how much is depreciation
i have had my c240 for 6 monthes
14 Kilometres i think i bought it for 44 Grand
including taxes...

how much do you guys think my cars worth now?

 

Less then 44 grand.

{Sorry just had to}

Erik

 

Forget the GST and PST - these are gone forever. So you paid about $38450 for the car. I'd estimate that it's worth between 80% and 85% of that now. Say $32,000.

So you'd lose the $5550 in taxes off the top plus possibly another maybe $6000 in depreciation. That's a heavy hit for six months of car usage. Nearly $2000 per month. Maybe you should have bought something cheaper like a CL 600

Why would you want to sell it anyway?

 

You'd also slose the freight/delivery and other taxes on a new car (cause MB doesn't capitalize the delivery into the vehicle price).

Just did a search on www.autotrader.ca and there is a 2002 C240 Classic with 12k on it going for $38K at a dealership. There are also a few 2001 C240s with 40K on them going for $36K, but these are also at dealerships. Therefore I'd have to agree, your car is worth $32-35K unless you have really good luck selling it yourself, trade in you're going to get screwed.

 

Why wouldn't MB capitalize the cost of delivery and freight? It should be part of the acquisition cost.

 

I'm not sure what you mean by "acquisition cost", but if you look at your bill of sale, the car and cost of deliver/frieght are separated, thus its just another fee like all the taxes you pay to pickup the car, and its a lot compared to domestics, $1400 CND flushed down the toilet the second you drive off the lot.

 

Just remember that if you are buying a new car you don't loose all the taxes on the old one. In case of a trade in, you only pay taxes on the difference. In case of a private sale, you can ask the dealer of the new car you are about to purchase to do a convenience deal and put your old car through the dealer as if it was a trade flipping the car to the new owner immediately and you still save all the taxes on the value of the old car.

 

thanks for the info

 

Good idea! But will dealers want some additional profit for doing this for you?

 

In my experience not. This is a courtesy and encourages the consumer to do the deal. I have done this several times at no additional cost to me.

 

Nice. Gonna try it next time I switch cars.

 

I saved big big bucks when I bought my Benz, I am the second owner however the vehicle only had less than two thousand miles on it and it was only a few months old. The dealer had all of the paperwork on it and the original owner bought it new at that dealership. I was lucky to find out that the owner was old (from another source) and not some youngster out tearing up the vehicle before I bought it. I did make out on that deal.