Preowned market softening?
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Out Of Control!!
Joined: Sep 2018
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From: unbegrenzt
2017 GLE350 4MATIC
Preowned market softening?
Looking for feedback from people actively engaged in a negotiation with a car salesperson, or targeting a transaction in approx 60 days. What is the market like? How are you finding willingness to move on price or get creative with ways to close a deal?
Mannheim/*** data indicates sales volume is slowing and price is dropping for preowned units, particularly luxury brands and SUV models. Cargurus price trend data says the same thing. Three salespeople across the country agree with me the market has indeed softened and it has changed "for sure".
I see new units listed coming on the market at lower prices than comparably equipped/year/etc units which have been listed for a while.
What is current best practice for negotiating a better price?
Mannheim/*** data indicates sales volume is slowing and price is dropping for preowned units, particularly luxury brands and SUV models. Cargurus price trend data says the same thing. Three salespeople across the country agree with me the market has indeed softened and it has changed "for sure".
I see new units listed coming on the market at lower prices than comparably equipped/year/etc units which have been listed for a while.
What is current best practice for negotiating a better price?
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Joined: Oct 2009
Posts: 6,987
Likes: 2,187
From: Colorado
'21 AMG53 wDPP & ARC, 19 GLC300 - Former-03 C240,2 ML BlueTecs,20 GLE450 E-ABC,15 Cayenne D,17 Macan
First decide whether it's a Deal you're shopping for or a Car. It's important to know that. It helps to remember that as you negotiate.
Shop, pick the one car you want and try to buy it.
Make sure the Dealer knows that you Can and Will Buy that car Now.
Don't quit.
If you don't succeed on that car, then move on to the next one.
It's not an ego thing - it's a transaction.
Get everything in writing, and leave a deposit that they cash (no Hold Checks).
Shop, pick the one car you want and try to buy it.
Make sure the Dealer knows that you Can and Will Buy that car Now.
Don't quit.
If you don't succeed on that car, then move on to the next one.
It's not an ego thing - it's a transaction.
Get everything in writing, and leave a deposit that they cash (no Hold Checks).
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From: FL
2025 GLE 450, 2022 AMG GLE 53
Thread Starter
Out Of Control!!
Joined: Sep 2018
Posts: 14,666
Likes: 4,568
From: unbegrenzt
2017 GLE350 4MATIC
MBWorld Fanatic!
Joined: Oct 2009
Posts: 6,987
Likes: 2,187
From: Colorado
'21 AMG53 wDPP & ARC, 19 GLC300 - Former-03 C240,2 ML BlueTecs,20 GLE450 E-ABC,15 Cayenne D,17 Macan
I watch "Days Supply" for the quickest indicator of supply / demand trends. Both New and Used, since they do interact.
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MBWorld Fanatic!
Joined: Apr 2019
Posts: 1,564
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From: Scottsdale AZ
2015 CLS 550 2015 ML 400 Previous 2020 GLB 250 2019 A 220 2005 ML 350 1989 300 E 2001 SL 500
Looking for feedback from people actively engaged in a negotiation with a car salesperson, or targeting a transaction in approx 60 days. What is the market like? How are you finding willingness to move on price or get creative with ways to close a deal?
Mannheim/*** data indicates sales volume is slowing and price is dropping for preowned units, particularly luxury brands and SUV models. Cargurus price trend data says the same thing. Three salespeople across the country agree with me the market has indeed softened and it has changed "for sure".
I see new units listed coming on the market at lower prices than comparably equipped/year/etc units which have been listed for a while.
What is current best practice for negotiating a better price?
Mannheim/*** data indicates sales volume is slowing and price is dropping for preowned units, particularly luxury brands and SUV models. Cargurus price trend data says the same thing. Three salespeople across the country agree with me the market has indeed softened and it has changed "for sure".
I see new units listed coming on the market at lower prices than comparably equipped/year/etc units which have been listed for a while.
What is current best practice for negotiating a better price?
Prices on non luxury cars are softening, some by quite a bit. Luxury cars are a mixed bag. Prices are still high but in general are coming down.
Regardless, dealers don't advertise inflated pricing anymore. Walking into a dealership and offering $10k less than the posted price is a non starter.
Most of the time you will find negotiation range is $2000 or less. Especially if it is fresh merchandise. Check the fine print in the dealers ad and see if there is any charges for "shop fee" or "reconditioning fee"
Some dealers will advertise a below market price and load up on the fees.
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Joined: May 2022
Posts: 246
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From: 757
AMG GLE63S, X5M Comp, CTT, ZO6, Raptor
Great data and information confirming what I was experiencing while on the hunt for the 2022/2023 GLE AMG and even looked at some ultra low mile 2021 for comparison. Gotta love the data
Thread Starter
Out Of Control!!
Joined: Sep 2018
Posts: 14,666
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From: unbegrenzt
2017 GLE350 4MATIC
Frankly, it depends on the car you are trying to buy. Some used cars are still in short supply and will bring top dollar with little or no negotiation.
Prices on non luxury cars are softening, some by quite a bit. Luxury cars are a mixed bag. Prices are still high but in general are coming down.
Regardless, dealers don't advertise inflated pricing anymore. Walking into a dealership and offering $10k less than the posted price is a non starter.
Most of the time you will find negotiation range is $2000 or less. Especially if it is fresh merchandise. Check the fine print in the dealers ad and see if there is any charges for "shop fee" or "reconditioning fee"
Some dealers will advertise a below market price and load up on the fees.
Prices on non luxury cars are softening, some by quite a bit. Luxury cars are a mixed bag. Prices are still high but in general are coming down.
Regardless, dealers don't advertise inflated pricing anymore. Walking into a dealership and offering $10k less than the posted price is a non starter.
Most of the time you will find negotiation range is $2000 or less. Especially if it is fresh merchandise. Check the fine print in the dealers ad and see if there is any charges for "shop fee" or "reconditioning fee"
Some dealers will advertise a below market price and load up on the fees.
It seems like sellers are confused on pricing because newer, better equipped units are priced at the same or lower prices, with comparable mileage.
Lots of preowned, and new, product is coming on the market so I see prices continuing downward.
Last edited by chassis; Oct 9, 2022 at 09:09 PM.
Member
Joined: May 2022
Posts: 246
Likes: 67
From: 757
AMG GLE63S, X5M Comp, CTT, ZO6, Raptor
Just watch some vehicles… prices are dropping and fast.
Stealers, god bless them, will try to hang on to the glory days. Unnecessarily high interest rates - how’d that happen… Who can we thank for that, 🤔. Don’t answer, for fear your constitutional rights will be infringed.
Prices and purchases will all decline and some will say it’s OK or normal. True and not true when the cause is a deliberate set of actions. Markets in all areas will suffer and the blame game will be the soup du jour. Personally I feel the old saying I can recall my grandparents repeating comes to mind, “a fool and his money are soon departed” but by all means allow stealers to get ADM. Consumers are the ones in power not sellers, “just say no” as the wife of a great president once said.
Guess it is “quotes” Monday - 😎
Stealers, god bless them, will try to hang on to the glory days. Unnecessarily high interest rates - how’d that happen… Who can we thank for that, 🤔. Don’t answer, for fear your constitutional rights will be infringed.
Prices and purchases will all decline and some will say it’s OK or normal. True and not true when the cause is a deliberate set of actions. Markets in all areas will suffer and the blame game will be the soup du jour. Personally I feel the old saying I can recall my grandparents repeating comes to mind, “a fool and his money are soon departed” but by all means allow stealers to get ADM. Consumers are the ones in power not sellers, “just say no” as the wife of a great president once said.
Guess it is “quotes” Monday - 😎
Last edited by Vyper340vb; Oct 10, 2022 at 08:35 AM.
Super Member
Joined: Dec 2021
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From: Ohio
'16 C450, '21 Dad Wagon Pilot, '22 Wrangler 4xe
Yes, the market is softening. Trade values are WAY down.
More pedestrian models (CLA, C, GLB, GLC for MB) can be had below MSRP at times. The larger models that are not as often financed (GLE, GLS, S) are not falling as hard, they are still in relatively short supply and high demand.
More pedestrian models (CLA, C, GLB, GLC for MB) can be had below MSRP at times. The larger models that are not as often financed (GLE, GLS, S) are not falling as hard, they are still in relatively short supply and high demand.
Thread Starter
Out Of Control!!
Joined: Sep 2018
Posts: 14,666
Likes: 4,568
From: unbegrenzt
2017 GLE350 4MATIC
Yes, the market is softening. Trade values are WAY down.
More pedestrian models (CLA, C, GLB, GLC for MB) can be had below MSRP at times. The larger models that are not as often financed (GLE, GLS, S) are not falling as hard, they are still in relatively short supply and high demand.
More pedestrian models (CLA, C, GLB, GLC for MB) can be had below MSRP at times. The larger models that are not as often financed (GLE, GLS, S) are not falling as hard, they are still in relatively short supply and high demand.
Porsche dealer has slim pickings for preowned and new units in the showroom are sold.
Last edited by chassis; Oct 10, 2022 at 10:11 AM.
MBWorld Fanatic!
Joined: Apr 2019
Posts: 1,564
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From: Scottsdale AZ
2015 CLS 550 2015 ML 400 Previous 2020 GLB 250 2019 A 220 2005 ML 350 1989 300 E 2001 SL 500
I engaged with a dealer salesperson on a unit and he suggested $1,000 (reduction) could be manageable but I made it clear I was expecting more. I just received a notification that the listed price has been reduced by $1,000 so the question in a week or two (if the unit is still available) is: "Where are we now?"
It seems like sellers are confused on pricing because newer, better equipped units are priced at the same or lower prices, with comparable mileage.
Lots of preowned, and new, product is coming on the market so I see prices continuing downward.
It seems like sellers are confused on pricing because newer, better equipped units are priced at the same or lower prices, with comparable mileage.
Lots of preowned, and new, product is coming on the market so I see prices continuing downward.
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From: Land of 10,000 lakes
AMG GTC Roadster, E63s Ed.1, M8 Comp. Coupe
Looking at the GLE V167 in particular, we had looked at either buying out our lease or returning the car. We checked some numbers on edmunds (with carmax offer), carvana and local dealer trade-in a couple of months back and buying the car was a no-brainer, especially with only 8k miles on it.
Reading this thread, I ran a couple numbers again today. Carvana actually increased their offer by a whopping $3500 and the Carmax dropped maybe $1000 (they used a range before and now are offering a specific price). Our dealer only has a single V167 (non-AMG); I think that car had been $1k-2k higher before.
I am sure this will change sooner rather than later but am surprised how stable the price stayed. I would have unloaded the car right away if the 23 model would have been the facelift year but any new model year will drive prices down.
Reading this thread, I ran a couple numbers again today. Carvana actually increased their offer by a whopping $3500 and the Carmax dropped maybe $1000 (they used a range before and now are offering a specific price). Our dealer only has a single V167 (non-AMG); I think that car had been $1k-2k higher before.
I am sure this will change sooner rather than later but am surprised how stable the price stayed. I would have unloaded the car right away if the 23 model would have been the facelift year but any new model year will drive prices down.
Last edited by Wolfman; Oct 10, 2022 at 07:50 PM.
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Joined: Dec 2016
Posts: 641
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From: Charlotte, NC
2024 E450 AT Wagon, 2024 EQS450+ / Had: 2021 E350, 2019 E300, 2021 + 20 GLE350, 2019 E450 Wagon(s)
My 2019 E300 trade value dropped from an offer of $40,000 in July to $35,700 which I took about three weeks ago. 28k miles, driver assist, airmatic and a few other cool things, but mb tex and non pano roof. I was over the moon happy with the $35,700, as I paid about $40K for it 18 months ago and the tires were on the wear bars. Paid too much for a 2021 E350, but it was equipped the way I wanted and the interest rate is a horrible 5%... I am figuring I need to keep the 2021 for a while, as getting my money out of this one will take a while.
