Mitsubishi Pajero Sport GLS Resale Value
We are looking to buy a new Mitsubishi Pajero Sport GLS in white. As this car comes with five years warranty, when do you think would be the best time to sell the car? It would probably do between 10,000-15,000km a year.
The best time to sell depends on you. In five years, you will have travelled less than 75,000km. Under Australian Consumer Laws, manufacturers are required to support owners outside of the warranty period if any component fails as a result of a manufacturing defect. What matters is not the warranty but the reasonable life of the component that failed. That's what the law says - since it was changed on January 1, 2011.
So if the car is properly maintained and low on kilometres, and (say) the transmission failed, then you’d have a solid claim under the Consumer Guarantees to require Mitsubishi to fix it or replace the transmission for free. (Most people do not know this.) Of course, if you abused the vehicle, or if you neglect it by not getting it serviced, it's your problem. So I’d be keeping the scheduled maintenance up to it, and own it for maybe 100,000-120,000km, unless there’s a good reason to dispose of it earlier.
The value is unpredictable, but SUVs are popular in general, and I’d be using the rule of thumb here, which says cars lose about 30% in 3yrs and 50% in 5yrs. That’s probably pretty close - but nobody has a crystal ball here.
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