So here's the story...

The company I work for leases a Mercedes for our CFO and CEO. My CFO's lease (E350) was ending on June 20th. Her idea was to not drive the car much at all and purchase the car at the end of her lease for her husband for the residual value.

I had been talking to her in the past about wanting an E class and last week she came to me and said that they decided not to purchase the E and asked if I was interested (of course I was). However, it is not the color I wanted (interior or exterior). I went ahead and purchased the car because it was an offer I didn't think I could turn down.

The dealer allowed me to purchase the car at the residual value as well as purchase and extended new car warranty. The day I went to the dealership and purchased the car I had some down time to look around and they just got the EXACT car I wanted in. So the question I pose to the group is with the 2014s now out, do you think I could sell the car I purchased and get the car I want and what is a realistic price for the car I want for at the dealership? I wouldn't mind paying over what I paid, but I cannot pay what the other car is listed for. Here is the scoop...

My new car:

2010 E350 Sport, 4,200 miles, Steel Grey, Almond Beige MB-Tex, Burl Walnut, P1, Sport Package (321). Price: $30,782 + 2,988 (warranty) + TTL

The car I REALLY want:

2013 E350 Sport, 9,472 miles, Black, Black MB-Tex, Burl Walnut, P2, Sport Package (321), Wheel Package (R08), Lane Tracking (993), Wheel Locks (068), Rear Trunklid Spoiler (104), Split-Folding Rear Seats (287), Wood & Leather Steering Wheel (314), Comfort Box (137). List Price: $52,950 + warranty + TTL

Any ideas what my car that I purchased would be worth if I sold or traded it in (it is in immaculate condition-still has new car smell) and a realistic idea of what I could get the 2013 for with the 2014 models out now?

I like the car I purchased, but I LOVE the 2013. I just don't now if I could get the 2013 at a good enough price to justify the flip. Any advice out there would be appreciated. Am I crazy? Wait, don't answer that...

 

Go with what you're going to LOVE. No sense keeping a car you're not in LOVE with, and sinse the dealer and you just made the deal, they may be interested in moving you over quickly. The longer you wait, the harder the deal may be to make.

 

I agree to go with what you'll be happy with, sounds like the answer is the newer car, go for it!

 

Go for the 2013! No point driving something you do not like.

 

There is an aditional consideration though - what is your CFO going to say when she sees you driving a different car?

 

Good point, I thought about the CFO as well. My thought was to tell her about it after I spoke with the dealer to see if I could get a deal worked out. She was going to turn the car in anyway, but I do think I should talk with her first before I actually did anything.

 

it's your car right? who cares what the cf whatever thinks lmao

 

She may think that she did him a huge favor by letting him buy the car and may feel miffed.

That's one reason that it is always unwise to buy/sell things from/to co-workers, friends or family - something always goes wrong and someone feels wronged.

 

I can see what you're saying, but hopefully the parties involved are somewhat mature

 

Am I seeing that right.... A $20K difference between the two? The '10 is P1 bare bones which is a pretty boring setup but I think that's a lot extra to pay for such a similar car with a decently modest power upgrade.

Then again, Brand New E350's sell for far less than $52K so you should be able to knock that down to mid 40's.

 

K-A, you are seeing that right. The price is why I bought the car. Because I worked for the company, and we lease cars from the dealer all the time, they allowed me to purchase the car for the residual value of the lease.

My hope would be to give them the car I just purchased and a moderate amount of cash for the 2013. I just wanted to poll the group as to what the amount I offer should be. What I am trying to figure out is what the dealer would sell my car for and offer them the difference of what I would pay for the 2013. In other words, if I think the dealer could get $40k for my car as a CPO with 4200 miles on it and I could buy the 2013 for $45k, would they take a deal for my car plus $5k and I drive off in the 2013. This may be just too far fetched to even try.

 

Have you considered leasing or are you wanting to solely buy?

I ask that because with Leasing you can find deals on 2013 models (leftovers at this point I assume) that would sell for quite a lot less than $52K. I've been getting Emails from dealers pushing no down and prices that you'd think a C Class should lease for on these cars. Though perhaps 2013 inventory is getting or has already been snatched up?

 

In my opinion $20k is a lot of incentive to take the 2010, however if they will take the 2010 and $5k for the 2013 I'd go for it.

 

Do you really think a dealer can get $40K for a CPO, but a P1 2010 car while getting only $45K for CPO, but (much more rare) P2 2013 car? There's no chance, normally. Having said that, it would not hurt to ask since it sounds like you/your company does a lot of business with them.

Realistically, you're looking at $15K - around $33.5K for 2010 P1 trade-in(since its CPO) and around $48.5K for 2013 P2(which is also a CPO) - difference plus tax and TTL. Do not expect any less for 2013 CPO used, even though you can get about the same for a brand new 2013 with same equipment (if you can still find one in colors you want) since there is no dealer "trunk" money for used from MB unlike new.

 

I concur - best to leverage the good deal you got with the 2010 to get the car you really want.

 

I doubt it, I would just keep the 2010 it only has 4200 miles and you got the extended warranty on it. You got a REAL good price on it.

For the dealer to do the deal for the 2013 I would bet you would be out of your pocket at least an additional $12K-$15K. To me that's really not worth it because the cars are pretty similar and not worth the extra money for the extra power.

Think about it this way, you got the 2010 car at around $35K and the 2013 car is around $47K. Which car will depreciate alot faster especially taking into consideration the miles on each car? You are guaranteed to lose alot more money and alot faster on that 2013.

People are all over E350 priced around $18K-$22K once you hit that figure after miles and depreciation.

 

It's unfortunate you don't like the 2010 because it is practically brand new with only 4200 miles. And at ~30K, that was a steal of a deal. In any case, if you are going to be unhappy with it, what good is a good deal? That means go with the 2013. However, at that price, I would probably rather go brand new, especially if you can wait another month or two when MB will have a firesale on remaining E classes. With all incentives, deals, and the fact that the 2014s are already here, you will be shocked at what you will be paying for a remaining 2013.

I still can't believe you got that 2010 with only 4200 miles for 30k. Your CFO did you a big favor. The company paid all the depreciation for that car (via lease), yet it is still literally brand new. You got to pay only the residual on it.

In any case, good luck with your final decision.

 

That car is like new but I would not drive something that I don't like ,this is why I filled up a from a waited 3 months to get something I would like to have rather than something I would not like in the dealer's parking lot even with good deals

 

My local dealer is advertising, on radio, 20k off S class and 10k off E class.

He was shouting $18k of S and $8k off E last month.

Makes me wonder as regards the depreciation on the 2011 - 2012 CPO machines.

 

Thanks for all of the responses. I really do love my new E (I have been wanting one for a few years now). I appreciate all of your opinions as to the value of both cars. I know everyone here knows a lot more about that than I do.

I am positive I got the deal of a lifetime on this vehicle and am proud to call it mine. It's just when I saw that 2013, the wheels in my head started turning...

 

It must be that "new car smell" effect. The '13's are really not much different at all from the '10's. In fact, I like the '10's hockey stick LED's more than the generic "straight bars".

If it's a matter of Options, then I can understand as I couldn't get an E without P2.

However, you got an amazing deal and the miles are literally frighteningly low. Set aside a few K for some mods and I'm sure you won't be thinking of that '13 aesthetically. If you just have to have those extra 35 horsies then I guess that's another story.

 

Speaking of modes. SprintBooster is a must for 2010-11 V6s (to be kept always in "red"). Will put one in my 2012 V6 as well. Best $289 performance mod there's, IMHO.

 

I think you would have MUCH bigger "Buyers Remorse" 6 months after you bought the black one. You got a steal on your CFO's car. You are essentially paying $20,000 more for a paint job.

Of course, do what makes you happy, but being a car nut who has bought before with his heart and not his head, really think about how you will feel 6 months after you bought the black one and the newness has worn off.

 

definitely! well explained!

 

Well if you're anything like I, you'll always be annoyed and unimpressed with the car you have because you know its not what you really want. you'll forget about the money part of it and just be annoyed that you have to close your trunk manually like some kind of animal. If it were me, I would sell the car private party for what you can get (what are they high 30ks?) and go lease a new car that you really want

Sorry to say, I have the exact car that you want; black p2,etc, and I rode in a buddy of mine's the other day that was only p1 no light package, lane tracking, trunk closer, and I chuckled in my head at how ill-equipped it was.

Find a way to get what you want without spending much more money, it's the only way you'll be able to not kick yourself every time a black E drives by