I was just randomly looking on Redbook at the values of the 380.

Valuation Prices
Private Price Guide $16,300 - $18,300
Trade In Price Guide $12,800 - $14,800
Average Km 45,000 - 75,000
Price When New (RRP)* $38,490

CAN THAT BE RIGHT??!!

Cause if it is, mine as dropped 50% of its value in less than 12 months! Thats not cool.

mitsubishis have never held their values dude. especially the way the market is atm its a buyers market not sellers.

Yeah I knew that they never held their value well . . But I guess I was expecting a little more.

But hey, I didnt buy it to sell it!!

After 4-5 years it wont matter anyways.

Fleet cars are starting to hit the market at the same time that large 6cyl family cars are taking a hard hit in sales combined with it carrying the tri-diamond badge. Nothing surprising really.

Also compare that to the other vehicles of same level and you will see similar falls.
that is why i purchased my wife a kia Rio $13999.00 on road 5 year warranty with safety equip. We look at it as a rental car until the warranty is nearly expired and go then and purchase another one.

I was always going to keep the 380 for 12 - 18 months but have decided to keep it for another 2 years so that i will not owe more on it when i sell it (purchase price $21000 - would only get around $14000 selling private with 80000klms 12 months later)

I purchased mine in March for $21k, now I could buy the same km car for $16k:cry: The price of oil has killed the large car market, Gas is still over $2 a litre in NZ after peaking at $2.20 a month ago:rant: My wife wont move to Aussie I think ill have to trade her in for a lower km modellol

My wife wont move to Aussie I think ill have to trade her in for a lower km modellol
You're going to trade in your wife? Good luck with that. I hope the mileage and condition gives a good return.

When you buy a new car ...you need to factor in a depreciation of 50% over the first 3 years of its life. Simple as that. Depreciation after this time then slows considerably.

So if you are worried about depreciation

1. Buy a car 3 years or older

2. Keep your car for life, look after it and sell it 15 - 20 years down the track.Price will be related to condition.

3. Buy a classic and it might even appreciate.

4. Find some way to claim it on tax.

5. Buy low at auction and sell privately

When you buy a new car ...you need to factor in a depreciation of 50% over the first 3 years of its life. Simple as that. Depreciation after this time then slows considerably.

So if you are worried about depreciation

1. Buy a car 3 years or older

2. Keep your car for life, look after it and sell it 15 - 20 years down the track.Price will be related to condition.

3. Buy a classic and it might even appreciate.

4. Find some way to claim it on tax.

5. Buy low at auction and sell privately

You forgot option 6: Accept the fact that cars depreciate, it's a bitch, but it ain't gonna change and just deal with it. lol

mitsubishis have never held their values dude. especially the way the market is atm its a buyers market not sellers.

Yup, it certainly is. I just bought a 4 year old $34000 TL for $12750 with just over 50k on the clock, very sad for sellers.

Indeed there seem to be a number of factors, one of which is the current lack of confidence in the larger car market due to the cost of petrol,

and two, the 380's are just coming onto 3 years since release are the not??

Its about this time that they hit the bottom of the big depreciation curve I think.

I traded my VRX in Feb this year and happily picked up 22k for it with 58,000 on the odometer. Phew.

Cheers.

Well boys this hit hard for me just had my redbook qoute done! sigh see attached for those interested.

Unfortunatly I will have/choose to sell as I am considering changing position that will come with a company car.

The market at the moment and the love for the car will make it very hard for me to give this one up. Not to mention the money spent on improvements, $3000 stereo, K&N, Dynamat etc.

Very sad, for me very........... :cry: