Yeah, R-B. Power to weight wise it is similar to an XR6 sedan, which definitely doesn't led itself to a low premium. I was pretty set on a Subaru wagon, and with the P plate rules in vic I am limited to the N/A cars - drove a 2.5l wagon and it just felt a bit lethargic. My parents car is a BA falcon wagon, and I wouldn't want anything much slower than that I don't think.
When my son bought his gen 3 liberty (2.5) @18 he was quoted $1800 so $1900 for the H6 sounds reasonable.
Bluebook value is listed as $6K-$9K. A benefit of having it insured (and in your own name) is you build up history so when you get the next, presumably more expensive car, the insurance will be more reasonable.
By the way most XR6 fords have the standard engine so power to weight is same as base model. Risk is in the assumed driver profile of someone to whom the car appearance (and improved handling) appeals to.
Hope you did your research on the Gen3 H6 issues and costs (and you are correct, the 2.5 certainly isnt spritely).
H6 engine is no where as reliable (and much more costly to repair) than 2.5 (Gen 4 6 cyl had many of those issues addressed). At least you had the sense to get a manual.
Hopefully you have a good 'un Shredden.
isn't 230,000km about 23 gearboxes and nearing it's 12 rear diff?
The manual gearbox's are actually very reliable (sensibly driven), as are to a lesser extent rear diff (get a bit noisy but work OK - like Commodore diffs).
However you forgot to mention center diffs (so note if gearbox gets noisy and stiff to shift=warning sign and needs looking at ASAP before BIG expense).