Evo IX used car pricing: Thousands over book value
I paid 7500 for my 03 ly with 119k bought it right from the 1st owner. All stock even the radio. A car is worth what someone is willing to pay and not what a book says. Look at kbb nada black book and any of the other guides and you will see a big range between them all. The fact is these cars are hard to find and short supply. Im in the car business and evos and subbies are bringing retail at most of the actions. Like most of the classic cars selling for stupid money, there book value don't mean anything its what a person will pay to get what they want.
I paid 7500 for my 03 ly with 119k bought it right from the 1st owner. All stock even the radio. A car is worth what someone is willing to pay and not what a book says. Look at kbb nada black book and any of the other guides and you will see a big range between them all. The fact is these cars are hard to find and short supply. Im in the car business and evos and subbies are bringing retail at most of the actions. Like most of the classic cars selling for stupid money, there book value don't mean anything its what a person will pay to get what they want.
Like said its all about what someone will pay not what any book/guide says.
Again, to Noize's point that is glossed over. You pay 25k for it, wreck it 2 months later, and insurance pays out 17k via Nada Guides. You just lost 8k. How is that acceptable?
Evolved Member
Joined: Feb 2008
Posts: 1,171
Likes: 1
From: Falls Church, VA
Granted, the prices the local dealerships try to charge for Evos is stupidly high.
I bought my first evo IX years ago for $22k. I then totalled it in a pile up about a year later. The insurance company gave me $25k based on the condition that it was in and the price local auto dealerships had recently sold the same car for.
Granted, the prices the local dealerships try to charge for Evos is stupidly high.
Granted, the prices the local dealerships try to charge for Evos is stupidly high.
Just the way I see it.
I look forward to reading this thread later tongiht
That means that the car was worth the possible loss to anyone that is willing to pay more than any guide/book value. Ultimately if it is seen as unfair, then why pay 25k for a car when its only valued at 17k? No one held a gun to anyones head saying buy this NOW. Its a conscious choice to pay more/ what its worth to you. If no one was WILLING to pay more than the book/guide price of the car(EVO for example) then the prices would be less. Just the way I see it. I look forward to reading this thread later tongiht
As far as I know the car had no issues with the previous owner and even now it has no issues under my ownership. Before I bought the car I ran a carfax and it was clean. I know the previous owner as he lives one mile from me. He is from NJ but to my knowledge the car was never driven there. He told me it was only driven in Alaska and Arizona, the only two places where it was registered. There is no rust anywhere on the car including the underside. I've spent just as much time under the car as I have driving it in recent months. It really is extremely clean.
Congrats!
Besides that, even if they didn't, the question proposed is retarded. It's like asking, "How is it acceptable that you just dumped $25k in your drivetrain, but if someone totaled it, then you won't get that money back out?!" Oh noes!
Like everything worthwhile in life, you've got to pay the price. And if you're really concerned about it, (and your insurance doesn't pay out like mine), then you might as well get a declared value insurance policy. Voila! Problem solved.
Evidence for the second claim in this sentence is where?
Newbie
Joined: Oct 2013
Posts: 33
Likes: 0
From: Florida
Florida is a tricky state for Evo 9's, hard to find and most are over kbb. I was fortunate to find mine at a luxury dealer that had limited financing options for people with less then good credit. Having 120,000 miles I fortunately didnt have to worry about that bs and walked out the door at 16,700 including tax and title. The car was clean car fax but it had some issues. The car came with Full coilovers , works emotion wheels, full exhaust and injen upper & lower piping. The dealer had new clutch installed as well as 1st and 3rd synchro replaced so i felt the car was worth my time. I drove it out of the shop and over to mitsubishi and had all the timing components and water pump replaced. So ruffly $17,300 total invested at time of purchase and private party value is around $12,000 and dealer price is around $15000... There is no way you will find someone selling a 9 for kbb pricing in Florida.