PKEVO8

iTrader: (8)

This is a very loaded question lol, and it really depends on the person, his/her financial position, and the purpose of the car. I'm a student with a lot of debt, and I do not want a new car payment. I've personally owned my Evo for over 6 years now, and it is fully paid off. I bought this car to be my daily driver. It's got a few mods, but nothing crazy and it drives like a tank. I bought it simply to be my daily driver/occasional autox and to be reliable. So for the person like me, keeping one evo long term, maybe even forever, gets you the most value.

However, if I were to ever get rid of my Evo, I would prefer to replace it with a car of equal or greater performance. Unfortunately, that puts me in an entirely different class of automobiles that are out of that price range. So, if I wanted to trade in the Evo for another car that was just as fast, I would have to spend way more than that resale value for an '05 VIII. I'm stuck in a situation basically where I can't get rid of the evo without either losing a lot of money or a lot of performance, unless I did something silly like get an STI

YogSaahoth

iTrader: (9)

Seems like people are prematurely giving Evos a "collector" type status. The Evo was so synonomous with 4G63 for so many years that I'm sure it began when the X took off. Now that the entire face of the automotive industry has made a shift (emissions and environment stuff, MPG, hybrids, etc.), Evo-like cars aren't really being made anymore...which is sort of the hallmark of a collector car...lack of availablility.

Can any of you honestly say you believe mitsu (or any other manufacturer for that matter) will produce a car that will achieve the status of the Evo or any other "flagship" car in the future...skyline/gtr, rx-7 (which btw mazda's rotary division is on the way out). This is obviously difficult to predict, since back in 2003 we all most likely had no idea that we would be discussing the rising prices of used Evos today. But take a look at the general direction of the auto industry...I would guess there won't be too many new options for true speed freaks in the future.

Take porsche 911s for example...much more expensive, yes, more of a status symbol, yes, but it is a purpose-built car, like ours. The comparrison between porsche and mitsubishi isn't really important in this case. So about the 911....the mid-90s 911 turbo (993) currently retail for more than a 996 turbo (1999-recent....the 997 is the newest model 911). The 993 turbo sells for anywhere between $60,000 and over $100,000 depending on the usual factors. The upper end of that being close to a new 911 turbo. A 996 turbo can be found for about $40-50k in good shape.

Why? The 993 turbo isn't what I would call rare...production years from 1995-1997/98. Similar to the VIII...hell, the IX was only produced for 1 year. There are more rare porsches out there...the 911 before the 993, the 964 or 965 are very rare in #s, and even more expensive. Why is the 993 turbo so expensive then? To many porsche enthusiasts, the 993 was the last true porsche made. After 1998, the 911 motor was switched from air-cooled to water-cooled. The 996 also did not feature the classic porsche rear fender flare around the wheel well. For these reasons (and a few more) the 996 was not well received by porsche lovers, thus driving an increased demand for the older porsche...the last true porsche 911 turbo

Does this sound familar to anyone? Has anyone ever heard or seen the statement "the Evo IX was the last true Evo," or "Its not an Evo without the 4G63." Noize said in the beginning that this isnt a 4g63/ct9a vs 4b11/cz4a debate, but none of us can deny that the X's departure from a few characteristics that "make an Evo an Evo" is driving an increased demand for older Evos. Combine that with the direction of the modern auto industry...I do think that Evo owners are giving their car a collector status because they see these events unfolding. They are, however, premature. FD RX-7s, for example, are much more rare and unique than evos and their price is just now beginning to increase...

Too long...sorry

Noize

iTrader: (24)

Man, great post!!

bmxking45

I got my 2010 WW MR Touring w/ 4Kmiles for $34K ($30k after trade). Now has 10K miles and I am sure I could prolly get around the same if I sold it!

lcwjr

iTrader: (4)

I agree with PKEVO8. I bought my '04 Evo new. If I'm not driving it, its in the garage. I don't drive it in the rain or snow. It has 18K miles on it. I have about 20K in mods. No matter how much I could sell it for, what could I buy that's better? I've been offered more than I paid for it, but then what? Buy a new Evo X, add $20K, and be right back to where I was? I don't care for the Evo X as much, but that's a matter of personal taste. My point is that I love my old Evo VIII. A lot of people may call me stupid, but I wouldn't sell it for $30K...or $40K, etc. I don't care what the market value might be. I think about how much it would cost me for a car I like as much or better. Come to think of it, that's why I bought an Evo in the first place.

FJF

iTrader: (18)

Here's an example of someone who paid a relatively high price for a very clean IX:

http://forums.vwvortex.com/showthrea...1#post75268592

highlyevolved

I've seen excellent condition IXs on autotrader and locally which hover around 20-22k. Who knows the history but if anything the prices on evom are generally higher. You also have to remember Evom does provide some level of history of a car that you can't really get anywhere else, as you can see in the sellers post history what mods have been done and what problems they had if any - that can give additional piece of mind over the dealer special or cheap craigslist posting.

But to me, even 20-22k for a 6 year old Evo with unknown history is a bit ridiculous. Of course being car guys we can't help look around for what ifs and check out clean rides, but if I were you I'd just pay off the current ride and have piece of mind that you have an unmolested original owner Evo. That's at least my plan

Optiblue

iTrader: (5)

I paid $60k for my evo X MR Premium and offered someone else on the forum to trade his US model Evo IX SE straight up. My car was worth $33k Black book at the time but they refused ended up trading mine in and added money for manual

Noize

iTrader: (24)

That car is spectacular.

blk-majik

iTrader: (6)

Evos are holding their value. Good for us who own them, but bad for those who want one. Since the OP owns an evo and is looking to sell it to get an older one and not have a car payment, would you consider replacing with a non-evo that's comprable and hasn't held is value so well?

If you shop around a little, you can snag a good 2006 STi with 50k miles sells for about $17k. The KBB value is much higher - around $22k, but the market for STi's is different.

Another option that isn't quite a parallel with the Evo is an E46 M3. They've been hit hard by depriciation and are going for about the same price as an Evo/STi from the same period.

Not sure if that would interest you, but it's another option to consider.

highlyevolved

That would be like trading a car payment for a maintenance payment. The market for 6 year old German performance cars is incredibly weak for a reason. You can get a V12 AMG for about the same price too but I wouldn't recommend it.

blk-majik

iTrader: (6)

An e30 or e36 m3 would be where it's at. They live forever But I don't think trading to a 10-20 yr old car draws much of a parallel comparison. Anyway, it was just one of many examples if you start thinking outside the evo realm.

deeman101

iTrader: (34)

The older evos are also changing hands to different types of owners. The trend IMO is sellers that don't drive cars older than 5 years or bought it as a "fad". And the buyers are people that actively sought this older car even though they could've easily bought a new one. The buyer is most likely less inclined to resell it again because its old, or get tempted by the newer models, or get bored with it, etc. They also are not afraid to spend $$ on the car and will most likely hold on to it for a very long time and it will take a lot of cash to make them part with it. Or them going broke, which these cars can also do. Thats part of what I think is driving up the prices.

There is literally no price I can think of that will make me part with my evo. Ever. Salvage title and all . I will easily be driving this car for at least another 7 years or so. Most people would cringe at the amount of money I spent "restoring" and modding it. But to me its the jack of all trades and we probably will never see a car this well balanced and capable in so many aspects again. Especially one that does it all and STILL provides a great driving experience. All this while providing reasonable reliability considering the abuse they take.

I just hope the new owners explore fully the performance and what makes these cars legendary instead of just babying and decorating them with JDM tyte stuff.

Noriega7

Not sure if this is my area or not but, I picked up my "clean" IX gsr a few months ago for 18k. Only had exhaust and The day I purchased it rolled over 54k miles. I've seen VIII's and IX's on craigslist in my area with more miles for upward of 23-24k. Is the market really that hot for them right now that people are able to get that kind of price tag for them? Gotta say it was worth every penny I dropped on it though.

Noize

iTrader: (24)

I appreciate your post. I've been on here lots of years though, through four Evos, two Bimmers, and a WRX. There's no way I'd own another Subaru- Their engines are a bag of compromises.

An E46 M3 to me is way too dated, and I liked the 335i lots better, but wouldn't go back that way either. I think the E90 M3 is an incredible car, but I'd rather be down in spending than up. Plus my wife would kill me if I even mentioned it.

There isn't a need to sell, I would just like the payment to go away sooner. If I could do anything, I'd rock an Evo VI. I drove one and it was still the best Evo I've ever been behind the wheel of by far.

The main point of the thread was to discuss the market price of the VIII/IX, though, I'm not interested in jumping at current prices.