Resale Values
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Joined: Oct 2005
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From: fl
1992 500E, 2006 E500, 2007 GL 450
Resale Values
Any thoughts on trade in value for 2006 E500 (6000 miles, premium, appearance, xenons, auto trunk closer etc.)? Dealer says high $30's is the best any dealer can do on '06 E500 given $10k in trunk for new and a huge glut nationwide. MSRP was $64k+. I was prepared to take a $15k hit, not close to $25K. It's enough to contemplate waiting for monster incentives on any MB or a return to BMW despite their locally crummy service. I wish I could enjoy driving a Japanese car.
Last edited by nantucketsleigh; Nov 29, 2006 at 03:59 PM.
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From: long island , ny
2016 G63 ; 981 boxster GTS
you sound like me a year ago.
i ebayed out of my 05 E500 in sep 05 for about 6-7k better than trade-in..
take nice pics and put it up BIN at 8-10k over that pathetic dealer bid.
worth a shot.
i ebayed out of my 05 E500 in sep 05 for about 6-7k better than trade-in..
take nice pics and put it up BIN at 8-10k over that pathetic dealer bid.
worth a shot.
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Any thoughts on trade in value for 2006 E500 (6000 miles, premium, appearance, xenons, auto trunk closer etc.)? Dealer says high $30's is the best any dealer can do on '06 E500 given $10k in trunk for new and a huge glut nationwide. MSRP was $64k+. I was prepared to take a $15k hit, not close to $25K. It's enough to contemplate waiting for monster incentives on any MB or a return to BMW despite their locally crummy service. I wish I could enjoy driving a Japanese car.
You will always get more money from a private sale. If you have time and the patience to go through with that...
http://www.kbb.com
Who's the dealer? I guess it doesn't matter because they are condition to low ball you closer to their wholesale cost than actual trade value. It's up to you to play hard ball with them or just tell them they can stick it...
Last edited by AMGfan; Nov 29, 2006 at 04:27 PM.
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Joined: Apr 2006
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From: Raleigh NC
2007 E63, 2006 C55
RE: Trade Value
I think your dealer is low balling you...unless there is something wrong w/your car. If you have CarMax in your area, I would give them a try, they will generally buy your car at a fair...wholesale...price.
Assuming your car is o.k., I would hold out for about $5K better or sell it as a private party sale. I base my prior sentence on current "Black Book" values in the Southeast. Used car wholesale values also tend to rise a bit at the end of the year due to "Tax Season", so don't feel rushed to sell based on values dropping much until early February. Alternately, Ebay might be a good avenue. Good luck.
Assuming your car is o.k., I would hold out for about $5K better or sell it as a private party sale. I base my prior sentence on current "Black Book" values in the Southeast. Used car wholesale values also tend to rise a bit at the end of the year due to "Tax Season", so don't feel rushed to sell based on values dropping much until early February. Alternately, Ebay might be a good avenue. Good luck.
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From: Philadelphia area
2010 ML550, 2010 E350 4M, 1966 Corvette Convt C2
Remember any dealer is only going to pay wholesale for anything and low wholesale at that. They want to be in a position to sell the car after putting the Starmark on it which costs them and/or as a safety valve take it to wholesale auction and sell it at a small profit. They also have floor plan interest and insurance to concern themselves with and guess who is paying for that.
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Any thoughts on trade in value for 2006 E500 (6000 miles, premium, appearance, xenons, auto trunk closer etc.)? Dealer says high $30's is the best any dealer can do on '06 E500 given $10k in trunk for new and a huge glut nationwide. MSRP was $64k+. I was prepared to take a $15k hit, not close to $25K. It's enough to contemplate waiting for monster incentives on any MB or a return to BMW despite their locally crummy service. I wish I could enjoy driving a Japanese car.
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He's right about $10k in trunk money for leftover new 2006 E500s, so your car (or one like it) could theoretically be purchased brand new for $54k. How much is it worth to a potential buyer to be the 2nd owner, have a shorter warranty period, accept 6k of wear, and be forced to have your color/option selection? I'd say at least $5k. Then consider any trade-in tax benefit and lower new car financing rates available on a new car, and to a private party I'd say it's worth $46-47k. It sucks, but selling a car immediately after a significant facelift is obviously not going to be beneficial to the seller...no matter what the brand.
And as others have mentioned, trading it in would mean additionally absorbing the dealer's cost to certify and market the car, as well as their profit margin.
High $30s is definitely a lowball offer, but it's only half of the transaction on a trade-in...
And as others have mentioned, trading it in would mean additionally absorbing the dealer's cost to certify and market the car, as well as their profit margin.
High $30s is definitely a lowball offer, but it's only half of the transaction on a trade-in...
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Out Of Control!!
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From: Boston, MA
00 MB ML55, 91 Toyota Supra Turbo(sold), 06 E500(gone), 03 BMW M3
Not to go too off topic but this seems pretty promising to me... Im leasing a 2006 E500 Sport(white on stone) and estimated value of the car at end of lease time was suppose to be $42k If your telling me that right now TRADE IN is for 6k miles(I have 5k) is somewhere around that, with my car being in an accident, I might be able to pick up this thing for maybe mid 30s? at the end? That sounds good to me, in which case this car has been a stupendous deal for me
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Thread Starter
Senior Member
Joined: Oct 2005
Posts: 352
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From: fl
1992 500E, 2006 E500, 2007 GL 450
I think my car is in perfect condition, but I developed a yen for a ML63. Although I could take a 40% hit financially I would feel like a fool and will likely do nothing. Over the past five years I traded in a 2001 540i and 2002 M3 after three years of ownership and depreciation was about $5-6K per year. I really like the E500 and could easily live with it for a couple of more years. Guaranteed depreciation for the next three years cant exceed $10k per year. I can't really fault the dealers arithmetic. New, loaded E500's can be bought for about $50K ($2-3 off sticker plus $10k in trunk, plus $2K club rebate). At best dealer might retail a used one for $45 and net low $40's after expenses. At its core the reason for MB crummy resale values is MB, which has flooded the market with cars. In the short term they probably boosted U.S. sales beyond what they would have been. It may be a malady contracted from Chrysler, in the long term they have damaged the brand.
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I At its core the reason for MB crummy resale values is MB, which has flooded the market with cars. In the short term they probably boosted U.S. sales beyond what they would have been. It may be a malady contracted from Chrysler, in the long term they have damaged the brand.
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The original poster is considering selling at the worst possible time; the biggest depreciation hit has taken place, but the car has barely been used. It will depreciate much more slowly from here on.
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At its core the reason for MB crummy resale values is MB, which has flooded the market with cars. In the short term they probably boosted U.S. sales beyond what they would have been. It may be a malady contracted from Chrysler, in the long term they have damaged the brand.
Hopefully this is a temporary phenomenon; perhaps the new C-class, real sport packages to compete more directly with BMW, and innovations like Bluetec diesel power with AdBlue across the lineup in all US markets will spur sales without requiring major incentives in the future.
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Joined: Sep 2004
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I
Hopefully this is a temporary phenomenon; perhaps the new C-class, real sport packages to compete more directly with BMW, and innovations like Bluetec diesel power with AdBlue across the lineup in all US markets will spur sales without requiring major incentives in the future.
Hopefully this is a temporary phenomenon; perhaps the new C-class, real sport packages to compete more directly with BMW, and innovations like Bluetec diesel power with AdBlue across the lineup in all US markets will spur sales without requiring major incentives in the future.
