E55AMG253

Just curious what everyone's take is on the price hike on these cars. I'm in the market for one and have worked in the auto industry for over 20 years. Being in this industry I have a pretty strict rule when buying a used car which is pretty common sales/buying practice. Never be over 20% of the car's market value(KBB/Banks appraisal) after tax and license. Being in WA state with a 10% sales tax this can make things very difficult. I'm seeing a lot of these wagons going for 25-50% over market value on a regular basis. I understand the rarity of these cars but at the same time we're talking about a 10+ year old Euro luxury car with high mile 90k+ in most cases. A definitive red flag for most buyers and dealers. Are these cars super reliable or something? I ask because after talking to a local Benz mechanic these cars can quickly become money pits when things start to go south.

hachiroku

they're rare...and owners generally love them and don't sell them.

supply and demand, its simple.

JoeJErnst

If they are selling for 25-50% over market value on a regular basis, then the market value is higher than you think it is. The age and mileage become far less important if there is active demand coupled with short supply. Economics 101.

E55AMG253

There's not enough of them on the market at any given time to solidly effect the value. The issue becomes needing the buyer to pay cash for the vehicle. No bank is going to give you a $25k loan on a car that's worth $15k. Not with a reasonable interest rate anyways. I simply will not overpay for a car. Not a complete stock one anyways. Maybe a E55 wagon is not for me.

Rafichicago

I’ve been looking for one as well. It took me a couple of months. Some people get lucky but usually owners of them know exactly what they have. I’ve definitely paid more than one would for a sedan. I’ve put significant amount of cash towards a down payment so the credit wasn’t an issue. Got a great apr as well on it but you really need to have a great credit history for that. In my opinion it still isn’t the bad price for the rarity of those vehicles. While the sedans dropped down in value significantly wagons are holding up relatively well. It seems like they have fewer owners in general and definitely not as many beaters as well. Car is great. Not for everyone for sure.

E55AMG253

Maybe I waited too long to dive into one. Most that are hitting the market now have way too many miles. Especially when we’re talking about a high performance euro luxury car. I’d pay the premium these are bringing for the right low mileage car. No way I’m paying this 40%+ over retail for a high mileage time bomb. I’m in no rush. Hopefully I find one in the next couple months like you did.

Dublinoh

You don’t “gotta have one” so you’re not “gonna have one”, lol. Wagon people are a rare and loyal breed.

E55AMG253

Working on a few as we speak. I without a doubt wan't one. Just have to find the right combination of car/miles/seller/price.

Dublinoh

Good luck with your search, the wagon guys really seem to love them.

cdumitru

https://portland.craigslist.org/clc/...378278269.html

E55AMG253

Wow............. Now I just have to convince myself to pay the the $20k cash over what the bank will loan on this car. Absolutely gorgeous.

Rafichicago

Judging from the photo is looks phenomenal. Not a fan of the wheels but definitely well optioned example. Price on a higher side being an 07.

E55AMG253

I'm curious whats considered normal "price hike" on these wagons. This one is $12k over retail book.

Rafichicago

It’s kind of weird. People seem to pay for them no matter what. I’ve paid 6k over kbb value for mine being an 09. Good thing is that it’s well equipped. However I don’t see options to have a bigger impact on prices. It almost seems like they should start going up in value in some point. Newer ones are easily available. But thiose W211s seems to be something else.

knowbenz

You can't go off of KBB for hard to find cars, they probably give a similar value as a sedan on there. If all cars for sale are $10k over KBB then the market value is $10k over KBB. Banks don't care how rare or hard to find in good condition a car is. They just worry about how quick they can get their money back when you default on the loan

cdumitru

I am sorry for not making it clear, not my car, saw it on craig's list as I was browsing around the website. I saw this car a while back at 503 Motoring, I think the owner there is a big E55 guy, he was very keen on checking my sedan out, so we started chatting. If is the same car, and I think it is, lots of work has gone into it.

I can dig some more if you want me to, good luck with the search, they are pretty rare.

cdumitru

Very true, KBB does not apply to such rare cars... in most cases KBB is your best friend when you are trying to buy a rare car such an AMG, but quickly turns into your worst enemy when you try selling such rare car. I know I tried using KBB when I was looking for my E55 sedan, didn't get me too far.

Good luck with the search either way.

cdumitru

Here you go, found the initial posting
http://www.503motoringsales.com/vehi...5790eb095d595a

BetterTomorrow

I have been on a lookout for a few months.
Recently got one with impeccable service record, every 5000 miles from MB Dealer.
When buying a 10 yrs old German luxury car, I think how little miles a car has becomes moot point, things will break if they have not already regardless of miles due to age.
I would rather buy a car with regular service records than the one with too little miles for its age (phrase like "being stored most of its life" does not interest me at all).
Also if one has to get a loan to buy 10 yrs old high performance car, perhaps that is not a financially sound decision, things will break and it will be costly to maintain and more loan may be needed?
I think this is a "want it" car, more so than getting a newer model with warranty, and like a lot of other things in life, "want it" category is usually not cheap.

E55AMG253

Most people including Dealers and 95% of banks do though. Most people apply for a loan when purchasing a vehicle. The increased amounts people are asking for these cars is not covered by the bank. So it all becomes out of pocket. A very risky proposition if you ask me.

E55AMG253

Finacially sound decision? Have you ever heard of building up and establishing good credit? Car loans are excellent for that. When I say risky proposition I’m mainly speaking on Bank value for if the car is stolen you’re screwed. You’ll get a check for $15k to replace a car that you paid $25k for that was completely stock. Yikes

Strigoi

Maybe if you complain about how much they costs on here some more everyone that's selling one will drop their price just for you.

If you don't like the prices, don't buy one. Simple as that. *****ing about it will do nothing.

cdumitru

These are all valid points, but you gotta keep in mind these cars are not part of that 95% group that you are referencing. These are hand built fairly rare cars that have a strong following, especially for the super rare wagons. I would guess most people that own these cars probably pay cash, and have more than one car. Buying one of these is anything BUT a sound financial decision, these are not about "needs", these are about "wants". I would think that if you have to finance one of these, or if this is in anyway part of a credit establishing exercise, there are far better ways to do it. Good luck either way, these are great cars.

Pcar2Bcar

Get one and enjoy! I bought my immaculate black 06 E55 wagon about 8 months ago and am enjoying the hell out of it. I looked for a few months before pulling the trigger on one from the other side of the country that was used in the summertime, and part of a 10 car collection. No expense spared at the MB dealer for maintenance and other than the supercharger bearing, it's been gas and go. I agree that it's a tough lump to swallow over the sedan prices but I routinely get "Wow, how did you find one of those?" and "Don't ever sell this!" comments weekly. I paid $28.5K with 64K miles. It has 76K on it now and after a spirited, high-speed run to SoCal back from Vegas with a newer 911 and C63S last week, I'm simply amazed by the power and comfort of this car. Good luck with your search!

E55AMG253

Easy there skinny. This is a "discussion" part of the forum correct? Just getting everyone's opinion on the matter as well as voicing mine.