I am looking into purchasing a minimally used 2004 E 500 and would appreciate insight & comments as to an appropriate price considering he vehicle's age, equipment level, etc. I've been intermittently posting & lurking here & note the generally high level of both interest and expertise. The car is equipped as follows:

- Black w/ stone E500 4 matic. Approx 4100 miles. I am tolds the former owner had more money than brains, having traded it after a few months for "a different color". Of course, if inclined to purchase I'll check the svce history. It is NOT a "Starmark" car.

- 320 Entertainment package
- 323 Heating package
- Panorama sunroof
- 422 Appearance package
- DVD command Nav system

The "stealer" has had this car since at least October and wanted $65K for it. I briefly looked into it and told them they were nuts as I could get a new one for less. They must be having 2nd thoughts as its now down to 60K. As far as I'm concerned its not worth more than 56---at most, since the local trade value is only 47K. In other words, if I bought it on Monday and traded on Tuesday I'd lose some 13K if I bought it as the new asking price.
Any thoughts/ideas/suggestions? All appreciated in advance.

Jim


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A fair price would be $54 - $55k. This is based on a original MSRP of $65K.

 

About half way between KBB trade in value and private party value would be an appropriate amount to pay. Only pay more than that if you really want that particular car. If you are patient, you can purchase an almost new E500 for KBB trade in value from a private party. This is based on Southern California market, and may not be the same in other areas.