Came across an Evo 8 via a private seller who regularly buys and sells performance cars for profit.

The car in question:
2003 Evo 8 with 100,000 miles

Known Modifications/History:
-Tial BOV
-Evo 9 Turbo
-Evo 9 Front Mount
-Evo 9 Front Bumper
-JDM Rear Bumper
-Magnaflow catback exhaust
-Originally black, but painted Electric Blue (paintjob is "okay" at best, considering the engine bay and door jams are still black, for example)
-"Built motor" - NO IDEA WHAT THIS ENTAILS. Neither does the seller. Absolutely no paperwork provided regarding any modifications.
-I did get to drive it a bit and it's quick. I'd assume 400whp, judging by my butt-dyno and previous experience with quick cars.
-New spark plugs.
-New battery.

Issues:
-Currently needs a retune, presumably. When starting the car you need to tap the throttle to get it going, if the RPMs dip below 1,000 then the car shuts off. I was told it has to do with a lack of EGR and that it has to be retuned (which is happening today or tomorrow, and I'll be seeing the car again on Sunday).
-Check Engine light is on, but we'll see where that goes after the tune.
-Front bumper needs to be painted to match (it's currently red).
-Needs some serious cosmetic care. Luckily I know what I'm doing in that department and have the time to dedicate several hours to this.
-Car has been sitting for the better part of 4 years (only driven a few hundred miles in that time, as I was told). Screeching serpentine belt and going to need new fluids. Tires may be shot too but I'd get a proper set regardless.

Price:
He's willing to sell it to me for $10,000 this weekend. He knows, as do I, that if he keeps this car and repairs the immediate issues himself he will be able to get more than that. I'd assume mid-teens depending on what it ends up dynoing.

However, I feel like with the lack of known history of the car and the way she "runs" at the moment, I don't think it's worth more than $8,000-$8,500.

Any input? Suggestions on what to look into? What would YOU offer?

 

Yeah, details are sketchy. Sounds like this EvO has been worked over quite a bit. Low, private party KBB shows around 10K

Some EvO's have been selling at a bit of a premium due to their rareness these days, but maybe an offer of 7K-8K would be reasonable or maybe just passing on it all together

 

Imo, save your money and pay a bit more for a car with fewer issues.

 

^^ what the poster above said. This is a pass all day

 

and also keep in mind that if you buy this car, you are likely going to be stuck with it as tryin to sell it in the future will be next to impossible... repainted cars are hard to deal with because they are rarely ever done correctly.

 

Chances are the car will need at least a full maintenance work over. If its been sitting for 4 years it probably needs a new timing belt, drivetrain fluids, etc... If you do pick it up factor in a couple grand just to get the routine maintenance where it should be along with other misc stuff. If there is anything actually mechanically wrong with it then it could easily set you back thousands in repairs.