The prices of second-hand cars have sky-rocketed recently due to a lack of supply. People are simply not selling their old cars at the usual rate (as trade-ins and private sales) so the laws of supply and demand apply. That is; more demand plus less supply equals higher prices. This phenomenon has been most strongly felt in the case of locally-made Holdens and Fords, perhaps because of nostalgia and the `they don’t make ‘em any more’ factor. Either way, it’s true that the second-hand Holden Calais that cost $6000 this time last year can be worth almost double that now.

With just 120,000km showing, your car is a relatively low-mileage example and the fact that it’s a V8 is good news. Beyond that, however, you haven’t given me much to go on. For a start, 2006 was a change-over year for Holden models; the VZ left showrooms and the new VE model entered. The difference between a VZ and VE in price is significant, particularly in V8 form. I’d also need to know whether your car is a Calais V. All those things have a bearing on value.

For the record, though, a VE Calais sedan in good condition with similar kilometres to yours would probably be advertised for around the $14,000 mark or even more. And that’s almost twice what it was worth just a year ago.

The prime suspect for this is a blocked vent that normally funnels condensation from the air-conditioning system to the outside of the car. If this vent becomes blocked or split, the condensation can enter the cabin. Other possibilities include a damaged heater matrix which can leak coolant into the cabin or a sunroof with blocked drainage channels that can also leak into the vehicle.

If you want the V8 then you should have it. The economy will be good enough on highway work but remember it will suck fuel down on short trips or if you uncork the performance away from the traffic lights.