When I was looking for an E46, price seemed to be totally dependent on condition. You can find them for 4k, or you can pay up to 15k, all depends on how well its looked after, and how many miles. If you are serious about selling it, put it up on craigslist for what you want, and see if anyone bites. If they don't, you know its priced too high, if they do, then you can sell it and get what you want.
Almost all of my cars have been on craigslist at some point in time for over what I thought they were worth, just to see if I could find someone to buy it for that. Hasn't worked yet, but who knows, maybe some day.
this is how I look at car depreciation(GENERALLY!)
after 1st year ~20%
after 2 years ~30%
hard to estimate depreciation between 3 and 5 years because a lot of people are on the market looking for good cars of this age since the initial depreciation is the hardest to swallow and the miles are not high yet
after 5 years ~50%
after 6 years prices are all over the place because cars tend to have high mileage(100K miles is not unusual after 6 years) and maintenance costs play a big factor.
this excludes niche cars
This is just a general rule of thumb.
Unless you own an original Supra TT or NSX, you car is gonna decrease in value substantially.
With that said, it's probably worth around 10 grand I'd say. I have a 2004 non-ZHP with around 82k miles on it and I think it's probably worth around $12k as far as my insurance see's it. I bought it about 2 years ago for $21 at 55k miles on it.
People over pay on car's all the time, so post it for what you are looking for. One of my brothers friends payed I think 7grand for this beat up old Dodge Intrepid that I wouldn't even pay $1,000 for. Of course he bought it from a used car lot and they are able to finance people with bad decision making skills.
Edit: Also OP, do you own your car right now? What would you buy if you sold this car? The best "investment" in a car is to keep it forever. Unless you were gonna sell it for let's say $12,000 and then buy another equally good car for that amount of money, which you could find because of depreciation. You could get a really nice 5 of 7 series for that amount of money.
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