Why are people selling Evo's so cheap?
 

Why are people selling their Evo's so dirt cheap when KBB values are much higher? I looked up the going rate for my 04 in good condition and with it's low miles and it's almost worth 27k so why the hell are people selling their evo's for 21k or 22k?

because of the :mitsu: dealers on the west coast selling new evo's for under invoice. :lol:

that might have something to do with it. generally, ppl that sell their evo's on a forum dedicated to that car, sell for cheaper than other places. i sold my 03 evo privately out of state for its TMV. you just gotta know how to shop around and know what others are selling the car for. competition is a driving force for this. i kinda got screwed on my m5 recently. it was worth 36k on kbb/edmunds...but could only sell it for 29500 since that's what others were selling it for.

Because thats how much they are worth.....You can get evo 9's for 28gs....

Tell KBB and Edmunds that.

^lol

know a bunch of people in NEW YORK selling there 04-05's for like 20 g's cause they got there names on the list for the 9.5 SE's and they just want money for the downpayment lol

What if there is not a 9.5 se.... what if they are selling thier evo's for nothing...

so cal dealers are giving good money for 03-05 trade in. Mint condition Evo's according to KKB.com are worth good $$$$

I paid less than that for my 03 new. I would have sold it for more than I bought it for. Which would be nice, but highly unlikely. Sold mine for $21,000 with 40,000 on the clock.

Quoted from a different post of mine.

I disagree. Something is only worth what someone is willing to pay for it. Something may have a "market value" of $20k but if the highest interested buyer is looking at $18k as the magic number, then it is only worth $18k. Try waiting or listing your vehicle/item in other places. The trick is to find the buyer who thinks that your vehicle/item is worth $20k or more.

But there will always be teenagers running around car forums with lines like "my parents are going to help me out but I can't go above $17k, although if I pushed them I could get $18k..." so good luck to market value.

This happened to the S2000 during the first 3 years of production. Everyone and their brother went out and got one and either couldn't afford it, and had to sell it at some amazingly low price to get out of the 14.9% loan they were in, or they thought that the car was more than it was, which happens with the Evo as well, and many people traded it back in shortly after purchasing so the market was all of a sudden flooded with cheaper used S2000s.

it's economics 101 if you think about it.

take into account what kq_junkie and LI Pinky mentioned. you have people who sell their car at a low price because they can afford to take a loss so their competitors need to lower their selling point to compete with them. plus, with these forums people who are buying can look at old threads where a car was sold and see that selling price. that buyer now knows they can find a car for that amount and may not budge until they find a car at that price. as this goes on the history of those sales becomes the 'social norm' for anyone going into that market to sell their car.

edit* thefourth is right on - something is only worth as much as someone is willing to pay for it.

Although, KBB and Edmunds are great resources to estimate a vehicle for pricing, it really comes down to each individual's particular situation. A sale is only a sale when you have a available Seller and a willing/able Buyer who consummate the transaction notwithstanding the price. Sure the price is a big factor, but if both parties agree on whatever that price maybe, then the deal is sold and maybe sold at thousands below blue book value.

Another thing to take into consideration for the selling aspect for a dealer to consider is the efficiency of the vehicle on the roadway. I for one love my car, however going from a modded civic to an Evo VIII is no comparison in regards to performance. However, gas efficiency and the amount of trips to the pump has doubled. I went from a car that estimated 28-30 mpg to 20-23 mpg. Right now the majority of buyers are looking for gas efficient vehicles and there is only a small market of buyers that are willing to cross those boundaries and purchase a higher priced vehicle such as the Evo. I know this probably doesn't relate to everyone on the site, but look at what your buddies are driving, (I am only making an assumption here) more than likely there are driving Scions, Celicas, Civics and so on. So like I stated earlier, there is only a small market of buyers that are willing to spend the cash to by an Evo, let alone realize that the vehicle they bought is not the best choice for gas economy. Hence the reason why a majority of dealers are selling Evo's under kbb, NADA ot edmunds suggested prices.

Another reason people sell them for cheaper is to sell them quicker. If you hold firm on a price, eventually you'll find the 1 or 2 people who are actually willing to pay it, but if you need or want to sell it quickly you may have to take a little hit. Same with selling a house in an off market. And right now with new 9's and even more prospects, it's somewhat of an off market for older Evos... but they will sell.

Wow this thread really heated up in only a matter of a couple hours.. I'm looking to sell my 04 within the next 2 monthes to avoid my huge insurance bill and next fall I'm planning on going away to college and I won't be working so I can't make payments so I have to get rid of the car but at worst I have a year to get rid of it which should be plenty of time to find a buyer will to pay a good amount for it. I just think it'll be a damn shame to let the car go for anything less than 25k. It is an 04 with Buschur Stage 1 and is in good shape and has only 12k on it.