scmguru

Looking at getting one for a really good deal on a lease.. but, I may want to upgrade in 12-18 months. How far under water will I be if I pay between 59-60k for it now (new)? (w/ normal mileage)

mc

bcapp

A trade in on a 2001 E55 now would only yield about $45K give or take a couple thousand. The car is effectively two model years old at this point. It cost around $70K new, so you'd be out $25K for two years of ownership.

In 18 months MB will be starting to deliver the 2005 E55's which will make your 2002 car three years old. I would guess your 2002 E55 would be worth around $40K on trade at that point meaning it will cost you around $20K to drive the car for 18 months if you can buy it for $60K. I still think if you can grab a 2002 E55 new for $60K it's a great deal. You'll be out the $20K in depreciation because you only will have had it for 18 months and there is a new model available.

pocholin

Would you be interested on a 99 model? 60k miles, ext. warranty. really good shape.

bcapp $ 45k for a 2001??? I don't think so, i've checked them and those are more like in the low 50s if any

scmguru

Ok.. what about the same car for 59k? 2002 e55, new, standard options, no nav, $675 a month w/ 5k drive off for 39 months

I can't think of very many cars anywhere near as cool as an e55 for $675 a month.. heck, I paid $760+ on my clk430 lease..

mc

bcapp

Pocholin.....

I was talking about trade in value on a 2001 E55. Check Kelley Blue Book - their range, if you can believe it is $38.7K to $48.1K - so I split the difference at $45K.

As far as buying a new 2002 E55 for $59K... I say....make that deal!

pocholin

That does sound really good.

pocholin

ohh, OK, you were talking trade in value, but then againg you were checking at KBB, they suck, they are geared to help car dealers buy really cheap and sell high!

Note:I'm upset at KBB, not at you

TBMpilot

If you're not going to do this deal can you please email me the details as I am looking for one and they seem to be a little higher.



mailto://airsocal@hotmail.com

skidz1

KBB's wholesale prices do not equate to real market prices. The wholesale prices quoted are generally to high. A used 2001 e55 right now would not bring any more than low $40's wholesale. A new 2002 for $59,000 is not bad, but you need to think about keeping it for at least 3 years. As soon as you put 5-10K miles on it, it will only be worth mid $40's wholesale. Your much better off finding a slightly used one and paying as close to true wholesale as possible.
You need to be careful with the dealer. A true wholesale price can only be determined if you are not buying a car from them. Call several dealers and offer the car you are trying to sell or if you are smart call several dealers and offer them the car you are trying to buy( they don't need to know you don't really have the car) this will give you an average of true wholesale and what your target price should approximate. If you are trying to buy a car from them you will never know the true amount they are willing to pay. Instead of $59,000 maybe they really only need $56,000 for the 2002 but are burying your trade in the price. You get the idea. Hope this helps. You must protect your interest because the dealer sure won't.

skidz1

In response to bcap above . They would be out the $25,000 in depreciation plus the monthly payment multiplied by 18 months. That is a big difference. Add another $15,000 roughly for principle and interest. Suddenly $40,000 (give or take $3-5k) for 18 months of ownership sounds ridiculous.
It is hard not to get your emotions involved in buying such wonderful vehicles but it is the kiss of death financially.

=Buy a slightly used model as close to true wholesale as possible and be patient.
=If you lease plan to keep it for th entire time. The residual on the clk55 and e55 is set way to high. Let them take the hit when you turn it in.
=If you buy, plan to keep it for at least 3 or 4 years(depending on how long you finance it).
If these options do not sound like your cup of tea, then you are very wealthy and finances are not a big issue or you really can't afford this vehicle and should move on to something that works within the parameters above.

bcapp

Re: Skidz1

What do you mean when you say "another $15K in principle and interest"? The principle piece doesn't come into play if you resell the car in a couple of years and get, say $40K - that's your principle. I think what you meant is that you are out whatever you lose in depreciation - we were saying roughly $25K - plus the interest on whatever money you borrowed to own the car for the 18 mo. period. Even if you financed the entire $60 K purchase price over, say a four year period at 7% interest and then sold the car after 18mo. you would have only spend about $5500 in interest charges - That plus your depreciation loss of another $20K is still a big chunk of change!

ethune

Just for those interested, I just traded in my 2001 E55 (with Nav, Phone, Ventilated Seats) for $54K. Although I took a beating on the car, I feel I got a good deal since the market for these cars is very soft. Other dealers were as low as $49K for the car! In addition to that, I was able to buy a 2003 CLK cab for $400 over invoice with really good lease rates. Just another data point for you on resale.

Eric

tboombozz

I am in the market for e55 2001 or 2002, the best price i have

found 51k w/ 15k miles for an 01, and 56k w/ 10k miles fo an 02.

I have read the post that these cars should be going mid 40's to

low 50's. Back in December it seemed that ebay had several

listing for e55, but there is only 3 or 4 now all 200o or 99. if any

one has info on where to get an 01 for less than 45k or an 02 for

less than 53k please let me know.

skidz1

That may be what people are asking but it is not what they are getting. You have to be confident in your research and offer a fair price and if someone is dillusional move on. I gaurantee the dealers are not offering more than low 40's on that car in a straight sale(without buying a car from that same dealership). Keep your emotion out of the process and be patient. Otherwise you will be the one burried in 2 or 3 years when you try to move the same car.

M6toE55

I too am actively looking for an e55 - either a 2000 or 2001 with less than 20k miles.

The prices you've found do not seem to be that far off from what my expectations are: $51k for an '01 with 15k miles is only $2k higher than what I'd pay...

If I were looking for a 2002, I'd be prepared to pay up to $53 [maybe $54m].

I agree: be patient - each month that goes by, the depreciation on the existing models chips away a bit more... reality will eventually set in, and the rational seller will come to your price.

good luck.

pocholin

What would a fair price be for a 99 model with 65k miles??? Not selling my car anymore but I'm trying to understand you guys.

tboombozz

I just leased a 02 E55 $56k 630/month with 3k out of pocket. Black

pocholin

wow, i think that's very good. how many miles a year?

skidz1

It depends on what kind of shape it is in. Brakes, tires, paint, carpet, leather. You will have to discount it significantly if it is not spectacular with all records considering the high mileage.
You must understand that a buyer will see that there are many lower mileage 1999, 2000 models to choose from. Your car is as rare as a 99 with 4,000 miles on it. You have to consider that you are on the other end of the spectrum. Why would someone buy it? The answer is because it is very reasonably priced. I would not expect more than $30,000 wholesale and maybe low to mid thirties if you find a buyer(which will be hard).
The best advise I could give would be to keep it as a daily driver and buy or lease a slightly used 2001 or 2002 car that traditionally has high residual values and fits your budget. Keep the miles more moderate on the new vehicle and buy it at the right price which means being patient and unemotional. You have a sweet car to drive until you find the right deal.
You can lease a Boxster, SLK320, Audi tt 225, Honda s2000 (or a few others) very reasonably right now($300-$500/month). Or you can take a kick in the groin and buy a new car at or near sticker run a ton of miles on it and be screwed again.

pocholin

The hard part of buying a car is keep it unemocional, at least for me.
The sad part about selling your car is that the seller has to meet the buyer's expectations 9which is ususally bad for the seller)
You are most right on your comment tough.

M6toE55

Unless I'm confusing you with someone else, you got 39 months term and 12k miles per year [?]... Congratulations! I think you got fantastic lease terms - it's getting me to rethink buying a 2000/2001 in favor of leasing a 2002...

Any starmark extended warranty? And only 10k miles on the odo?! Very nice!

tboombozz - I would appreciate it if you could pass along the name of the leasing company that you used, along with the money factor and the residual value the required. thanks in advance.

pooch - I agree with skidz. With low milage '99s are just barely trading in the 40's, I think you will need to be solidly in the low-30's. In other words, a $5,000 discount to a low-milage '99 is NOT enough of an incentive to go with your car [high milage]... it would have to be more like a $10k discount.

tboombozz

the deal includes starmark warranty, the money factor was .00212 = 5% interest go to www.leasecompare.com

M6toE55

Great site - easy to use... am now definitely rethinking the 00/01 buy vs. '02 lease.

thanks for the info.

btw - hopefully you'll post a few pics of your new '02 soon.