Love it or hate it, you cannot ignore it. Launched in Britain in October 2005, the Chrysler 300C looks as though it has driven straight out of The Sopranos with a body in the boot as standard.

It follows in a long line of American saloon cars that had tried, and failed, to crack the European market, and for many critics this latest attempt was likely to stand no better chance than its predecessors. Furthermore, they predicted, its residual values would be so poor that new car sales would all but dry up.

Two years on, however, and not only are new 300Cs still commanding list price but used examples are holding their value better than Mercedes, BMWs and Audis. The Chrysler 300C looks as though it’s the American saloon that finally won in the UK market.

Under its imposing bonnet, Chrysler offers the 300C with a choice of petrol or diesel power. The original entry level 3.5 litre V6 petrol model produces 250bhp, seemingly plenty for most cars but distinctly lacklustre when placed in the 4,000lb of the 300C, resulting in a 0-62mph time of more than 9sec.

A more attractive option would appear to be the 340bhp offered by the larger 5.7 litre V8. Performance is transformed with 0-62mph taking less than 6.5sec and a top speed that is artificially limited to 155mph. However, the downside of all this grunt comes at the petrol pumps: Chrysler quotes a combined cycle figure of 23.3mpg but many owners say that is optimistic.

If fuel economy doesn’t trouble you then consider the truly wild SRT8 version. Introduced in August 2006, this 300C comes with a 6.1 litre V8 engine producing 425bhp and 420 lb ft of torque, enough to reach 62mph from standstill in just 5sec and to propel the car to a top speed of 168mph.

Performance like that puts the SRT head to head with some elite competition; think BMW M5, Audi S6 and Mercedes E 55 AMG. But the Chrysler SRT8 delivers that performance at a very reasonable price: about £40,000 when new, a 2006 56 car could now be yours for just £30,000.

But by far the most sensible 300C to buy is the diesel version. Powered by a 3 litre V6 unit producing 218bhp, it manages to be quicker than the 3.5 litre petrol model thanks to around 50% more torque and is significantly better on fuel (34.9mpg in the combined cycle) than any of the other models. While the engine is not as hushed as that of, say, a BMW or Audi it is smooth and early indications suggest it will easily handle high mileages.

Equipment levels on all models are generous with the V6 petrol and diesel models enjoying cruise control, heated leather seats, xenon headlights, 18in alloy wheels, electric memory seats and parking sensors. The V8s include an electric sunroof, walnut trim, six-disc CD autochanger and satellite navigation.

Sit inside the 300C and you can’t help but be impressed by the space. Its wheelbase is on a par with the BMW 7-series, so there is no shortage of legroom. Head and shoulder room are also pretty good but adult rear passengers will be happier seated as a couple rather than a trio.

At night the soft green backlit dials evoke a distinctly retro feel to the 300C’s cabin while the switchgear is chunky and easy to operate. On the downside, the factory-fitted satellite navigation feels a little clunky compared with the touchscreen units found in some competitors.

Ride quality is okay but not great; the 300C struggles to suppress poor surfaces and potholes, with the car’s large, squashy seats doing much of the work. At low speed the power steering feels heavy, particularly on full lock, and the benefits of its heavier setting are more obvious only at higher speeds when it gives the driver extra feel of the road.

While the 300C battles to compete with Europe’s finest in terms of driving dynamics, its distinctive looks, strong residuals and reasonable ticket price make it an attractive proposition. If, like the US, we also enjoyed cut-price petrol, there’s a distinct possibility that a fair number of V8s would sit in executive car parks. As we don’t, it’s the diesel that remains the best bet if you fancy owning one of these intriguing vehicles.

Wheels 18in wheels standard on most models, with 20in rims on the SRT8

Grille Mesh grille is a popular option that enhances the car’s visual similarities to a baby Bentley

Boot space 504 litre boot offers plenty of space for luggage, but boot lid is heavy to lift and sill is high

Gearbox Five-speed auto gearbox standard on all UK cars

Service interval 12,500 miles on all models except the high-performance V8s, which require a dealer visit every 7,500 miles

Security Sophisticated alarm and immobiliser as standard

Lights Xenon headlights as standard

Turning circle Poor turning circle can make the 300C tricky in tight spots

Safety No Euro NCAP score for the 300C but owners will be reassured by front and side airbags together with traction control and powerful antilock braking with brake assist as standard

Vital statistics Values

Model Chrysler 300C V6 CRD saloon

Engine 2987cc, six cylinders

Power 218bhp

Transmission Five-speed automatic

Fuel 34.9mpg (combined cycle)

Acceleration 0-62mph: 7.6sec

Top speed 143mph

Mileage 10,000 20,000 40,000

2005 55 Trade £18,950 £18,000 £16,200

Retail £21,500 £20,500 £18,850

2006 06 Trade £20,000 £19,000 £17,150

Retail £22,750 £21,750 £19,850

2007 07 Trade £21,850 £20,750 £18,700

Retail £24,500 £23,500 £21,500

The one to buy

A 2006 06 Chrysler 300C V6 CRD automatic saloon with 20,000 miles on the clock. Pay £21,750 at a dealer or £20,750 privately

Or for similar money

2004 54 VW Phaeton 3.0 V6 TDI auto

2005 05 Mercedes E 280 CDI Elegance auto

2005 05 BMW 530d SE auto

2005 55 Audi A6 SE 2.7 TDI quattro auto

2006 06 Lexus IS 220d SEL manual