Is our lancer really not worth that much?

Discussion in '8G Lancer - General Information' started by kokobeans, Jan 3, 2009.

  1. kokobeans

    kokobeans Active Member

    I was car browsing about 2 weeks ago, and just to see where a possible purchase could go, I sat down to maybe buy a Mazdaspeed 3. My strategy was to get as much money for my 08 lancer as possible.

    KBB says my 08 ES Lancer with 16xxx miles is worth about 11-12k expected if I were to trade in.

    The mazdaspeed3 is about 23k msrp so I'm willing to purchase it for about 20-21k. Not too crazy to ask for this price since it was an 08, and the car economy is in the crap hole.

    So were looking at about a 8-9k difference right? I know there's tax title and license stuff, but I'll get to that.

    So I go in with my offer of my 08 Lancer and 8k in cash. The sales rep tells me I'm out of my mind, and that my lancer is only worth a measly 7 thousand at the most. Nobody wants a lancer according to him, and Mitsubishi is going down in flames.

    7 thousand.... seriously?

    Which means, the lowest he'll go (which he told me) is my lancer and 14.5k for the Mazda.

    So is there something I'm missing here. I paid 17k for my ES Lancer, how does it drop 10k in one year.
     
  2. lancer2quick

    lancer2quick Well-Known Member

    he's just being a dick....trying to make himself more money by getting you to take less for your ride. Everyone and their mother does research by going to KBB and seeing what their 2008 Kia with 105k miles on it is worth...then being hell bent on getting that number. One thing you have to do when buying a new car...negotiate. don't just jump in and tell them what you want. for instance, if your trade was worth 10k...and the purchase car was 21k, start off with adjusting both numbers. say somthing like "if you can get me 11,500 for my trade and take the car to 18k, i'll do it." when you do this, the dealership will do whatever the can to get your 11,500 but may only drop the price of the car to 19,800. you still win either way. just play mind games with them. i could go on and on about this...but i don't want to take up the whole thread...lol. PM me if you need more advice.
     
  3. NJ08LancerGTS

    NJ08LancerGTS Well-Known Member

    o fuck that stealer ship, right their with that guy talking like that i would have been like fuck you, you don't knoe what ur talking about, lancer's are seriously seling like hot cakes. In NJ for the GTS model they charge 1000+ fee cause the sells so much.
     
  4. AeJarrotto

    AeJarrotto Well-Known Member

    yeah, mitsu have not really held a ton of value but that figure seems pretty low, i used the NADA values yesterday for my gts with navi and 27,xxx miles and it was still worth 16,250 for trade in, thats with the manual trans to.

    according to this, a manual ES with no options (like sun n sound) with 16,000 miles is still worth 13,500 for trade in. that dealer was total BS.
     
  5. BlueBallLancer

    BlueBallLancer Well-Known Member

    dealers don't use KBB prices, they all use galves

    https://www.galves.com/galves/gal_sub_p ... start=true

    for 5 bones you can see how much bs the dealership is telling you if in fact they aren't using the exact numbers from galves.

    my wrangler was 13,500 on kbb and 10,200 on galves

    Mitsu and other econ cars like honda don't have good resale value because there isn't a uniqueness about them that sets them apart from other cars. econ cars are meant to be bought and ran till they die.
     
  6. 09lancermatt153

    09lancermatt153 Well-Known Member

    AGREE and the dealer also needs to make some money off the car when they try to sell it again. thats y they give you crap for your car when you trade it in. its always best to sell it yourself then trade it in
     
  7. BlueDevilLancer

    BlueDevilLancer Well-Known Member

    The dealerships will do just about anything to sell you a car. I was inquiring about a RA at my dealership and they said they had the only one in CT. That was total bullshit. And them saying your car is only worth 7k you're better off selling it by yourself.
     
  8. kokobeans

    kokobeans Active Member

    Thanks guys,

    He called back a week later asking if I'd realized my lancer is only worth 7k, and had I decided to take up his "amazing" offer.

    Told him to go stuff himself instead.