$33,972 for '99 E55 with 17K miles - should I stop haggling and bite?

[ionstram]

I have been negotiating with an out-of-state independent dealer for several days on a silver '99 E55 with 17,000 miles he just purchased at auction. The salesman accidentally let it slip which auction and what day they purchased the car, so I slipped a couple bucks to a local dealer I know who looked the sale up on Manheim's website for me, and I found out that the dealer paid $29,500 for the car. After auction fees, wholesaler fee, and transport I estimate he's into the car for about $30,100. I am firm on $31,700 right now, and he is refusing to go below $33,972, claiming he has other bidders even higher than that price, but that since I called first on the car he's dealing with me. He also admitted that the trunk and bumper have been resprayed because of "a small dent in the trunk." I'm no stranger to buying late model high line used cars, nor to body work. I'll have the car inspected at a local Benz dealership and put on a frame machine to check for serious damage. The title, of course, is clean. I'm pretty risk tolerant for the right deal. What do you guys think about this value? For as low as $42K, I can get a low mileage 2000 E55 still under warranty locally in L.A. I figure with a warranty, inspection, plane ticket and transport fees this out-of-state car is going to run me about $37K total. And as for his mark-up, do you think $3,500 profit after all his costs is reasonable? My inner hard-bargaining ******* self recoils at the thought of putting that much profit into a used car dealer's pocket on a vehicle he's basically put no effort into selling. I'm thinking about half that is a good number, especially considering he's had no expenses for inventory (he just bought the car about 7 days ago), hardly any advertising fees, and no sales commissions since I'm dealing directly with the sales manager. Plus the car has been partially repainted and demand for luxury cars is soft right now. Having said that, this is just about the lowest priced E55 I've seen anywhere. Should I continue to try to grind him down or jump at this deal? Thanks for all opinions. Oh, and before you tell me to stay away from anything that's not Starmarked - run some carfaxes on Starmark cars, you'll be surprised. I know I was - I am buying this E55 for my dad, and he drove a 2000 E55 at Penske Motorcars Mercedes Benz last week. He loved it, but they wanted $54,000. I ran a carfax, and this thing has had four owners, originated in Florida, reported stolen in New York, recovered and re-titled as a theft recovery, then another owner in another state, then finally sold at auction to Penske. I ran a couple other VIN's on Starmarked E55's in the L.A. area and they also turned out to have been purchased from out-of-state dealer auctions. For a one-owner lease return cream puff I could see paying a Starmark premium, but not for an auction car with no books and records. I can buy a warranty myself (and have done so on a '97 540i - had no hassles getting things fixed at the local BMW dealership via the extended warranty company), I don't need to get it from a Benz dealer.

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[ionstram]

Oh, and I hope I don't come off as abrupt or rude. I'm just a bit cranky after negotiating back and forth via fax for three days with this dealership.

Thanks for your thoughts.

[kaneman]

As soft as this market is??? Why not meet him in the middle and if he doesn't go for that, move on?

[ionstram]

Thanks Kaneman,

I'll give him 24 hours and if he doesn't move, offer to meet him int he middle like you say.

That 03 E55 you have on order sounds yummy. =) Did you have to pay more than sticker for it?

[Dr Chill]

This car may be one to stay away from based on the damage the salesman admits to. Is the damge mentioned just the tip of the iceburg? Regardless, there are a lot of 2000 E55's out there and the market is very soft. Expect to be able to really deal since the price of gas is still going up and the W211's will be here momentarily.

"For 2000/2002, the new E55 AMG featured a new exterior appearance. The redesigned front apron enhanced performance by optimizing air intake and brake cooling. The front grille, rear apron, tail lamps, and side sills were also redesigned and serve to further accentuate the E55 AMG's sporty character" says the AMG website. They don't mention the seious tranny and ECU updates that make the 2000-2 much more desirable.

Keep searching and you will find one you'd want to own for many years still at a bargain price. I would then recommend purchasing an extended warranty if priced appropriately. I much prefer dealing with private party original owners since they can be sized up pretty quickly as honest or not. You must always be guided by the sentiment that a used car dealer is dishonest until proven otherwise.

[kaneman]

Nope, paying MSRP. I have a great relationship with the dealer and have been 'on the list' since October of '01 when I got my C32. On buying the car, it sounds like you've been around this block before and know what you're doing. I only hope the dealer isn't doing a snowjob on you and misrepresenting the car!

[Eurosport]

if i were you i couldn't really make a decision until you really inspect the car yourself and also on a frame machine, if there's no damage to the frame, and if they did a good job repairing what little of a dent, etc was there (no mismatching color, no out of line bumper, not obvious from the inside underneath the trunk carpet). also double check see if the airbags popped out, and if/when replaced have they been reactivated? sometimes people to save money would change the airbags but not reactivate em, so in case of another accident they would never pop out and cause major safety issues for you. I think the price is good, his markup is a little bit high but you don't find many E55's that are have been only lightly damaged, if you were to search for one all over at all auctions by the time you'd find one you'd probably waste over 3500 just in the time invested easily. I know this, I used to be in wrecked cars business for couple years. gl with your purchase either way you go. btw 99 e55 even though it doesn't have the 2000 front spoiler style, it's supposed to be faster, better gear ratio etc.

[ionstram]

Thanks for all the help guys, I'm going to search around for a good deal locally. If I can't find something in a few days I think I'll go check out that first car in person.