jpnwdc

So I have a 2007 SLK280 with 23k miles on it. It has P2, HK audio, Heating Pkg, auto transmission. I want something bigger and have my eyes set on an Audi A5. So, it looks like the best I can hope for in trade-in is around $21K. Now granted it has had some paintwork but no major accidents (one was a parking lot swipe and the other was dent on hood from vandals). Both were repaired. One Audi dealer (in another state) offered $21,500 based on mileage and the Carfax. I took it to a local CarMax and they put $18,000 on it! Why does the SLK suck so bad with resale?

If I could do it again I would have leased.

NYCGLK

It has very small market. You can get used SLK 55 AMG for a little over 30k. 3 year old Cayman S sells for under 40k, 2004 honda S2000 is under 20k. Truth is those are toy cars, and ppl with enough money for toy car would rather buy a new one.

But in general first 3 years of depreciation are the largest, sorry if this is a news for you. If you are replacing cars every 3 years leasing is not a bad option, but again you gotta do the math to make the proper comparison. High depreciation doesn't mean leases is better.

Carmax and dealers will also lowball you. When I brought Toyota Matrix for trade in at MB, they offered 6k for it. I sold it myself in a month for 9k. Check KBB.com for pricing of your car and compare trade-in to private party price. Maybe you can sell it yourself for a few extra grand.

hcetzneb

exaclly NYCGLK


Now why would you say dont buy a new mb because of depreciation which is completely out of Mercedes control it relies on supply/demand , market.

And you say 2 accidents are nothing but now a days with carfaxes and such people are very hesitate to buy anything with paint work.

Look at the s65, sl65 the retail price on them are over 200k new and they are trading in for 70-80k even less Thats life

Ynot

You buy new b/c you want the latest and greatest at the time, not for resale value. When the SLK came out, I had to have it, there were nothing on the road remotely like it so you have to pay a premium for it. I feel your pain, I cringed to the fact that it is worth nothing but to me it's a keeper, never thought about selling it.

451/443=EW

Some good thoughts from NYCGLK, but a few more you guys should be aware of..

Trade in prices are not resale value, dealers MUST buy them for less then market value as to sell them at a profit for market value. Any dealer buying cars ar market value wont be in bussiness long. How low they go is no different then you haggling on price on things you buy. You dont like there price, dont sell it.

You also need to factor in a new car comes with new car warranty, road side, low finance or lease options, new tires and brakes no wear and tear. The cost of service is lower in the first few years and bill just get bigger and the car needs more things as it gets older.

hcetzneb - also points out supply and demand, and yes cars with decs do matter. Bingo!

So you ask your self, how much would I pay for such a car with about 1 yr or less warranty and roadside. I must get my own financing or pay cash...etc
What ever cars SELL for used on average, knock off about $4K on trade.

The dealer may have to spend money to resell your car, plus room to move on the price and still must turn a profit.

I have no comment on the prices the OP listed on trade as I dont know your market. But I hopw this info helps.

Good luck..

ohlord

In a few weeks it will be a 4 year old model and edmunds.com has it at 20k private sale and 18k trade in average condition(body work) that will only drop more in the coming months.
And with recent reports like
the one out today ranking MB and audi among the worst in expected reliability You might reconsider getting either of them new.
You would have gotten off way worse had you leased don't even consider it.

alanchan

I am somewhat agree with the OP jpnwde
you are right, a new MB SLK SUCKS!! depreciation is the killer for a normal person (not super rich)
I live in Canada and I like another member here use the wording
"I had to have it" when it first came out in 2005.
That was exactly what I did, buying a brand new toy car SLK350 without any discounts from the dealer at that time.
I paid $80,000 and this car is worth $30,000 at most based on current market value.
My car is 5 year old now and I drove only 10,000km in 5 years.
this is my summer car so if my math is correct, I am losing $10,000 + per year in order to own/keep this beautiful baby and about half of the time (5 winter months) its sitting in my garage collecting dust.
When I am looking at the dealership for pre-owned 2005-2008 SLK, they got many to offer priced at $25,000 - $30,000 with very attractive low mileage and maybe extended warranty coverage.
so what the heck ...... If I have a chance to buy another SLK again in the future, IT WON'T BE A NEW ONE....
I know some of you may say, the pleasure of enjoying a new car is like having a virgin .... ha ha
but it sure cost you an arm and a leg if you can afford it.
Thanks for sharing my thoughts.

451/443=EW

Yes, I can understand in your position with 10K on your car that it is better to buy a pre-owned one. Thats what I would have recommeded to you if you dont drive it much. A New loaded SLK350 will cost ya $82,000 taxes in. So How much would you pay for a 5 yr old car? No warranty, roadside and so on... Granted you only have 10K on the car, but it not gona make its value go up much more. However on a private sale it certainly makes for a desirable buy. New cars are the same value as certifed pre-owned. Yes depreciation is greater, but so are all the new car perks. Anyone who is not planning to drive the car much is always better to go pre-owned. Oh well... you live and learn right. Sounds like a nice car to keep for many yrs.. enjoy it!

alanchan

thanks 451/443=EW!

Merry X'Mas to you
I saw you live in Vancouver, I am in BBY, we should do a mini meet one day with the local Benz people, what do you think?

yeah, when the 2nd generation of the SLK launch 5 years ago
many people like me really wanted the F-1 nose hood, all that good feeling of owning the SLK etc ....
but most of us didn't know that this car does not have a good resell value even the Benz sales guy kept telling us it is.....

I did a search on Craig list and the private selling price of my 2005 SLK350 is around $28,000-30,000 Canadian

I am planning to keep my car for another 2-3 years
and at that time, it probably goes down to $10,000

live and learn, let's hope the repair bill does not cost me an arm or a leg.

Cheers

Alan

jakeopa

Just bought one with 18K miles for $24K in excellent condition. HK sound, airscarf, wood trim interior and NAV included. The original owner probably got $20K for it when he traded. Hopefully depreciation slows after the first few years.