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Doug
Doug, ASE Certified Technician
Category: Mitsubishi
Satisfied Customers: 8538
Experience:  Mitsubishi employed and Factory trained ASE certified technician
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Valuation magna380 vrx 384000km body fair to good mech sound

Customer Question

valuation magna380 vrx 384000km body fair to good mech sound country kms
Submitted: 8 months ago.
Category: Mitsubishi
Expert:  Doug replied 8 months ago.

Hi,

With the body only being fair and the mileage pretty high, this is going to impact your value pretty considerably. Can you elaborate on the body condition, for example is the paint just oxidized like usual, or are there major dents/previous repairs/mismatched panels.etc?

How is the interior condition? Factory equipment (leather, power seat, navigation, etc)?

Expert:  Doug replied 8 months ago.

It looks like we missed each other.

It can be very difficult to get a solid evaluation without seeing the vehicle in person, being able to check the existing/recent maintenance (like new tires, new brakes, paper records), look for deal-breakers like major rust, previous heavy repair evidence and so forth.

As a baseline for a 2007 with an automatic gear box you are normally looking at around $7000-7500, with average/normal condition interior/exterior and around 180,000km. This is assuming your absolutely average conditin example, no major flaws outstanding and ready for retailing.

In your situation where you are talking about 1.5 to 2 times the typical mileage, you would want to consider a good 10% hit on the price right off the bat. Not that this is a concern from a mechanical standpoint if everything is working properly, just that the market will likely have many more examples available with 1/2 to 2/3 the mileage which is going to hurt the value of this vehicle.
If the exterior has no major blemishes (just light/moderate oxidation as is typical) then that should not really affect the value to any great degree. These vehicles do fade pretty consistently. If there are major damages however (large dents beyond door dings etc, rust, partial repairs or previous repairs), this is going to affect the value even more than the mileage. If there are major flaws, most people will not even count the repair costs against the value as the repairs costs will often exceed the value of the car with the costs of body repairs being extremely high nowadays. It sounds like your example is not nearly that bad luckily.
The interior is usually not too big of a deal on this model as apart from leather failures they don't really suffer much wear/tear inside that will affect value. The leather will show wear more than the fabric interior, but unless it is severely damaged, the increased value of the leather against the depreciation from wear is usually a wash.
Another consideration I would take is the maintenance... on this model the spark plugs and timing belt are both due every 100,000km, and unless it has been done off-schedule in the past, it is just about due for both again. Considering the pair will run you around $750 to do, if there is no documentation for these jobs being done they should count against the value as well as many people intentionally sell these before the major service is due to avoid the expense themselves.

Based just on what you described, with a flat value around $7000-7500 for the average 2007, I would expect this model with the considerably higher mileage and what sounds like probably not more than average cosmetic wear to be in the mid to high $6000's before any other considerations. As mentioned before major flaws, overdue maintenance or unmentioned accessories/value-adders notwithstanding.

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