Why is my car not worth anything?

One of the reasons why the PT's value dropped so quickly is because Chrysler will stop making them this year.

"Sales of the PT dropped by 49% last year, with only 50,910 vehicles leaving dealer lots. That's down from the PT's peak when Chrysler was able to offload 144,717 models in 2001. The PT's demise doesn't come as a surprise, particularly considering that Chrysler's owner, Cerberus Capital Management, has slashed six other models from the automaker's lineup since it took control in August 2007."
http://www.autoblog.com/2009/01/15/chrysler-pt-cruiser-production-to-end-this-summer
Plus, Chrysler isn't doing very well.
The biggest mistake was in not making any major improvements since it's inception. For the most part it remained unchanged since 2001.

the economy got worse and nobody's buying anything- that's probably what brought the value of your car down... :(

You're lucky it's worth more than you owe. The PT Cruiser is a relatively undesirable used car, and depreciates quickly.

Those cars don't have a very good track record which turns off a lot of used car buyers. I think $5000-6000 sounds about right. I would sell it straightaway and get out of that loan! To owe almost $5k on a 5 year old PT is not a good situation!

Cars depreciate significantly the first year (or years) you own them.

Maybe the demand of PT cruiser has gone down, or a newer model came out

Not really. The entire car is nothing but rust. Even the floor pans and frames are rusted. On top of that, they have sever damage (caved in hoods, tops, or major body panels) and the engines are missing. You would be better off buying a kit and building an old car from replica parts if that is your goal. You wouldn't be able to salvage enough on any of these cars to call it original. If someone is trying to sell these, they are gonna find that they will most likely have to pay someone to haul them off.

The depreciation of cars is usually drastically high nowadays. Its value can be reduced by half after it is driven once. So it is not surprised to see its value from decreasing. Even if you sell your car without any lost, you need to purchase another car again. And once again, next year or so, you may find its value depreciates drastically. However, the case may be a bit different if you buy a "popular" car, meaning a model of car that may persist in usage for certain years, such as cars made by ferrari or aston martin.

Sadly PT Cruiser's are a dime a dozen, they are in just about every used car lot in the country. On top of that for one reason to the next Chrysler is currently one of the fastest depreciating vechiles.

It is Natural that cars depreciate. Cars are not known as an item that holds up their value however some do it better than others.

To avoid this most people at least attempt to trade there car in for a new on before the reach the point of negative equity (the point when you owe more than it worth) otherwise you have a really hard time getting a good deal on a new car.

my advice to you is to trade your car in ASAP. Before you owe more than it's worth.

This is a common problem people have.

Good luck!

you answered your own question.. its a chrysler PT Cruiser!! Sorry, but its the truth. good luck!

About car not worth can be read in
http://www.car.happyhost.org/?q=car%20not%20worth

Don't worry, like oil and housing it will go back up. My IROC Z-28 was worth $700 at one time. Eight years later I sold it for $2300