1998 ML 320: trade or keep?
02-13-2002, 08:01 PM
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1998 ML 320: trade or keep?
I have a 1998 ML 320 with almost 60,000 miles (almost all highway). Overall, I have been happy with the vehicle. It has had some relatively minor problems which I attribute to 1st year production but otherwise it has been very reliable.
I am trying to decide if or when to trade it in. If I keep it I am afraid I will face increasing maintenance costs. I wonder if the mileage will significantly affect the trade-in value and how much less it will be worth in another year with another 10-15,000 miles on it.
If I were to trade I would possibly go for the X5, but more likely another ML. How is the build quality now for the ML compared to 1998?
Thanks.
I am trying to decide if or when to trade it in. If I keep it I am afraid I will face increasing maintenance costs. I wonder if the mileage will significantly affect the trade-in value and how much less it will be worth in another year with another 10-15,000 miles on it.
If I were to trade I would possibly go for the X5, but more likely another ML. How is the build quality now for the ML compared to 1998?
Thanks.
02-14-2002, 06:22 PM
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2000 E430 Sport Tectite
A bit of analysis:
A new ML320 is $42K + taxes.
I checked www.autotrader.com for average prices.
The average 2001 is $36,600; more than $5K less than a new 2002.
The average 2000 is $33,200. $2,400 less than previous year.
The average 1999 is $28,600. $4,600 less than previous year.
The average 1998 is $25,400. $3,200 less than previous year.
Assuming you sell for $25,400, it would take at least $17,000 more capital to have a new 2002.
That's a lot of money. Can you wait until your maintenance problems become expensive? We could define expensive as the cost of capital per year of $17K + (5K less than this year?) = $22K.
I'd like to hear your views on these numbers. Unless there are tax consequences of buying another 6K GVWR business vehicle, I wouldn't be in a hurry to sell a vehicle that hasn't shown signs of expensive repairs to come.
I checked www.autotrader.com for average prices.
The average 2001 is $36,600; more than $5K less than a new 2002.
The average 2000 is $33,200. $2,400 less than previous year.
The average 1999 is $28,600. $4,600 less than previous year.
The average 1998 is $25,400. $3,200 less than previous year.
Assuming you sell for $25,400, it would take at least $17,000 more capital to have a new 2002.
That's a lot of money. Can you wait until your maintenance problems become expensive? We could define expensive as the cost of capital per year of $17K + (5K less than this year?) = $22K.
I'd like to hear your views on these numbers. Unless there are tax consequences of buying another 6K GVWR business vehicle, I wouldn't be in a hurry to sell a vehicle that hasn't shown signs of expensive repairs to come.
