Mercedes Valuation

br1anuk

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Just been to a Mercedes dealer in my 2013 Facelift E350 Bluetec Estate 52,000 showroom condition and full service history to enquire about part exchanging it against a newer car.
Their valuation £10,500.
I walked away thinking they'd have it for sale for £14,995 all day long.
I remember now why I don't like car dealerships and why I preferred to lease a new car.
 
OP
OP
br1anuk

br1anuk

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I know, but I just thought I'd put this out there just in case anyone was thinking of buying a new/newer car. I put the details of the car I went to look at into WEBUYANYCAR and it came back with "we cannot give a valuation on this type of vehicle at this current time because of the coronavirus pandemic".
So who knows what any car is worth at the present time. God knows what it'll be like in six months time.
 

greenmanslk

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Bearing in mind the cost it will take to ready the car for sale, to fund a warranty and the VAT on any profit, with unknown demand for a 7 year old diesel, which is approaching the end of its economic life, what you do think would be an appropriate P/X value?
 

T5R+

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Dealer would generally put such a car on the lot but will be overstocked and so into the major auction houses BUT I have never seen so many E350 on stock in my life.

There is a massive ongoing debate over prices of used cars that has been raging for the last three months.

WBAC have not been valuing cars for many, many weeks.

The trade-bibles have almost locked onto pre-Covid prices until they source meaningful data.

Some are waiting for the market to crash. Others think that there will be shortage until manufacturers open factories and build/ship cars.

OPs car is no-way overpriced.
 

greenmanslk

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Quite. A MB dealer won’t be putting a 7 year old car on their forecourt - it will go straight to auction

As for retail price, take at look at what they are offered for at somewhere like Mercland - not anywhere near £15k.

 

Dryce

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Some are waiting for the market to crash. Others think that there will be shortage until manufacturers open factories and build/ship cars.

OPs car is no-way overpriced.
I'm not sure quite how your opening statement justifies the conclusion.
 
OP
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br1anuk

br1anuk

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It’s just a discussion. If no one can agree on the value of used cars then the whole game just collapses.
Ive posted the E250 for sale at a Mercedes dealer to show that Mercedes dealerships do sell seven year old cars.
 
OP
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br1anuk

br1anuk

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The other point I’d like to raise is it’s no wonder so many people are now leasing cars.
Fixed price
No haggling
Set end date
 

greenmanslk

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Can’t pay for it if you have no income / then you don’t have a car to get to work to earn the income to pay for the car you need..
Hard to change before end of term
Can’t modify it
Not as tax efficient
More interest paid if you go for a low initial deposit.
Usually tied in to expensive main dealer servicing
Total payments are not very different to the depreciation, ad that is all you are paying

have I missed anything?
 

zipdip

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There are a lot of lease cars,BCA are running auctions for Lex and others right now ,well on Tuesday,I beleieve online only would be interesting to see the prices on the hammer,a few mercs for sale.
 

Dryce

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It’s just a discussion. If no one can agree on the value of used cars then the whole game just collapses.
Ive posted the E250 for sale at a Mercedes dealer to show that Mercedes dealerships do sell seven year old cars.
It's not yet a 7 year old car.

The tradition has been that the Approved Used scheme doesn't go past 6 years old. And the majority of dealer stock will be in that scheme. Trade ins that are older are typically sold on to independents.
 

greenmanslk

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Hence I said “might” .. a surprising number of owners incorrectly declare they own the vehicle... from a insurance claims handler I know.

not declaring it certainly complicates and delays any settlement..

not worth the risk imo.
 

Pontoneer

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The other point I’d like to raise is it’s no wonder so many people are now leasing cars.
Fixed price
No haggling
Set end date
Ridiculous monthly payments for something you will never own and can’t do as you please with .
Also ties you into a job you might want to leave .
no thanks
 

Pontoneer

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Can’t pay for it if you have no income / then you don’t have a car to get to work to earn the income to pay for the car you need..
Hard to change before end of term
Can’t modify it
Not as tax efficient
More interest paid if you go for a low initial deposit.
Usually tied in to expensive main dealer servicing
Total payments are not very different to the depreciation, ad that is all you are paying

have I missed anything?
Yep - often ties you into a job if leased through you employer

oh and surcharges for minor damage such as car park dings
 

Pontoneer

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Not always.

There are some astonishing deals at times.

(Depends on how long you intend to keep the vehicle and what you are looking for.)
I look to buy a car outright for a few hundred pounds and run it indefinitely - not throw hundreds of pounds down the drain every month and have nothing to show for it .
 

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