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Why are Galant VR4s undervalued?


bobbybdemented
Junior Member


Galant VR-4 org Post #: 1226199 posted 04/01/16 09:04 AM     Remind Me!  Send Private Message   Edit Post      
I've been in the automotive field pretty much all my adult life and have bought,restored and sold countless cars. I have driven pretty much every car out there, from super cars to electric cars. That being said I can say that the Galant VR4 in my opinion is a very well built car and the rarity and history/prestige of these automobiles you would think would have more value then a honda civic of the same year. From what I can tell most of the the vr4s have been wrecked, rusted away and heavily modified. They can't be to many clean stock examples left in the world? Maybe 30 years from now they might be worth a pretty penny.What do yall think, are these cars undervalued?


Edited by bobbybdemented (04/01/16 09:05 AM)

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gvr4ever
Forever Member
347/1000


Galant VR-4 org Post #: 1226203 posted 04/01/16 09:28 AM     Remind Me!  Send Private Message   Edit Post      
Japanese classics in America are just now becoming a thing. Some early 90s Japanese cars are starting to become classics as well. I hope the Galant VR4 joins the list. I see two things going against it. The Galant VR4 never seems to be mentioned much in classic WRC racing. They skip our car and go for the EVO 1. Another issue is, the car was so limited and unknown, that most people don't seem to even know what it is. I'm sure video games have expanded the knowledge a little, but they still rarely get mentioned. In the end, if they ever do become desirable, anyone who has a non rusted non hacked POS will be in a good position. I'd personally just like to be able to get classic insurance on mine before to protect something that can't be replaced with a decent dollar amount for total loss or theft.



1992 Nile black w/sunroof
15xK miles. 2nd owner since 1998

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turbowop
Hard Snarker
1051/2000



Galant VR-4 org Post #: 1226214 posted 04/01/16 12:51 PM     Remind Me!  Send Private Message   Edit Post      
I think the rarity is a big part of it. Anytime I take my car to a meet, hardly anybody knows what it is. Once I explain it, those that didn't know say they've heard of them, but never really seen one. Their time will come. It's still too early yet, IMO.



-Mark

A face only a grocery shopper could love.
1051

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FlyingEagle Galant VR4.org Moderator
Eager Beaver


Galant VR-4 org Post #: 1226215 posted 04/01/16 01:05 PM     Remind Me!  Send Private Message   Edit Post      
Not enough exposure in Initial D. Shrug.

Should be much better, just like it's smaller sibling.

Mirage/Colt<Galant<EVO

Just put a GSR badge on any Mitsu, and smile to yourself.

If it stays this way, there will lots to work with at reasonable pricing before it all goes through the roof.

Excitingly, these aren't overpriced Supras.



C53A 1 of the ~1500

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Olson
Pwnd by Rance.
338/2000


Galant VR-4 org Post #: 1226216 posted 04/01/16 01:05 PM     Remind Me!  Send Private Message   Edit Post      
VR4 AKA DSM people are cheap so they will always buy cheap. In the rare case someone will spend the money to a decent one. Look at the classified adds theirs a nice stroker vr4 for dirt cheap almost the cost of a motor build and you get a whole car. Cheap people are cheap



338/2000
05 TDI Wagon
88 Raider

"Oh, and if you want to build your status and rank, go play some WoW. Come back when you're ready to talk cars". Qship

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89Patches
I <3 AMS


Galant VR-4 org Post #: 1226225 posted 04/01/16 02:40 PM     Remind Me!  Send Private Message   Edit Post      
Quoting FlyingEagle:

Excitingly, these aren't overpriced Supras.




They're not overpriced, worth exactly what they should be. Wanna talk overpriced cars? How about Porsche...

Funny thing is everyone here would like these to be worth what? $30K for a nice one, but I guarantee not anyone here would pay that much to own one. I wouldn't, too many other cars to buy for that price. Realistically a nice one that comes up forsale is priced and sold for what? $10-$15K, I mean actually all around nice cars not just one that has nice parts. These things are priced where the should be for the exposure they have...

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gvr4ever
Forever Member
347/1000


Galant VR-4 org Post #: 1226228 posted 04/01/16 03:25 PM     Remind Me!  Send Private Message   Edit Post      
Classic Porsche values might be ballooned, but they were cheap for so long. They will likely relax to a more realistic value at some point. 60s and below will probably keep going up.

I've never been in a Supra. It's my understanding that quality is top notch, but I've never shopped for one. I rather have a SC300 5sp anyway.

The reason these cars keep selling really cheap is because I'm seeing what looks to be decent clean ones going really cheap. I guess the owners need a few grand really badly or something. As long as people sell them dirt cheap, they will be worth nothing. Crazy a Mitsu starion with a weaker engine goes for more.



1992 Nile black w/sunroof
15xK miles. 2nd owner since 1998

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slugsgomoo
god hates stupid people
461/1000


Galant VR-4 org Post #: 1226237 posted 04/01/16 05:40 PM     Remind Me!  Send Private Message   Edit Post      
I think it's increasing, and part of that comes from the fact that people who are holding on to them long term tend to be doing cleaner builds with nicer examples. I know in the PNW alone of at least 4-5 that would easily fetch a premium due to the rust free nature, good mods and solid history.

I know a guy down in TX recently sold one for ~10k, because someone wanted one and knew what they were looking for. If you offered me the opportunity to buy a clean shell for 3500, versus buying mine, mitsuturbo's, wops, or the infamous #3 for 15k+ and I had to have a built galant, i'd be stupid to not pay the extra $$.

Clean + good build is worth something, because it can't be replicated for that. It's so ridiculously expensive to build it yourself, even if these cars double in value, it's not even coming close to getting the money invested out of them.

That said, I don't think that there will be a huge market for stock barrett-jackson-y examples. Maybe a few, but in general I think the people who are going to be looking at these cars in 10-20 years will want clean and an OEM appearance, but they're not going to want the shitty suspension, power level and whatnot of the factory cars.

I do know that if someone walked up and offered me $10k in cash for my car in person I'd... well, I'd politely decline, but inside, the term "laugh in their face" definitely is the first thought.



-andrew
{witty signature}
#461 Kensington Grey - 2.4L/T67/etc
2015 Triumph Tiger 800 XCx
2014 Ford Focus ST

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Jesus_Negros
Unempowered ADMIN


Galant VR-4 org Post #: 1226255 posted 04/02/16 01:19 AM     Remind Me!  Send Private Message   Edit Post      
Please refer to my sig.



Quoting coyotes:

Just because you WANT your rare turd to be valuable doesn't mean it's gonna be.




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gvr4ever
Forever Member
347/1000


Galant VR-4 org Post #: 1226265 posted 04/02/16 08:58 AM     Remind Me!  Send Private Message   Edit Post      
Your signature seems counterproductive to the goals of the forum. Do you WANT our cars to be worth nothing forever? I for one have been holding off on taking my car to another level because I have zero protection for doing so. I for one, will not invest in something that can't be protected.



1992 Nile black w/sunroof
15xK miles. 2nd owner since 1998

Posts: 6007 | From: central Indiana | Member Since: 08/06/02 | IP: (199.66.65.60) | Report this post to a Moderator

Jesus_Negros
Unempowered ADMIN


Galant VR-4 org Post #: 1226266 posted 04/02/16 10:06 AM     Remind Me!  Send Private Message   Edit Post      
Well here's your mistake:

Don't get into this car thing expecting to get your money back out of it. Definitely not with a mitsubishi. Should've went with old American muscle cars or jumped on the 911 wave before it swelled. These aren't investments, rare doesn't always mean valuable.

My sig, basically means. Don't expect your car to be worth something because it's rare. It's a turd because more than likely it's in shit shape or not running. Yet, you want it to go up in value. But, not willing to put anything into it. What a surprise....

Quote:

I for one have been holding off on taking my car to another level because I have zero protection for doing so.




^ This right here....is counter productive. If every VR4 owner thinks like this then these cars will never be worth anything. You're exactly who is being talked to in my sig.



Quoting coyotes:

Just because you WANT your rare turd to be valuable doesn't mean it's gonna be.




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gvr4ever
Forever Member
347/1000


Galant VR-4 org Post #: 1226267 posted 04/02/16 10:31 AM     Remind Me!  Send Private Message   Edit Post      
I bought my car in 98 to beat the insurance company because I was under 25. I'm older and wiser now and I am NOT going dump tons of money in to a car that is only worth a few hundred to my insurance company. That is just stupid. I actually met a guy years ago that had is GVR4 wrecked right after he built it. His sunroof actually lives on in my car, but he lost a lot of money and if I remember right, he didn't even get a month of enjoyment out of his car.

If one chooses to dump thousands in to a money pit, that that is personal preference. I for one, refuse to do it.



1992 Nile black w/sunroof
15xK miles. 2nd owner since 1998

Posts: 6007 | From: central Indiana | Member Since: 08/06/02 | IP: (199.66.65.60) | Report this post to a Moderator

turbowop
Hard Snarker
1051/2000



Galant VR-4 org Post #: 1226271 posted 04/02/16 12:18 PM     Remind Me!  Send Private Message   Edit Post      
I dumped a ton of money into my car because it was fun.

That said, with these cars now at 25 years old, you can do stated value coverage through most insurance companies. I plan to have my car appraised within a month to do just that.



-Mark

A face only a grocery shopper could love.
1051

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GSTwithPSI
A hole
820/1000
1837/2000



Galant VR-4 org Post #: 1226274 posted 04/02/16 03:21 PM     Remind Me!  Send Private Message   Edit Post      
Quoting gvr4ever:

Your signature seems counterproductive to the goals of the forum. Do you WANT our cars to be worth nothing forever? I for one have been holding off on taking my car to another level because I have zero protection for doing so. I for one, will not invest in something that can't be protected.




I have a 15k stated value policy on my car, no appraisal required. That's more than it's probably worth, and also more than I have in it. Here's a thread with tons of info on the topic: click

Long story short, there are plenty of ways to protect your investment if that's what you're really worried about. Although, I'd say there are many other platforms that carry much better resale value if you're wanting to recoupe every penny you dump into the car. Most people build these cars because they like them, not because they are worried about what they are worth before or after said build.

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JNR
5 star (English Professor) member Has extensive pop up picture book collection
20/1000


Galant VR-4 org Post #: 1226284 posted 04/02/16 07:12 PM     Remind Me!  Send Private Message   Edit Post      
It comes down to how 'popular' something is at the time, really; if we're talking big % over others. Still, these cars are certainly undervalued and often overlooked...If the 'name' and/or image ever exploded, so would the prices.

Edit - but yes, I agree with a lot of it being the owners mentality and perhaps ignorance of what these truly are and they don't make things like this anymore, really.

I blame the video games


Edited by JNR (04/02/16 07:18 PM)

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citymunky
Fake Title
733/2000
1505/2000
923/2000
832/2000


Galant VR-4 org Post #: 1226312 posted 04/03/16 12:04 PM     Remind Me!  Send Private Message   Edit Post      
Quoting GSTwithPSI:

Quoting gvr4ever:

Your signature seems counterproductive to the goals of the forum. Do you WANT our cars to be worth nothing forever? I for one have been holding off on taking my car to another level because I have zero protection for doing so. I for one, will not invest in something that can't be protected.




I have a 15k stated value policy on my car, no appraisal required. That's more than it's probably worth, and also more than I have in it. Here's a thread with tons of info on the topic: click

Long story short, there are plenty of ways to protect your investment if that's what you're really worried about. Although, I'd say there are many other platforms that carry much better resale value if you're wanting to recoupe every penny you dump into the car. Most people build these cars because they like them, not because they are worried about what they are worth before or after said build.





Good to know, I have USAA as well and this was something I was worried about.



1990 MMC GVR-4
733/2000 (R.I.P. TurboRen) Sold.
1505/2000 (Loves strippers) Sold.
832/2000 (parts car) R.I.P.
923/2000 (my 1st) R.I.P.

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G Galant VR4.org Moderator
JDM Unit
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Galant VR-4 org Post #: 1226313 posted 04/03/16 01:46 PM     Remind Me!  Send Private Message   Edit Post      



www.japanesenostalgiccar.com
www.nostalgic.co.jp

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383mazda
Junior Member
860/1000


Galant VR-4 org Post #: 1226391 posted 04/04/16 10:35 PM     Remind Me!  Send Private Message   Edit Post      
I don't think these cars had the exposure or made big enough waves when new. I've been a car guy my whole life (in my early 30's), and my dad has been into muscle cars since the 60's - neither of us had heard or knew anything about these cars. In high school a had a few friends into DSM's, but I drove a GN that was much faster, so I never pain much attention to my "ricer" friends, lol. Ironically, my GN hobby lead my to Turbo Tom's videos, which introduced me to the GVR4.
I'd love to see these take off in value, however, my younger brother has an '83 Volvo 242 group A car, one of only 500 ever made, and to the right person who knows what it is, it's maybe worth $3500, to anyone else it's just an old Volvo. When his car, or mine, roll away in 3rd gear from a BRZ or new Civic, people probably just think, "who in the world dumps a ton of money into that old dumb car to make it fast?!?"

Sadly though, as the DSM world shrinks / gets crowded out by newer stuff, our cars are becoming more and more expensive to maintain, let alone upgrade. The only early 90's imports I see going up in value are cars with an LSx swap option.



Wife's car: 2004 Subaru Forester XT
My car: 1992 GVR4 #860/1000
Let the battle begin!!!

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JNR
5 star (English Professor) member Has extensive pop up picture book collection
20/1000


Galant VR-4 org Post #: 1226409 posted 04/05/16 01:50 PM     Remind Me!  Send Private Message   Edit Post      
The Galant VR-4 was in the magazines of the day, like Car and Driver, etc. I do recall reading about them and was impressed by its performance for the time period...Not overly fast or anything, but for a 4-door, since nobody cared about them still, other than some Honda accord's being lowered and fixed up (pre-ricer days). Plus, it was a clean design and Mitsubishi was in its heyday still and made some nice, newer stuff (eclipse, 3000GT, etc.) across the line back then. For some reason, always thought about the Diamante being the VR-4 and probably mixed that one up because it was such a clean design and even that had pretty good performance back then (again, esp for a 4-door).

Years later, remembered the car (VR-4) when I was looking for a 3rd vehicle. Wanted a Grand National or something like that, but already had RWD performance cars and wanted something different. Sort of wished I had gone with the GN though, being these things just aren't worth anything, in comparison. Almost bought a near new GN around 1989 for like $10k...and there was an 89 Turbo T/A that only had like 5k and Turbo City owner was selling (some good mods, but looked stocked and super clean) for $13k in 1992 IIRC. Ended up buying a GMC Syclone not too long after that for like $15k with real low miles (2 year old); they had just sold their last brand new one for $18k! They were stickered at $28k, which seemed like a lot of $ then, lol. Actually it was, esp during that recession and for basically a 2-seater. One of the few cars I made a good amount of $ on when I sold it a couple years later, driving it A LOT and having a great time in it (talk about a good stoplight racer to 60 )


Edited by JNR (04/05/16 01:55 PM)

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slugsgomoo
god hates stupid people
461/1000


Galant VR-4 org Post #: 1226454 posted 04/06/16 12:29 PM     Remind Me!  Send Private Message   Edit Post      
Quoting turbowop:

I dumped a ton of money into my car because it was fun.

That said, with these cars now at 25 years old, you can do stated value coverage through most insurance companies. I plan to have my car appraised within a month to do just that.




Most of the companies i've looked at that will insure a modified car for stated value (some won't do modded cars) generally cap the un-appraised values at 25k. If you want to go over that you'll need an appraisal though.



-andrew
{witty signature}
#461 Kensington Grey - 2.4L/T67/etc
2015 Triumph Tiger 800 XCx
2014 Ford Focus ST

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JoeDaddy0
Junior Member
512/1000


Galant VR-4 org Post #: 1226495 posted 04/07/16 03:33 PM     Remind Me!  Send Private Message   Edit Post      
I use State Farm for the very reason that I drive a special interest restoration vehicle. Insurance is aware of increased hp vs maintenance as well as cost of longer cams needing better springs etc. Some of the cleaner cars (straight heat and air and all powers working on the boards have gotten over $6K even with engine or unfinished issues. Some of us have over $25K in revisions and some of us bought them new before upgrades for $30k.
Now if we consider the depreciation of most vehicles and the cost of lowering springs or coil overs, do we keep a car that got better and partly due to newer technology like EMC or DSM links and far more efficient and affordable turbos. Affordable maintenance was the motto of performance Chevrolets, Buick, Chrysler or Jaguar Hemi, all had affordable upgrades compared to Audi or BMW upgrades. I now look at maintenance compared to depreciation of any other car and enjoy the performance and better handling than a 911 that also comes with room for the kids.



Life is greater on two wheels after 2nd gear

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Jesus_Negros
Unempowered ADMIN


Galant VR-4 org Post #: 1226538 posted 04/08/16 06:27 PM     Remind Me!  Send Private Message   Edit Post      
Better handling than what 911? They're like 50 yrs of 911's, can't just say a 911



Quoting coyotes:

Just because you WANT your rare turd to be valuable doesn't mean it's gonna be.




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GSXftw
Member
1722/2000


Galant VR-4 org Post #: 1226696 posted 04/12/16 10:45 PM     Remind Me!  Send Private Message   Edit Post   
I called state farm and asked about getting classic car insurance on 1722 when the time comes. I have classic car on my 82 Supra and pay $7 a mo. I almost pay the same on my 97 Talon for standby insurance lol. I told them the story of the car being built in japan and shipped over in limited production. It confused the retards more than anything. You have to submit pictures and they say whether it qualifies or not. My Supra has a 7MGTE swap and is far from stock, but Im pretty sure they pull up a picture of a stock engine and compare. My Camaro couldn't get classic car because it was "too modified." When the time comes I'll throw some black hoses and such on the car and see how it goes.



1722/2000- Burn victim rescue
91 GSX- 11.66 @ 126 donated to save ^
97 TSI AWD - daily
97 GST- 14.7 @ 100 *sold*
82 Supra 7mgte- 12.66 @ 116
77 Camaro- 12.9 @ 107

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