I picked up my VIII earlier this year, took out a 11k loan with USAA at 2.9%, it's a 2003 with 130k on the chassis. Maybe USAA is a bit different than most banks, but i'm just putting it out there.

 

No. Banks leaning toward approving lower loan amounts doesn't mean that it will drive down the market price of the car; it just means that the buyer will have to have more cash in hand. The demand will still be there, but not all of those who want it will be able to get their hands on it as easily.

And just to throw it out there, I will never sell my bone stock GG IX SE, which I purchased new 7-8 years ago. I remember when the Evo X came out a while back, I went to the dealership just to look at some numbers for fun, and they offered me "maybe $23k" back when it had only ~10k miles. When I was there a few months ago for an oil change, they said that if my car were in their possession, they wouldn't have a hard time selling it for $29k... and at that time it had ~70k miles.

 

I don't want to turn this into mrowkanomics, but absolutely the willingness of lenders to lend is what drives the price of any asset.

Imagine what would happen to house prices if all banks everywhere were to stop mortgage lending.

 

There's a huge difference between purchasing homes and purchasing cars though, especially when we're talking about a car that might have a market value of $25k, give or take. Even if a bank will only finance an amount closer to Blue Book, the difference generally isn't something that a serious buyer wouldn't be able to fork over.

 

I'd say that rule of mrowkanomics applies to any asset which buyers typically finance. Houses are just a more extreme example.

Imagine what would happen to the price of evos relative to other cars if banks were suddenly willing to lend with no money down, but only to purchase or refinance an Evo?

 

But are you taking supply into account? There aren't exactly a ton of Evo IXs (at least not in great shape) on the market to begin with, so I don't think that the financing aspect plays that big of a role in the grand scheme of things. It will to the average person belonging to the 25 and under crowd, but there are plenty of other buyers who aren't concerned with that.

 

Just sell your evo if your worried about it, no point in losing sleep

 

There never were many USDM Evo IXs, but the supply of these cars remains fairly constant, dropping only slowly with time. Supply is unaffected by the availabilty of financing, except perhaps as it affects the "should i fix it or junk it?" equation.

While there are buyers that buy their Evos for cash, I suspect that they are a minority. Regardless, the cash buyer price is still affected by financed buyers.

 

To the original question, for me no time is a good time to sell a IX. But to you it depends on your life situation. If you bought it only to sell it down the road and try to make money, well you bought the wrong type of vehicle in the first place. And the value of any Evo while affected by financing won't have the waves that the BJ crowd see in good and bad economies in my opinion. I don't see guys reliving their youth with an Evo because they weren't everywhere like the camaros and mustangs etc.

Just my opinion and good luck if you decide to sell.

 

But that's the supply in terms of how many are in existence (which is only going to decrease obviously, but I wouldn't say it stays consistent), but the market in this case is more about the inventory, as far as how many are on the market for sale. Part of why the car fetches a good amount is because a lot of the current owners don't want to sell them... just look at half of the posts in this thread.

For example, there aren't a ton of ITRs, but they can still get a good return since they are in demand but there aren't a lot for sale... I look every so often online and they're few and far in between and still sell for a good amount, unless you want a crap condition example. But if every ITR owner wanted to sell theirs all at once, then there would be slightly more flexibility in the price.

 

Fine, there is not much supply, but is not as if there ever were many Evos for sale in the US, and that number has not changed much over time. Same as any other car no longer in production.

I just don't see demand rising any time soon, in part because of financing.

As to whether Evos will ever appeal to the B-J crowd? I don't know. Lots of cars that weren't sold in large numbers command healthy prices there. Vintage Ferarris come to mind.

On the other hand, in some ways a vintage sports car is easier to keep running than an Evo. Parts may break and they can be scarce, but they can be fabricated, especially if that part is necessary for a $500k collector's item. This is harder to do with electronic components.

Also, I have no clue what Mitsubishi parts support will look like in five years, much less further out.