Today on As The Turbo Spins, we're going to talk about used car prices on Evos, but particularly the Evo IX.

I'd love to hear some feedback out there from people that:
(1) Bought their IX used and don't mind sharing what they paid.
(2) Sold their IX and don't mind sharing what they got.

I'll start.
In 2006, I bought a brand new Electric Blue base IX from South Coast Mitsubishi. With the $500 loyalty rebate, I paid $28,099 for this car.

Here's on old ad for the prices at the time.
https://www.evolutionm.net/forums/hu...r-evo-now.html

I no longer have this car, but if I did, here's what it books for today via private party and what you could expect insurance to pay for it on a claim if you totaled it in an accident. Assuming "excellent" condition on all-

45,000 mile example- $20,700
55,000 mile example- $19,800
80,000 mile example- $17,100
100,000 mile example- $15,000

If I still had my car, it would have just shy of 80k on it. I underlined this mileage range, because I figure it to be fairly typical. If I totaled it, I would probably get $17k, but I would fight for the highest possible, because I keep my cars really clean.


All that data shared, can you tell me why some eight years on, people think their heavily used IX with 80,000 miles is worth $5000 - $7000 (and beyond) more than book value?

It's almost bad comedy. Do people really spend this much on an eight year old car with 80-100k miles?

OK, I get there are some with thousands of dollars in mods, but we know that doesn't really increase value unless it is a really special or famous car, and almost always you'll benefit returning to stock and selling the mods separate.

I also get that there are some people that are collectors, and an unmolested Evo IX with less than 20,000 miles going for a few thousand over value makes sense. What I don't understand is how someone would pay $5k + more than what the car is worth on a high mileage car that is probably a bit rough (like most of the used IXs I see for sale in the flesh) knowing that you'd lose thousands if you wrecked it.

Enlighten me, please. And share your stories!

 

Evos are out of production, somewhat rare, and in high demand.

The STI is a bit more of a head scratcher to me. While they are out of production, there is ALOT of STI and WRX around, and much easier to find for sale than an evo so I have a hard time seeing why they're value is so high.

 

I paid $23.5k for my TB 2006 SE with 44k miles from a ford dealership in the middle we west Texas (BFE) in October 2011

 

3 years ago I bought an unmolested completely stock eb evo ix.. 26k miles.. 1 original owner(older gent), only thing replaced were the tires(@20k miles!)... Asking price was $23,495.... I got it after negotiating for $22,100!

Ive always wanted and Evo, so I bought one. I think anything especially cars can be bought for what someone thinks its worth to them.. Just have to find the right deal..

Just like supras.. Evos are no longer being produced.. The evo ix has the last and best version of the legendary 4G63t.. So I could see the supply and demand aspect...

My opinion....

 

I paid, $26k for my 06 MR with 24,000 miles, full bolt-ons, Bride seats, Takata harnesses, and Volk RE30s. It was a bit more than I wanted to pay, but the car was (mostly) clean, with a single owner, and parts I would have put on myself so I wasn't too pissed at the cost.

Since then I've put way more than I paid for the car into mods...

The main reason people ask stupid money for Evo 9s is they didn't make many of them to begin with, they are the best model of Evo, and most of them have been hatefully molested. A clean one can cost nearly as much as a NEW Evo X. It's a lot like buying a MKIV Supra, they go for stupid money despite how old they are because they are a desireable platform that is discontinued and most of them have been ragged to pieces.

 

I got my 2006 EB evo 9 3 years ago for $22500 with 58k miles on it. I felt I got a great deal considering how clean it was and the moderate mods it had on it.

I have mine listed for sale now for 27k. Its got 69k miles now. I have thrown by far more than the 5k difference in it than what I paid, but I always list a little high so people can jew ya down like normal lol.

As of right now, I am only looking to sell to start another project. Dont really want to sell or do I need to sell, hence the higher asking price. Although, the more I look into my new project, the more I want to drop the price to get it sold quick haha.

 

Bought my 2006 Evo IX November 8, 2008 with 29k miles for $23,000 (private party)
Sold it October 25, 2013 with 95k miles for $17,500.

Not a bad investment!

 

Private party for my car says 21.5 with 60k. I would hope to get 24 for it if I sold it. It's def worth it plus more

 

Blue book is completely irrelevant when dealing with specialty vehicles. If I sold my IX I'd post it for 20-21k probably with 65k miles. If someone thinks its too high then they can go buy the next evo for 17k... Wait, that one doesn't exist in good condition.

Same thing with my Jeep GC CRD. Book says its only worth 16k, yet there are none for sale in my area so why would I price it to that point.

It just comes down to what you can get for it. Why price it lower to conform to a silly book when people will pay more.

 

This is on going in this community that mods do not add value when I believe they certainly do. Is it 100% value, no, is it a percentage at all? No. A cars value is placed by it's owner. I paid 22k for my electric blue ix with 55k miles on it from a dealer 2 years ago. I felt it was high but the want for the car exceeded that fact. It had an intake and catback. Now with close to 20k in parts / labor extra I feel I can get 25k for my car with no corners cut on work or quality of parts which I think is completely acceptable. The car currently is approaching 85k miles, 10k miles a year average isn't too bad.

I use kbb and nada VERY loosely for a starting point on almost any vehicle, motorcycle or atv but those numbers at the end of the day are all consumer bull****. As an enthusiast you have to take into account many other factors.

You say you don't understand why someone would pay so much for a vehicle with such high mileage. This may be why you don't own yours anymore. These cars are damn reliable if you keep up on all the basic maintenance. As I said, even though younger people want to get their hands on these cars, it certainly is a car for an enthusiast and I believe that's what keep the market high. Along with one seeming to be wrecked once a week the cars are becoming rare.

 

paid my evo IX 28 some change OTD, back in early 07, just racked 100K, im the only owner and modded conservatively and i do not plan to sell it. i know what i have if you want to pay my ridiculous asking cash its yours and i do not let some book dictate me. look for pricing for supra, rx7, toyota corolla ae86 once we in the same page lets talk
basically it is the last true evo that only produced in short 1 year, supply and demand applied on it.

 

I got my IX for 18k from a dealer in Washington with 36k on the clock... Then 11 days later the engine blew because the shop that did the work (original drivetrain and interior were stolen) overtorqued the oil pump pulley. So with this car it's just like the parts, you get what you pay for.

 

How about "Why price it lower to conform to a book when silly people will pay more"?

It matters when it's several thousand past loan and total loss value. Those of us who are older probably don't care as much about loan value, because we would have a good down payment. But it's still frustrating if you total it and the insurance company laughs you off the phone when you want $26k.

 

06 ix se with 33k miles $21k from dealer in January 2013

 

I bought a 1 owner, WW IX RS, May/June last year. A couple minor bolt-ons & e85 tune. No accidents, needed a little TLC, mainly a very thorough cleaning. It did have the same water leak/electrical issue that is heavily gone over in the "Electrical Gremlins - symptoms and how to fix" thread. No big deal, I will be fixing that soon. Car has 61k miles on it, I paid $17,500.

I traded in my GG IX MR last Nov. I was the original owner, 68k miles, I put the car back to stock. They gave me $18,350. I was happy with that, I may have gotten a little more out of it if I sold it privately. But it was quick & fairly painless but I didn't have to deal with low ballers.