E500 and E350 wagon values
Thread Starter
Newbie
Joined: Dec 2006
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E500 and E350 wagon values
I'm looking around at used E class wagons.
I don't have one yet, so this is my first post.
I've driven an E500 wagon which seems really fun and an E350 wagon, but without the sport suspension. It seems like it would be ok if it had the sport suspension. The dealer is asking about 52k for a 2005 E500 wagon with just under 20k miles. This seems a bit out of line for a variety of reasons.
I know that the big E class cars have taken a big value hit recently. What do you think that reasonable values for 2005 E500 and 2006 E350 wagons are, say fairly loaded with 70k and 62k original MSRPs respectively.
Also, I've heard that the 2006 are more reliable than the 2003-2005. Is that true? What about 5.0 V8 vs 3.5 V6 reliability?
Thanks,
Duaine
I don't have one yet, so this is my first post.
I've driven an E500 wagon which seems really fun and an E350 wagon, but without the sport suspension. It seems like it would be ok if it had the sport suspension. The dealer is asking about 52k for a 2005 E500 wagon with just under 20k miles. This seems a bit out of line for a variety of reasons.
I know that the big E class cars have taken a big value hit recently. What do you think that reasonable values for 2005 E500 and 2006 E350 wagons are, say fairly loaded with 70k and 62k original MSRPs respectively.
Also, I've heard that the 2006 are more reliable than the 2003-2005. Is that true? What about 5.0 V8 vs 3.5 V6 reliability?
Thanks,
Duaine
Junior Member
Joined: Dec 2006
Posts: 48
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From: New York
05 E500 Wagon
duaine, I have been in the market for a 04,05 E500 wagon also. Most of the 05 i've seen around are high $40's with 20-30 thousand miles. All of the dealers that I have dealt with seem to hit a brick wall in price at the same point. I believe that the E500 wagons were over priced and many wound up leasing, these 3 year deals are up and seems to be putting alot of cars on the lot but due to the low lease and high tags they are not letting them go any cheaper. I would have owned one by now but seem to be having a hard time finding a car that doen't scare me. I don't mind the price for what I see but don't want to spend $45K for a car that someone beat the snot out of for 3 years.
As far as reliability I only know what I have read, mostly past reviews and some other internet stuff. I sure wish some of the club members here would chime in and give us some real world facts.
Good Luck In Your Search, Mike
As far as reliability I only know what I have read, mostly past reviews and some other internet stuff. I sure wish some of the club members here would chime in and give us some real world facts.
Good Luck In Your Search, Mike
Newbie
Joined: Apr 2006
Posts: 23
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From: Near Seattle
2004 E320, some others
04 E320
We have an 04 e320 4matic wagon that has been pretty much bulletproof since new. It doesn't get driven a ton and in over two years still has less than 20,000 miles. It was a bit over 60k new with a few options and the wagons tend to hold their value better than sedans so 45k for an e500 doesn't sound too bad. The only problem that we have had was a musty smell from the airconditioner on startup which was fixed underwarranty while we were out of town. I think it has only been two trips to the dealer in two years.
Thread Starter
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Joined: Dec 2006
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sounds similar.
Mike,
It sounds like your experience is similar to mine.
Based on a 38k wholesale, (from Galves) these 2005 wagons with about 20k miles are probably worth 40 at retail without certified and 42 with certified at the retail level. Based on what I've seen sell and not sell on ebay, that number is about right. For conversion of ebay prices, I'm using 25 cents per mile in the same model year and 15% change from model year to model year at the same mileage. Im using 1200 cost to certify and 1500-2000 minimum dealer profit on a used car deal. No mater how I slice it, if I start with real data, (ebay sales or galves) the right price is 40-42.
Now, here's the problem. On a two year lease, the residual is about 70%. So, the dealer paid about 49k for these cars, 11k over wholesale. Hence, they are asking us to take the depreciation on their inventory. I'm pretty sure that November is seasonally weak, but I think Jan and Feb are almost as bad. Happy hunting.
One dealer did tell me that the 320 and 350 sedans and wagons have held up much better than the 500 sedan or wagon. Maybe gas prices have people worried?
Just my 2 cents,
Duaine
It sounds like your experience is similar to mine.
Based on a 38k wholesale, (from Galves) these 2005 wagons with about 20k miles are probably worth 40 at retail without certified and 42 with certified at the retail level. Based on what I've seen sell and not sell on ebay, that number is about right. For conversion of ebay prices, I'm using 25 cents per mile in the same model year and 15% change from model year to model year at the same mileage. Im using 1200 cost to certify and 1500-2000 minimum dealer profit on a used car deal. No mater how I slice it, if I start with real data, (ebay sales or galves) the right price is 40-42.
Now, here's the problem. On a two year lease, the residual is about 70%. So, the dealer paid about 49k for these cars, 11k over wholesale. Hence, they are asking us to take the depreciation on their inventory. I'm pretty sure that November is seasonally weak, but I think Jan and Feb are almost as bad. Happy hunting.
One dealer did tell me that the 320 and 350 sedans and wagons have held up much better than the 500 sedan or wagon. Maybe gas prices have people worried?
Just my 2 cents,
Duaine
Junior Member
Joined: Dec 2006
Posts: 48
Likes: 0
From: New York
05 E500 Wagon
Wae320, Thanks for the reply. For several years I have always admired the 320 wagon and see lots of them on the road and barely any 500 wagons. Now that I have decided to look at pre-owned wagons, all I see at the dealers are 500s and maybe a 320. The pre-owned 320 prices almost match the 500. So this seems odd unless there is more to the reliability of the 500. Personally I like the 500 better now and really don't worry about the few MPG I would lose since I will not put that many miles on anyway.
Duaine, I have kept any eye on what these seem to be going for too and agree. I think after the new year you will probably see some reduction, just the simple math of another year older will play a part. I would like to take advantage of the low finance deal that will be over sometime at the end of Dec. Other benefits from the dealer is another year of warranty, if I were to drop this amount of $ of a used car I think I would like to have that.
Good Luck, Mike
Duaine, I have kept any eye on what these seem to be going for too and agree. I think after the new year you will probably see some reduction, just the simple math of another year older will play a part. I would like to take advantage of the low finance deal that will be over sometime at the end of Dec. Other benefits from the dealer is another year of warranty, if I were to drop this amount of $ of a used car I think I would like to have that.
Good Luck, Mike
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Newbie
Joined: Apr 2006
Posts: 23
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From: Near Seattle
2004 E320, some others
I like the 500 more as well, but its tough to justify the seven to ten grand more in purchase price, increased insurance cost, and increased fuel cost when the V8 power is rarely going to be used. I think that most people who buy wagons are affluent families who like the idea of driving a more civilized, comfortable and fun vehicle than an SUV or van. Even the E320 is faster than a lot of SUVs, and it sure is a lot easier and more fun to drive as well as returning far better fuel economy. I think an E320 CDI/Bluetech 4matic wagon would be ideal for a lot of people. What's not to like about a luxurious and comfortable wagon that can take a family of four skiing, has more than enough power, and can still get 35 mpg?
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Junior Member
Joined: Aug 2005
Posts: 16
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From: Northern California foothills
Previous: 2004 E500 4Matic Wagon, 2005 SLK 55. Current: 2019 SLC300
I'd do it again
I picked up my 04 E500 4Matic wagon in the certified program in Aug05 with 11k miles on it. After a few initial dealer visits to get some problems solved, and a couple of visits to Steve to get some goodies added, I'm very happy with my choice. As you can see from my sig, it is pretty well loaded now. I like several of the options that this car had and were not available after 04, especially the Drive Dynamic seats. On the other hand, Steve can add almost anything that isn't on one, so if you can find a car you like that seems to have been well cared for, I would recommend the wagon highly. With the warranty extension as a certified car, I think this route is better than buying new - you just need to be patient and drive several until you find the right one for you.
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Joined: Dec 2003
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From: Torquay, England
E-class E300e Estate, Sprinter (stretched limo)
Good luck with your search. The estate is a beautiful vehicle which is both a pleasure to own, and satisfying to drive.
Regards,
John from sunny Torquay
Regards,
John from sunny Torquay
