Used car price plummet


USED car prices have plummeted and experts blame a market oversupply and higher fuel prices.

The car that has lost the most value is the 2003 Mitsubishi Magna, which fell from $33,790 to $7600 in three years.
A Magna sedan bought new in 2004 for $35,910 now has a trade-in value of $13,900, while the 2005 Magna, worth $36,590 new, now has a trade-in value of $15,000.

http://www.news.com.au/sundayheraldsun/story/0,21985,20819360-661,00.html

Might be time to look at updating into a 2005 Wagon.

SIF! Find me a 2003 magna for $7,500 and i'll buy it.

SIF! Find me a 2003 magna for $7,500 and i'll buy it.

im with u there mate.... oh, but it has to be a manual!

Trade in values, wow!

Im sure if I bought a 2005 TW id be thinking of trading it in soon.

Slow news day methinks.

read this in the herald sun, its not exactly unknown that ford/holden/mitsubishi prices change alot (because of the competition)

where as the suburus/hondas/nissans are more sport cars and retain value better


toyotas are good buys, but the price seems to not fall as quick

Yah man I dont believe you can get a 2003 Magnas at $8000 even.

Instead of totally blaming it on Fuel price, what about the 380?
The 380 made the Magna end of its line, I am sure this is one of the reasons for its price drops. If the 380 was named Magna, it may have still retained some values of the TL-TW.

Waiting for the TLs to drop lower though, as it will be maybe my next upgrade then.

Everybody knows Honda, Toyota, have higher resale value. But seriously I don't regret about the Magna, cheap and reliable for me, thats all I ask.

Maybe MMAL should think about a 4cyl and bring back the Magna name.....


After I get my hands on a TL Verada Wagon that is. :cool:

Is possibly that they had a prototype in 4 cyl for 380.

They made a decision to have a name change, and so we should respect their decision. As much as I would have loved the Magna name to remain but its part of their marketing concept.

Most members know I am not a keen hot fan of the 380 here in the forums and even now with the release of the new toyota Camry. I am more convinced on that with both side to side given a choice.

The Magna has still got the Wagons. But due to the 380, the Magnas are like considered the end of their time which makes the depreciation as we know like this. My TE now is worth $4K if lucky.

Which is why I would ride this ride till the end.

I dunno where they are going with the trade in values, I had mine valued the Thursday week ago for the "typhoon" falcon.... they had 12 1/2 on the books, yes they make "change over" figure look decent by doin so... but still 12 1/2 for a TH sports I wasnt complainin...

(thk god the TMR380 flyer came out, or I could of been out of a magna :()

what a load of KRAP! :rant:

just look at how much you can buy a BA falcon or a VZ commodore for now

Redbook (trade-in) prices:

TJ Series 2 Executive Sedan 4dr Man 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03CX) $6,300 - $7,600

TJ Series 2 Executive Sedan 4dr SA 4sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DC) $6,800 - $8,100

TJ Series 2 Executive Sedan 4dr SA 4sp 3.5Gi (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03HD) $7,300 - $8,500

TJ Series 2 Limited Edition Executive Sedan 4dr SA 4sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03GT) $8,800 - $10,400

TJ Series 2 AWD Sedan 4dr SA 5sp 4WD 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03EF) $9,300 - $10,900

TJ Series 2 Advance Sedan 4dr SA 4sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DD) $7,600 - $8,900

TJ Series 2 Sports Sedan 4dr Man 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DF) $9,200 - $10,800

TJ Series 2 Sports Sedan 4dr SA 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DG) $9,900 - $11,500

TJ Series 2 Sports AWD Sedan 4dr SA 5sp 4WD 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03EG) $10,800 - $12,300

TJ Series 2 VR-X Sedan 4dr Man 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DH) $10,600 - $12,200

TJ Series 2 VR-X Sedan 4dr SA 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DI) $11,300 - $12,800

TJ Series 2 Executive Wagon 4dr Auto 4sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DJ) $7,300 - $8,500

TJ Series 2 Advance Wagon 4dr Auto 4sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DL) $8,600 - $10,100

TJ Series 2 Sports Wagon 4dr SA 5sp 3.5i (http://www.redbookasiapacific.com/au/vehicle/prices.php?key=MITS03DM) $9,400 - $11,000

pretty grim reading... private sales prices are about $2k - $4k more than these trade in prices. most of these cars are worth about 25% of new price and they're only 3.5 years old.

cheers,
.wook

and the plus side to this is for those out there driving a ****box and want to ugrade to something decent, a magna is the best value for money car that can be had.....


and thats the reason why i brought my awd, i was looking at the others com falc and the mag was soo much better value and more car for the money, and when im done with it who cares whats it's worth.... proably end up on the scrap heap..

Prices for magna have always been cheaper:) and you get a better car than any equivalent holden or ford.

My first magna was a june 1996 te, Bought in may 2000 for $6200 from auction $6800 on the road with 12 months reg. Second was an oct 98 tf adv bought in Jan 2002 $6700 auction again. 7400 registered. We shouldn't used the word cheap should be value for money!!!

Prices for magna have always been cheaper:) and you get a better car than any equivalent holden or ford.

My first magna was a june 1996 te, Bought in may 2000 for $6200 from auction $6800 on the road with 12 months reg. Second was an oct 98 tf adv bought in Jan 2002 $6700 auction again. 7400 registered. We shouldn't used the word cheap should be value for money!!!

hmm agree. is inexpensive and good car. which is why I have not sold mine.

TRADE IN PRICE.

yeh of course.... they'll give you bugger all for a trade in