I'm noticing more and more used GSR's going for less than $27K. Ebay, Craigslist, etc.. What does that mean for the regular buyer? How much is this car going to drop in price in the next year? Is the economy in such a crisis that resale is crashing too? Is this becoming a great time to buy or great time to be out of the game?

 

Good time to buy, but I hope I don't have to sell..except for civics and other 2 liter and smaller cars, there isn't a lot of demand for luxury items or gas hog trucks.

I bought a new Corvette to park next to the evo..It was just so cheap (base coupes are going for $39,995 in some places (these are 430 hp btw). Evo's are languishing at some dealers... If you got scratch in the game, this is a good time to buy a toy for cash.

 

+1
I have been eyeing a C6 myself for the same reason

 

Economy is just bad and alot of people are trying to off load their expensive gas guzzler sports cars. I've seen regular C6s go for mid 30s and Z06s for 50s. The Evo X is no exemption. Given that used market demands favor the previous generations more than the X, the resale value will probably drop going into next year by a substantial amount. My prediction would be that used GSRs will be in the mid to low 20s by mid next year. Oh and if gas prices go up even further, you'll start to see more and more low MPG sports cars going up for sale.

If you're a buyer, waiting a few more months would be a good idea. If you're an owner and plan on keeping the car for a long time, no point in dumping it. If you're an owner and plan on keeping the car until something else interests you, now maybe a good time to sell it, while prices are still up, and start looking for a good deal on up market models (C6, Z06, M3, 911 etc).

 

If the economy is so bad and it's a good time to buy, then why are Mitsu dealers trying to get $41,000 + and charge 4.9% to 5.9% interest?

I'm going to start look elsewhere.

 

As long as you have a job security you are ok. A lot of people are getting laid off or realize they cant handle this car payment, gas, rent, ect. Just do your home work and take advantage of one of these X's for $27,000.

 

IX's are still holding their value pretty strongly.

 

I sold my EvoX to Carmax for $27k. I put it online for $29k because I figured someone would lowball me at $27k and I would have taken the offer, but I really got no response. The people from Craigslist never showed up to look at it, and really all I got from evom was offers for trades that were either way overpriced compared to what's available locally, or the trades were not priced at all.

I paid $30,589 cash for my car from South Coast. I wanted to get the cash back out of it ASAP and I'm glad I did given the recent financial meltdowns (AIG, Lehman, Merril, etc) news. These problems WILL carry over into the tech sector eventually, which is where I am.

I don't have a mortgage (or pay rent), and I have no debt, and I paid cash for my EvoX, so I don't really fall into the desperate seller category. I'm going to buy someing $15k cheaper and 1000 lbs lighter, and use the rest of the money to redo to kitchen and bathrooms.

edit - Carmax thinks they can sell my X for $32k! LOL. That's more than I paid for it new.

 

For the same reason that Mitsubishi is a failing car company that doesn't even attempt to reign in its horrible dealership network. I've been told the most ridiculous lies by the Mitsu dealers where I live.

"the MR has 320hp and the GSR has 290"

"All Evos come with subwoofers in the trunk"

"all Evos come with a 5/50k mile bumper-to-bumper warranty"

These people are morons.

 

You bought your car for $31k and sold it for $27k...honestly, that is pretty damned good for a new car. Even if you only put 2000 miles on it, that is what I would consider acceptable loss.

BTW I do not think the tech sector is going to bomb out. So have faith my son.

 

+1 on both accounts... but then again, I'm not on a coast, so our job market tends to not have such a large Beta.

 

u should've had the salesperson write it out so you can piitb when it comes to that warranty lol

 

Price wise I agree, I know a car depreciates the most when it's driven off the lot. I wasn't going to kid myself by holding out for $29k.

Regarding the economy, I think the tech sector has another year or so before it moves downward quickly. The things I see currently remind me alot of what was happening prior to the 1999/2000/2001 telecom meltdown. Most companies here are tightening budgets, paring down payrolls through attrition, slowing or stopping new product development, etc. I see it where I am in the design / development side, and my wife works in HR, and she sees it as well, as does her network of freinds. I remember similar things happening around 1999, and then in 2000/2001 the layoffs hit big time. That was a real hard time for me, and why I went into the "no debt" mode. All I need to pay for is property taxes, insurance, gas and food, and if I don't have to go to work, the gas bill is *really* low . I'm not worried about unempolyment this time (actually it would be a nice change for a while )

 

Exactly.

The idiot salesman/dealership I had told me that with my excellent credit score I could finance the car at 0%. Go in the next day and magically they want 4.9% or higher.

Seems like no Mitsu dealers want to come down on prices or apr, so I am going to start looking elsewhere.

I love the Evo X, but I can live without it.

 

ive also had dealers near me try to say that the MR has more HP than a GSR..

they are getting desperate.