Ok, as I have mentioned in the https://www.evolutionm.net/forums/la...th-buying.html post, I am a 20 year old college student looking for a economical car but isn't like everything else out on the road, but isn't posing as a wannabe Need for Speed Underground car.

I have been doing some research for an OZ Rally Ed. Lancer in Indiana and I have come across a number of OZ Lancers that are on the rather "cheap" side (eg, http://powercarsearch.com/Car/Used/1...hi-Lancer.aspx). Other cars of similar year and mileage are much more expensive. Is this a trend that OZ Lancers have a low value after a couple of years?

 

Well, the choice is ultimately up to you. I've had my OZ rally for 4 yrs now, and I've seen quite a few with approximately the same mileage or more than mine selling for between $4,000 to $6,000 in Ontario, Canada. I'm not sure what they are going for in the States. I think the condition that the car is in plays a huge factor. I wouldn't say that the OZ Rally depreciates faster than any other car because you are only going to get what someone is willing to pay.

If you are just looking for a good economical car, why are you so worried about depreciation? Use the car to fulfill your current transportation needs, and then once you have the money for a new car, then worry about depreciation at that point. If you want a car that will last you forever, get a Civic, or just buy the OZ Rally if its what you really want, and just enjoy driving it.

 

I am not "worried" about depreciation, it was just a pattern I noticed and didn't know if there was a reason for it.

 

You also have to remember that its a 6 year old car. I found mine for sale in the upper half of long island, ny and the guy selling it was asking 7500 for the car with 76k miles on it. We talked him down to 7000. So i'd say that price isn't quite out of the ordinary.

 

Hello,

I dont really understand your questioning but I think the Lancer is a pretty durable car as see many here for sell that are still running despite having 130,000-145,000 miles.

When you buy it just make sure routine stuff has been done because unless you know how to work on cars the stuff can get expensive fast. For example to change timing belt, alternator belt , serpentine belt and water pump is like a 750 dollar job at the shops. etc etc.

I bought my 2003 oz for 4,900 around three or four months ago, I chose to buy a 2003 as to me the 2004 and up is kinda ugly as the lines dont look as good as on the 02-03 lancers. It has 95,000 miles but runs good despite the old owner not doing any routine upkeep. I'm currently going through it and fixing the stuff though.

All in all it seems to be a good basic car, in my opinion the gas mileage (mine is Automatic) isn't what you'd expect from a small 4cylinder and the car isn't very fast but it is fun to drive and handles well. The other good is the Lancer has many aftermarket stuff you can do to it to make it look better , preform a bit better or etc, not as much as Honda but is plenty.

Justin

 

BTW, 7,200 for a 7 yr old economy car isnt cheap at all.

 

I really like mine, however I do wish i had bought an ES, simply because im swapping everything out that makes it an OZ Rally...

the OZ Rally trim is purely cosmetic and as far as the internals go... it is the same as the ES and LS...

idk if you knew that, just wanted you to know.

but yeah it is a good car and reliable it will last a long time as long as you maintain it.

 

ugh i apologize i didnt see the other thread were everyone told you about the 3 models sorry.

bottom line:
its still a good car

 

i was questioning it from the point of view that it seems to depreciate faster than other cars I have researched

 

Do you plan on buying it then re-selling it? They don't hold value like hondas for
some reason but they seem to last pretty damn long. I know guys with 150k or close to on thiers... They still in great shape.

 

No I wasn't planning on buying and reselling, I was just wondering why there was a pattern or marked depreciation that other cars of its class do not share

 

Yeah to be honest I'm not sure. My car has depreciated about 4 grand in the 3 years that seems to be fast but I also live in CA where cars are more expensive... But it may be due to te economy and everything has depreciated quickly... So I would say it's more because of the economy... Also mitsubishi has not always had a great name, but they make really solid cars. So I guess long story short, I can't answer you why they seem to be solid cars that last a long time...
If you want a good solid car I think you'll be happy with it, especially of your not looking for a super powerful fast car... A 5 speed will have a little pep, butnothing to spectacular.