value far, far better than ours will.

PS- It's = it is, Its= possessive form of It as in "Its resale value" It looks wrong but trust me, it isn't.

 

Trade in value right now is around 21k. I would say thats pretty sh*ty.

 

According to the Manheim Market Report , the Evo will be worth 18,000 to 19,000 this time next year.

I only got 24,000 for mine with 1000 miles on it.

Hello Sano!!

 

IMHO: I think the Evo will keep a strong resale value provided you keep the miles low. Anybody buying one of these in a few years will be put-off by a high mileage car since the engine is so highly stressed already and will be expensive to maintain when the expensive parts like Turbo and Drivetrain components start to go wrong - adding mods may further reduce the resale value.

One thing that could impact resale is if insurance rates go through the roof. This happened back in the UK in the 90's when cars like the Ford Sierra Cosworth, Ford Escort Cosworth, and Lancia Delta HF Integrale suffered appalling depreciation since insurance was near on impossible to get for the cars.

 

slt - I know about the 21k trade-in you are referring to. A lot of that has to do with the fact the guy (for some reason) needed to unload his car fast. He took what was offered to him!

 

As soon as you drive off the lot, you'll lose like $3000 immediatly. That's pretty much just a fact of life when buying a new $31000 car.
Everyone knows the first year is a killer. You need to see what it's worth in the 3rd year. I've always been told that's the best time to sell a vehicle for trade-in.
My plan is to keep it for a long time! When I finally pay it off, buy something cheap and fun like an older MR2 for good mileage.

 

i had my Evo at a car lot right across the street from the dealership i bought it at for over two months. I also had it on five websites for selling cars and could not get over 24,000 for it.

 

Well that depends - do you want to look at it from the realistic and logical point of view that it's a Mitsubishi and it will hold jack**** of a resale value or do you want to live in a dream world and pretend you have a supercar that people will pay big money for in a few years?

 

The resale on this car is going to suck ***. But I never have bought a car because of resale.

 

I think it will depend on its reliability as well. If we see a LOT of EVOs breaking down with minor mods, its value will plummet, and it doesnt matter if mitsu stops as the VIII or it goes out of business (isnt it partially owned by dodge?).

If the EVO runs strong and becomes a reliable car, it will definitely hold its value later on, specially if its the first and last US Evo.

Mitsu does suck but so do other car companies as well. I think Mitsu dealers are more to blame though, and yes mitsu should do something about dirty dealerships.

STi

 

Good point JRock. But correct me if I'm wrong, but what about Galant VR4's?

Even though it's a Mitsubishi, it was a rare gem, and it still commands a high resale value, despite the fact that it's a 12 year old vehicle.

I know how crappy Mitsubishi can be when it comes to resale value, but as always, there are always exceptions.

The BMW E30 M3, for example, suffered the same way the Evo is facing right now. No one was willing to purchase it when it was first introduced, due to the fact that it was more performance-oriented than luxury, since it was worthy of the M badge. And now 15 years later, high-mileage examples still command a resale value of $13K-$18K!!!!

I guess what I can say in short is that vehicles which are sought by enthusiasts tend to have a higher resale value.

As for the Evo and the STi, I guess it's still too early to determine the resale value.

 

What Evo's with minor mods breaking down? The ones who do 6K launches all the time. Well duh it's going to break, with ANY car. Abuse it more often and it's bound to break, it's a machine, it's not indestructible.

There are Evo's that are pushing 500whp+ and suffer no problems whatsoever.

Hell, Rob from Australia has an Evo2 that runs 9's on the stock transmission, no problems whatsoever.

Daimler-Chrysler holds a 34% stake in Mitsubishi, so being partially owned by Dodge wouldn't make sense when Dodge is owned by Daimler-Chrysler themselves.

Quote:

If the EVO runs strong and becomes a reliable car, it will definitely hold its value later on, specially if its the first and last US Evo.

It has been a reliable performance car in the other side of the world for the past decade, I don't see how this Evo is any different, since we have the SAME gearbox as the previous Evo's.

Quote:

Mitsu does suck but so do other car companies as well. I think Mitsu dealers are more to blame though, and yes mitsu should do something about dirty dealerships.

STi

Couldn't agree with you more, and Mitsubishi needs an equivalent to Carlos Ghosn to revive and bring Mitsubishi into the fold once and for all.

 

I was checking used Evos today....they're going for about $25k. I do not know what the actual selling price is, but I know that I would personally pay about $25k for one with about 4000 miles on it. That's not TERRIBLE resale....

 

$5k - $7k in 9 mos? I guess it could be worse.