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So I was at my local MB dealer earlier today getting my car washed while sampling their snacks and showroom cars and was asked by a salesperson if I was interested in selling my car. My sense was they were really wanting me to buy a new or CPO model, but I took them up on their 10 minute appraisal offer. For your info here are the basics on my car:
2011 E550
black
93k miles
luxury trim
4matic
airmatic
P2 package
no distronic or night vision
good condition and maintained by the same dealer
Their offer came in at $10,869 and I wasn't going to waste any more time there so I went on my way with an extra cookie for punitive damages. Sure doesn't drive like an $11k car. But to my surprise, the online valuation websites weren't far off. For average trade in, NADA showed $12k and Edmunds showed $10k. Retail estimates were $14-16k. If I could stand the hassle, selling privately might work in my favor since the CarMax extended warranty has another year or 7k miles left (and it is transferable).
Even more sobering, if I had bought the 2014 Accord Touring (instead of my used 2011 E550) for the same money 5 years ago, that car has a trade in value of $15-16k and retail of $17-19k depending on who you ask. But then I wouldn't have known the joys and pains of owning a Mercedes.
The V8 is intoxicating in these cars and there are minimal competitors in this performance spectrum. Your warranty has really paid off and with all of the new gear you recently had repaired you should drive the wheels off of it!
Blame dealer's high repair pricing for value of those cars going like Junkers Ju 88 over Great Britain.
I bought newer car and need to get rid of my 2008 Bluetec. Car is pristine and still taken as new, yet with high mileage BB value is $2400.
I am thinking about parking the car and keep if for few years in no-op status as it can't get lower in value than it already has. Can it?
Every time I stop in for a wash I'm approached to trade in my car. Promise "above market" pricing lol.
No thanks.
It may not be worth much in today's market but the delta $$ between this car and a newer one is not worth it to me.
Every time I stop in for a wash I'm approached to trade in my car. Promise "above market" pricing lol.
No thanks..
You wash your car at stealership?
They always starve for business and will try to hook you.
The same is in real estate, when you try to sell your house. Even when market takes nose dive, the agent when ask, will tell you "market is hot, list your house now"
I use the dealership free wash when I can. It’s in a separate building and no one ever bothers me. It’s a full blown wash facility and they do a fantastic job.
Motorwerks in Hoffmann Estates.
The V8 is intoxicating in these cars and there are minimal competitors in this performance spectrum. Your warranty has really paid off and with all of the new gear you recently had repaired you should drive the wheels off of it!
The V8 is fantastic. Anytime I test drive another car and get back in mine I recall how much I love the V8. But with my short commute and driving style it is kind of wasted on me.
Yes, the warranty had paid off but those repairs have made me wary of owning the car out of warranty. If I didn't have the warranty I am not sure I would still have the car. Another 7k miles and it's on my dime.
Originally Posted by kajtek1
Blame dealer's high repair pricing for value of those cars going like Junkers Ju 88 over Great Britain.
I bought newer car and need to get rid of my 2008 Bluetec. Car is pristine and still taken as new, yet with high mileage BB value is $2400.
I am thinking about parking the car and keep if for few years in no-op status as it can't get lower in value than it already has. Can it?
I foolishly thought that a luxury car might level off and maintain a higher base value but I guess I was wrong. Most used buyers are looking for value and something that's cheap to maintain. I am sure there is a market for my car but it may be smaller one.
Originally Posted by Mud
Every time I stop in for a wash I'm approached to trade in my car. Promise "above market" pricing lol.
No thanks.
It may not be worth much in today's market but the delta $$ between this car and a newer one is not worth it to me.
In my case, my family needs are changing - my next car will likely be something I can hand off to my teenager after a few years with a low cost of ownership that can last them through college. I can't turn over this car to a kid.
I foolishly thought that a luxury car might level off and maintain a higher base value but I guess I was wrong. Most used buyers are looking for value and something that's cheap to maintain. I am sure there is a market for my car but it may be smaller one.
For Mercedes it's worse, they depreciate more than Japanese cars that cost much less. I noticed at one point a used Acura TL was selling for about the same price of an equivalent E350 even though it had a much lower base price and less well equipped.
On the other hand, they're great as used cars, massive deprecation. Of course one you hop on, the depreciation ride continues. I think my 2008 is worth around 8k and I paid over 18k for it a little over 4 years ago so the deprecation continues. But that means I'm eyeing some 2014+ which are in the 20-25k range now.
2014 E350 also restored: 1969 Camaro convertible SS 1957 Chevy Belair 2dr hardtop
Originally Posted by KEY08
I use the dealership free wash when I can. It’s in a separate building and no one ever bothers me. It’s a full blown wash facility and they do a fantastic job.
Motorwerks in Hoffmann Estates.
I use motor werks in Barrington and they have a separate building also and they drive it thru and dry it while I have a bagel in the waiting room. Great service and it is free.
For Mercedes it's worse, they depreciate more than Japanese cars that cost much less. I noticed at one point a used Acura TL was selling for about the same price of an equivalent E350 even though it had a much lower base price and less well equipped.
On the other hand, they're great as used cars, massive deprecation. Of course one you hop on, the depreciation ride continues. I think my 2008 is worth around 8k and I paid over 18k for it a little over 4 years ago so the deprecation continues. But that means I'm eyeing some 2014+ which are in the 20-25k range now.
Interesting. Perhaps they bracket the value of luxury cars together since they appeal to the same group of shoppers. I think I read on here that MB's that are 7 or more years older are a fantastic value due to the shockingly low prices. If you can inspect cars yourself and DIY the maintenance, they are reasonable to own and still a high quality product. Since I don't DIY much other than the filters, components like airmatic just feel like a timebomb to me.
This doesn't have anything to do with MB, but what pains me is that I take such good care of my cars. The interiors look new and the cars are well maintained. Much better than the stuff I normally see when shopping used. However, that kind of TLC doesn't really pay off in the flooded used market. I know so many people who don't take care of their cars and just turn them in at the end of the lease or trade them in if purchased and they aren't really coming out worse than me.
Originally Posted by KEY08
I use the dealership free wash when I can. It’s in a separate building and no one ever bothers me. It’s a full blown wash facility and they do a fantastic job.
Motorwerks in Hoffmann Estates.
Originally Posted by dbldpr
I use motor werks in Barrington and they have a separate building also and they drive it thru and dry it while I have a bagel in the waiting room. Great service and it is free.
Just curious how long the wait is typically for you all the dealer car wash. The long time dealer in my area sometimes quotes times of 1.5 hours and I have been turned away before saying they have too many cars backed up. Might be better if I could go by during weekday mornings. The newer dealer in my area isn't as busy and they usually take 20-40 minutes on a Saturday.
For Mercedes it's worse, they depreciate more than Japanese cars that cost much less. I noticed at one point a used Acura TL was selling for about the same price of an equivalent E350 even though it had a much lower base price and less well equipped.
Nothing new here. I bought my first Honda Accord for list price ($5200) and sold it privately 7 years later for $3200. That said, a NEW Honda Accord V6 today sells for $35,000+, two grand more than I paid for my off-lease, 2-year old E350 with just 17,000 miles. Now let me decide... A new Accord or a slightly used MB?
When I bought my first MB for $900 under its $41,000 MSRP, then watched it depreciate 50% in the first two years, I swore I would never buy another MB (or BMW) as brand new, even though I could afford to buy two.
I had an acquaintence who paid $140K for a CL55 AMG that depreciated in 2 years to just $65K. Insane.
IMO the leasing business has really killed the upmarket sedan business. While working my Flat Badge side business, I worked with several dealers for supplies, and casually learned that NO ONE buys a new Mercedes... All of them sold for private (non-corporate) use are rented (leased). Even the multi-millionnaires and billionnaires I've met LEASE their MBs or BMWs. They may have a 10-car garage and 3 MBs, among Porsches and an exotic, or two... but excluding the collector car or two, the new daily drivers are almost all leased.
Originally Posted by cetialpha5
On the other hand, they're great as used cars, massive deprecation. Of course one you hop on, the depreciation ride continues. I think my 2008 is worth around 8k and I paid over 18k for it a little over 4 years ago so the deprecation continues. But that means I'm eyeing some 2014+ which are in the 20-25k range now.
In my experience, MBs depreciate massively the first 3 years, then slow to a normal rate of depreciation for the next 5 years or so. After 8 years or so, no one who can afford a new MB will look twice (or even once) at it, and the secondary market (we guys) start to weigh the cost of mtce as worth more than the car. My 18 year old C320 is in immaculate shape with far less than normal mileage, yet its trade in value is about $500.
2014 E350 also restored: 1969 Camaro convertible SS 1957 Chevy Belair 2dr hardtop
Originally Posted by thefisch
Interesting. Perhaps they bracket the value of luxury cars together since they appeal to the same group of shoppers. I think I read on here that MB's that are 7 or more years older are a fantastic value due to the shockingly low prices. If you can inspect cars yourself and DIY the maintenance, they are reasonable to own and still a high quality product. Since I don't DIY much other than the filters, components like airmatic just feel like a timebomb to me.
This doesn't have anything to do with MB, but what pains me is that I take such good care of my cars. The interiors look new and the cars are well maintained. Much better than the stuff I normally see when shopping used. However, that kind of TLC doesn't really pay off in the flooded used market. I know so many people who don't take care of their cars and just turn them in at the end of the lease or trade them in if purchased and they aren't really coming out worse than me.
Just curious how long the wait is typically for you all the dealer car wash. The long time dealer in my area sometimes quotes times of 1.5 hours and I have been turned away before saying they have too many cars backed up. Might be better if I could go by during weekday mornings. The newer dealer in my area isn't as busy and they usually take 20-40 minutes on a Saturday.
Usually in and out with bagel and car wash in 10 or 15 minutes
Yikes! I would never use the wash if I had to wait long. Obviously, you need to go in the morning to avoid the rush in the late afternoon of delivering serviced cars. I'm fortunate enough to be able to stop in during the morning later in the week and the wait is usually no more than a normal car wash with a few stacked cars. Lifetime washes come with purchase and I try to take advantage of the program. I just re-upped my CPO for another 2 years with them, so more car washes coming up!
-On the hand-me-down car for your college bound kids, just buy them something practical and don't mix your needs with theirs. My kids could care less about cars, which bothered me to no end because I have always been a car nut. I bought my daughter a new Honda Fit 4 years ago for her HS graduation. She is graduating from college in May now and has 10,000 miles on it. LOL She hates driving and would rather take public transportation.
2014 E350 also restored: 1969 Camaro convertible SS 1957 Chevy Belair 2dr hardtop
Originally Posted by DFWdude
Nothing new here. I bought my first Honda Accord for list price ($5200) and sold it privately 7 years later for $3200. That said, a NEW Honda Accord V6 today sells for $35,000+, two grand more than I paid for my off-lease, 2-year old E350 with just 17,000 miles.
When I bought my first MB for $900 under its $41,000 MSRP, then watched it depreciate 50% in the first two years, I swore I would never buy another MB (or BMW) as brand new, even if I could afford it.
I had an acquaintence who paid $140K for a CL55 AMG that depreciated in 2 years to just $65K. Insane.
In my experience, MBs depreciate massively the first 3 years, then slow to a normal rate of depreciation for the next 5 years or so. After 8 years or so, no one who can afford a new MB will look twice (or even once) at it, and the secondary market (we guys) start to weigh the cost of mtce as worth more than the car. My 18 year old C320 is in immaculate shape with far less than normal mileage, yet its trade in value is about $500.
with only 13,000 miles in 5 years and less use each year. I will probably keep the car till I die. it sets in heated garage with cover on it. I bring it to the dealer about every 4th month to get it washed weather it needs it on not. It rarely is out when it rains or snows. Still looks like new.
2014 E350 also restored: 1969 Camaro convertible SS 1957 Chevy Belair 2dr hardtop
Originally Posted by KEY08
Yikes! I would never use the wash if I had to wait long. Obviously, you need to go in the morning to avoid the rush in the late afternoon of delivering serviced cars. I'm fortunate enough to be able to stop in during the morning later in the week and the wait is usually no more than a normal car wash with a few stacked cars. Lifetime washes come with purchase and I try to take advantage of the program. I just re-upped my CPO for another 2 years with them, so more car washes coming up!
-On the hand-me-down car for your college bound kids, just buy them something practical and don't mix your needs with theirs. My kids could care less about cars, which bothered me to no end because I have always been a car nut. I bought my daughter a new Honda Fit 4 years ago for her HS graduation. She is graduating from college in May now and has 10,000 miles on it. LOL She hates driving and would rather take public transportation.
I agree about the kids. We let the grandson drive the 2001 caddy when he was in high school and now he drives it when he comes home from Colorado state. He loves it because when he drives it no one bothers him because they think it is some old guy driving it. Disabled veteran plates also.
I would be getting it washed at the dealer more often if it was always 15 minutes or less or at least on my way to/from work. Kind of ruins one of the perks when you don't get to use it as much. I've paid to get it washed locally at places that are quicker or more convenient.
Originally Posted by KEY08
On the hand-me-down car for your college bound kids, just buy them something practical and don't mix your needs with theirs. My kids could care less about cars, which bothered me to no end because I have always been a car nut. I bought my daughter a new Honda Fit 4 years ago for her HS graduation. She is graduating from college in May now and has 10,000 miles on it. LOL She hates driving and would rather take public transportation.
Yeah, my kids don't care much about cars either. They never want to go looking with me. I am not looking to compromise my needs completely - I would buy a car that I would drive (sedan with nice tech and safety features) and then give it to her after I drive it for 3-5 years. She is fine with sedans. But if she doesn't want the car then she can buy her own or maybe she'll end up at a college or job location where she doesn't need car. Either way, I can keep driving it and save it for the one who is a couple years younger. I can get back to something else that suits just me eventually. Maybe I'll get an electric car then. Lately I've bounced around in my car choices - heck I drove a Prius for 8 years before my E550. The Prius would be great for her but I don't want to compromise that much. I like it for a time but not really for me again at this time.
Digressing a bit lol but my dealer is 10 min away and does a great job on the wash. My car is out of warranty but they still wash it. Then once a year I clay bar it and use Collinite wax. Looks new.
I understand about their looking for trade-ins, doesn't really bother me. I've had a great relationship with service dept. as well, maybe I just got lucky. They know I do my own work when possible and have actually pointed out stuff I can do. Any warranty work was done well, all minor clips and fasteners back in place.
Interesting. Perhaps they bracket the value of luxury cars together since they appeal to the same group of shoppers. I think I read on here that MB's that are 7 or more years older are a fantastic value due to the shockingly low prices. If you can inspect cars yourself and DIY the maintenance, they are reasonable to own and still a high quality product. Since I don't DIY much other than the filters, components like airmatic just feel like a timebomb to me.
This doesn't have anything to do with MB, but what pains me is that I take such good care of my cars. The interiors look new and the cars are well maintained. Much better than the stuff I normally see when shopping used. However, that kind of TLC doesn't really pay off in the flooded used market. I know so many people who don't take care of their cars and just turn them in at the end of the lease or trade them in if purchased and they aren't really coming out worse than me.
Just curious how long the wait is typically for you all the dealer car wash. The long time dealer in my area sometimes quotes times of 1.5 hours and I have been turned away before saying they have too many cars backed up. Might be better if I could go by during weekday mornings. The newer dealer in my area isn't as busy and they usually take 20-40 minutes on a Saturday.
I buy used and CPO cars. I keep them a long time as you can see from my sig I just unloaded my 05 C240 with 300k miles on it. Got $1,500 for it. I bought it CPO for $22,000 back in 07 with only 40k miles. Best money spent. I couldn't care less about the value of my car because depreciation is your best friend. I also take great care of my cars but the dealers do not care. I personally enjoy a clean and neat looking car because I feel good about myself knowing my lets 10 year old MB looks nicer then my sister in laws Accord that is showing its age at only a couple years old . I only had one car go up in value and that was because it was a Ferrari
with only 13,000 miles in 5 years and less use each year. I will probably keep the car till I die. it sets in heated garage with cover on it. I bring it to the dealer about every 4th month to get it washed weather it needs it on not. It rarely is out when it rains or snows. Still looks like new.
Wow! Low miles! I am at 48k miles on my 2012 E and I figured that was low.
I personally enjoy a clean and neat looking car because I feel good about myself knowing my lets 10 year old MB looks nicer then my sister in laws Accord that is showing its age at only a couple years old .
I agree with your philosophy on keeping a neat clean car. I'm pretty good about the interior but do fall behind on the exterior due to pollen, brake dust, etc. coming along faster than I can get to it. Most folks who get in my cars comment on how the interior looks new. I've been in plenty of other peoples 1 or 2 year old cars and been surprised by the condition. Or walk the lot at a Carmax and see the cleaned up version of how others treat their cars interior.
My last two cars that I sold were both 8 years old (Accord and Prius) and their interiors looked brand new. Same for my W212 except for the faded burl wood
I've learned it takes very little effort to keep a car interior clean. Principally, developing the habit to remove anything that doesn't belong there each time I exit the car does the trick. Paper trash always creates an impression (you decide whether good or bad). Dumping out the floor mats, dusting the dash and vacuuming once or twice a year doesn't hurt, either.
I also get complements on how clean my cars look inside. Outside is another matter, LOL.
I've learned it takes very little effort to keep a car interior clean. Principally, developing the habit to remove anything that doesn't belong there each time I exit the car does the trick. Paper trash always creates an impression (you decide whether good or bad). Dumping out the floor mats, dusting the dash and vacuuming once or twice a year doesn't hurt, either.
I also get complements on how clean my cars look inside. Outside is another matter, LOL.
Yup, it's not rocket science but maybe it is as most people can't figure it out. If people can't clean up spills in their car, imagine what their homes must be like.
Those are pictures taken from RE listing in my area. "Million dollars house" is bank own and put those people in the house few months ago. I assume those people live in prime house for free in exchange for "taking care"
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I just unloaded my 05 C240 with 300k miles on it. Got $1,500 for it. I bought it CPO for $22,000 back in 07 with only 40k miles. Best money spent. I couldn't care less about the value of my car because depreciation is your best friend. I also take great care of my cars but the dealers do not care. I personally enjoy a clean and neat looking car because I feel good about myself knowing my lets 10 year old MB looks nicer then my sister in laws Accord that is showing its age at only a couple years old 
. I only had one car go up in value and that was because it was a Ferrari 
