Our daughter just totaled out her 2007 Yaris, which required some value research. The car is apparently worth about $8400. It was 10,999 new. I then checked my 2008 Crossfire at $23K new. Mileage is analogous, and the Crossfire is in better condition. The value of the Crossfire appears to be about $6900. How many things are wrong with this picture?

 

The $23k new was a discounted price. A worse situation if you look at the MSP when new.

 

Cars aren't produced anymore, and parts are hard to find. So, the insurance companies have devaluated the XF even more. Now, in the buyers market, your car is worth more.

 

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Just curious - Where did you get this figure from? My insurance company would be in for a bit of a battle if they tried to settle for something like this. It depends on your car, but I'd be going for replacement value, and I'm pretty sure that I couldn't find another for $6900.00.

 

The value came from KBB.Com. They came back with the buyout on the Yaris. It is $9k straight up. This had to be the cheapest car to drive in the history of the world save for a Land Rover Defender 90 from the nineties. To an earlier comment, I would guess that there wasn't a single 08 Crossfire that sold w/in $10k of MSRP (hope I'm not insulting anyone).

 

Twenty-five non-SRT Crossfires on Ebay. Highest bid is $7k on a thirteen thousand mile car. Asks are in the thirteen range, but they don't seem to pull it.

 

I once had a very problematic 1995 Chrysler LHS that I purchased new for $35k. Kept it until it was 4 yrs old and 95K miles. Couldn't sell it privately for $8500 but that was also the asking price for many 1995 Honda Civic 2 door hatchbacks with more miles for the same price.

 

The car is worth what someone is willing to pay. I paid over $7K, and that was FAR less than anything else in town. To be honest, I do not know where these "cheap" crossfires are, I could not find one. At least not in good condition. It is all about supply and demand. If you own a Crossfire, you control the supply, so don't sell cheap. Tell people how great the car is (it is a great car, sure it is flawed - everything and everyone is) and you can improve the demand. I think the car will increase in value over time, but if not, I can not think of a better car to enjoy at anywhere near this price range.

 

This is why even though the Crossfire is technically the 2nd "daily driver"....we are still trying to keep the driving to a minimum. Unfortunately, we don't plan on keeping the Crossfire for the full term of its loan but we do want to keep the value there. The Crossfire is up to 21k miles but for a 2005 it's not bad at all. Heck our 2000 Jetta is up to 202k miles haha. We don't plan on letting the Crossfire go easily, that's for sure.