Noize

iTrader: (24)

I've placed this in X General to start, but will probably move it to the newbie forum later. I just thought it would spark an interesting discussion.

In browsing the forums, I notice there are a few owners out there who would rather have a different year Evo than the one they have currently for many different reasons. It goes both ways as well.

This is a quick KBB value I pulled today based on “Private Seller”. Although not exact, it does give a good snapshot of what insurance companies will cut you a check for if you car is totaled or stolen. I’m assuming low mileage (10k per year from build year to last year-2011) and “good” condition on all. I didn’t add any options- No SSS, no SSL, Navi, or anything else.

1) 2008 GSR w/ 30,000 miles: $24,900
2) 2006 MR w/ 50,000 miles: $23,200
3) 2006 IX w/ 50,000 miles: $21,500
4) 2006 RS w/ 50,000 miles: $19,200
5) 2005 MR w/ 60,000 miles: $20,300
6) 2005 VIII w/ 60,000 miles: $19,000

The reason I even looked into this is that I've paid my car pretty far down, and toyed around with selling it and getting an older Evo so I wouldn't have a car payment at all. But browsing the private seller VIII/IX prices in this forum stopped me dead in my tracks. While I think the KBB price for the 2008 are pretty close, the forum asking prices on the CT9As are super high in comparison. I have noticed that localized prices like Craigslist or Autotrader are much more in line with KBB.

This gets me wondering: Are any of the people on this forum selling their base IXs for $25-$26k really getting that kind of money for them? If so, who is buying them? Are these cars really bringing enough beyond real loan value that buyers don't mind fronting cash that they'd risk losing immediately in a total loss scenario?

I'm not looking for CT9A vs. CZ4A debate here, and such posts will be removed. But I am just wondering if used IXs are getting purchased by collectors, etc.

One thing I can understand is that a clean used Evo that is close to stock is almost impossible to come by, and that might be driving prices somewhat.

All this makes me more certain that the best car is the one you have, as you know the history, and hanging on a little longer to pay it off should be well worth it.

Your thoughts are appreciated.

Kracka

iTrader: (49)

I sold my '06 WW IX GSR in June 2010 for $23k with 53k miles on it, I purchased it in November 2007 for $25k with 10k miles on it. It was in pristine condition for both sales, and in the time I owned it I added very tasteful bolt-on mods while retaining the stock turbo and pump gas.

The new owner blew up the engine and it was down for the better part of 2011.

original FS thread: https://www.evolutionm.net/forums/sa...iles-mint.html

my FS thread: https://www.evolutionm.net/forums/sa...dallas-tx.html

SamsonEvoX

I searched and searched for a reasonably priced IX with lower mileage. Could not find anything anywhere. Searched Autotrader, Yahoo, KBB, Car Soup, this site, the other site and was I ever surprised at the crazy prices that were being asked. So, I decided that if I were going to spend 28k on a nice Evo IX, I might as well get a new X, which I ended up doing.

Given the prices many used cars are getting and the fact that the Evos are holding their value so well, it is not exactly a buyer's market when it comes to buying used. Heck, I have seen 2010 Evo X GSR's going for more than new ones!

Noize

iTrader: (24)

That is really interesting, thanks for the post!

I bought my Electric Blue IX new from South Coast for $28,500. If I believed I could get $23k for it today with like 55k, I would have kept it for sure. I just can't help but believe there are a lot of dreamer FS threads up.

It's funny we all want to mod our cars, but want to buy them with hardly any mods. I look at used Evos, see aftermarket clutch/cams or engine/xfer case/tranny work and I think "No way would I buy that!".

evostang

For the last several months I've been half-heartedly looking for an Evo8 somewhere around $12k, and all I find are super high mileage cars or junkers for that advertised price. There are some nicer 2003/2004 I've seen advertised for $15k-$18k, but most are advertised $20k-$25k. I won't pay $20k for a 10 year old car which was originally $30k and has been beaten on.

I've started looking at Evo10s again only due to price, but I'd rather find an older one if it were cheaper.

I sold my Evo10 GSR in 2008 for $27k and prices haven't dropped much since then.

CosmosMpower

iTrader: (1)

I've been EVO X shopping several times, last summer in May and currently for the last 2-3 weeks. Last summer you couldn't give an Evo X away, I had a couple deals for low to mid 20's on 08's with very low miles.

Lately it's been harder to find a deal. 08's with reasonable miles are going for around 23-25K and 10/11 GSR's with SS are all asking around 30K with some negotiating down to 27-28K. Seems like the market is pretty solid for Evo resale right now and looking at Manheim auctions even the 10/11's with under 10K miles are fetching 28ish and that's auction/wholesale pricing.

I'd say if you're trying to get out of your Evo X, now is not a bad time to try and sell for a good profit. If you're trying to buy a nice 10/11 Evo I'd suggest just buying a new one for 31-33 at some of the dealers around the country. I haven't done any research on 8's or 9's.

Kracka

iTrader: (49)

HA! I agree with you fully...unless it was the exact setup I was looking for and knew and trusted the owner and 100% of everything about it.

Noize

iTrader: (24)

There's no way I'd get out of it unless I got an older Evo that's lightly modded or stock for a good deal. AKA, I'm never selling my car.

Thegame

iTrader: (26)

Noize, usually insurance companies reimburse you the "Retail Value" of the vehicle. This is usually a significant increase from "Private Party Value."

Noize

iTrader: (24)

Good catch, and you'd think that would be true with most insurance companies. We were in an accident that totaled a car through State Farm a few years back, and they fired up Autotrader, which was lame. We had to fight pretty hard to get what we wanted out of it, and it was still under retail.

While KBB says a 50k IX at full retail is worth $25k, I still can't fathom paying that from an individual when you consider what these cars cost new.

Kracka

iTrader: (49)

Insurance companies reimburse for replacement value, which is why they used AutoTrader.

4RETECH

iTrader: (86)

I've always looked at the prices seeing that I want to get into an X. I figure the 08's are coming off lease too.

Anyway, I have noticed that the IX's are priced way high here on EvoM.
I know of only two people that have completely stock IX's. I told them what the prices were on here and they both laughed. I mean sure, if it was stock and taken cared of religiously, maybe. But I have the galves book with car values. IX's are not in there for $25K,LOL

But, you never know. Good luck to all the sellers out there.

BTW:I did find a 08 for $24 at a mitsu dealer. Working on the deal now. My wife gave me permission,lol

Kracka

iTrader: (49)

Nice, you won't regret it!

Noize

iTrader: (24)

+10,000 rep points for you! Because I don't need 'em, and you have your head screwed on straight.

Alpha X

iTrader: (9)

Yea I don't think I'll ever sell my EVO. Especially if Mitsubishi stops making EVO's