teolax

Have they really tanked this much??? On a whim I stopped by the local Porsche dealership and they had a used 997 Turbo that caught my eye. I told them I might be interested depending on what they could give me for my 2007 E63 with 21,000 miles. My car is CPO'ed until April 2011, has everything except Pano roof, distronic, and P30. The car is absolutley mint... They called today and offered $53,000 for my car

RHBENZ

This thread will lead to no good feeling...

AMGfan

What was MSRP on it? I was always under the impression on most cars there is a 20% depreciation hit as soon as you drive off the lot and 10% every year after that...Those are estimates so it may vary from car to car...

Uber Wagon

I didn't think that your CPO is transferable, is it?

And yes - V8 luxury is pretty much tanking that badly... But really - the car is now 2 years old. I bought my car new 2 years ago as a "leftover" 2006 and it was discounted $20K and I would have expected it to lose another $18K / $19K in year one / two, so that's not all that far off the mark.

teolax

MSRP was $95,000. By your calculations it should still be worth close to $65,000.

teolax

I'll have to check with the dealership if the CPO is transferable. I don't see why not??

Like the poster said above, this will lead to no good feelings.

Blacksport350

CPO can ONLY be transferred through a private part to private party sale. If it is traded in at a non MB dealership or auctioned, the CPO is officially lost.

And no, this thread will not make you happy so you should go have a drink and trade your car in for the 997 Twin. After you have done that, take the 997TT and thoroughly thrash it. You will then forget about all the money you just spent/lost. It is all about smiles per mile!!!!!!!

AMGfan

These are the approximate KBB trade in values for your car with that mileage.

Excellent
$61,100

Good
$58,200

Fair
$52,900

I guess the depreciation is worse than my estimates would make it out to be...They are low balling you but this is a negotiation so it's up to you to see if they can go up from their original trade in offer...

1985mb

Add another 10-15% due to the current state of the economy

byum

I think from what I saw, recent auctions go between 48k - 55k for an 2007 E63 so I think the dealer offered you something close to wholesale.

I've seen dealers move them around 60k. I'm waiting for some more "discounts" before I take the plunge.

MB_Forever

$53k seems to be close to the current market value for these cars. I think yours should be a little higher because of the performance package (very rare on options). I've seen 2 trade-in E63s here at my local dealership:

- 2007 Black E63 with 15k miles
- P2 Premium Package
- Parktronic
- Trunk Closer
- iPod
- Excellent Condition

Trade-in value: $60k

- 2007 Silver E63 with 26k miles
- P2 Premium Package
- Parktronic
- Trunk Closer
- iPod
- Panoramic Sunroof
- Excellent Condition

Trade-in value: $57k

teolax

Good info on the CPO. I think I may just try to sell it myself and wait until the summer to by a "weekend" car.

teolax

I was expecting something closer to the $60,000 number but they came in at $53,000!! I told the guy I didn't want to waste his time or mine.

Timeless

Just make him take another 7K off the car you want..as I am sure the values for it are tanking also.

Good luck!

CWW

Hate to say it, but I think that's actually a decent offer. Remember that it's negotiable, and if you can get him up $2k or $3k on the trade-in, then I think it's a very fair offer.

I have been mercilessly low-balled by every dealer I've ever talked about a trade with (b/c of my age...I think they see "easy target" on my forehead), so if I ever had a dealer come in anywhere around the KBB range like this dealer did for you, then I'd be jumping for joy. Yeah, you took a big hit off of MSRP, but that's because this economy freaking SUCKS, and everybody is taking that same hit not just you. The good news is, that Porsche has taken a hit too, so you can no doubt get a good deal on it.

I say go for it, the TT's are unbelievable. And if you think $53k is bad, then wait another 12 months until after the new-style E class comes out, and you'll be looking at $30k's. The Porsche will lose less, because they're not about the change the body style. Honestly, even though it seems like a hit, I bet over the next 12 or 18 months, you will come out FAR ahead by switching to the porsche. As much as I love the W211's, you haven't even seen the meaning of 'depreciation' until there is a body style change. After that, most 211 owners will be in the teens and $20k's up to maybe low $30k's across the board.

CWW

Here are a couple of comps:

'08, 600 miles, $67k "Buy It Now":

http://cgi.ebay.com/ebaymotors/Cars-...1%7C240%3A1308

'07, 15k miles, $58k "Buy It Now":

http://cgi.ebay.com/ebaymotors/Cars-...1%7C240%3A1318

'08, 12k miles, $62k "Buy It Now":

http://cgi.ebay.com/ebaymotors/Cars-...318#ht_500wt_0

So the more I look around, I think the Porsche dealer actually made you a VERY fair offer, considering your year and mileage. Retail value for your car is only in the $50k's to begin with, so for them to offer you $53k on a trade is actually pretty generous. Also, you gotta remember the CPO doesn't add any value, because it disappears when you trade the car at a non-MB dealer. I think they gave you a very fair offer. Just make sure they don't try to make it up by jacking up the price of the car you're buying, or playing with your interest rate to bring in $$$ on the back-end, etc. If the rest of the deal is fair, then their offer was pretty good.

eagle_lex

after the model change your E63 is seriously going to tank. CWW is right on the money there. i have been shopping for sometime now for either an E55, E63 or (i know its a cross shop but..) C63. im betting that my best deal will be on a E63 after the new model release. probably even better then the C63 pre owned.

drive what you want... life is too short.

The Law

Some really really good advice on this thread. That number is really good IMO. If you want the Porsche I say go for it.

Newzchspy

True, BUT if they give you $65 K for the car (Porsche), they can't mark it up 20% for the used car sale. Dealer always pays wholesale or less (auction prices) on trades. Why would they pay retail and sell retail??

teolax

The more I read and see, the more I think my best option is to just sell it myself. I bought it used so I'm not into the car for anywhere even close to MSRP, but I still don't want to take that big of a hit on the trade. Hopefully I can find a buyer that will be looking for a mint E63 at a reasonable price.

li-m5

same here , stopped by a bmw dealer that had a nice cpo m5 and they offered me 50k for my 2007 e63 w pano,p2,elec trunk,keyless go,and 030 pkg !!

i was pretty upset to say the least !!

CWW

Not that I haven't fallen victim to the same thinking myself (and later regretted it), but that's terrible logic. The truth is, your car is never going to be worth any more than it is right now. It's a depreciating asset.

Retail on this car is in the high $50k's presently, and you've already got the porsche dealer offering you within $5k or $6k of what you'd get for it private-party. It just makes no sense to take the risk, man. It isn't going to sell quick in this economy, because 8 out of 10 people can't get a loan, and most of the ones who can have lost a ton in the stock market and are cutting back. And you have a lot of mileage compared to most of the E63's out there. Then on top of that, you've only got 9 months left before the ticking time bomb goes off and new E-class comes out, then you're going to lose another $20k+ overnight.

If you really want the porsche, then it just doesn't make sense to take the risk of sitting on it for months (or longer) trying to sell it private-party. It will only take a couple months' worth of depreciation to eat up the little bit of extra money that you *might* make by selling it private party. It would be different if they really lowballed you, but assuming the rest of the deal is fair then $53k isn't bad at all. It's your decision, obviously, but if you really want that P-car then I would jump. You will save more than the trade-in hit will cost you, because the 911 doesn't have a new body style coming out anytime soon.

Wish4_e55Wagon

Is there a chance Mercedes will introduce the next body style change earlier than normal given the economy?

teolax

I hear what you're saying, but I do have some time, and what does it hurt to try to sell it for a month to see what type of interest I get? There are plenty of pre-owned 2007 911 Turbos in my area so I'm not worried about losing the car I saw this past weekend. You really think another $20K comes off when the new body style comes out? I would figure some hit, but that seems extreme.

Uber Wagon

What about taxes that you'll now pay on the entire purchase vs trading in the car? And - then you have to deal with the crazies and the tire kickers and the morons who want to drive your car....

Not sure I'd want to go through all that for what will likely come down to a couple grand.

All that being said - I've had good luck selling cars on my own - I rarely trade in - usually because I have the car number go up, then down, or buy a car because it's a good deal and then worry about selling whatever it is replacing. I've also bought a fairly cheap car to replace an expensive one so that would be a weird trade. Trades do complicate the negotiation process. And - you'll at least get some value form your CPO doing a private sale.