EquinsuOcha

Seriously. Unless you put over 20% down, there's no way you should be thinking of trading out of the vehicle. ANY vehicle for that matter (unless it's a hybrid Honda / Toyota - those things hold their values very well because it's just what people are paying) will depreciate the worst in its first year. If you think that's bad, go look at the resale value on a Ford F150 after the first year.


As a rule, you should not be trading out of a vehicle until you've reached the halfway point of your loan, (if you have a 6 year loan, 3 years in). I don't know what your expectations are, but maybe your salesman should have schooled you in what you can expect from your car over the next few years. I do with my customers.

ModernRacer

iTrader: (4)

Yeah i hear ya Eric, i work for Subi and i can't even get a proper deal on a '06 just beacuse people are willing to pay for them, oh and what dealer did you go to, we have a 06' press car in stock for about 4,000 less than a new one, i could hook you up.Let me know

Kevin

r3z0nate

iTrader: (3)

Kinda wished I wouldn't have gotten another mitsu and gotten something used. New cars aren't really worth buying in the long run... 28000 isnt exactly alot in cdn either. I know exactly what you mean about the fwd... I really want 4wd for my next vehicle.

ModernRacer

iTrader: (4)

ok Eric here is the value based on my vehicle, but can check it out for yourself online as well.

This only an example:

Year Make Model Series Body Style
2004 Mitsubishi Lancer Ralliart 4D Sedan

Based on the kilometers entered
and the options selected, your vehicle's classification
is appraised as: Average.



Depending on your vehicle's condition, the value may be appraised within the High and Low range. * less Reconditioning Costs

Low: $15,432.00 High: $17,092.00

justinhazard

mojambo

iTrader: (3)

See, its not the price of the new car I'm worried about. Its the $6000 loss I'm taking on the RA. I think I'm just going to have to try and sell it privately or stick with it untill its paid off. I'm more or less looking for the security of all wheel drive and side air bags. Thanks for all the posts, some great points have been made. When I bought it, I was not planning on wanting to get rid of it so early. But, the safety thing is a real concern to me and the RA just is not a safe performer in crashes. AWD just gives me peace of mind too.....I'm just going to suck it up now. Thanks guys and gals

Ryan_VRX06

$300AUD every Monday

NonEvo

iTrader: (1)

How did you figure your car is only worth 10,000 canadian? I saw the word auction used in your first post, which usually will not get you full value. In the US we have autotrader which is a magazine for people to list there cars for sale. Im sure there is something like that in canada. You can check in there and see what other RA's are going for. If it is really only worth 10K then something is wrong. a car that is only 2 years old should be worth more than 1/3 of the original price. I believe RA's go for 18-20K in the US new and most 04 RA's with low miles go for 13-15K which is well over half the original price.

o2thag

iTrader: (2)

There is no freakin way you should give your 04 RA to an auction for 10000K. Put it up for sale and you should be able to get somewhere around 18K CND. Here's what they are going for in Ontario http://www.trader.ca/search/Results....ategory=&CAT=1
My buddy in Alberta was thinking of trading his 05 RA with over 20K km and the dealer (non-mitsu) was gonna give him 19K CND for it, so 10,000 for an 04 is retarted low.

bbradj

Kinda off topic but there is a new dealership called Driver Select that bought out the mitsu dealership where I bought my RA. They are still selling some new mitsu's and I went to look at the 2006 lancer and see the differences and they had about 4-5 ES's that have 2-3 markups like service fee($500) and market adjustments fee($2300) and they where selling all the ES's for almost $20k!! That was more than I paid for my RA. If anyone buys from this crappy dealership they are gonna get shafted on depreciation. I think that is f***ed up!! I have never seen such a messed up dealership!

Just a word of advice...if u see a driver select dealership dont even bother looking!!

BLKRalliArt04

iTrader: (18)

Couldnt be more correct.

BLKRalliArt04

iTrader: (18)

Problem with that is, is nobody will wanna pay what he owes on that car. Im going through the same thing. I thought I owed a whole lot less, but i still owe $14300 US dollars. And even with all the mods I have on my car, nobody will want to pay more than ten grand. Unless I found some schmuck off ebay.

GPTourer

If you've got an open differential in a 2WD car (most do) then its its technically 1WD.

NonEvo

iTrader: (1)

Do you have alot of miles on your car or something? The trade in value on my 04 is almost $13,000 US, but i only hav 10k miles on it. You should be able to sell your ralliart for atleast 13 or even more depending on your miles.

AznX TL

iTrader: (5)

thats crap, dealers will buy the cars off you for like 10k and resell them for 14 or 15k even the oz-rally's sell really expensive compared to the trade in value