Hello everyone

I am considering purchasing a 2007 SL55 AMG - Blk/Blk w/around 23-28K miles - and want to make sure that the price is a good one. I was wondering what these are going for at auction, and what can I expect to get for it if I were to turn around and sell it immediately? Seems like they are getting $63K at auction and I can turn around and sell it for $68-69K -- Is this realistic or not?

Thanks!

 

If you have access to Manheim Auction reports you'll see that this WAY is too much.

$ 58K would be 'OK,' but still too much for Blk/Blk with those miles. To bring that price would mean the car is 15K or below in miles.

Personally, $ 55 would be the top.

Here are this week's numbers for the 2007 SL55 AMG: (7 sold in last 7 days):

Above Avg: $60,000 / Average: $56,300 / Below: $ 52,300
Mileage: AA = 17,716 / Avg = 35,431 / Below = 53,147

Retail @ above cond + miles: $66,000 $61,000 $57,000

On the positive end, these cars are not estimated to depreciate any in the next 11 months. Retail Now: (Avg Cond + Miles) $ 61,000 vs Feb 2010: $ 59,100.

So, the big hit has been taken on 2007's at this moment. It's a good time to buy, but again, not at anything over $ 50,000.

 

It seems good that the SL55's wont depreciate in 11 months

However, I'm wondering how you are getting these retail figures. Selling private-private takes away sales tax, which means @ 7% a car with approximately 25K miles and Above average would go for $63K at retail, or adding $4410 for the savings in sales tax, $67410 between private parties. However, even a car in above average condition needs probably some new wheels on a couple tires, a bit of paintwork, and some repair hours probably totaling 10-15 hours. That adds maybe around $700 in refurbishing fees, plus time you take to bring it into MB to get minor things replaced in the car, plus $700 in Manheim auction fees. Now, I thank you for your help, but that brings a car like mine to this conclusion:

$57500 Car Retail
$700 Manheim Auction Fees
$700 Refurbishing Costs

Thats approximately $59K even right out the door for a dealer. How am I supposed to buy something decent at under $50K? not even the below average high mileage junk at Manheim is going for under $50K.

Should my offer to the dealer be $55K? Because I am looking at your manheim price reports and I see that a comparable car goes at Manheim for $58K -- I'm just wondering, I'm not trying to be rude or anything, but I remember when I was looking at Manheim numbers and said I would only pay $2-3K more than those figures, but considering all the work that needs to go to even an above average car (The ones rated 4 on the scale I believe) + auction fees + dealer profit, I think it would be a bit foolish of me to walk into the dealer and demand the car be priced so low. Am I right, or am I on the wrong track?

 

It is very difficult to get retail money for anything at the moment. Most people are only buying deals.

 

that $50k number is obviously Offer 60

 

No, I don't think you are wrong at all, but let's get on the same page.

First let's realize that we're probably not talking 'apples to apples' -- as condition and miles are the two primary variables, (color and options factor in as well). Also, sales taxes are variable by state, so I'm not considering any sales tax.

In my opinion, all you can do is go by what the prices that are being paid now are. Not last month or last fall. That being said, sure condition and miles can make a $ 20,000 difference.

I think the Manheim figures are usually a pretty good indication, (i.e. current market conditions), and I do agree that $ 2,000 - 3,000 over that is fair.

I have found Manheim rated cars in above average condition to be that, very nice, and 'excellent' for a car such as a 2 year old Mercedes. Certainly, stay away from high mileage, or any below average rated car.

In short, be patient, I think it will pay off handsomely, as the supply of cars coming off of 2 - 3 year leases exceeds the demand, regardless of what the dealer tells you. Those cars have to be sold, and will be, at market conditions.

 

Correct, my mistake. I meant to say 'Over $ 60.'

 

$60k is good retail price for an 07 with 25-30k miles.

alex
few cars

 

On the positive end, these cars are not estimated to depreciate any in the next 11 months. Retail Now: (Avg Cond + Miles) $ 61,000 vs Feb 2010: $ 59,100.

This is good news, what is your source? Is this coming out of Manheim?

 

unlikely. they will be 50k retail next year at this time. maybe even late autumn this year.

alex
few cars

 

Thanks for all your help, you guys have been very helpful, I just have one last question

Can anyone provide Manheim auction prices (either via PM or on the forum) on an 07 SL55? I'd just like to see what specific mileage/color combinations are going for

Thanks!

 

Try to find an 2007 SL55 with the 030 Performance Package you will not pay much for this option on a used SL55 and its worth the search Limted Slip, wheels, and the front ground effects make the car special it will hold up its value better down the road. sterring wheel and gear shifter is different
New this option is almost 15 thousand dollars.

AMGBENZ
2006 SL55 AMG with 030 Sold looking for anther or SL63 with 030
2005 Range Rover Westminster

 

So you are saying right now you won't pay a premium for a 030 car vs a plain SL55, but magically down the road it will be worth more than a normal SL55 because it has the 030 option? Isn't that contradictory???

 

I am just saying that the 030 cars are rare and in this economy dealers do not seem to care about the 030 on used SL55s so you will not pay much for the factory 15K option. but 10 years from now you will have a package that most did not have. I would not buy the 030 package for resale value I would buy it because I like the AMG Nurburgring Suspension, Limited slip, wheels, and front ground effects. I have had both and prefer the 030 its a great value if you can find one for sale.

Anyone that has the 030 performance package knows that its great additon to the already great SL55

Just trying to help this SL55 buyer get the best SL55 for the money

AMGBENZ
2006 SL55 AMG With 030 (Sold)
2005 Range Rover Westminster

 

Thanks for all your help guys, just got my SL55, Black/Black, but just a few tips that I'd like to share:

There is in no way that you can take an Above Average Car, add $2-3K on it, and think its retail priced.

Above Cars (4.0 rating) at Manheim go for $56-58K with mileage in the 20s on an 07 SL55. After Manheim Fees (Add $800), Transporting Costs (Add approx $400), advertising costs (For small Dealers Add $200), New Tires (Lets say 1 or 2 on average so add $450), Detail (Add $75), you've just added $1925 to the price of the car and thats not including dealer's licenscing, office space needed for the license, etc. You also have to take it into MB to get it fixed for small things, and maybe your car is missing a CD Changer or MB Phone that was standard when it was new.

I'd say if a car is going at $58K at Manheim, you should be looking at paying $4-5K above that at least + sales tax. That being said, it is a great value at $62-63K to have this kind of car, with under 30K miles driven so sparingly, with 510 horses under the hood. Now if I could figure out whats wrong with the massage/ventilated seats that wont massage/cool properly!

Thanks!