I feel for you guys. But since I'm in the market to buy a used '07-'09 I can't say I'm upset about the depreciation (although the same thing will continue to happen to mine).

It might be in part due to the warranty issue. A not-so-knowledgeable salesman told me the 5 year bumper to bumper is transferrable, but the 10 year powertrain is not. True? If so that could explain some of decline.

 

Your post freaked me out a little so I went and checked kbb.com for the private party value on my 2008 XLS 4WD. It is much higher than I expected - $22.9k.

Not sure why yours came back so low - it should take 3-4 years before it depreciates by 50% I think.

 

Over here (Metro Vancouver), nobody can get even close to book value. There are so few available, that prices are pretty high (got my 08 LS 4WD for $23k, which is a pretty good bargain here for mint condition/10k miles). Before that, was looking at an 08 XLS is going for about $30k at local dealers. A severely abused 07 XLS with bald tires and scratches everywhere/huge dent was selling at 26k at an official Mitsu dealer.

 

The problem here in Ohio isn't that the prices stay high, they're very affordable. It's that there are so few of them. Even Subaru Outbacks, which aren't too common here, outnumber Outlanders at least 5:1. In the '07-'08 range there are exactly 2 for sale within 30 miles.

 

Concerning the transfer of the Mitsubishi warranty. I owned a 2003 Hyundai Elantra before I bought my Outlander. Hyundai like Mitsubishi has a 5yr/60,000 mile base warranty and a 10yr/100,000 mile powertrain warranty.

Like Mitsubishi the Hyundai powertrain warranty could not be transferred to a 2nd owner. In fact, I could be wrong, but I think its pretty standard for most manufacturers that the powertrain warranty can not be transferred.

 

Yes, the 10 year powertrain warranty is not transferrable to 2nd owner. I bought my 2008 XLS 4WD (GPS, Sun n Sound, leather) used for a little less than $24k, and they told me I only have until the car reaches 60k miles for the bumper to bumper warranty. The car had 13k miles on it, so I still have 4 years/47 k miles warranty, which is still more than a brand new Toyota/Honda..
I love my Outlander... I will take it over CRV or RAV4 any day...

 

Full warranty (5 year B2B/10 year powertrain) is transferable in Canada...that's why they get snapped up so fast...as no car has a warranty that long (Hyundai only has 5 year here).