Jim Brady

Just traded by '19 G550 with 22k miles on a 22 G63. I needed to pull the trigger as my corporations fiscal year closes this month and I wanted to take advantage of IRC 179 business deduction for vehicles (bus equipment) over 6000 GVW. This is the last year you can take a 100% depreciation with bonus. I noticed in the two weeks i was looking, prices on the G63's dropped significantly largely due to the interest rates. MB financial went from 2.99 to 6.99! I saw prices drop on '21's G63 drop $25-50K in a week.
I was happy with the G550 as I took it off roading had Nitto Ridger Runners (fyi great on and off road tires). But I'm more happy with G63!
aka Jimmy

hksnlper

I suggest reach out to MB Woodlands. I used them I also received a similar offer from MB Greenway. I think the demand in Houston TX is still high for some reason.

thomasjo

Same issue here... I have a beautiful black 2021 G550 with only 1900 miles...pristine!!

Listed for a while trying to get top dollar. Got a bunch of low ball offers. And then crickets 1 month ago! Not a single inquiry since!

It is on Cargurus for $173K which appears to be the best price for a 2021 with low miles, but no interest whatsoever. Went to dealer yesterday and was offered $150K. If they offer this, you know they plan to list at $170K or so.

That is the nature of supply and demand. I guess we missed the window of opportunity.

But for any readers that know somebody looking, mine is available for a very good price!

For any dealers reading this, I am looking to trade down to a new GLB.

But for now, I will continue to enjoy the G wagon and just yesterday got oogled by a motorhead at a fast food restaurant and got a wave from a passing G wagon on the road!

Good luck to all sellers and shoppers!

streborx

When interest rates were cut to zero by the Fed, it unleashed economic demand for houses and automobiles (which was the intent). Prices were bid up well over existing market value entirely because people could get cheap money. Prices in both sectors are now sinking, and hopefully those who are now underwater can continue to make payments, or it'll be 2008 all over again. If I were in the market for either a house or a G, I'd be waiting a few more months, because IMO we've not yet hit rock bottom (assuming I am not relying on financing). IIWY, I'd sell the G now and wait for the 5%+ financing rates to moderate the market to the point that dealers are selling below MSRP. But if your G and the GLB are both financed, I'd do both deals ASAP.

gokro

Dealer may list it for 187 but the final sale price is likely to be lower. Let’s say discount to $170k. From that, one needs to take out expenses. Let’s say 5k if it sells quickly. That leaves a profit of 15k (and that’s assuming best case scenario). So, about 10%.
what do you feel is a fair profit you can live with, considering that the dealer is putting up cash and gambling that the market doesn’t drop, leaving him to sell it at a loss?

streborx

My dealer complimentary Carfax reports had last listed a trade valuation in March, and indicated $178K. Valuations went dark since then, but appeared again in August's report, which lists $151K (for an estimated 2K mile odometer increase). Clearly, resale values are moderating if Carfax statistics are credible.

silverclky

A local dealer offered my $205k for my '21 G63 contingent on trading it for a '22 G63 for only $299k. A NY dealer claims to be willing to move units @ $25k ADM

streborx

$299K seems a bit high even with no trade, IMO.

Azzurri

300k seems pretty high.

places

300K is too high.

silverclky

Agree...they are trying to offset the higher trade value by jacking up the sales price of the new car. Either way they have profit baked in.

Venom-AMG

I think market for new 2022 is $40-50k ADM right now. you should be able to sale your 2021 for $190k easily, $200k not very hard if you have the right color and options.

newyorktoLA

I think $190-200 might be hard if in SoCal - used, not high mileage 2021s are selling for around 200-210 now.

Hodog16

Yeah the price increase makes it a very interesting market where used 2021s over sticker may make more sense than new 2022 with crazy ADM for the same vehicle.

streborx

My dealer has 3 G63s listed at +$100K and 1 G550 listed at +$50K, all on-lot. Hard to say what they'll sell for, but I think prices and demand are cooling a bit -- half as much ADM seems more realistic.

Venom-AMG

My dealer, South bay mercedes sent me an offer for $40k over on 2022 G63. Prices are coming down just a bit.

streborx

The '19 G550 (23K) that been listed on Inringhausen for the past 7 months dropped another $4K to $156K this week. Prices are cooling off.

places

still too high IMO.

streborx

Carfax just dropped my '19 G550's trade value by another $6500 in a week's time -- it's now down to its MSRP. A total $25K drop in 6 months.

places

No one wants to catch a falling knife. Until prices stabilize inventory will pile.

Jim Brady

Wholesale is around $135K now in big metro areas. Just traded a '19 G550 w 22K on a new 21 G63. diff is 95K. Needed to take write of on IRC 179 this month.

Calig63

You're probably looking at about 50k over msrp still. I wouldn't expect it to get better, so if you're going to sell, I think now is the time.

streborx

This month's Carfax report pegs my '19 G550 at $3K below MSRP. Meanwhile, my dealer is badgering me with emails and letters to consider letting them buy it.

Used vehicles are especially profitable for them because the add-ons like extended warranties are an easy sell.

streborx

Dealer is now offering through Carfax MSRP minus $9K for my '19 G550 / 15K miles -- down somewhat from MSRP + $35K 6 months ago.

"The times they are a'changin".