benz ever

What's the fair price for 2002 c240 with comfort package, sunroof package, also the bose with factory cd changer. I paid for sticker price of $35600 + 2 years extended warranty. ( I know stupid)

The local dealer only gives me $22000, the car is in mint condition, I have always take care of it like my baby.

what do you guys think?


Please help

amdeutsch

Here is what manheim says

Market Analysis APR 13, 2004 Feb. Jan. Oct. April 2003
Avg Price $21,225 $21,273 $21,656 $23,608 $23,608
Avg Miles 28,226 27,171 25,459 19,721 14,495

Projected Values April 2004 May 2004 April 2005
Condition Above Avg Below Avg Avg
Wholesale $22,596 $21,196 $19,796 $20,900 $19,450
Retail $24,896 $23,396 $21,896 $23,100 $21,500

02,MERCEDES-BENZ,C CLASS,4D SEDAN C240

HTH

jrct9454

Sounds right in the ballpark to me. I carry our '02 C240 [with less than 11k miles] on our personal books right now at $22.5k.

This illustrates pretty dramatically the cost of overpaying at retail, and then turning around and trying to sell in just a couple of model years. I've done it often enough myself, so I know what this means.

We paid $30k for our car in Sept 02, with met paint and the C2 package being the only options [MSRP $34.5k]. At its current resale, we've in effect paid about $7.5k for the first 19 months of use, or about $400 a month. That sounds right on target to me.

benz ever

It is good to know I am not alone in this. I just feel I have been ripped off. Paid 36k 2 years ago, only can get 22k now??. For crying out loud, my 1994 Nissan Altima only depreciate $2K in 4 years. What's up with MB? Or that is just the cost to own one of the best. By the way, thanks for all your comments. Keep up the good work. Have a nice day

Buellwinkle

European cars have fallen out of favor due to realibility concerns. Recent newspaper articles show that VW and MB have terrible customer loyalty losing repeat customers to Asian brands. The same thing happend to American cars in the 70's and 80's and now it will happen to European cars as people figure out that poor reliability is not fun.

As for me, I plan on keeping my cars until the wheels fall off or the warranty is up, which ever comes first. I couldn't imagine keeping an MB longer than that, can't afford the repair costs and shop time.

With the dollar slipping about 40% to the euro in the past year I don't expect prices to hold too long. If you hold on to your car another 2 years it may go up in value as European companies are forced to raise prices and sales will plummet making a used MB more valuable. Also by then they may actually improve reliability. For example, if a C240 goes up half the dollar's depreciation or 20% it would sell for 42K instead of 35K, so a used C240 would likely follow so a 22K car may be worth 26-27K.

LorinserCClass

C240 values just have tanked. I really am dissapointed, but what can u do? Its a car not an investment. Thats why I kept my C240 and always had a spare car(my ex Audi, VW and my current E Class)

czachari

Loses $10K / year. All 7-series do that.


CZ

benz ever

we all just took an expensive lesson, my roommate has a 2002 Hyundai, he paid 12k. It is still solid as a rock. His accent is also black, when we both park in our driveway, it is hard to tell the difference, WTF. Anway, is it worthy to keep it then? or should I still go for the highest retail? I really like the new E320. I figure since all cars depreciate, why not go all out? I lose about 10K/year anyway.


thanks

Buellwinkle

That's a defeatist attitude, "we all lose anyway". Get smart, find a local used car dealer that can get you into one of the Manheim auctions and pickup a 2003 E320 for low 30K range. Heck, those cars lose $20K the first year. Just have your cash ready because they don't take mastercard.

BTW, there's a reason that E320's are cheap, do your homework before you dive in, these are not pleasent cars to own or drive. They brake by wire is bizare with delays, the car is floaty and to boot, these cars are more troublesome that the troublesome C class. But they sure are pretty....