major drop in price?
Dec 15, 2009, 09:25 PM
#32
Yeah cause there will be no more EVO's made in that time period.....
The price will only get lower with time. Mitsu isn't selling cars any faster than they were a year ago, it's only a matter of time before they start unleashing the incentives to sell evo's again and the prices WILL drop again.
Checkout the classifieds, there are two evo x's in the $25k range and one just sold for $24,500 and it was pretty well equipped. People haven't been able to buy them for $28k new for a while now but that's not stopping used values from plummeting either.
The price will only get lower with time. Mitsu isn't selling cars any faster than they were a year ago, it's only a matter of time before they start unleashing the incentives to sell evo's again and the prices WILL drop again.
Checkout the classifieds, there are two evo x's in the $25k range and one just sold for $24,500 and it was pretty well equipped. People haven't been able to buy them for $28k new for a while now but that's not stopping used values from plummeting either.
Dec 16, 2009, 12:08 AM
#34
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as soon as you drive off the lot, cars drop 1/4! Add a few years and eventually you might as well use it as a beater than to trade it!! Cars are the worst investment... the only return you'll get from it is pure joy, not $$$.
Dec 16, 2009, 01:20 AM
#35
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Take the 25K trade in - NOW - before they change their minds. I've tracked the private X for sale ads, and SSS and sometimes NAV with low miles sell for 25K. Right now, you can get 2010's in Cali for around 29K BASE model (which is what yours is) with 0% financing for 36 months. That's a brand new EvoX, so don't have to worry about mods or being abused, with the new Ralliart taillights installed, larger side skirts to protect side paint from rocks, and a new color display in the dash, which is much better than the red dash lights on the 2008 - and 2 yrs newer. Take the 25K b/c in the next few months, when the 2010's aren't selling b/c of the economy, the deals and financing will only get better, and your trade-in will drop accordingly.
Dec 16, 2009, 05:39 AM
#36
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they didn't bring nearly as many 2010s to the states as the 2008s, that means dealers wont have to do fire sales to get rid of the 10s, they will probably stick with the current incentives for a while, i haven't heard of a 2011 model, so the 10s will probably be another 2 year model like the 08s were, 08s prob won't take another big hit in value until mid 2011
Dec 16, 2009, 08:15 AM
#37
Evos (and any car, unless you're collecting classic exotics) will always be depreciating. I'm not sure where this idea that the prices will stay flat seems to come from. Someone in this thread even suggested that the OP drive his car for another year and 15K miles and the trade-in value will not decrease. These are all incredibly ridiculous ideas.
These are relatively expensive cars, and they are also very expensive to maintain once the warranty expires. On top of that, these cars tend to be driven very hard, modified (poorly modified more often than not) and then returned to stock-looking conditions for sale.
When you buy the car new, the premium you pay is for the warranty and the assurance that your car has not been modified or abused. This is often worth 20% or more of the car's price. As soon as you try to trade it in or sell it yourself, you no longer have these added bonuses and the car is far less valuable.
If you can't afford to write off half the value of your car in the 3 years after purchasing it, don't buy it.
These are relatively expensive cars, and they are also very expensive to maintain once the warranty expires. On top of that, these cars tend to be driven very hard, modified (poorly modified more often than not) and then returned to stock-looking conditions for sale.
When you buy the car new, the premium you pay is for the warranty and the assurance that your car has not been modified or abused. This is often worth 20% or more of the car's price. As soon as you try to trade it in or sell it yourself, you no longer have these added bonuses and the car is far less valuable.
If you can't afford to write off half the value of your car in the 3 years after purchasing it, don't buy it.
Dec 16, 2009, 08:29 AM
#38
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http://www.edmunds.com/new/2010/mits...=01970&vdp=off
^ what im getting at is, cars always take the biggest hit in the first year, then u can see after that the depreciation is only a couple grand per year, if u keep the car for another year or two, it will be much less costly then jumping into another new car that will take another big hit in the first year.
its best to always buy a lightly used car thats about a year or two old that has already taken the biggest depreciation hit.
^ what im getting at is, cars always take the biggest hit in the first year, then u can see after that the depreciation is only a couple grand per year, if u keep the car for another year or two, it will be much less costly then jumping into another new car that will take another big hit in the first year.
its best to always buy a lightly used car thats about a year or two old that has already taken the biggest depreciation hit.
Last edited by mmartahus; Dec 16, 2009 at 08:32 AM.
Dec 17, 2009, 01:00 PM
#39
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when i was trying to trade in my 09 ralliart, the dealer offered me 14k, it only had 6800 miles!! I told the dealer to f*@k themselfs. I paid 27k otd in may. ( Community Honda in Orland Park, IL) Never buying a car from that place. Hope they go out of business.
Dec 17, 2009, 01:23 PM
#40
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I've wondered who would buy a Ralliart. They cost as much as Evo 9 with very reasonable mileage on the clock...I'd have to assume it was someone that insists on a new car warranty.
Compared to what? Another $30k+ car? I bought the Evo because the repairs on my `01 BMW were killing me.
I agree that it costs a lot to keep a performance vehicle in top shape but I don't think the Evo is special in that regard.
Originally Posted by Construct
These are relatively expensive cars, and they are also very expensive to maintain once the warranty expires.
I agree that it costs a lot to keep a performance vehicle in top shape but I don't think the Evo is special in that regard.
Last edited by mlomker; Dec 17, 2009 at 01:25 PM.
Dec 17, 2009, 01:54 PM
#41
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the evo is a unique car that has low production volumes and does not track the average depreciation curves of other cars, it is very much ruled by supply and demand and geographic regions
Dec 18, 2009, 08:19 AM
#42
Oil changes and routine maintenance might be cheaper than your BMW, but when you get high mileage and run out of warranty and have some part fail or break, things will get expensive very quickly. Buyers of used Evos know this, too, which is why the price falls off so quickly.
Dec 18, 2009, 08:33 AM
#43
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I drive cars like I'm the one who's gonna fix them, don't power shift and don't like to burn off perfectly good tires, etc, etc, but when I'm in the evox, it like Dr Jeckell and Mr Hyde...I turn into a total a%%hole on the road. I had to buy a beater so I could park it and chill out.
back on topic- there aren't a lot of evoX's for sale in SD Co, but a couple pop up from time to time. I'd like to think I could get $26k on a private party sale at my current mileage..but I don't know. Mine does have a couple of blemishes from going off course.
Dec 18, 2009, 01:58 PM
#44
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so i'm gettin married in a couple months and can't afford my payments/insurance on my evo x anymore and went to trade it in. car max said my car was worth 23k... lol... i've had it 10 months, bought it for 34k out the door... so its retail has dropped 11k in less then a year... i go to another dealership and they offer me 25k... wow really?
Dec 18, 2009, 02:11 PM
#45
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This is where you have to shop for the car you want to buy the best way to keep from getting it in the shorts is at the time of purchace. I looked all over the northwest before i bought my car shoped every evo dealer listed by mitsubishi and made them earn my buisness. I paid 29,250 in april for a fully loaded gsr sss and i know others bought for a little less than mine shortly after.
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