SL55/63/65/R230 AMG: Trading in SL500 for an SL55
Thread Starter
Senior Member
Joined: Feb 2004
Posts: 257
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From: Colts Neck, NJ
08 CL600 Black
Trading in SL500 for an SL55
I'm debating whether I should trade-in my month-old SL500 for an SL55?? My dealer will take back my '04 SL500 for $79,500 with only 1k miles on it. He sold it to me for $91k a month ago. Is that a fair trade-in price?
And he's giving me a $3600 discount on the SL55. I think the discount on the SL55 is awesome considering they are always sold at msrp or more. But I don't think I'm getting a good deal on my trade.
What does everyone think?
And he's giving me a $3600 discount on the SL55. I think the discount on the SL55 is awesome considering they are always sold at msrp or more. But I don't think I'm getting a good deal on my trade.
What does everyone think?
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Joined: Feb 2003
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From: St. Louis, MO
2004 C32 AMG
Man...I hate trade-ins. I imagine if you're shooting for the SL55, you aren't too worried about the dent in your account.
$80k for a 1k mile SL500 is a pretty decent trade. An SL500 with 6k miles is forsale at a local dealer here (not Mercedes) for $80k so that's not too far off.
What hurts is the $91k you paid, I think the car should be a $84k car. If you can get the SL55 at below MSRP, just factor that into your tradein.
SL500 @ $83k trade (which is fair IMO)
SL55 @ MSRP (which is fair IMO)
GO FOR IT...Some day I will have an SL55!
$80k for a 1k mile SL500 is a pretty decent trade. An SL500 with 6k miles is forsale at a local dealer here (not Mercedes) for $80k so that's not too far off.
What hurts is the $91k you paid, I think the car should be a $84k car. If you can get the SL55 at below MSRP, just factor that into your tradein.
SL500 @ $83k trade (which is fair IMO)
SL55 @ MSRP (which is fair IMO)
GO FOR IT...Some day I will have an SL55!
Member
Joined: Jan 2003
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From: West Sussex, England
2007 Porsche Turbo Cabriolet
Tell yourself you are paying list for the 55, and mentally add the discount to the trade in price of the 500. that should ease the pain.
I had a similar dilemma when I changed from a 500 to a 55, but solved the problem by passing the 500 onto my son. We then sold his LHD 500 which I had previously passed down.
The sale of the LHD 500 was a huge hit as we paid well over list when the 500 were first launced in Germany, and as a LHD import in England the price drop was quite something. £90,000 down to £40,000.
Now the deeds have been done , the money is (almost) forgotten, but the fun of the 55 is for Real..
GO FOR IT.
I had a similar dilemma when I changed from a 500 to a 55, but solved the problem by passing the 500 onto my son. We then sold his LHD 500 which I had previously passed down.
The sale of the LHD 500 was a huge hit as we paid well over list when the 500 were first launced in Germany, and as a LHD import in England the price drop was quite something. £90,000 down to £40,000.
Now the deeds have been done , the money is (almost) forgotten, but the fun of the 55 is for Real..
GO FOR IT.
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If my calculation is correct, you have to pay at least USD38,000 to get a SL55.
No matter how you calculate or how you see it, the dealer is ALWAYS the winner. One would never run a losing money business, the dealership especially like customers like you, they made money a month ago with your new 500. Now you want to do a trade in, with such low mileage on your car, they can sell the 500 as a demo or even as an "executive" car at close to MSRP. They will make a huge profit again from your 500. '05 55 is only a couple months away, they need to cash in for the '04. I believe thats the main reason why they can give you a discount on the '04.
The point is not whether its a good deal or not. Those numbers never add up or make any sense. The most important thing is whether you prefer to own a 493hp AMG vs. a 302 hp SL500 or as I've mentioned a 508hp Kleemann Supercharged SL500?
No matter how you calculate or how you see it, the dealer is ALWAYS the winner. One would never run a losing money business, the dealership especially like customers like you, they made money a month ago with your new 500. Now you want to do a trade in, with such low mileage on your car, they can sell the 500 as a demo or even as an "executive" car at close to MSRP. They will make a huge profit again from your 500. '05 55 is only a couple months away, they need to cash in for the '04. I believe thats the main reason why they can give you a discount on the '04.
The point is not whether its a good deal or not. Those numbers never add up or make any sense. The most important thing is whether you prefer to own a 493hp AMG vs. a 302 hp SL500 or as I've mentioned a 508hp Kleemann Supercharged SL500?
Thread Starter
Senior Member
Joined: Feb 2004
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From: Colts Neck, NJ
08 CL600 Black
Very good points, guys! I'm really bothered by the fact that I have to take a $12k hit for 1k miles! I know for sure that he still has around a $6k profit margin on the 55 after discounting it $3500. So, the dealer is still making money on the 55 and I'm sure on my trade, too!
I think the only thing I need to find out for myself is if $12k doesn't hurt my pocket. If I went thru with the deal, it would mean I paid $12 for every mile I drove the car!!
Harris, the mods you suggested sound better than getting the 55.
Today is decision day...
I think the only thing I need to find out for myself is if $12k doesn't hurt my pocket. If I went thru with the deal, it would mean I paid $12 for every mile I drove the car!!
Harris, the mods you suggested sound better than getting the 55.
Today is decision day...
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From: Carefree az usa
2020 S560,14 ml350, 03 sl55, silver, pano, slr cams, evo headers, lsd, 2019 s63 cab.
sell the 500 locally in the news paper! then buy a used sl55. they are starting to be everywhere. the difference in the 2003 and 2004 sl55 is almost nothing. you don't have to give the dealer a deal with the sl500 either way if you sell it yourself.
Senior Member
Joined: Nov 2003
Posts: 333
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From: South Florida
Taxes
Before selling in the aftermarket, consider the tax implications on the new 55. Careful not to pay taxes on two cars in a month! Also, one might consider leasing and only paying taxes on the monthly payment. If the 55 is going to hold it's value as everyone seems to think it will, the residual should be very high and thus the payments small.
The dealership seems to be hot to get your 500 whether for another customer or just to sell you another car... I think you probably still have room to negotiate..
Personally, I always buy my cars out right and tend to keep them for 5+ years.
The dealership seems to be hot to get your 500 whether for another customer or just to sell you another car... I think you probably still have room to negotiate..
Personally, I always buy my cars out right and tend to keep them for 5+ years.
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Almost a Member!
Joined: May 2002
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91000 for 04 sl500???????? I suppose you are not including the tax and packages? I paid 105,000 (with california tax) with sport package, parktronic, and wood&leather steering wheel, I thought that was a good deal. Was I ripped off?
Last edited by clkmon; Apr 7, 2004 at 06:11 PM.
Junior Member
Joined: May 2003
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From: Washington State
Porsche and GLC63
Originally posted by jettie1767
Very good points, guys! I'm really bothered by the fact that I have to take a $12k hit for 1k miles! I know for sure that he still has around a $6k profit margin on the 55 after discounting it $3500. So, the dealer is still making money on the 55 and I'm sure on my trade, too! ...snip...
Very good points, guys! I'm really bothered by the fact that I have to take a $12k hit for 1k miles! I know for sure that he still has around a $6k profit margin on the 55 after discounting it $3500. So, the dealer is still making money on the 55 and I'm sure on my trade, too! ...snip...
One other thing; it depends on how your state does sales tax. In Wash State, you only pay tax on the difference between the new car and the trade (but ONLY when you trade in). You effectly get a sales tax credit on the trade amount. So, that means that if you decided to sell the car yourself (and not trade it in) you would have sell it for 8.8% (our sales tax rate) more than the dealer's offer to do better. So in your example, you would have to sell it to a private party for $80K+8.8% = $87K at least. Obviously, your state tax is different.
You will love the SL55. Get what you want the most, because you will keep it longer that way and avoid expensive trade-ins.
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From: Arizona
SL55AMG, Ferrari 348, Ferrari Testarossa, Ferrari F40, Ferrari Mondial t, Ducati 916, Indycar
I would sell the car privately and pick up a used 55 from a private party. As far as tax goes some states won't charge tax if the car is purchased from a private party. But whatever you do don't bend over for the dealer!
