mojambo

iTrader: (3)

Hey,

Today was a sad day in few ways for me. We has a snow fall last night and I went for a boot on the back roads. I realized how crappy one wheel drive is and I am in need of more traction. I've been reading on the new WRX and decided I was going to buy one if I don't lose out on the deal. I headed to the subary dealer and took a look at the WRX. Sweet car..blah..blah. I have 29 payments left at $579. I took the 4 year on interest plan. I still owe 16000 and change. I was hoping to come close to covering as least what I owe, but Iwas way off. The RA goes for about $10000 cdn at the auction. The will keep looking as they think they can get a few thousand more. So in 1.5 years of owing this car, its only worth one third of its value. I know mitsu makes great cars, but whats the point of buying a car if it will not yield any cash value in about 4-5 years. I am so disappointed that my sweet RA is worth the same as a 10 year old eagle talon. WTF! So, I know that this is not the time of year to privately sell a car, so I'll try in the spring time and see if I get some interest. Seeing this lack of value, I will NEVER buy a mitsu again, even though I love their cars. I'm a sad camper.


Eric

superflyevo

iTrader: (40)

i would put it up for sale now
the faster u put it up for sale
the faster it will sell
my 2c

GPTourer

Wait, you paid $30000 for your RA? And even if you did, you think trade in value should be in direct relation to what you paid for it? Did you buy it at invoice?

What I am getting at, if you want to figure your cars depreciation, don't compare trade in to purchase price plus tax. Either compare retail to retail, or don't bother. Most small cars don't hold value well anyway, except for Civics.

Turbo Meg

iTrader: (5)

Wow $579 a month for a RA! I pay $375 a month for my 05 RS 48 month note. I take it you didn't put money down on the RA.

Good luck

Eclipse2Lancer

iTrader: (1)

I got 52% of purchase value ($13k) at trade in for my 2002 Eclipse GT last October (2004) for the RA. This was at a Mitsu dealer. I had been seeing them sell for $13-14k depending on miles at the time (Private sales).
I am guessing that a Mitsu dealer might give you a better deal than a non-Mitsu dealer (customer loyalty).

Also, were you going to trade with all your mods intact? You would get more value out of your car if you returned it to stock and tried to trade it in.....then sold the parts separately. Many dealerships don't value mods on cars like we do.

EDIT: Kelly Blue Book Value lists trade in value for an EXCELLENT condition 2004 MT Lancer Ralliart with 20,000 miles at $11,400 USD. GOOD condition is $10,655. Not sure what that is CDN.

mojambo

iTrader: (3)

my RA was $28000 canadian dollars, quite a good deal for where the car sits in its respective market. I guess you are right about selling now. never too early. I'm not trying to compare what I paid for it, but what its worth compared to other cars, same age same market. Seems that the RA is getting the SHAFT along with me.

otter

iTrader: (14)

He's also Canadian. Things are more expensive up there.

BLKRalliArt04

iTrader: (18)

He bought it for 30000 canadian. And yes our cars lose value like no other. Theyre right up ther next to kias and isuzus.

CRVdrftR05

The cons of Mitsu were going to catch up to you sooner or later. ;p

Eclipse2Lancer

iTrader: (1)

If you are gonna part it out.....how much for the Tein Basics?

Good luck if you decide to sell!

GPTourer

Clean Black Book for a '04 RA is 12850. Since the car lists for about 17-19, I think that is pretty good. But since some of you guys insist on slamming Mitsu every chance you get without really knowing what you are talking about, let's look at a few other cars.

All values are clean black book like above:
'04 Nissan Spec V - 12550
'04 Honda Civic Si - 13800
'04 Mazda3 Sedan I - 13900
'04 Toyota Corrolla S - 13275
'04 Ford Focus SVT - 12550
'04 Hyundai Tiburon 4cyl (may not be the same class, but every other Hyundai was way below 10 grand) - 11500
'04 Kia Anything - not even close.

Granted these are just guidelines, and I didn't bother with options or mileage. But black book is what most American dealers use for Trade ins. I'm not sure what market forces exist in Canada, but I'm sure when they looked at your modded car they deducted for it, and if I had a Canadien book, I bet it would look about the same. The Lancer has pretty good resale value, I never claimed it was the best, but it most certainly isn't Hyundai or Kia status.

Handmemyarms

iTrader: (2)

i think of the lesson here is not to nessesarily never buy a mitsu again, i think you should come to reason with the fact that buying a brand spanking new car isnt exactly worth it

otter

iTrader: (14)

Bingo. Best bang for your buck is to buy a used car in pristine condition. New car = horrid investment.

bahamut

Trading your car away only after 1.5 yrs isn't a wise decision, you need to keep it at least 3.5 to 4 yrs to even make a profit.

amprowler

iTrader: (1)

all cars lose value once u drive off the lot especially mitsus. just do some research next time u buy a car. domestics especially lose value.