rrich49132

Guys,
my boss is getting a new car soon and have a 2003 e500 with just 23k miles. It is in mint condition and he will probably trade it in and not get anything close to what it is worth. My question is what do you think this could be sold for private party. I looked on kbb and such and know it is just a reference for the most part as I am inclined to buy it from him for about $500 more than trade in and sell it on my own depending upon what you all think this could go for.

Any help would be appreciated.

MercFiveHundred

NO WAY! Do not buy unless you plan on getting an extended warranty and be prepared for many repair jobs ahead. Especially check if there is still a Valeo radiator in it.

rrich49132

Really that bad?

I could probably get it for about 12K and it is not under any sort of warranty. I was thinking to buy it to flip.

NOLA911

I thought I would do the same thing and had a 2003 w211 e500 for 3 thousand miles... serpentine pulley broke which caused overheat which required new serpentine, pulley and thermostat. AC blower went out, brakes went bad, clunk in front end suspension started forming, Electrical Consumer battery went bad, ESC warning light came on (probably bad steering sensor- or worse), and I think the alternator was going bad too. ALL in 3 thousand miles (1 month) of ownership.

I traded back to a lexus after fixing just the serpentine belt fiasco

mbuskuhl

I've flipped multiple cars before (from friends/co-workers/etc) and ALWAYS made money. You have to know what you are doing. I might have an interest in the car above, how about $12,500?

One thing to keep in mind is you don't want to get stuck having to pay taxes and titling it. That takes time and hurts profits. Keep the paperwork clean, in other words when you buy the car keep the "buyer" info on the title blank.

rrich49132

The car is absolutely beautiful as I just would hate to see him trade it in for nothing. I am going to offer him $12K for it and if he can get more for it trading it in I will loose out but that is low enough that I could flip it. I read up about the radiator and am not sure if this is the car with the one that is known to go bad. I may keep it and give to wife to drive for a few years as she really likes my 2000 clk430.

Anyways will talk to my boss tomorrow and hope he did not get something this past weekend.

novae500

$12k would be a steal, but set some $$$ aside that you would have saved for future repairs...

Ser05E500

I wouldnt buy the 2003 with your money!

paulf124

I have a 2003 E500 Sport purchaed new with 73,000 miles .
the only major problem was the bad radiator / transmission failure fixed under waranty.
I am probably going to buy another E550 or CLS550 soon just to get updated

gaazmon

check the radiator and see if it is valeo or changed to behr. also check shifting of transmission (maybe even get sample for glycol test but that would be difficult since car is not yours). check for leaks on airmatic struts. SBC warranty is good for another 2 or 3 years for that car, probably.

search is also a good tool.

rieger

2003 E500 tell him you will take it off his hands if he pays you $12k. More problems than just the radiator my friend. Airmatic shocks are pretty costly and they should be failing just about now. The AC blower and some electronics gremlins should also rear it's head if not already. A lot of the problems is not if but when.

K-A

That car is the worst year for a 211, and an Airmaic car At that. However that's great mileage and if it's as clean as you say, jump on it. If you're gonna keep it then check on the radiator stuff, if not, then just buy it and make some money. See what his Trade In offer is, and offer $500 more.

rrich49132

He does not know yet.

I am going to talk to him and offer him $12K and if he can get more than that at trade in then go for it if not I can have a check for him the next day. At $12k I think it is worth keeping for a few years or flipping it anything more don't think I would touch it. If it was not for the problems and this forum I would be willing to pay lots more for it.

Thanks for the input. We shall see. He may hold out for a bit longer as he wants to get the 2011 5 series BMW and am not sure when the come out.

X55

Just FYI that is called an open title and is considered a felony in many states. I would never buy a titled vehicle unless the title was in the seller's name.

djrabbi

sell it to me for 18k and i will sell my 03 for 20k haha

rrich49132

I would title it in my name pay tax, tag it and drive it then if I wanted to sell put it up for sale.

Frasmat

12K is a great price! Despite the small problems you may have. What you may want to consider is doing the transaction through the dealer. See whats the markup if they pick up the car and sell it as a CPO. With the CPO you get the 1 year warranty and you can buy up to 2 additional years of coverage.