CDInewbie

Could you guys give me an estimate on how much I should be asking for private sale? And how much I could expect from dealer by trading it in?

Due to personal reasons, I may be selling my brand new 2008 ML 320 CDI. It only has about 100 miles on the clock. Of course, no accidents, freshly clean inside and out. It has heated seats but no other options. Black exterior and beige interior.

Thanks!

CDInewbie

Since there is no used car value in any of websites (kbb, edmonds, etc), if one has to go by 2007, I think the following is the difference between 2007 and 2008 models.

Max Torque: 1600 rpm instead of 1400 rpm in 2007
Maximum Towing Capacity: 7200 lbs instead of 5000 lb in 2007

power glass sunroof instead of this being an option in 2007

19 x 8.0 in. wheels instead of 17 x 7.5 in 2007
255/50R19 tires instead of 235/65R17 in 2007

universal remote transmitter (for garage door, security system, etc.) instead of this being an option in 2007

"interior active charcoal air filter" instead of "interior air filteration" in 2007

TeleAid telecommunications service instead of this being an option in 2007

Thanks,

sosh

My estimate is to Take the MSRP less the transpotation charge and subtract about 10% then take off another $6000.00. That should give you an approxamate sales price. The good news is that CDI's sell fairly quickly but the bad news is that its a "bare bones" no option vehicle that may create some difficulties as most people want lots of options.

CDInewbie

Thanks for your input.

If I did that, say about $46k MSRP...10% of that, will put it at about $41, and another $6000 off that would put it at $37,000. This is actually less about at 2007 ML 350 (cheaper than CDI) trade in value on "good" condition. With only about 100 miles, "good" condition is an understatement. This can't be right?

Do people expect to buy 2008 ML 320 CDI from private party at $37K?

Sorry, I am really a BMW nut, first time owning or disowning MB so...

08ML320CDI

high 40's for sure... dont know what you guys are talking about

blazinginder

His assessment seems to be more accurate...MSRP = $46k - 3500 = $42500 (invoice) - $3000-$5000 for being "used" = $37-39k

That doesn't even include any "under invoice" pricing dealers are willing to sell at, as they are with the 350s

howie222

I just orderd an '08 for my wife and got a couple grand off the msrp from a dealer I have done a lot of business with previously. I did a couple of national searches and talked to a few dealers with pre-owned '07's. They were asking within $500 of MSRP for used vehicles.
One dealer explained it this way: he happened to be in Pennsylvania, a state that recently passed a law outlawing this type of diesel. Therefore, they can't be sold there unless they have 7500 miles or more on them. Because of the rarity, the price on the lots is astronomical.
I think I'd start by calling dealers in those 7 or 8 states. In other states, the price was also very close to what the MSRP was.
I think with the rarity and the current fuel prices, you can do better than mentioned here.
By the way, there were very few cars available nationally (two dealers searched for me), with a lot of options. Only a few had Premium 2 and I had to order to get that, keyless go and parktronic. My point is most of these vehicles are being sold without many options.

CDInewbie

If it means anything, when I was buyig this car, dealer was more than willing to work out a "great deal" for any ML350s in the lot. But they did not want to budge at all for CDI. According to them, it's a simple supply and demand. There were a lot of ML350s in the lot (10s) and only a few of CDIs (only two). I had a fealing that I could have gotten a fully loaded (Preminum Package II or III) ML350 for the same price I paid for CDI but I still went with CDI...

I am going to try to swing by CarMax this weekend to get a ballpark idea of absolute minimum I can get. Knowing 07 ML 350 trade in is about $37k, I would guess something higher for 08 CDI...For a private sale, I am hoping to get mid to low $40k since it only has 86 miles on it. We will see.

Thank you all for your input.

sosh

Let me explain my response: The 10% off of MSRP brings the price to dealer's raw cost after his hold back. The 6000 off after that is for being used. Most people have a trade which you are unprepared to take or its unlikely would take. They also head for a dealer as opposed to buying from an ad. So, your target market is a new buyer and what can you offer that the dealer can't?? Only thing is an exceptional price. If your car was heavily optioned which it is not that would give you an advantage. Maybe your best bet is to try to sell it back to the dealer you bought from. Have you tried that??

CDInewbie

Thanks for your response again, more the same but I give you credit for taking your time again.

Does your logic apply to 15k Civic? After you take $6000 off, 2008 Civic should sell for $7500? Can you find a 2008 Civic anywhere for $7500, new or used? Hmmm...maybe there should be more to "chop off $6000" logic...

How about if one tries to sell a pristine and stock 1995 Toyota Supra? He really should get like 10k or less, right? How much do you want to bet that he will get a lot more than what the car is really worth?

Supply and demand overides your logic anywhere and anytime, plain and simple and no one can deny that.

With that said, we shall see how it will turn out. I see that you are betting on the lowest possible selling price (actually the same price as 2007 CDI trade in). Maybe so, maybe not.

08ML320CDI

I didn't see that your ML was pretty base.

Aside from that, I take back my original response and change that to low to mid/low 40's.

There is a large demand for these vehicle and people will do whatever it takes to save a couple bucks. In this case, someone can still get a virtually brand new ML for $40- $44k hopefully just the way they want it.

Regardless, good luck with the sale.

NO worries..

If you had just bought a brand new Tahoe, thats a legitimate worry, but c'mon its a diesel ML!

sosh

Yes the formula will work with a 15K Civic but the actual numbers are different. It will not work with older vehicles but only with near new vehicles and that does not include last years models. Look, you will find out soon enough what the market will say its worth. Good luck!!

CDInewbie

I am sorry but obviously your formula does not work at least for this particular car.

I got a trade in price of $40,000 at local CarMax that is good for next 7 days for 300 miles. And this is the absolute minimum I can get for the car. The car right now has about 102 miles on it.

Anyone who is interested, please PM me.

You can buy a 2008 ML320 CDI from a dealer at around $47-$48 that may have less than 50 miles.

Or you can buy my 2008 ML320 CDI for more than $40k but less than $47, and it has about 100 miles on it. Same MB warranty. I am new on MB Board but I've been on BMW boards for quite some time, had one of my highly modified BMWs featured in a magazine too, if that means anything.

sosh

My formula was for a private sale, not trade in and not a wholesale transaction to a dealer although that would be close. Try to see what someone would offer you off of the street.

CDInewbie

Ummm...are you saying I could get less with "private sale" than "trade in"? If that being the case (which I highly doubt), who would sell it to a private party when you could get more from a dealer?

If it means anything, another dealer just offered me $40500 for trade in. Well, not exactly trade in (for this dealer or carmax) since I am just selling it to them.

I can assure you that I could get more from "private sale" than trade in. I mean, come on! You are kidding me, right?

Anyways, no big deal, I think we know that your formula does not apply in this case, so let's move on.

sosh

What you said is not a trade in but a wholesale dealer sale. That too is different. The dealer, even a used car dealer has lots more to offer than you do. He has traffic, many other vehicles in inventory, he can take trades, he can offer financing and has an expensive advertising program in place. All of this usually results in a higher sales price than a private seller can get. He may even have someone already looking for one. The problem is the ML is so new that most new buyers will head for the dealership without seeking out your vehicle. I guess you were never involved with sales or marketing.

201mph

I didnt see you mention where you are located, and that will also have a bearing on price. I think the lack of options could be a problem for most retail buyers.

If you live near one of the states that just permitted these diesels (like PA and some northeast states), you'll get more there because the pent-up demand has yet to be satisfied.

Otherwise, call around to area MB dealers and see who has no diesel ML's to sell... they are on allocation in many parts of the country, while dealers I've visited recently have plenty of gas-powered ML's, R's and GL's in stock.

A dealer who lacks inventory MIGHT pay you as much as invoice less holdback (sticker less 10%) so he has one to sell. But again, I think the lack of options is not going to help.

You might also shop it to local independent "highline" dealers... they should be able to beat the Carfax number, and they like to have current year product to park out front.

Otherwise, I'd advertise it on autotrader.com or ebay. To gain buyer confidence, make sure you disclose why you are selling, and any problems or unusual service issues, if any.

Let us know how things turn out.

CDInewbie

You are deviating from the main topic of this thread and you are just piling useless common sense on top of another.

Of course dealer price is higher than private sale price and you are making it sound like a ground breaking news, oh goodness...

From a seller point of view (mine), of course I can get more money by selling it to a private party than selling it to a dealer.

From a buyer point of view, of course he can buy my car at less price than from a dealer.

So you insist on how dealer insist on providing finance. Are you with current times? Have you heard eloan or other places that will cut you a check within a few days? You do not need your dealer feeding you with a spoon (giving you finance) if you go the alternate route of financing which there are plenty.

I already proven that I can get more money (even by selling it to a dealer) than you initially speculated. All you have to do it admit that your logic does not work in this case. It may work on other car(s) on other day(s), but not this time. So please climb down from your high chair, stop piling on useless common sense to defend yourself because there really is nothing to defend, only something you said that did not turn out to be true.

201mph:
Thanks for your input. I agree that other dealer(s) may give me more money for the car. But I am not sure if the difference will be worth the trouble (my time, accumulating miles on this new car, etc...). I can get 40500 already by selling it to a local dealer or 40000 from CarMax. The invoice is 41500, so I doubt I will get much more than 40500 from any MB dealers.

I may try the autotrader route. But then, I would not want to deal with tire kickers who may just put on more miles on the car by test driving it. I drove this car only twice. Once from MB dealer to my house. Another time when I went to CarMax. Other than that, it's been parked in my garage because I know I am going to sell the car. Absolutely no issues inside and out, show room condition garanteed.

The reason for selling. I initially had BMW M Roadster, BMW M5, BMW 330xi (for my wife). Then this ML was handed to me only a couple of weeks ago. I thought about using it for winter. But instead, I sold my M5 and got myself an Audi A8. So, I now have luxury & sporty car and really do not have the use for ML at this time. I should be getting the title this week so I may just sell it to CarMax/dealer and be done with it rather than trying to milk every dollar out of it, wasting my time and resource in the proces.

blazinginder

did you but it or was it "handed to you" (I just had it ask)

The A8 is one hell of a car, enjoy it

I suggest you just get rid of it with the dealer...much less hassle then having to go back and forth with private buyers who may or may not know what they have to do etc and may even stretch out the whole thing. That said, if you can get invoice for the car (depending on the market) and that extra 1k is worth the work, that may be an option as well.

Richard / E320

It's like real estate; the price is based on what a BUYER is willing to pay and what the SELLER is willing to let it go for- all the numbers are just estimates or opinions of value, unless someone here makes you an offer.

It seems that you are a little offended at some of the replies, but you shouldn't be. YOU decide what you are willing to sell it for and then sell it! If it doesn't sell for the price YOU thought it was worth, then lower it. No sense in challenging some here because of their replies; you did originally ask the question of what it should sell for and based on your responses to a few posts, you clearly already know what you want for the ML. No need to justify that price you have in mind, other than to who ever shows up to look at the ML. That's the person you have to convince that your price is fair...

blazinginder

except for the fact that real estate usually appreciates when almost NO new "normal" benz will ever appreciate...let alone any mass produced car for that matter

Richard / E320

Have you been reading the news regarding home buyers, the subprime loans over the last 12-18 months and how it's wiped out billions of dollars of home equity?

The point to my posting "It's like real estate; the price is based on what a BUYER is willing to pay and what the SELLER is willing to let it go for"- is still valid... it takes a willing buyer and a willing seller to establish a price. While the Kelly Blue Book or NADA is a guide to pricing, no two vehicles, while similar, are exactly alike, so pricing and the actual sales prices tend to very, due to whatever a willing BUYER and a willing SELLER negotiate. I don't think I stated anything about vehicles 'appreciating' in value like real estate...

blazinginder

Yes...I have, but generally speaking house values appreciate as they did for those whole sold their homes during the peak of the real estate boom which has now taken a hit

I know what you're saying with supply/demand, at the end of the day though he won't be able to turn over the car for a profit rather a loss and it depends on people's willingness to come to agreement in price and every week/month that goes by, the average price people are willing to pay for it will only decrease

Richard / E320

I agree that trying to sell a brand-new used vehicle results in a loss to the original buyer; it's hard to come close to breaking even, with instant depreciation, sales tax and license fees. While I think the seller can do better than a $6,000 loss plus the sales tax and license, it can be tough to sell a new vehicle for anything close to the original price, especially one that isn't equipped like most ML buyers' want.

And typically, when you list an almost new model vehicle for sale, every potential buyer and dealer around calls you and low-***** you...

blazinginder

I concur...I hope he gets a decent price and/or finds someone who's looking for an ML diesel with just the basics in which case it'd work out great for both parties