Is this a good price for a 2011 GL450?

ngoan · 07-04-2012, 11:57 AM

Hello everyone! Great forum, I've been lurking for a while but now I have a chance to ask a question.

A situation has come up where I can take over payments on a 2011 GL450 (prem. package 2, exterior package) with 40K miles. Total purchase price was around $83k out the door. Remaining balance is $45k, ($1100/month x 45 payments). The vehicle belongs to a family member, so I know the history of it and it is in pristine condition.

Is this a good price for a 2011? Any comments would be appreciated, thank you!

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jcbutta · 07-04-2012, 09:25 PM

thats a hell of alot of miles for a 2011.

amaycg · 07-04-2012, 09:31 PM

These cars are meant to be driven up to 200,000 miles plus

My 2010 diesel has 60K miles on it

BlownV8 · 07-04-2012, 10:37 PM

Interested rate is too high. Purchase price seems OK but you can finance that loan for 4% and bring the payments down to $1,016.06/mth. I don't think you can take over payments without a bill of sale where you will have to pay sales tax.

ngoan · 07-05-2012, 01:21 AM

Quote:

Originally Posted by BlownV8

Interested rate is too high. Purchase price seems OK but you can finance that loan for 4% and bring the payments down to $1,016.06/mth. I don't think you can take over payments without a bill of sale where you will have to pay sales tax.

Correction on the price. The out the door price is $83K. The loan is at 4% now. The purchase price now reflects the $1100 a month.

I can take over payments as my family member will just hang on to the title without having to get a new loan.

BlownV8 · 07-05-2012, 02:02 AM

In essence, you are renting the car for $1,100 per month? Will you be required to perform maintenance on a car that you will not own?

ngoan · 07-05-2012, 02:05 AM

Quote:

Originally Posted by BlownV8

In essence, you are renting the car for $1,100 per month? Will you be required to perform maintenance on a car that you will not own?

I will own the vehicle. But technically, I will not be the registered owner until the loan is payed off. But I'm not too worried about that part.

aggst1 · 07-05-2012, 07:46 AM

I think the price is fair. I bought a same year fully equipped vehicle back in March (six month old car from manufactured day ) with 6K miles for $65K. The original sticker price was $76K. Yes it has more miles than normal for a one year old car but you know the previous owner and their driving habits. Was it maintained according to spec? At this mileage the car needed more than oil changes. If yes then it is a fair deal. If not, go to any dealer and get a CPO vehicle with half the miles for about a little more money and in your name. The "little more" money is exactly the dealer profit which varies but it is a good bet it will be $3-4K more in my experience.

jcbutta · 07-05-2012, 08:28 AM

Quote:

Originally Posted by amaycg

These cars are meant to be driven up to 200,000 miles plus

My 2010 diesel has 60K miles on it

But he doesnt have a diesel. he has a 450.

JimBarnhart · 07-05-2012, 10:28 AM

The price seems decent to me.

I know it's none of our business, but how are you going to handle insurance? Since the title is in the family member's name the insurance would have to be in his/her name as well, especially since it has a lien against it. That would mean he'd own the liability. I'd never want that even if it was family.

BlownV8 · 07-05-2012, 11:46 AM

In addition, if something happens to the family member, it will go to their estate. If you are making the payments, it needs to be in your name. There are just too man downsides to this deal even if it is a family member.

The only benifit is if you are unable to get a loan due to credit, job status, or age. But, you are still paying for a car in someone elses name. I think you will end up paying more in gift taxes when it is put in your name after you pay it off than if you just purchased it from the family member.

jcbutta · 07-05-2012, 04:55 PM

I would definately purchase and extended warranty on the vehicle since the original factory warranty will expire at 50k miles.

ngoan · 07-16-2012, 12:25 AM

Thanks for the reply guys. Thanks for putting everything into perspective. I will be selling the vehicle. It is currently in my dad's name, but I have it in my possession here in Orange County.

Here is the for sale link if anyone is interested: FS: 2011 GL450

hubert · 07-16-2012, 02:02 AM

Looks good, you should jump on it...

BlownV8 · 07-16-2012, 09:34 PM

Quote:

Originally Posted by ngoan

Hello everyone, this was my dad's car. He cannot afford to drive the vehicle anymore ......... I have a 2008 Nissan Armada and to be honest, I prefer the Armada over the GL450. The GL is a nice ride, but there are too many little things about it that makes me not like it.

How not to sell a car:

Tell everyone that you can't afford it. Anyone interested many will think you also can't afford to maintain the car properly.

Tell your prospective buyer that you like your other SUV better and there are things that make you not like the GL.

Seriously, edit your for sale posting and take away any negatives.

ngoan · 07-16-2012, 10:04 PM

Quote:

Originally Posted by BlownV8

How not to sell a car:

Tell everyone that you can't afford it. Anyone interested many will think you also can't afford to maintain the car properly.

Tell your prospective buyer that you like your other SUV better and there are things that make you not like the GL.

Seriously, edit your for sale posting and take away any negatives.

It is what it is. I'm not going to skew any facts. Thanks for the input, though.

07-04-2012, 09:31 PM	#3
amaycg Super Member Garage is empty, add now Join Date: Jun 2009 Posts: 846 Drives: 2008 Mercedes Benz S550, 2011 E350, 2013 SLK350	These cars are meant to be driven up to 200,000 miles plus My 2010 diesel has 60K miles on it __________________ Vehicles I Drive: 1) 2008 S550 - Capri Blue/Cashmere - Package 3, Premium Leather, Distronic PLUS, Rear Seat Package, AMG Sport Package, Wood/Leather Wheel, Rear Side Window Blinds, Panorama Roof, Active Body Control 2) 2011 E350 Sport - Black/Almond w/Burl Walnut Trim - Premium 1 and Panorama Roof 3) 2013 SLK350 - Black/Black - Black Ash Wood, Sport Package, Multimedia Package, Lighting Package, Pano Roof, Rear Spoiler, Chrome Hood Fins, Keyless-Go

07-05-2012, 07:46 AM	#8
aggst1 Super Member Garage is empty, add now Join Date: Dec 2005 Location: Pennsylvania, USA Posts: 547 Drives: 2011 GL450, '06 R500 traded, '08 ML350 sold	I think the price is fair. I bought a same year fully equipped vehicle back in March (six month old car from manufactured day ) with 6K miles for $65K. The original sticker price was $76K. Yes it has more miles than normal for a one year old car but you know the previous owner and their driving habits. Was it maintained according to spec? At this mileage the car needed more than oil changes. If yes then it is a fair deal. If not, go to any dealer and get a CPO vehicle with half the miles for about a little more money and in your name. The "little more" money is exactly the dealer profit which varies but it is a good bet it will be $3-4K more in my experience. Last edited by aggst1; 07-05-2012 at 07:50 AM.

07-05-2012, 10:28 AM	#10
JimBarnhart Super Member Garage is empty, add now Join Date: Nov 2007 Location: Minnesota Posts: 807 Drives: 2013 GL350, was 2007 GL450	The price seems decent to me. I know it's none of our business, but how are you going to handle insurance? Since the title is in the family member's name the insurance would have to be in his/her name as well, especially since it has a lien against it. That would mean he'd own the liability. I'd never want that even if it was family. __________________ Jim Barnhart 2013 GL350 Obsidian Black/Black Leather

07-16-2012, 02:02 AM	#14
hubert MBWorld Fanatic! Garage is empty, add now Join Date: Dec 2001 Location: New York Posts: 1,600 Drives: 11'GL350 Bluetec,10'Lexus IS250 AWD	Looks good, you should jump on it... __________________ HUBERT 2011 GL350 2010 Lexus IS250 AWD 99 E430 Kleemann (SOLD) 2006 ML350 (Lease Over Great 2 Years) 2008 Nissan Pathfinder SE 2006 Big Bear Sled Chopper(all custom) 2010 CanAm Outlander 800XTP 2008 Yamaha YFZ450 GYTR(toy)

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07-04-2012, 09:25 PM	#2
jcbutta Member Garage is empty, add now Join Date: Sep 2010 Location: Florida Posts: 170 Drives: 2011 GL450 P2, Appearance Pkg, Leather. 2012 C250, P1, Sport, AMG Wheels, Panorama Sunroof.	thats a hell of alot of miles for a 2011.

07-04-2012, 10:37 PM	#4
BlownV8 MBWorld Fanatic! Garage is empty, add now Join Date: Aug 2003 Location: In my garage Posts: 2,555 Drives: E55, Renntech CL600(sold), GL450	Interested rate is too high. Purchase price seems OK but you can finance that loan for 4% and bring the payments down to $1,016.06/mth. I don't think you can take over payments without a bill of sale where you will have to pay sales tax.

07-05-2012, 02:02 AM	#6
BlownV8 MBWorld Fanatic! Garage is empty, add now Join Date: Aug 2003 Location: In my garage Posts: 2,555 Drives: E55, Renntech CL600(sold), GL450	In essence, you are renting the car for $1,100 per month? Will you be required to perform maintenance on a car that you will not own?

07-05-2012, 11:46 AM	#11
BlownV8 MBWorld Fanatic! Garage is empty, add now Join Date: Aug 2003 Location: In my garage Posts: 2,555 Drives: E55, Renntech CL600(sold), GL450	In addition, if something happens to the family member, it will go to their estate. If you are making the payments, it needs to be in your name. There are just too man downsides to this deal even if it is a family member. The only benifit is if you are unable to get a loan due to credit, job status, or age. But, you are still paying for a car in someone elses name. I think you will end up paying more in gift taxes when it is put in your name after you pay it off than if you just purchased it from the family member.

07-05-2012, 04:55 PM	#12
jcbutta Member Garage is empty, add now Join Date: Sep 2010 Location: Florida Posts: 170 Drives: 2011 GL450 P2, Appearance Pkg, Leather. 2012 C250, P1, Sport, AMG Wheels, Panorama Sunroof.	I would definately purchase and extended warranty on the vehicle since the original factory warranty will expire at 50k miles.

07-16-2012, 12:25 AM	#13
ngoan Newbie Garage is empty, add now Join Date: Jul 2012 Posts: 9 Drives: 2011	Thanks for the reply guys. Thanks for putting everything into perspective. I will be selling the vehicle. It is currently in my dad's name, but I have it in my possession here in Orange County. Here is the for sale link if anyone is interested: FS: 2011 GL450

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07-16-2012, 10:04 PM