jangy

Hi all. my brother is looking at a CPO 2006 E350 with 40K miles at MB of Pleasanton. It is pretty much loaded, but NO AMG sport package. They are asking right at $25k. What does the gallery think? Can I do him better in SoCal?

MARK CUMMINS

The Miles are High ...Its worth 20K

jangy

Thanks Mark!!

Captain FA

Go to edmunds.com and look up the True Market Value of the car, make sure you include all the options.

Go to kbb.com and look up the Retail value of the car.

Something around there or in between the two values is reasonable. I wouldn't pay a price higher than both of those, though. Dealerships are dying to get rid of cars right now, keep that in mind

tashakes

Auction Prices National
Above Average Below
Sale Price $20,571 $17,770 $14,969
Mileage 17,406 34,812 52,218
Total Sold All: 507
Average Auction Mileage: 34812

If you score one $1000 above this prices, you still did very well. A CPO will probably fetch another $1-1.5K in the retail market. CPOS are usually somewhere between AVG and ABOVE.

Its a buyers market, Good luck.

jangy

OK, slight switch up. How much could he get a 2007 for? any chance of getting around $25k out the door with a clean one (~30k miles)?

dvmak

If the cars are going so cheap at auction why are the dealers still pricing them in the 30's? Not only that .. they won't even entertain an offer below 30 ...

bzliteyear

some MB dealers are indeed buying 2006 E350s for $17k from MB financials on lease returns. however, after they prep and CPO them and the dealers are in it at $19-21k. they then try to get $25k-30k+.

so why do they price them above $30k vs. $23-25k?

i have 2 guesses:
1) the $17k price only came in the past week. all their older inventories probably cost them $20-25k, depending on options. they're trying to not kill their own inventory by pricing new ones too cheap.
2) these MB dealers have lost as much as $5-15k on some of their other higher end inventories in the past 60 days as auction prices collapsed. by trying to make $8-10k(asking price), MB dealers have more room to negotiate...and if they're lucky, try to make some extra profits to make up for their other losses.
my $.02.
good luck.

A C

Pleasanton has a ton of E350s. I was there last week (live here) taking a look because my E350 is coming off lease in March. They have a CLS500 at $35k which has now been marked down 2x from its starting point. I would have your brother head in there right before Christmas they will deal. I've bought 2 cars from them and received good deals both times. My E350 lease couldn't be beat.

Also, MB Fin called me to tell me they will provide an $11k incentive for me to buy my car. Residual is $40k on essentially the 2007 E350 Saks 5th Ave car ($57.5k orig. MSRP), bringing the purchase price down to just under $30k. It has 17k miles.

Anyone out there know what the auctions are bringing for the lower mileage 2007 cars?

bzliteyear

check out this link:
http://www.ckautogroup.com/07e350sport.htm
given the $33k asking price, my guess is auction price was around $27-28k for this car. it does have higher mileage than your car.

one reason why MB financial doesn't want to go too low w/ the residual discount is because they're trying to help their dealers get business to stay in business and provide good service. if MB financial's prices for you are LOWER than dealers, then they're hurting the dealers by dealing w/ you directly.

IF - and it's a BIG IF - you're willing to walk away from your car(and re-buy the car back under a different name), you might be able to buy the car back for same/slightly lower price than $29k - AND while including the CPO extended warranty. it's not a guarantee, but if you're going to walk away anyways, be sure to inquire w/ dealer after you turn it in.
Patrick

dvmak

bzliteyear,

I agree that the older inventory was purchased at higher costs then newest lease returns and that's why they are pricing in mid 30's ..

I just don't know how much higher .. I ended up buying a 2006 E500 4Matic a few weeks back from non-MB dealer as they just wouldn't budge below 30 ... and that was on E350's (I wasn't really looking for the V8)

.. I just happened to run across a E500 with very low miles in the flint grey (which was the color I wanted) ... and once I drove the V8 .. i just couldn't go back to the 6..

A C

Patrick,

I was surprised that they were immediately at that big of a discount. My car is equipped the same as Saks, but without the panorama roof. I wanted the split rear seats and it was hard enough to find the sahara interior. $33k is their asking price - maybe $30? Still seems high.

Is there anyone out there with access to Manheim that can see what the auctions are bringing for the lower mileage 2007 E350s?

Blk04cobra1

2006 E350's CPO'd can be had in the mid $20k's just as stated above...low mile 2007's are still bringing a premium, so expect to pay low-mid $30k's on a CPO'd 2007 E350.

shorthair

Out the door for $25k? Probably not yet. I just picked one up in excellent condition with 33k miles for $25,300 + tax. Probably another 2-3 months, unless you can get one at auction price.

jangy

Thankd everyone. i guess I will stick to looking for a clean '06 loaded with the AMG package. Is paying $25k out the door realistic for one that is clean?

Greg_S

2006's go from mid teens to 20k

2007's go from ~19k to 25k

2007 E63's are down into the 40's now

A C

Greg,

Could you pull the specific results for the last Manheim auction for 2007 E350s? MB finance is telling me they are going for $30k - my lease is up in February and they are discounting the buyout by $10k, down to $30k, but I think that is still too high.

Thanks.

shorthair

That doesn't sound right. Dealers in San Diego are selling the 2007's for $25k-$28k.

Greg_S

We turned in our 07 350 on Nov 1st and they still wanted 38k. there's been a huge drop in what they'll take in just the last 50 days. Riverside auction has 20+ of these 07's every 2 weeks.

gaazmon

Damn. The 63's are dropping like flys.

My friend works at a tree lot. He was putting a tree on this guys 08 chevy avalance and my friend said "nice truck". The guy says "you can have it for 10 grand. I paid 28k brand new."

rotat

I was told that I can buy my 2007 E350 saks edition for just under $30k...my lease comes due in April...Am i better off to buy it now or wait till April 1? Are prices going to drop over next few months or possibly go up until Spring/Summer season? I'm thinking I should buy the car but not sure if it will go down more after new version of e350 is released...any comments would be appreciated

MBNUT1

They will drop and I bet they would sell it to you for less. They do not want it back.

bzliteyear

i agree they will drop.
everytime i think the style change is already priced into the lower price of the previous model, i get reminded that it's never priced in...probably until about 4-6 months after the new model's out, imho.
btw, if 2006's are going for $20-23k, i think 2007 should be closer to $25k...if not now, then for sure after the style change. personally, i'd rather get a 2006 E550 than a newer 2007 E350.
Patrick

thegreatsatan

I just picked up an black/black 06 E350 with Sport/AMG, premium package, navigation, and dynamic seats for 20,800 in SoCal which was about 22600 including tax/lic. It's a little high mileage (44k) but I plan on extending the warranty and keeping it for many years to come.

A C

They are still at $30k on my car as the auctions are running $23-$24k.
Hopefully they come to their senses or they are getting the car back in March!

17k miles. I offered them $24.5 for it.