5439cc

I just got various numbers from different dealerships and the news is not good - my 02 CLK55 ///AMG which is fully loaded (44K) miles is worth on 34 - 37 K Are you kidding me, in less than two years the car drops 54% - What a DAM joke, AMG my *** ! If this were a 996 or M5 it would hold 72% - I can't believe I am losing some much equity out of this - I may have no other choice but to hold on to this, until the end of my contract. Anyone interested in taking over my payments ($859.00) for another 15 months. Being a Car Enthusiasts is getting harder with every deal. When I use to hop from Porsche to Porsche, I would have an average lose of a couple of grand not 15K.

sax maniac

I think (*HOPE*) that part of this is just the general economic landscape. For the most part not many people are buying high-end cars. Hell, they're not buying low end cars. Ford is offering special financing and deals on their "all-new" F0150 for crying out loud!

When I test drove an '02 996 cab recently it was priced at ~$70k (asking price) parked right down the row from a new '03 that was @ $95k. I don't think it's just the AMG owners "taking it in the ***" right now on resale. I do think that the W208's issue is made worse by the appearance of the W209. And if the 997 does indeed pop out as an '05 model the hit on '03 996s will be even worse.

I know that "you have to pay to play"...but DAYUM.

x15jq

If you have a cabriolet, the resale really stays high.

I have a 99 Clk 320 Cabrio, sticker was 47100 at retail tiome of purchase, it is still worth 36000 according to the kbb with the 24000 miles it has.

SaxManiac

I don't want to burst your bubble....but dealers aren't offering KBB numbers in trade. kbb says hy W208 CLK55 is worth ~$43k. I got offered between $34k & $37k when I was looking at other cars.

I owe less than $10k so I figure I'll just pay it off and sit on it. Sad thing is I had originally leased it. Lease was supposed to be up in December '04 with a residual of ~$46k. Heh. Guess their estimate was a little off on that residual, eh?

E55AMG99

$37K does seem kinda low but thats more likely all you'll be able to get for it. There were 2 CLK55 coupes (01 and 02) that recently sold at Smythe for $41K and 47K. Both had about 30,000 miles.

A cabrio just like mine (00 with 22K mi.)is being offered at $49,500

DMW

I agree that I think it has a little to do with the general economy right now, and people foregoing luxury items, in addition to January not being the best time to sell a car (I'm trying to sell mine). Your dealer would probably turn around and want 50 for it.

David

RobbieS

The problem might also be fueled by the thing we are doing right now: communicating on the internet.

Before a couple of years ago, most people had to purchase their cars locally, so depending on the locality, the seller could make a real homerun.

Now, if I find a car that's too expensive in Memphis, I'm almost positive that I can find the same car for a cheaper price in, say, Texas.

Therefore, the price just keeps getting driven down to where no one seems to want to pay true value for a car. They just want a super deal. If you can get a $10K discount on a car in Montana, who cares about the $500 shipping fee.

I just went through this whole ordeal when I tried to sell my last car. I "wanted too much" I was told, despite the fact I was asking thousands less than KBB.

AMG///Merc

Obviously, all cars short of maybe a Ferrari Enzo or Carrera GT (Greatest car in the world!), are going to depreciate, but some of these numbers are outrageous. An E55 demo became available at my local Benz dealer, and I had my 03 209 CLK55 appraised. My CLK is flawless. It's pewter with every option short of Distronic cruise control, and it has 7000 miles. It MSRP'ed at $79075, and I figured it would be appraised in the mid 60's, figuring on a $15000 depreciation. I thought that was realistic. If only it were so... They apprasied my nearly $80 grand CLK at a paltry $53000! That's over a $26000 loss over 7 months, or a little over a third of MSRP! I couldn't believe it, and needless to say, I was pretty bummed out. The really sad thing is that I don't think the dealer was being unrealistic. I suspect that's what they're going for. I think there are three reasons for the huge loss, in the following order of signifigance.

For one, I'm sure some of it is due to the recent decline in Mercedes Benz overall quality and perceived value. Go figure, I buy my first Mercedes benz right as they go into a full throttle nose dive, placing lower than Chevrolet on JD Powers quality list...

Secondly, I believe the E55 is killing the CLK55 in terms of desireability and market value. If the CLK had the Kompressor motor and the E55's wheel's and brakes, I'd probably be able to sell it for close to what I paid for it!

Lastly is the luxury car market, both in terms of low sales and a plethora of high quality choices available (There are sooo many awesome cars available now, and we are in the best automobile market ever, imho).

Well, that's my two cents anyway. I suffer from the "Latest, Greatest Syndrome", in that it seems like whenever I buy a car, a newer, better model comes out of nowhere. The upcoming SLK55 is a perfect example. Same motor, less weight, 6 piston brakes with composite rotors, 7-speed transmission, 18" wheels, and it's a convertible to boot! Had I known that car was coming, I definitely would have waited for it. Christ on a pogo-stick... That car is going to be awesome!! A freaking mini-SLR McLaren. I figure that at my current rate of depreciation, I'll get more for trading in my toliet seat cover than I will for my freaking car... >heavy sigh<, I'm going to bed...




Best regards,
Matt

burat

it's not worth selling the car. The depreciation is unbelievable. Keep the car and make it a daily driver. The motor and transmission should last for a long time. My prediction with all of the high powered cars is that the 70's era will be repeated. Hybrid cars and trucks are coming which will be vehicle of the future. Think of this hybrid cars to be the 4 cylinder cars of the 70's. The V8 muscle cars have also depreciated during the gas crisis of the 70's. No one wants them. But now they are being auctioned Barrett/Jackson. I'm not saying that our AMGs will be worth something in the future but those guys in the 70s thought their Plymouth SS Barracuda wasn't worthed.

5439cc

A 996 With Low Mileage Hold it's value at 69% in 18 months, and if the 996 is special like a TARGA or C2S or C4S then it holds 73% -NOW THAT'S WHAT I'm TALKING ABOUT ! I still can't believe the way the CLK55 has drop - it's only good for the next owner, he/she will be getting a GEM for the $.

Prasith32

I am sorry but I don't see how porsche depreciation is any better than ours.

I have an 03 c32 amg which I originally bought for 55k. It is about 16 months old and has 18k miles.

I can get 37-38k easily from a DEALER (aka STEALER). That is 69% depreciation right there.

If i sold it private party I can get 40k to almost 42k. That is anywhere from 73% to 75%.

I am sorry but I can't see how porsche depreciates any better than our AMG cars. Granted even a base porsche model is considered special and I will agree that they hold value better than a normal benz. However compared to AMG i just don't see the numbers.

One of the reason the w208 has suffered from a higher depreciation is because of the new model intro. I actually feel that it will lose less as time goes on because the w208 is considered a classic by many and the best clk made.

The porsche will do the same thing when the 997 comes out. That is when I plan on springing for a low mileage previous year turbo.

Chappy

High mileage may have killed your resale/trade as well. Most of the autotrader ads within 200 miles of me are advertising 2002 CLK55 with 8-15K miles in the $50,000+ range.

No matter what kind of car you have (Enzo and the like excepted), you will get screwed on a dealer trade-in.

Now do my math....I paid $67K for mine with a cd changer (no comand). I have less than 10K miles and factory extended 7yr./100K warranty. If I sold privately, I may do okay ($50K+). Still a hit, but not the kind of depreciation lost on all deals.

Flipping new cars every 1-3 years is expensive

DarrenCT

about 3 months ago i paid 42k for mine. '01 w/ 40,200 miles, designo edition. was that fair? i know it doesn't really matter now, but i plan to keep this one a very long time, providing it runs well. - no info on real longevity of the amg motors/tranny's yet

55 cabdriver

...after two years of CLK 55 (cabriolet) ownership, last Christmas as a self-indulgent present to myself I traded my AMG in on a 40th anniversary 911 (MSRP of $97k). After lengthy and spirited negotiations on the Saturday before Christmas, my final deal was $45k for my trade-in and $7k off the sticker of the Porsche. My cab MSRP'd at $80k in January, 2002, but I bought from a dealer in SD for $76k. (And traded in a 2000 911 C4.) I was distressed that my AMG cab was only bringing $45k wholesale, but my mileage was high (near 30,000) and I just look at it is as the cost of doing business (about a buck a mile in depreciation) in this league. I still have one AMG (an '03 C32 remains my daily commuter), so I'll be hanging on this board occasionally. I have nothing but respect for the 208 series cars, it was just time to move on to a new toy.

Prasith32

Wow 97k for a base porsche...

I would have sprung for a low mileage Turbo for that price. My friend has one and I want it soo bad.

That car really is amazing. I actually like the 993 TT better but the one I drove had a bunch of autothority mods on it so it wasn't exactly a fair comparison. Also not too keen on the exterior.

I think it is the new model syndrome that is pushing the price down so much becaus the c32's and the e55 (new model) aren't depreciating that much.

We will have to see what happens to the c32 when the c55 is released.

55 cabdriver

I think the base C2 cars begin in the low $70s. The 40th anniversary cars basically come with a complete options package, beginning with the X51 engine, which costs $11k. Full natural leather is part of the package as well, and I think that costs roughly $5k. Navigation and Bose are also standard. The car is visually distinct, with a turbo front end, GT3 side skirts, and polished 18" wheels and exhausts. It is available only in GT Silver Metallic, a color reserved for the $450k Carerra GT. It is the only C2 that is shipped with a limited slip differential, and it has the sport suspension standard. While I admire the 996 turbo, and have owned prior 911 turbos, I prefer the styling of the narrow body cars and have no need for the complexity (and weight) of the awd system, plus I save $25k. And, for what it's worth, I like the exclusivity of this model (although admittedly they are building twice as many of these as MB built 208 AMG cabs).

Mr. Xristo

Are you kidding me, in less than two years the car drops 54%

No disrespect, but this thread is hilarious...

Unless people have the money to burn (which it sounds like most don't), purchasing/financing a brand new model year is a complete waste of money and a very poor financial decision; unless, of course, you plan on keeping the vehicle for many years.

The value of a Mercedes drops like a stone in the water (as do other luxury vehicles).

I purchased a 2003 SLK320 for $48,000 because I "had to have" the newest model and could not wait a year for a used one.

Let's not talk about the depreciation...

I will make sure I never make that mistake again...

55 cabdriver

As I said just above, I look at depreciation as the cost of doing business in this league. I can afford it. And I'm thrilled to hear my comments can add to someone's entertainment...isn't this forum a beautiful thing?

Mr. Xristo

No entertainment here, just wanted to inteject because I thought a huge depreciation amount on an MB was not an expected thing.

55 cabdriver

Enjoy your SLK!

Prasith32

Depreciation cost is unfortunate but like 55cab said it is the cost of switching cars.

It really comes down to if you really like cars and are willing to take the hit. People have all kinds of stupid habits they waste money on. This habit of mine isn't stupid but i definitely waste money.

I switch cars every 2 yrs or so. I will definitely keep my c32 for a long time because it really is like no other and now that the engine is basically retired it will be even more special (to me anyways).

Thankfully I have my own business so I can write off those depreciation losses. I would recommend that to anyone else as well with the chronic car habit

55cab,

What comes with the x51 pkg? I like the options. How many will they make? The gt3 is not far away if the turbo isn't your bag. But I guess to each his own. It is true that turbo is more complex with PSM and all the other electronics but the 993 can be downright dangerous in the wrong hands. That being said put the 993 in the 996 turbo body and i'll take that over anything up to 400k. I definitely like FI over NA.

Prasith

55 cabdriver

The X-51 is also called the Carerra Power Kit. A full list of the engine enhancements can be found on the Porsche USA web site. Bottom line is that it is a factory warranted upgrade of 25 hp to 345, about what you and I are running in our C32s, but in a lighter weight vehicle. Rumor has it that most of the power increase is felt above 4,000 rpm, and that Porsche has conservatively rated the hp gain. The GT3 is, as you suggest, considerably stronger (rated at 380 hp) but I needed a back seat for my two kids, and the 40th anniversary 911 has a few more creature comforts that are great on my long highway drives. The GT3 is more track oriented than I wanted, and also costs about $15k more than what I spent. I guess the big question in Porsche circles is whether or not a potential buyer should wait for the 2005 997 cars, due out within the next six months. I elected not to.

Mr. Xristo

No problem...

Thanks but I sold the SLK