i bought a coilover for my 02 LANCER to drop mine (not too low)...and one of my buddies of mine lowered his ol school 240 and had to put control arms in order to adjust his camber...

do i have to get control arms for mine too?

 

you dont need arms you just need a camber adjustment kit however you only need it if you plan on dropping it more than 1.5"

 

camber adjustment kit is a bolt, correct?

 

well sort of. The front i believe are more like a separate small arm and the rears are kinda like a bracket. But once again you dont necessarily need them. What i would do is put it to where you want to lower it and if you feel that you have too much neg. camber (tire wear excessive on one side of tire) then get the kit. But normally its not till after 1.5-2" that you will really start to see some bad tire wear

 

this website seriously has everything for a mitsubishi