Yeah, that dealer is on crack. In this period of exorbitant gas prices, a 15-mpg SUV like the VX is a tough sell.

As for depreciation, I bought mine in Dec '04, and $12,500 was the approximate KBB value. Less than a year later, that number is down almost $3000. That's a LOT of depreciation for a used vehicle.

However, if you are just talking in terms of "what does a 4-year old VX with 50k on it go for today compared to last year" there may not have been much depreciation.