Just Curious has anybody looked up their value of their 2007 Outlander?

 

22,800 for excellent. Pretty low.

 

I know that I did check for my Canadian XLS in the Canadian black book and could not believed what I saw half the price of what I paid in august 07 and i only have 8000 KM on it so it's new !

 

I still owe 20,500 and its only worth 23000. Some how for only have a car that is going to totaly 35000 this justdoesnt seem right.

 

i dont understand the low resale values either...its not fit for a car with such seperior performance imho
i guess the NA brand history and (not and/or) consumer ill-information/ mis-information constributed to low appraisal
it sucks when buyers pass on getting a mitsu simply because it is not a toyota or honda

 

It'll take some time for the new Mitsu models to build resale value. Unfortunately, they are still not as popular as say a Toyota. I love the Mitsu way better than the RAV and plan on driving it for some time to come so resale is not as much of an issue.

 

Sadly, resale value is not set in stone. Just like car prices too. Manufacturer will give you an MSRP value, which is a "suggested" retail price. So is the KBB price. They're all "suggested" prices. I don't worry about it because I bought mine for keeps.

 

Blue book, black book, Edmunds value, they are all just tools. The MSRP is also a just a guide saying that this is what they think it should sell for. Nowadays dealers use auction pricesmore than anything to determine trade values.

We all know driving a car off a lot drops the value like 30%. If you like your Outtie and are happy with the payment then just be happy. When it's time to trade it in you will hopefully have gotten your money's worth out of it and owe less than they offer you in trade.

I took a loss trading in my Titan, but I actually made out in the end because of rebates, warranty, mileage, fuel savings, and how it fits into my families needs right now. For me it's not always about the money, but how the deal fits your current situation.

 

I fully expected a high rate of depreciation with it being a Mitsu. That was why I was sure to pay below invoice and not sticker price when I bought it. The year end rebates that many manufacturers use to clear the lots kill resale value. The manufacturer gives a $3,000 rebate on the vehicle you bought and $3,00 comes directly off your resale value. That is a big part of why Hondas and Toyotas hold their resale value so well. You just don't see them giving many rebates. The new Tundra appears to be an exceptio, but I think it is part of an aggresive campain to take market share from the big 3. Just my opinion.

 

I also bought mine for the long run so, I don't mind the high depreciation.

I don't have access to the Blue book value, but the CanadianBlack Book, has the 2007 Outlander at about $3000 than a Rav4
that had about the same MSRP.

One thing that will not help in Canada no matter what the brand is the drop in price due to the drop in the US $. My friend, who I was working on to get an Outlander, just bought a Rav4, he negociated a price, couple of day lattercalled to say he was buying it, and the salesman told him that Toyota dropped the MSRP by $2000 on Feb 1. Wonder what the people that bought the cars on Jan 31st are thinking?

We can hope that by the time we sell our cars, all the kids that are used to seeing Mitsubishies on Gran Turismo, will be in the market for a small SUV.