abalto

Any idea of the auction results lately? Just curious..TY!

M3lachsilber

Still going strong in the low 20's wholesale.

Most EVO's fall in the $25,000-26,000 range..depending on miles, condition, etc.

m3jstock

iTrader: (1)

I just traded in my Evo8 with 7800 miles and in bone stock but
perfect condition for $24K.

Before I did this, I called pretty much all the Mitsubishi dealers in the SF Bay area
and I was not offered higher value than this.

This kind of makes sense since I know they sold remaining 03-04 Evos
at around 26-27K.

evotoo

iTrader: (2)

good post. i was just at the local mitsubishi dealer and there were no evos to be found.

Bill Simonsen

A free market with buyers and sellers setting their own mutually agreeable prices doesn't seem to me to be something to complain about!

-Bill

BMWE30

iTrader: (25)

Just bought my EVO 8 for 24000 with 15k on it totally stock from a 39yr old man in NH. I thought i got a great deal since it was absolutly mint with the CF wing and Sunroof and also Silver which holds its value well.

JB

M3lachsilber

AWESOME price..

Congratulations!!!

BMWE30

iTrader: (25)

M3lachsilber what do you think this car will be worth private sale a year from now with 25-26k on the clock totally stock with just all the Mitsu add on like pedals, scuff plates, etc.

Thanks
JB

M3lachsilber

High teens..
Like $17-18K

I'm not at work otherwise I would flip open an ALG guide to get a better idea..
But I can almost tell you it would be in the high teens..

BMWE30

iTrader: (25)

WOW so your telling me this car after 2 year looses 14,000 dollars thats amazing, I cant believe iam set up to lose 7000 dollars after 1 yr of ownership and only putting on 10k. Maybe i should sell it sooner while it will be in the 20's.

Thanks
JB

M3lachsilber

You gotta be realistic..

Reality is, in some areas I am hearing of cars doing low 20's...

Some EVO's have wholesaled for 21K!!

So after a year of driving? Yes, it is possible you will have a high teens car.

Did you buy it for an investment? If so, not many cars are.

Anyways, it sounds like you wanted to know what it would be worth RETAIL not wholesale, which are the figures I shared with you.

So yes, your car could be worth 20-22 next year..But I am not a fortune teller!!!

M3lachsilber

Okay, just got to work and I am looking at September/October ALG book. This one is industry standard for the most part in regards to calculating leases using the printed residual values. If you wanted to lease that Evo you just bought, the MAX selling price to you ,could have been $24,325.

24 months lease residual is: $11975.00
36 months lease residual is: $10125.00

Those "residual" numbers tell you what the banking and lending institutions feel the lease end value will be. These figures are solidified throught the printing in the ALG book. I wil tell you, they are skewed in the banks favor (for obvious reasons..so they don't overestimate the values)

Another thing I have found is sometimes if the predicted value is uncertain, the residuals will be abnormally low to insure that the bank doesn't get screwed. This could be true on the Evo cuz we all KNOW a low mile Evo in two years from now will be worth more then freakin $11,975.00!!

My guess is that IF they had a 12 month term it would be like a $12,875 residual..

So it is a fair assumption given the difference in retail to wholesale using the ALG book as a guide that your car will fall in the hight teens...

EvoHenry04

lets all hope and pray

Neptune

I work for a Mitsu dealer and we are always activley looking for Evos At any auction and they "Bring The Cheese" on auction lane. They are one of the best cars to owe in terms of little depreciation compared to everything else on the market. But have no fears on Mitsu Stability as a company the dark days are behind. the overall outlook on Mitsu resudual and wholesale values are up in the past few months..

Michael A

iTrader: (1)

I just traded my Evo (19k miles NO Sunroof) in to my local Acura dealer. I was given $20,500 + their was almost a $2k tax savings on the new car. I purchased the Evo last December with 4k miles for $23,500 and it included a 6yr/100k mile warranty which I returned and got back $1,200. So essentially I paid $22,300 for the car and got back $20,500 on trade in after putting 15k miles on the car and the tires pretty much needed to be replaced. I had been offered $21,000 to $21,300 at 2 other Acura dealers but they simply did not have the specific replacement vehicle I wanted so I elected to take a few dollars less for my Evo while getting the TL I wanted.

I wish I had a dealers license so I did'nt have to pay taxes every time I do something like this.