Heres some bad news... While the KBB maybe high, banks are coming down on all 2006 vehicles in about 1 month or 2.

That translates to very low "booking Value" for any 2006 Evo and under. They are giving less and less money for people to finance them. Right now banks think they are worth about $18,000. Pretty soon its going to be about $14000. Which is a huge difference in financing for anyone looking to sell or buy.

This year any car under 2005's value dropped, in a month or two the 06's will drop and will be hard to finance. Dealers are only asking like $24 for evos with 40k miles these days, and thats retail. Sell your evo, or BUY your evo now!!

SOURCE: Very good friend, Finance manager at a local dealer.

 

Bah. market value will still hold their value up. Supra's from 1993 are still pulling 30k.

I suspect Evo 9's in particular will continue to hold their value based on their VALUE.

I bought my 9 with 24k miles in 2008 for $24k. It's been worth more than that ever since.

 

Yeah, supras do still hold their value. But who buys them? CASH Buyers. You cant finance a Supra.

Most people looking for a Evo do not have $20,000 cash and its not easy to get a loan for a car that a bank thinks is worth $14,000 and people are asking $26,000. Its already happening today in Northern IL, people cannot get financed on these cars easily anymore and thats at a car dealer. Think about a private seller.

 

^ you can finance a Supra. Yes I've actually looked into it.

 

Yeah with what kind of credit score? How much money down? These are all factors young people have to deal with when buying an Evo.

A kid comes in with a 550 credit score, $5000 down(which is more than average). If a Evo books for $18000, then technically with his $5000 down, he can get a car thats going for $23,000. THATS ONLY IF he actually gets a loan for $18,000 which he wont with that kind of score.

Also you have to factor in taxes, state fees, and insurance when buying/financing the car which would put it way over $23,000. So its even worse when people are asking more $.

 

Just looked up my little rocket and trade in value at the good level is 18,550, selling it myself at the same level is 21,025 with 55k on it. That is without the mods!!! Add my list of mods and who knows.

 

mods lower the price

 

Mods only hurt the price to dealers and collectors. People who modify cars will pay more if the mods are desirable and well executed. Frequently though mods are a better money maker if you go back to stock and sell them. As a package deal people won't pay as much as the mods cost individually.

 

truth

 

translation: mods lower the price

 

I bought my 04 Rally Red Evo 8 RS in September of this year for $12000 flat. It's a 1 owner car, clean title, had 96k miles. I figured it was a great deal. Had good, quality bolt-ons (full 3" exhaust, o2 housing, GSC S1 cams, gauges, Sparco pedals, upgraded clutch, all stock parts included, Walbro 255 fuel pump, XS Engineering intercooler, stereo installed, upgraded engine mount, etc) which saved me a lot of money as I would've had to buy all of that anyways.

 

Only if you are selling to a collector or dealer. Most EVO owners are not collectors or dealers. So if you are willing to get raped on your car then sell to one of those two groups. If you can't understand this concept I feel bad for you. I have sold MANY cars with mods for more than a stock example would be worth. However I didn't get every dollar I spent on the mods back. I did use the car though so it was worth while to me.

 

Most people buying Evo's are military members. At least that's what I seem to see living close to Widbey Island and JBLM... A few other people not in the military seem to be pretty well off and own them.

 

unless you're a reputable shop or similar, most people (or at least myself) see a car with mods as each mod being a potential for a weak-point if the installer didn't know what he was doing. The stories I have read on this forum as well as many others for Hondas, Trucks, etc. makes me scared to buy a modified vehicle. Plus I like building the car myself and buying a car that's modified is just not acceptable to me.

You were correct on one thing; you can make much more money by parting a vehicle out and selling it stock. It takes more work and time but is well worth it. This is why I keep ALL my stock parts, but there is a point you cross where going back to stock is not really feasible.

You will never get close to the amount of money you put into a car back. I see too often the guys that say I've put $30,000 into the car and they're selling the car as-is for $28k or similar

 

Quoted for truth. All of this is 100%. My current Evo will be the last modified car I'll buy.