WTA: Owning a Evo VIII

[Mitevo7]

Dear all,

Been MIA from ZTH for quite a while, today opening a thread to help me make a decision whether i can afford a used EVO VIII GSR with my current salary. I don't mind disclose my salary so that anyone can help me in analysing some facts.

Currently my nett salary is 4k per mth with quarterly incentives, which will make up to 5k per month. I have been eyeing for owning an Evo for the past 9 years since Uni time. I commute 60 kms daily and occasionally go for visiting retailers for 3 days. My job is mainly indoor.

In your opinion, do you think my current salary can afford an Evo VIII as a daily? Btw i don't owe bank any money as i haven't purchase any property yet. My current car has already paid off.

Cheers,

Ken

 

[RENESIS VIII]

Are you paying full cash to buy the Evo or are you paying it in monthly installments? I remember once an Evo X owner here said that he need to allocate around RM1k per month for his petrol bills as he uses it for daily drive. I don't think the 4G63T engine in Evo VIII will consume less fuel than 4B11T in Evo X.

 

[Mitevo7]

I will be paying half of the car with cash and aim to settle the remaining with 5 years. I will allocate about RM1k for installment. Wow ... the 4G63T consumes like an elephant. I think remapping the ECU is needed to lower than the consumption and lower down the boost as well with boost controller.

 

[lsm1991]

5k per mth.... its really pushing it, do you have any other commitments? wife? house?

 

[Shinjite]

I will be paying half of the car with cash and aim to settle the remaining with 5 years. I will allocate about RM1k for installment. Wow ... the 4G63T consumes like an elephant. I think remapping the ECU is needed to lower than the consumption and lower down the boost as well with boost controller.

If you can get 10KM/L it is very lucky already. Does your 60km commute daily comes with heavy traffic jams? Expect average around 8km/L.

 

[RENESIS VIII]

I will be paying half of the car with cash and aim to settle the remaining with 5 years. I will allocate about RM1k for installment. Wow ... the 4G63T consumes like an elephant. I think remapping the ECU is needed to lower than the consumption and lower down the boost as well with boost controller.

Actually, why not consider it as a weekend car or something. If your current car have a better fuel consumption, why not use that for daily? Nothing much you can do with an Evo if you are driving inside a city especially if traffic jam always occurs. At least you can save up on fuel and reduce the time interval between oil changes and services.

 

[Mitevo7]

5k per mth.... its really pushing it, do you have any other commitments? wife? house?

No i don't have any commitment currently. Still single. Got a GF though and we both won't married that early. I am pushing late 20s.

If you can get 10KM/L it is very lucky already. Does your 60km commute daily comes with heavy traffic jams? Expect average around 8km/L.

Yes of course, i am working in Kota Damansara while my GF works in Subang SS15. We car pool to save fuel. I face jamme every day on Federal Highway in the morning, NKVE jamme in the evening while on the way back, then a short jamme at Federal to reach Klang.

Actually, why not consider it as a weekend car or something. If your current car have a better fuel consumption, why not use that for daily? Nothing much you can do with an Evo if you are driving inside a city especially if traffic jam always occurs. At least you can save up on fuel and reduce the time interval between oil changes and services.

I have one car and my GF has one. Our apartment only gives us 2 parking lots. I will either replace my current 08 Lancer or rent another parking lot, not expensive for additional parking lot, its only RM80 per month.

 

[RENESIS VIII]

Perhaps it is better if you use another car as daily instead of the Evo. Probably that will be better for your Evo too if you are not using it occasionally and exposing it to various risks of daily driving in KL such as minor scratches and dents.

 

[Shinjite]

Yes of course, i am working in Kota Damansara while my GF works in Subang SS15. We car pool to save fuel. I face jamme every day on Federal Highway in the morning, NKVE jamme in the evening while on the way back, then a short jamme at Federal to reach Klang.

Yo, you're a Klang dude too? I am from Klang myself. Anyway, since you are facing massive jams everyday, if you're going to get the EVO, it will only be a weekend car. Petrol will definitely kill you if you drive it daily. Trust me :)
Even though you don't have commitments, RM5k is really pushing it to the limit like what lsm1991 said earlier. Not to say that we are stopping you, it is just ill advise to get one at this stage. The car can come later.

 

[6UE5t]

Hmm bro, you want to already commit 20-25% of your income just for a car installment?? Not to mention that this is a pretty old car which most people already abuse kaw kaw so may need to spend even more to repair stuff. Then you'll get itchy for mods as this car has tons of options available. And yeah again the fuel consumption, at best only 8km/ltr, at worst can be 5-6km/ltr.

IMHO that's really not a wise choice at all. I applaud you for really wanting to live up your dream with that awesome car but I suggest you to be a bit more patient and work hard & smart to earn more first. Note also now economy is not good, things are more expensive every time, so better save for the rainy days.

 

[Izso]

I like this sorta thread. Nevermind he comes in asking about owning a nice car and all, but at least sets realistic expectations and provides complete info.

So let's break this down a bit. There's a EVO VIII in ZTH that's selling for 90k that's almost stock. So I'll use that as a guide.

1. Your salary is 4k + 1k a month. Banks will only look at the 4k, and take 30% of your gross salary as your loan capability per month. So that's about RM1200 approvable loan. Do you have any outstanding credit cards? Property under your own name or shared? Ptptn? Deduct all that from your salary before taking out 30% as your approvable monthly instalment.

2. You have a Lancer. I'll assume it's the 4B11 generation one. Resale value for a 2012 model is about 50k. So the Evo being 90k means your loan will be 40k and interest on used cars isn't cheap, I'm gonna guestimate it about 5%. Max loan for older cars these days is 5 years. So that means monthly including interest for 5 years is roughly about 850 a month.

3. Petrol on a Evo is about 6 to 10km/L max. Full tank of RON97 40L is RM78. KD to Subang and back sounds like roughly you travel 70km a day just to work. So 20 days work (weekends off) is 1400km and if I take the average of 8km/L fuel consumption, that's roughly 5 times refill in that 20 days. So your petrol bill in a month will minimally be RM400. This is not including weekends, if you include - it'll probably shoot up to RM600 depending on where you go and whether you boost or not.

So that's RM500 (average) petrol and RM850 monthly instalment.

4. Then there's maintenance. The VIII is not a new car - parts will break down, things will need replacing, the oils alone for this car will be expensive since you'll be using the good stuff for the engine, gearbox, LSD, er.. I forgot one other thing. I recall it needed 4 types of oils to replace. Then there's the tyres. 17" reasonably good tyres go for RM400 a piece for roughly a year. And since the car is turbo, your oil changes will be helluva more frequent than NA. Maybe every 5000km change oil?

5. Evo's are very high on the thief list. You'll be worried about the car day in and day out if it's a daily. Then the amount of money you'll end up spending on security will add up to be about 3k+ (I did something similar to my car in the day).

Not trying to discourage you but just laying down the facts. Evos are awesome cars. Just that most awesome cars need a lot of money to keep it awesome.

 

[ken yeang]

The insurance will cost more than other typical vehicles, if I am not wrong as this car is high on the list among thieves, etc
Either that, or they will insist the owner to install much better (and expensive) alarm system.

At one time, my uncle had to do that, becoz his Triton, and his CRV is a hot item, among thieves.


What bro Izso said is true. In addition, the cost would not include modding/upgrading the EVO, esp when the owner becoming itchy-hand and kana poison by the group of friends.


Buying is ok, keeping and maintaining the car is much harder.

 

[lsm1991]

yeah.... you should minus all your expenses and come up with your gross salary 1st to see if you can afford to maintain this high performance car.....
trust me... an old car's maintenance can get pretty scary. Things can and will go wrong when you least expect it and some of these parts will burn a hole in your pocket. (some of this fires might even burn your pants off)

then comes the poison... when you start modifying, say goodbye to all your savings

**also, its not actually fun driving these cars in jams..... it can be a real pain.... kaki sakit, hati sakit (knowing that your petrol is burning) and if your car is bising, ahh telinga also sakit (droning is nice for a while, but after a while it grows old)

i myself own a 20 year old car which i was expecting to maintain for 5-6k anually. After 6 months ow ownership, yeah... looks like that aint happening :proud:

 

[6UE5t]

The insurance will cost more than other typical vehicles, if I am not wrong as this car is high on the list among thieves, etc
Either that, or they will insist the owner to install much better (and expensive) alarm system.
....

This is what I'm also wondering actually here in Malaysia. I heard for this type of cars (high performance ones), they'd add some loading so the premium will be more expensive coz it's categorized as sports car, is it true?

Then if we do install very good alarm and immobilizer systems, can that reduce the premium?

last news I read from Paultan is that starting July they'd revise the insurance regulation to make it more free to the insurance companies to determine and therefore make it more like developed countries such as US whereby the premium will depend of the type of cars & age, driver age, gender, records, etc2 so in summary be more risk specific based premium. So if this comes true than such cars will really get hit with high premiums. This TS should also consider.

 

[ixeo]

Insurance detariff is coming. Shit will only get more expensive for an Evo.

 

[lsm1991]

This is what I'm also wondering actually here in Malaysia. I heard for this type of cars (high performance ones), they'd add some loading so the premium will be more expensive coz it's categorized as sports car, is it true?

Then if we do install very good alarm and immobilizer systems, can that reduce the premium?

last news I read from Paultan is that starting July they'd revise the insurance regulation to make it more free to the insurance companies to determine and therefore make it more like developed countries such as US whereby the premium will depend of the type of cars & age, driver age, gender, records, etc2 so in summary be more risk specific based premium. So if this comes true than such cars will really get hit with high premiums. This TS should also consider.

yesh.... me kene 30% loading.... (could be more, i cant really remember)

as of right now you could have a 5k alarm system, they dun care, they charge the same premium (afaik)

 

[Mitevo7]

I like this sorta thread. Nevermind he comes in asking about owning a nice car and all, but at least sets realistic expectations and provides complete info.

So let's break this down a bit. There's a EVO VIII in ZTH that's selling for 90k that's almost stock. So I'll use that as a guide.

1. Your salary is 4k + 1k a month. Banks will only look at the 4k, and take 30% of your gross salary as your loan capability per month. So that's about RM1200 approvable loan. Do you have any outstanding credit cards? Property under your own name or shared? Ptptn? Deduct all that from your salary before taking out 30% as your approvable monthly instalment.

2. You have a Lancer. I'll assume it's the 4B11 generation one. Resale value for a 2012 model is about 50k. So the Evo being 90k means your loan will be 40k and interest on used cars isn't cheap, I'm gonna guestimate it about 5%. Max loan for older cars these days is 5 years. So that means monthly including interest for 5 years is roughly about 850 a month.

3. Petrol on a Evo is about 6 to 10km/L max. Full tank of RON97 40L is RM78. KD to Subang and back sounds like roughly you travel 70km a day just to work. So 20 days work (weekends off) is 1400km and if I take the average of 8km/L fuel consumption, that's roughly 5 times refill in that 20 days. So your petrol bill in a month will minimally be RM400. This is not including weekends, if you include - it'll probably shoot up to RM600 depending on where you go and whether you boost or not.

So that's RM500 (average) petrol and RM850 monthly instalment.

4. Then there's maintenance. The VIII is not a new car - parts will break down, things will need replacing, the oils alone for this car will be expensive since you'll be using the good stuff for the engine, gearbox, LSD, er.. I forgot one other thing. I recall it needed 4 types of oils to replace. Then there's the tyres. 17" reasonably good tyres go for RM400 a piece for roughly a year. And since the car is turbo, your oil changes will be helluva more frequent than NA. Maybe every 5000km change oil?

5. Evo's are very high on the thief list. You'll be worried about the car day in and day out if it's a daily. Then the amount of money you'll end up spending on security will add up to be about 3k+ (I did something similar to my car in the day).

Not trying to discourage you but just laying down the facts. Evos are awesome cars. Just that most awesome cars need a lot of money to keep it awesome.

Wow a comprehensive analysis, which is what i am asking for. Seems like you are having one for yourself. I am very aware of the AYC, ACD maintenance. Many other owners i met were shocked when they first having their first EVOs. For maintenance wise, let's hope and pray hard nothing major needs replacement except for typical oil changes and brake services.

Evos are high on thief list ? That is something i don't aware. Need to invest in quick release steering wheel and pedal locks then hahaha.

Anyway reason i chose VIII over IX or even X simply because i like its shape more than others. In fact my best choice will always be VII but its too rare to find a lightly modified one.

 

[Shinjite]

Wow a comprehensive analysis, which is what i am asking for. Seems like you are having one for yourself. I am very aware of the AYC, ACD maintenance. Many other owners i met were shocked when they first having their first EVOs. For maintenance wise, let's hope and pray hard nothing major needs replacement except for typical oil changes and brake services.

Evos are high on thief list ? That is something i don't aware. Need to invest in quick release steering wheel and pedal locks then hahaha.

Anyway reason i chose VIII over IX or even X simply because i like its shape more than others. In fact my best choice will always be VII but its too rare to find a lightly modified one.

I assumed you have already done your research on it prior to the creation of this thread since you have met a lot of owners. Anyway, from your reply it seems you have made your decision. Enjoy the ride

 

[Mitevo7]

I assumed you have already done your research on it prior to the creation of this thread since you have met a lot of owners. Anyway, from your reply it seems you have made your decision. Enjoy the ride

Hahaha well indeed i am, for many years before. I promised myself if i can earn about RM5k a month i will really look for an EVO. For the meantime i will lay low and keep searching for a lightly modded unit. Stroked EVO engine is a big NO to me.

 

[mag9556]

Actually I also had a dilemma like you last time..

I drove a Perdana V6TT (my favourite like you waited for 9 years but lucky price for perdana drop) before but for a year after used I sell the car off since once I calculate the maintenance and the time lost for this, I can buy a brand new car with no worries for another 5 years which I am using the car now...hehe...
Every time sit at garage just to wait for the repair, service, and upgrading until one time my gf (now wife) ask me to marry the car instead of her.
It will be like having a pet or mistress once you own such monster thus pocket always dry, want to go here need to think and calculate, go there also calculate on the budget.

Manual also will make your life miserable since you are in Klang valley thus you can not able to guarantee that your butt will stick in office for another 5 years since such market situations.

The FC, no need to think it will be low since mine full tank just can reach 350km (since modded a lot) only i dont know how many liter tank (5 year back already) but damn can easily reach RM 1000 just for petrol a month coz every tank RM 100++


Just my experience, at the end also depends on you...
me now just an a pek sitting a family car with kids now..
every one also want to owe their dream car, make sure that car is a liability not an asset.

Good Luck