8 years old car, more than 140K Km,so only can be used for about 3 years/60k Km(or spend a lot of money to let it run 6 years/120k Km).
For that old car annual depreciation sould be no more than $1500, with a remain value $1500 after 3 years, the maximum value of this car can not exceed 3*1500+1500=6000.
That is the maximum value, based on the presupposition of great condition, no big isuues.