I'm trying to negotiate for a bank-owned E55 and am curious to know what they could get out of the car if they just sent it off to auction.

2005 72k miles

 

They can get reimbursed by their insurance policy. Who is the bank? The market is swinging again. I dunno if you will get more than $10K off your residual.

 

Should have been more clear. This is a reposessed vehicle currently for sale by the bank. I assume that if they don't find a buyer they will just send it to auction. I'm trying to figure out what the basement value is and then decide what to offer.

 

gonna need to know the options or VIN... with the VIN I can check for you if you wish... can even tell you which dealer ordered the car...

 

Man, sounds like a good deal, Anybody knows where to buy repoe'd 55's? I might be in the market for an AMG and would like to check...

I hope I don't buy none of your cars though..LOL.

 

Thanks to Vader, the only significant option I see is Keyless Go. Not listed, but I do know that it also has a pano roof.

 

Just PM'd you the info... cars got at least keyless go, vent seats, light blue metallic paint is a little rare, two-tone interior ... but not much else. no nav, no xenon, and no premium pkg

Car just went out of warranty in june...

Kbb retail is; $31k
Private Party;$25-27k
Trade-in; $20-22k

$18k not to low to offer... i'd pull a carfax or give your service advisor $20 and get the VMI so you can see what if anything was done or broke.

I'd shoot for the $18k but you might have to pay $19-20k

Good luck!

 

KCCOUGER... Those prices are using a california zip code...

Sorry your right... Option 413 is Panoroof... I dont know why it said unknown... it could be because it wasn't ordered in a pkg and was seperate. I actually had to look at my cars option list/

 

2005 E55

08/17/09 NEVADA Lease $30,975 42,076 Above BRI SIL
08/06/09 NEVADA Lease $26,000 64,842 Avg BLACK
07/31/09 MANHEIM Regular $21,400 91,781 Avg BLACK
07/30/09 RIVRSIDE Regular $24,750 68,081 Avg BLACK
07/23/09 MANHEIM Regular $23,400 87,506 Avg DES/SILV
07/14/09 AMERICAN Regular $18,500 91,769 Below BLACK

 

Thanks.

 

Why would you want a Repo car? They are cars that fell into hands that could not afford them. Most suffer from neglect, and abuse if the previous owner knew he was going to loose it to the bank. A repo may look like a deal but can turn into a money pit.

FWIW an 04 would be a better repo bet cause they had free service 4 years & 50K miles the 05 had to pay and if a guy can't make a car payment do you think he spent $500 for a MB A service.
These car are so worth getting..............but get a good one, for your own good.

 

I would ask a SA to pull the records on it. If this is a small, regional bank, they probably do not have a department just to handle reposessions. They have to sell the cars to the same wholesalers who have to take the cars to the auctions to sell.

I used to be in the car business (wholesaled cars), and we bought cars here-and-there from small banks.

It sounds like a really good deal, but could be pretty realistic IMHO.

If you can get it, and if it has had good history, go for it. I have seen some repos in really great shape. If this is a small bank, the banker may have a personal relationship with the person who owned the car, and they may not get as trashed.

 

As a former dealer, if you're buying it for yourself BUY IT. Get an aftermarket warranty and don't worry about it. If you don't buy it- I will buy it from you for 20k. Let me know. That is an absolute steal w/those options.