EVO 8 Markup disputed
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This is a discussion on EVO 8 Markup disputed within the Comparison: WRX vs World forums, part of the Community - Meet other Enthusiasts category; By Autoweek: Reports of at least one California dealer tacking on ,000 to the ,812 sticker price on the hot ...

  1. #1
    Registered User driverj's Avatar
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    EVO 8 Markup disputed

    By Autoweek:

    Reports of at least one California dealer tacking on $20,000 to the $30,812 sticker price on the hot new 2003 Mitsubishi Lancer Evolution are inaccurate. The sales manager at the San Jose dealership confirms a markup on the 271-hp all-wheel-drive rally rocket, but not that high. His add-on: $4,900—which is still a hefty piece of change just for handling the transaction. But we suppose it pales in comparison to the $270,000 another West Coast dealer is demanding for a BMW Z8 Alpina Roadster listed at $137,595 (AW, March 17).

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  3. #2
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    Was the window sticker a photoshop?

    I think not. Somebody over at Miata.net called that dealership to see if it was for real, and was also quoted the 50k price, though the dealership said it was accepting offers of a lower price.

    Sounds like damage control to me.
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    Local Chicago dealer has 2 EVO's both at MSRP. They do have the typical
    upholstry/paint protection "package" at $1995 though.

    Seems the rumors of high markups are MUCH exaggerated. Some people just can't grow up.

    BTW, the EVO is a beautiful looking car in person. It looks better than the
    STi and the Recaro seats are awesome. MUCH better than the new WRX seats.

    T

  5. #4
    Registered User TRex's Avatar
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    There is at least 1 chicagoland dealer who had the window sticker of about $50k, at least as of last week.

    The other dealers I called had between $2,500 - $4,000 markup.
    Dino
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    $50k! That's insane. It's almost like a marketing gimmick just to get people to look.

    What's really interesting is that EVO's are sitting on dealer showrooms. It doesn't appear that they are selling that quick or that well.
    When the 350Z came out, there were very very few if any Z's in showrooms for quite a while. It took a good 2-3 months before cars actually sat in showrooms and lots. Now, they are plentiful. I would have thought the EVO's would have been presold, but they are NOT. Seems the rumors may have scared some people off. I asked for a test drive but was told I may be able to get one IF I put a deposit on it first.
    Whatever. I might just to get a test drive and then get my money back.
    I'll just put it on my card.

    I think the same is going to happen with the STi. There are lots of people who talk big but when the time actually comes, STi's will be sitting on dealer lots as well. These cars won't sell as fast as people can type "I am buying one."

    T

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    Registered User TRex's Avatar
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    I also think that the STi announcement made a lot of 'Evo people' stop and think. Folks who are willing to pay a premium to have the latest, greatest, and fastest car don't take kindly to pre-production announcements of cars that will already knock them off the hill.

    Personally, I think it's pretty exciting to see Evos sitting in the dealers, cuz now my wife wants one! If only we weren't still a bit upside down on our Durango loan.....arrgggg
    Dino
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    Registered User 03WRX's Avatar
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    Don't read into the dealer markups too much. I went into the Mitsubishi dealership here in Dallas and I asked the dealer about the $8k markup they had and he told me that it is very negotiable. I'm sure they would still mark it up but he told me the markup is mainly to scare off the people who aren't serious and who just want to go for a joy ride. They want to attract the serious buyers. Obviously, there are people who will pay for it and if I was dealer I sure as hell woudln't argue it. I think part of that markup is also to generate a little hype like it's a very limited produdction , better-get-your-hands-on-it-now. So if you come out paying maybe $1k over MSRP you'll think you got a great deal. You have to remember a lot of the buyers(general public) out there are not as car-educated as people are on this forum or other car forums
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    Registered User silverscooby's Avatar
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    I just went down to the Mitsu dealership down the street and they have a silver, a white, and a red all for MSRP. No dealer markup or funny "protection packages."
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  10. #9
    Registered User driverj's Avatar
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    Originally posted by AutoXJunkie

    Sounds like damage control to me.
    I think so too. Let's send Autoweek the link to that photo and see what they make out of it. It would be fun if they did follow-up. Or not.

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    Was at the dealership today. A friend is intrested or should I say was intrested. Dealer wants extra $4000 on top of the 30,188 sticker. And thatswithout the tax and other little things like plates,etc . I can only imagine how bad they are gonna hammer people on the financing rate.What it comes down too is dealers are crooks and they should be taken advantage of as much as possible.
    The car on the other hand was quite impressive. I like the brakes and some of the other features, but not worth the $40,000-45,000

  12. #11
    Registered User 03WRX's Avatar
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    Originally posted by F1-racer
    Was at the dealership today. A friend is intrested or should I say was intrested. Dealer wants extra $4000 on top of the 30,188 sticker. And thatswithout the tax and other little things like plates,etc . I can only imagine how bad they are gonna hammer people on the financing rate.What it comes down too is dealers are crooks and they should be taken advantage of as much as possible.
    The car on the other hand was quite impressive. I like the brakes and some of the other features, but not worth the $40,000-45,000
    The financing rate is actually in your control. The better credit you have the better rate (which I'm sure you know). Just go on a site like www.peoplefirst.com and get pre-approved. Took me like 10 minutes to fill it out. They called back in 20-30 minutes and sent me a blank check in the mail. I put that in the dealer's face and they matcehd the interest rate. Don't ever let a dealer do the initial financing approval. Shop around.
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  13. #12
    Registered User XtianLA's Avatar
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    Rumors my ass. I personally walked into the Dealership and asked the salesmen, he tells me $59k. I was like "Why so high?" His idiotic sales response "Well, they're not making too many of them, and we only have 2 here on the floor." Great excuse moron. Gotta give them credit though for trying to cash in on the street racing scene, cuz I can only imagine rich 17 year olds paying $59k. I don't think any smart car enthusiast would spend that much...but I'm most likely wrong.

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    Its a perfectly reasonable thing to do for the dealer in a free market...you can always walk away.

    If the dealership is only getting a couple in the beginning, they are going to want to hold onto them very hard to get people into the showroom...cars like the Evo are halo cars which draw the crowds (this is the reason why the Corvette is a Chevrolet nameplate)

    So if that dealer is going to lose his consumer-attention grabber, he is definitely going to want a significant chunk of change in exchange. As the supply opens up and a steady stream of them are around, prices will drop down MSRP...perhaps even below if sales are disappointing.

    Realize we benefit from the flip side when supply exceeds demand, or when new models come out. Check out the prices SOA is offering on remaining 2003 WRX stock

    I don't know anyone who has walked into a dealership and said "i want to pay MSRP for this car because im glad company XYZ makes it." We try to pay as little as we can, dealers try to make as much as they can.

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  15. #14
    Registered User Kramit's Avatar
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    Hey guys,

    I'm a super newb to clubwrx. But i can tell you guys this. It's no BS that the Mitsu dealers are marking up the Evo hella bad.

    The pic in question (20k markup) is for real. One of the guys on the evolutionm.net forum took it, and several others from that area verified it. So it's no photoshop. Here's a link of all known dealers marking up.

    http://forums.evolutionm.net/showthr...threadid=15600

    I went so far as to call 2 dealers in my area, one said 5k and the other said 5-10k or "highest bidder" kinda thing. Thats when I pretty much said BS and started lookin at the WRX. Plus, they already have an established aftermarket for them (Vishnu, TXS, etc). And I wouldn't feel so bad driving a Rex in the winter either, as they are a regular production car. I think they are only giving the US something like 6000 Evos. So given price+availability, my liking has been turned towards the WRX. I found an 02 close to me with 40k miles and they want mid 16k for it. I say thats a great buy, though I can't afford it yet.

    Don't get me wrong, the Evo is a phat car. Everyone who has one loves it. If I had the $$$ and lived where it didn't snow, bet yer arse I'd get one. But if i did, it would just end up like my 70 and 73 Cutlasses, projects that only get used in nice weather. And there would be the Evo, yet another car to sit in my driveway as I'm stuck driving my Buick through another winter....I don't think so.

    Just my 2¢,
    -Kramit
    '03 EvoVIII (Apex Silver)

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