so i'm gettin married in a couple months and can't afford my payments/insurance on my evo x anymore and went to trade it in. car max said my car was worth 23k... lol... i've had it 10 months, bought it for 34k out the door... so its retail has dropped 11k in less then a year... i go to another dealership and they offer me 25k... wow really?

 

Not to be crass but what were you expecting?

New cars depreciate and the biggest hit is within the first year of ownership.

 

25K for trade in is about right maybe 26K tops.

Trade in they SCREW you hard. If you sell outright you could sell for 27-28K depending on miles which also effects trade in. I'd say 25K trade in is pretty decent actually. The 23K is just trying to screw you.

It is a 2008 model even if you bought in 2009. The Evo is niche car. It's not ment to be bought then used for a year and traded off IMO. TO a dealer it's a 2yr old car with xxxxx amount of miles. 25K is a good trade offer IMO.

 

is it base or SSS, how many miles do u have on it

 

base, 8k

 

Check Edmunds appraisal prices. They usually are pretty accurate and reflect what a dealer can hopefully sell your car at an auction if need be. They have a trade-in @23k and Private Party@25.7k. Oh well.

 

It is a 2008, even if you only owned it 10 months. That is the hazard with the way Mitsu is running the Evo lately. 2006 for two years, 2008 for two years. Maybe 2010 will be for two years? It screws over the customer. Why not just call it a 2009? Emissions/safety laws or something?

 

25k is pretty good actually for a trade in value. and yes once you drive a brand new car off the lot you already lost money. and what Pr3z said, a nice car like this isnt meant to be trade in so quick. if you want the full money out of it try and sell it yourself. otherwise trade in your goin to take a big hit

 

Considering it's an 08, in another word, it's a 2-2.5 year old car, 23-25k is pretty decent for trade in values. 1st year of ownership of any car is probably the biggest depreciation year. 15-25% is very normal.

 

Yeah, the only way I can justify trading-in a car is if ur state gives the tax break by only paying diff bettween new car price and trade-in value. In my case on a $35K car I save somewhere in the neigborhood of $1900. Also, Edmunds values are really low IMO! On my last couple of trades I have got KBB good cond numbers.

Good luck with ur situation!

Matt

 

The problem with the market right now is finding a private buyer who can afford a $25k car with his own financing or cash.

of course the dealer is going to try to get rich off of one customer. the used car business is where they really make a killing.

 

You said you paid 34K OTD, how much was the vehicle itself? I'm guessing 31 or 32K? So if a dealer's offering you 25K, I say take it and run! You're not going to get much more than that selling it yourself, plus all the hassle. And if you think your depreciation is bad, check this out: http://www.autotrader.com/fyc/vdp.js...standard=false
That's a $65K car new!

 

i am surprised that you're surprised. check the private for sale threads on the X and you will see why 100% of the post here have said get the 25k and run.

i have seen lesser miles with the SSS sold for 26k.

 

25k trade is awesome.
You're not going to get better than that, unless its on a really expensive car.

Outright at 26k right now would be a gift.

Welcome to the upside down club. I expect to be very rightside up after 18 months.

 

Dealer tried to give me $29k for a car I paid $41k for. I told then to go f*ck themselves... literally.