Help with 2014 E350 CPO negotiations
 

Hello!

I've been a longtime lurker and finally joined to seek help with a 2014 CPO purchase. It's an E350 with 29k miles. It has the following optional accessories: P01, 137, 167, 287, 289, 881, 889, and 993. Originally listed as $47k which I thought was absurd. It has been sitting on the dealer lot for almost 3.5 months and they just "reduced" it to $40k.

I've found similarly spec'd CPO vehicles within 100 miles starting around $38-$39k.

Best case scenario for me is to try to get the car out the door at $35k. Worst case scenario would be to get the car at $35k plus TTL.

At what point will a dealer cut it losses? I mean, I'm sure they hate having a car take up a spot for almost 4 months.

Any ideas/strategies to get me there?

I am also in a similar situation and would like some advice. I have a thread on wanting to purchase a e550 at end of lease. Getting it CPO would cost me an extra 5k$ but I'd I buy it at residual I only get the residual warranty... Would eventually have to purchase and extended warranty before the manufacturer's ends (1 year left).

Fair market range on kbb is between 35k-40k for non 4matic. So I would say in my opinion there may be some wiggle room but I highly doubt all the way down to 35k. As for the car sitting on the lot, my local dealership had a car on the lot for over a year so that probably isnt going to play into there decision but all dealers are different. Your best bet is to walk in, make your offer and see what they say. If they won't budge give them your number and tell them to call when they want to sell the car. You seem like you have an idea of what you want to pay so you shouldn't have a problem walking out if you don't get it. All the best to you and good luck finding a car you will love it when you do!

PS. it took me 6 months to find my last car before my 2015 in the right price range and clean carfax.

You said there are similarly spec'd CPO vehicles within 100 miles starting around $38-$39k, so why are you not buying those cars. There must be something about this particular car that is different. If the dealer just drop the price by $7000, it will be close to impossible for them to drop it another $5000. I think you will be lucky if you can get them to drop it another $500, forget the $5000. Dealers will not sell a car at a lost this soon, they will look at all avenues such as wholesale or auction before considering selling at a lost. The differentiator here is how much did the dealer pay for that car. If the dealer paid a lot, they might hang onto it for another year before considering their options.

Does this car have an option that the others don't? What is the dealer's rationale for pricing the car that way.

If you like the car then go to Edmunds, KBB and TrueCar, price out the car with those options and mileage and bring that, along with the comps from other dealers, to the dealer and say "I like this car but it appears to be far more expensive than the comps. Why should I buy this car?"

The way the dealer responds will show you if you even want to buy anything from them.

Sometimes buying from a local dealer that is only a few minutes away it worth another couple grand. That's in case you have to get warranty work or CPO work done, you have more leverage

Thanks for all the responses. Convenience is definitely a factor and you're right, if they can't come down to where other comp cars are then I'll walk away. Good thing is that I have a pre-approval for a certain amount anyways, so if they go over that, it won't happen.

This car doesn't have anything that would make me choose it over the comps (besides convenience). I'll definitely print out the comps and bring them with me. Hopefully being a return customer to the dealership will help.

Thanks again for the help and ideas. I'll keep y'all informed as we head out there tomorrow to test drive again and begin negotiations.

Your best price is typically at the end of the month so if you can't make a deal, walk out and try one last time on Monday. Those are some good options, but no parktronic or pano roof? Mb-Tex or real leather? Distronic and vented seats? Driver assistance package and curve illumination?