CLK 55 value
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clk 55
CLK 55 value
I would like your opinions on why the 55 coupe has fallen so far in value. I know the economy but the 430 has held it value much better. Using Starmark values the difference is now less than 10K.
Based on an attempted trade for S430 at several dealers, the 55 has lost at least 22% in its first year.
I had several dealers say they expect the value to recover in the spring. After 30 years of buying cars I have never seen that scenerio but..
MB has stepped up in the past to settle on serious value losses in models. I think recently the SL model.
While I really enjoy my 55, like most owners I didn't expect a drastic reduction on a limited production car. Unfortunately I paid cash thinking I was safe. I guess I am just concerned that financially , my opinions are not what I expected.
I would appreciate your thoughts on why the hit and is their potential recovery.
Thanks
Based on an attempted trade for S430 at several dealers, the 55 has lost at least 22% in its first year.
I had several dealers say they expect the value to recover in the spring. After 30 years of buying cars I have never seen that scenerio but..
MB has stepped up in the past to settle on serious value losses in models. I think recently the SL model.
While I really enjoy my 55, like most owners I didn't expect a drastic reduction on a limited production car. Unfortunately I paid cash thinking I was safe. I guess I am just concerned that financially , my opinions are not what I expected.
I would appreciate your thoughts on why the hit and is their potential recovery.
Thanks
Member
Joined: Nov 2001
Posts: 191
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From: Dallas
1999 E 320 (sold), 2015 AUdi S5 (sold) 2005 CLK55 Cab, 2016 Honda Pilot Elite, 2011 Jaguar XF
Personally, I think the car didin't quite have the look of exclusivity that one would expect of a limited production car. It's not as "limited" as previous AMG editions. From the exterior, the 430 is a better looking car I would say. IMO.
MB gave both cars the same ground effects package and wheel size. That's a no-no and they should know better.
of course people know the new model is coming out soon, and the higher the MSRP, the more it's going to drop percentage-wise.
Lastly...it's the economy, stupid
I would think MB would give a voucher toward future purchase if you complain enough...they did on the SL, like you said.
MB gave both cars the same ground effects package and wheel size. That's a no-no and they should know better.
of course people know the new model is coming out soon, and the higher the MSRP, the more it's going to drop percentage-wise.
Lastly...it's the economy, stupid
I would think MB would give a voucher toward future purchase if you complain enough...they did on the SL, like you said.
MBWorld Fanatic!
Joined: Nov 2001
Posts: 2,065
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From: Florida
2002 CLK 55 AMG Coupe ;)
I do not see the value drop significantly here in S. Florida.
If I punch in my ZIP code, Edmunds lists the 2002 CLK 55 AMG @ $71,000 as "True Market Value," $3,000 over MSRP which is just over $69,000.
http://www.edmunds.com/new/2002/merc...5a/prices.html
Which price trend the CLK 55 will take on in the future? There are too many rapidly changing factors, most of all a global recession.
My prediction has always been 100% correct with the stockmarket: IT WILL FLUCTUATE! There are just too many imponderables.
Perhaps your region is more adversely affected by the economy and other factors.
Jackr: Where - in which city - do YOU live?
If I punch in my ZIP code, Edmunds lists the 2002 CLK 55 AMG @ $71,000 as "True Market Value," $3,000 over MSRP which is just over $69,000.
http://www.edmunds.com/new/2002/merc...5a/prices.html
Which price trend the CLK 55 will take on in the future? There are too many rapidly changing factors, most of all a global recession.
My prediction has always been 100% correct with the stockmarket: IT WILL FLUCTUATE! There are just too many imponderables.
Perhaps your region is more adversely affected by the economy and other factors.
Jackr: Where - in which city - do YOU live?
Senior Member
Joined: Nov 2001
Posts: 454
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From: Bay area
'01 CLK 55
I'm seeing asking prices in my area from $62,500 to $69,500 for '01 CLK55s -AND- E55s depending on options, with those equiped with COMMAND and/or voice activated phone at the higher end. This is in the San francisco Bay area. At this point in time, ALL luxury goods are suffering from a soft market with falling valuations. I'm beginning to see the same happening in the real estate market also. Nothing is invulnerable at the moment. Those who purchased high priced items and over extended themselves, (aka weak holders) are first to flood the market with low priced inventory affecting valuation for the rest of us. I remember seeing someone pay the asking price of $99,999 for a unoptioned '01 CLK 55 in November '00; I wonder how he feels now? (If he still owns it) I also have a friend who over extended himself and firesaled his new '01 CLK430 (<3000 miles) back to the dealer for $45,000 ....he decided to head back to his home country as he lost his job with no viable options in the near term. The introduction of the new CLK has less bearing on this phenonemon than many think.
Sure, I'm not thrilled with current valuations of my CLK55 at the moment; Fortunately, I paid cash, can comfortably afford it, enjoy the car and choose not to allow the Falling $$$ factor diminish my pleasure. On the other hand, If I was forced to bail......Hopefully many of you are not aboard this boat. I now end this lengthy diatribe by shrugging and thinking "oh well, s#it happens"....Enjoy and Have a great new year.
Sure, I'm not thrilled with current valuations of my CLK55 at the moment; Fortunately, I paid cash, can comfortably afford it, enjoy the car and choose not to allow the Falling $$$ factor diminish my pleasure. On the other hand, If I was forced to bail......Hopefully many of you are not aboard this boat. I now end this lengthy diatribe by shrugging and thinking "oh well, s#it happens"....Enjoy and Have a great new year.
Newbie
Joined: Nov 2001
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From: Hong Kong
CLK 230K Cabriolet 2000
Here in Hong Kong we are seeing something like the same problem.
I paid the equivalent of US$77,000 for my Sept. 2000 CLK 230K Cab, now the list price is equivalent to US$59,000. Yes, our prices are way higher than in the U.S. as the Government adds on huge taxes. I did not expect such a price reduction, now the resale value of my car is only the equivalent of US$45,000 - a loss of US$32,000 in 15 months.
The Hong Kong dollar is pegged to the U.S. dollar, so the only factors can be the Deutschmark and, maybe, the weakness of the local economy, although, it has been weak since 1997. However, any change in the Deutschmark should be reflected in U.S. prices also, which does not seem to be happening to such a degree.
Graham
I paid the equivalent of US$77,000 for my Sept. 2000 CLK 230K Cab, now the list price is equivalent to US$59,000. Yes, our prices are way higher than in the U.S. as the Government adds on huge taxes. I did not expect such a price reduction, now the resale value of my car is only the equivalent of US$45,000 - a loss of US$32,000 in 15 months.
The Hong Kong dollar is pegged to the U.S. dollar, so the only factors can be the Deutschmark and, maybe, the weakness of the local economy, although, it has been weak since 1997. However, any change in the Deutschmark should be reflected in U.S. prices also, which does not seem to be happening to such a degree.
Graham
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And what would you predict CLK55 resale value would be if the NASDAQ were sitting at 6000 right now, unemployment at 3%, and average cab drivers were debating the relative merits of paying 3 figures per share for software stocks?
The CLK55 arrived soon after the US economy peaked.
Value inflation was at maximum when most people placed their orders, and still near max whan most took delivery.
Car values typically mirror trends in the economy/markets.
The CLK55 arrived soon after the US economy peaked.
Value inflation was at maximum when most people placed their orders, and still near max whan most took delivery.
Car values typically mirror trends in the economy/markets.
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MBWorld Fanatic!
Joined: Nov 2001
Posts: 2,065
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From: Florida
2002 CLK 55 AMG Coupe ;)
amg55 wrote
...well, would'nt that be nice.
For myself, value of a CLK would be of no concern, because I would be driving a CL55 with back massage...
And what would you predict CLK55 resale value would be if the NASDAQ were sitting at 6000 right now...
For myself, value of a CLK would be of no concern, because I would be driving a CL55 with back massage...
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Almost a Member!
Joined: Nov 2001
Posts: 38
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From: Northern California
2001 CLK 320 convertible
CLK55 Value
I think the CLK is a great "compromise" car. It's not a sports car, and it's not a luxury car. Consider it one of those, and it's either too small or not sporty enough.
The 320 cab is a pretty fair value for the money. At $50K that's the price of a new V-6 Honda (let's say $25K) plus $12.5K for M-B engineering (we can argue about quality later) and $12.5K for the convertible and exclusivity, and you have (God Bless Woody Allen) this week's rationalization.
The 55, however, is $70K for the coupe and $80K for the convertible. The coupe competes with their own S430, and the convertible compares with the Porsche 911 cabriolet. Perhaps the $20K for the engine upgrade just isn't worth it.
And maybe the 55, unfortunately, is finding its own value equilibrium that's lower than sticker.
Just my 2 cents...
The 320 cab is a pretty fair value for the money. At $50K that's the price of a new V-6 Honda (let's say $25K) plus $12.5K for M-B engineering (we can argue about quality later) and $12.5K for the convertible and exclusivity, and you have (God Bless Woody Allen) this week's rationalization.
The 55, however, is $70K for the coupe and $80K for the convertible. The coupe competes with their own S430, and the convertible compares with the Porsche 911 cabriolet. Perhaps the $20K for the engine upgrade just isn't worth it.
And maybe the 55, unfortunately, is finding its own value equilibrium that's lower than sticker.
Just my 2 cents...
MBWorld Fanatic!
Joined: Nov 2001
Posts: 2,065
Likes: 1
From: Florida
2002 CLK 55 AMG Coupe ;)
Ron wrote
Ron:
These are misstatements, particularly the last sentence. Take a look again what exactly the $18,000 AMG package offers. tnx
The 55, however, is $70K for the coupe and $80K for the convertible. The coupe competes with their own S430, and the convertible compares with the Porsche 911 cabriolet. Perhaps the $20K for the engine upgrade just isn't worth it.
These are misstatements, particularly the last sentence. Take a look again what exactly the $18,000 AMG package offers. tnx
Almost a Member!
Joined: Nov 2001
Posts: 38
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From: Northern California
2001 CLK 320 convertible
CLK55 Value
Oh, I know I was oversimplifying my response (I am aware of the suspension and wheel and gear ratio and 0-60 speed stuff and all that...).
I was just saying that for $80,000 you can buy a lot of car.
Nuff said...
Cheers.
I was just saying that for $80,000 you can buy a lot of car.
Nuff said...
Cheers.
Senior Member
Joined: Nov 2001
Posts: 454
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From: Bay area
'01 CLK 55
News flash! This just in! Got word from a very reliable source that MBZ has just ENDED production of the '02 CLK 55s for the '02 model year, my friend(sales mgr, btw) will be receiving only three more and that's it till the next AMG CLK which he expects in two years.(MY '04) This info is coming from one of the largest MBZ dealers in the S.F. Bay area. Have faith, guys...This may help our cause and firm up the prices after the "weaklings" bail. Ask around and confirm with other dealers to confirm. I would like to see if you hear the same comment. Keep us posted.
Super Member
Joined: Dec 2001
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I'm having a hard time seeing how the CLK55 coupe competes with the S430. (S430 is a relatively weak performer and has very limited sporting capability at all).
And an equally difficult time with the CLK55 cab comparison with the 911. (The 911 is superior in almost every way).
And an equally difficult time with the CLK55 cab comparison with the 911. (The 911 is superior in almost every way).
