Hi all and thanks for reading and posting. I owned a Gvr4 about 7-8 years ago and loved every minute of it. Unfortunately unforeseen medical issues caused me to have to sell it. Well, that has all past and I’m looking to go down the rabbit hole again. I have owned 3 DSM, 1 3000gt, and the galant. I’m not a newbie to the Mitsubishi scene, each car I owned went through full restorations. I always keep my cars near factory condition or made tasteful mods...
Anyway I digress, I’m looking to buy a car local to me that I found for sale via a private party. The gentleman is the third owner of the car that lived most it’s life in Chicago. Sorry up front but no pictures, I’ll describe as best as possible.
The specs of the car.
Was originally white, repainted silver. Paint work is good quality done by a shop.
Has JDM bumpers, and hood.
Interior is mostly stock minus gauges and a new stereo. Trim and interior is a 6/10. Smells like mouse pee really bad, lots of loose panels, dash on passenger side has about a 10” section that has peeled up and dirty as all getup.
RUST.... there is some cancer on this car guys, to be expected from a midwestern car. Rear rockers under the body kit directly below the sill plates have cancer rust. It doesn’t show too much from outside but you can put your finger threw larger holes on both sides, rust falls off. Front frame rail has about a 1” hole in it, right where it welds to the front “upper” frame section. Front driver floor pan has a 3” hole.
Body repair. The owner told me the car was hit at one point in time in its life, passenger side door. The door was replaced and the panel which holds the door latch was “repaired badly” in his words and I agree. Metal was not used in the repair, I suspect some bondo work from the texture of the panel. Door doesn’t open as smoothly as it should. It’s not horrible but not professional either.
Fully Built motor/head. Owner can’t give me specifics but it was done at a shop near to me that I know of. He did say it has hks cams 262’s , arp hardware, pistons, rods etc . Turbo is an unknown upgrade. But definitely larger than any stock turbo from any generation Mitsu. Full intercooler set up with GM MAF. Ecm link installed. New injectors, fuel regulator and all supporting mods.
Transmission is supposed to be a jacks transmission, stage 1 or 2. Rebuilt t case and rear diff was just rebuilt. Aluminum drive shaft.
The car has never been tuned with the set up. However he told me all the data of the car was provided to ecm link and the car does drive ok. Some driveabliliy issues, common for the most part. Idle issues, sticking Throttle body, bad shaft seals I suspect . The car pulls very hard, I noticed about 24lbs of boost on the aem mechanical gauge. However it spikes to near 30 or a bit over and I hit fuel cut a couple of times putting the car through its paces. It has a mechanical boost controller. The owner told me I drove it more aggressively then he ever had. On return to the garage after test drive a minor coolant leak was found on the t stat housing and a drip of oil off the drain plug. Not sure where the leak is coming from, just the plug or further up.
Price: asking price was originally $7500.00. We both agreed that to be too high considering the condition of the car, miles , rust. We both decided time was needed to think about price. He was not willing to get on the floor to see the rust I was seeing under the car. He was dressed to go back to work after showing the car so that’s understandable. I did advise him to look with his own eyes so he can come to terms with that aspect of the car and how it will affect the value.
So that leaves us with the question. What’s a FAIR price for this car. I’m not in the business of low balling people and I truly want to make him an informed and reasonable offer. I will leave it to all you forum members to advise me on the value of these cars today. I have been out of the scene for too long to make a completely informed decision. Your thoughts and input on the car are appreciated. If you would like any additional info on the car to help with a valuation let me know and I’ll provide what info I can.