How badly does high mileage affect value of an E55?
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From: Sacramento
997C2S
High mileage E55: How badly is value affected???
Hey guys,
I have been driving my 2005 E55 a lot since I bought it three months ago and I am loving every moment behind the wheel. However, I am averaging almost 600 miles a week. At this rate, I will be averaging almost 30,000 miles a year. At the end of three years, I will have over 100,000 miles on my E55.
To avoid accumulating these high miles, I am considering buying an additional car (Accord or Camry caliber) as a daily driver to alternate for my commuting duties.
How much lower resale value would you expect a 2005 E55 with 100,000 miles versus one with 55,000 miles if I were to sell it three years from now in 2010?
To make things easier, I am guessing a clean 2003 E55 with 50,000 miles has a market value today of about $37,000. Does this sound right?
How much would the same 2003 E55 be worth if it had over 100,000 miles today?
Your thoughts are greatly appreciated.
Thanks!
Tony
I have been driving my 2005 E55 a lot since I bought it three months ago and I am loving every moment behind the wheel. However, I am averaging almost 600 miles a week. At this rate, I will be averaging almost 30,000 miles a year. At the end of three years, I will have over 100,000 miles on my E55.
To avoid accumulating these high miles, I am considering buying an additional car (Accord or Camry caliber) as a daily driver to alternate for my commuting duties.
How much lower resale value would you expect a 2005 E55 with 100,000 miles versus one with 55,000 miles if I were to sell it three years from now in 2010?
To make things easier, I am guessing a clean 2003 E55 with 50,000 miles has a market value today of about $37,000. Does this sound right?
How much would the same 2003 E55 be worth if it had over 100,000 miles today?
Your thoughts are greatly appreciated.
Thanks!
Tony
Last edited by TonyJ89117; Jun 13, 2007 at 04:29 AM.
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I would keep your car and enjoy it, that is why you bought it in the first place.
I think that buying, maintaining, and insuring another car will be the same or higher than the added depreciation you will realize from the additional mileage on the E55.
I think that buying, maintaining, and insuring another car will be the same or higher than the added depreciation you will realize from the additional mileage on the E55.
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From: Denver
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Here are the results on cars.com for a 2003 E55
Cars.com
107,943 mi. $38,980
62,000 mi. $42,500
59,961 mi. $39,900
58,910 mi. $43,995
58,000 mi. $43,950
56,791 mi. $48,995
56,201 mi. $41,999
53,112 mi. $40,995
52,963 mi. $49,995
51,410 mi. $41,186
51,321 mi. $46,888
50,354 mi. $41,990
Cars.com
107,943 mi. $38,980
62,000 mi. $42,500
59,961 mi. $39,900
58,910 mi. $43,995
58,000 mi. $43,950
56,791 mi. $48,995
56,201 mi. $41,999
53,112 mi. $40,995
52,963 mi. $49,995
51,410 mi. $41,186
51,321 mi. $46,888
50,354 mi. $41,990
Thread Starter
Member
Joined: Mar 2006
Posts: 118
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From: Sacramento
997C2S
Here are the results on cars.com for a 2003 E55
Cars.com
107,943 mi. $38,980
62,000 mi. $42,500
59,961 mi. $39,900
58,910 mi. $43,995
58,000 mi. $43,950
56,791 mi. $48,995
56,201 mi. $41,999
53,112 mi. $40,995
52,963 mi. $49,995
51,410 mi. $41,186
51,321 mi. $46,888
50,354 mi. $41,990
Cars.com
107,943 mi. $38,980
62,000 mi. $42,500
59,961 mi. $39,900
58,910 mi. $43,995
58,000 mi. $43,950
56,791 mi. $48,995
56,201 mi. $41,999
53,112 mi. $40,995
52,963 mi. $49,995
51,410 mi. $41,186
51,321 mi. $46,888
50,354 mi. $41,990
However, I would think the car with 107k miles would be a very hard sell even for $35k don't you think?
Thread Starter
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From: Sacramento
997C2S
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From: Denver
McLaren 12C Spider | Lamborghini Superleggera | Porsche 997.2 TT | Cayenne TT | AMG GTS
There is a market for high milage cars it will sell quickly at the right price. If you think about it that's about a $15-20K difference between 100K car and a 10-20K car. Some people want a paticular car that is out of their budget so they accept the high miles to get into the car that they could not necessarily afford otherwise. You see this often in California. There are a bunch of independent dealers that specialize in high mile high line cars, because there is a market.
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Thread Starter
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From: Sacramento
997C2S
I agree with a lot in what you are saying. However, 11 MPG really starts to add up when you have to refuel every two days.
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Joined: Jul 2003
Posts: 756
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From: Denver
McLaren 12C Spider | Lamborghini Superleggera | Porsche 997.2 TT | Cayenne TT | AMG GTS
I think a beater car that is a few years old and get's you great gas milage for your commute is not a bad idea. You're spending $600 a month in fuel and depreciating the car about $700 per month that works out to be $1300/mo. In 7-10 months you could have a 2nd car paid for and save about $800-1000/mo. Let's say in the end your beater will be worth half it's purchase price you have another $5k on the backend.
Last edited by SANDOVAL; Jun 13, 2007 at 11:57 AM.
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Posts: 527
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From: Indianapolis, IN
2012 JDM
This is a good thread. Don't forget about insurance costs, repair costs, and maintenance for the beater. Although the repairs and maintenance costs will go down on the e55 if you aren't driving it as much. Thing is, the e55 is a high cost to own, even if you drive it very little depreciation and maintenance costs will occur due to time not just do to miles driven.
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From: Jupiter, Florida
2005 E55, 2004 E55(sold), 2001 Viper GTS, 2006 Viper VOI9, 1994 ZR-1 Corvette 2009 Viper ACR,
No other cars value, is impacted so dramatically for mileage, than an AMG Merc.... Everyone is scared away by high-mileage cars with no warranty...
Galves wholesale book hits the car for about $375/per thousand miles, over 48k..... I would say thats a bit high. Even with 100k, there is still a market for the car, at the right price...I would say (real world) it would get hit @ about $275/per thousand miles, over 48k.
(At $275/thousand) If a 50k mile, 2003 has a market value of $37,000... then a 100k mile 2003 has a market value of about $23,250... I know, its ugly.. And thats conservative.. At galves numbers, the car would be worth $18,250... Which like I said, is ridiculous.. Its an E55 Kompressor. There will always be some stupid kid(no offense) who will want it for $20-$25k range, who wont care about the miles..
Galves wholesale book hits the car for about $375/per thousand miles, over 48k..... I would say thats a bit high. Even with 100k, there is still a market for the car, at the right price...I would say (real world) it would get hit @ about $275/per thousand miles, over 48k.
(At $275/thousand) If a 50k mile, 2003 has a market value of $37,000... then a 100k mile 2003 has a market value of about $23,250... I know, its ugly.. And thats conservative.. At galves numbers, the car would be worth $18,250... Which like I said, is ridiculous.. Its an E55 Kompressor. There will always be some stupid kid(no offense) who will want it for $20-$25k range, who wont care about the miles..
Thread Starter
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Joined: Mar 2006
Posts: 118
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From: Sacramento
997C2S
No other cars value, is impacted so dramatically for mileage, than an AMG Merc.... Everyone is scared away by high-mileage cars with no warranty...
Galves wholesale book hits the car for about $375/per thousand miles, over 48k..... I would say thats a bit high. Even with 100k, there is still a market for the car, at the right price...I would say (real world) it would get hit @ about $275/per thousand miles, over 48k.
(At $275/thousand) If a 50k mile, 2003 has a market value of $37,000... then a 100k mile 2003 has a market value of about $23,250... I know, its ugly.. And thats conservative.. At galves numbers, the car would be worth $18,250... Which like I said, is ridiculous.. Its an E55 Kompressor. There will always be some stupid kid(no offense) who will want it for $20-$25k range, who wont care about the miles..
Galves wholesale book hits the car for about $375/per thousand miles, over 48k..... I would say thats a bit high. Even with 100k, there is still a market for the car, at the right price...I would say (real world) it would get hit @ about $275/per thousand miles, over 48k.
(At $275/thousand) If a 50k mile, 2003 has a market value of $37,000... then a 100k mile 2003 has a market value of about $23,250... I know, its ugly.. And thats conservative.. At galves numbers, the car would be worth $18,250... Which like I said, is ridiculous.. Its an E55 Kompressor. There will always be some stupid kid(no offense) who will want it for $20-$25k range, who wont care about the miles..
I definitely will look for a beater to help reduce the miles on my 55.
Thanks
Tony
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Jim-Nickel
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2008 W211 E63
I am in the same predicament as Tony driving about 30-33K miles a year. I could keep my current beater, but I feel that I would never end up driving it anyway after how much you guys rave about the E55K.
Have you considered a W210 E55? I am expanding my search to one of these now as they seem to be bullet proof. The last thing I want is to be halfway to Paso Robles or San Luis Obispo and have the E55K have some issue 100s of miles away from a dealership and leave me stranded in the middle of nowhere. I test drove a W210 and they are pretty quick, no where near the E55K though.
Did anybody here have a 210? If so, would you recommend one as DD for over 30K miles a year?
Have you considered a W210 E55? I am expanding my search to one of these now as they seem to be bullet proof. The last thing I want is to be halfway to Paso Robles or San Luis Obispo and have the E55K have some issue 100s of miles away from a dealership and leave me stranded in the middle of nowhere. I test drove a W210 and they are pretty quick, no where near the E55K though.
Did anybody here have a 210? If so, would you recommend one as DD for over 30K miles a year?
Thread Starter
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Joined: Mar 2006
Posts: 118
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From: Sacramento
997C2S
I am in the same predicament as Tony driving about 30-33K miles a year. I could keep my current beater, but I feel that I would never end up driving it anyway after how much you guys rave about the E55K.
Have you considered a W210 E55? I am expanding my search to one of these now as they seem to be bullet proof. The last thing I want is to be halfway to Paso Robles or San Luis Obispo and have the E55K have some issue 100s of miles away from a dealership and leave me stranded in the middle of nowhere. I test drove a W210 and they are pretty quick, no where near the E55K though.
Did anybody here have a 210? If so, would you recommend one as DD for over 30K miles a year?
Have you considered a W210 E55? I am expanding my search to one of these now as they seem to be bullet proof. The last thing I want is to be halfway to Paso Robles or San Luis Obispo and have the E55K have some issue 100s of miles away from a dealership and leave me stranded in the middle of nowhere. I test drove a W210 and they are pretty quick, no where near the E55K though.
Did anybody here have a 210? If so, would you recommend one as DD for over 30K miles a year?
A W210 would be great, but I think two E55s may be impractical for me. I am selling my Vette, so I will probably buy a sporty coupe or 4-door that I can track occasionally.
