Price Check on Vehicle Please

[RUG]

Apologies for my first contribution to this forum being a request for assistance..!

I've been offered a S500L Sept - 2004 year, 110K miles for £7k. Spec wise it has all the toys incl sat nav, dvd, TV's etc etc.

The mileage is obviously high but its been fully maintained by an MB main dealer. The gearbox has been replaced and has 2 years warranty on it. Its fair to say no expense has been spared, £10K has been spent this year alone on service/maintenance.

I'm considering either purchasing the car with a view to selling my current 4.5 year old C class or selling it straight on. If I was to keep it I am looking to purchase a new car in march next year so would only be running it for a short period. Do you guys think there is any profit to be had at this price? I've looked on autotrader and ebay, prices seem to vary wildly. Not sure if there is any market at all for a car like this in todays "climate"..? Is there a risk running this even for say six months other than lots of fuel?
Any advice much appreciated.

 

[Beetnik]

Big car's are difficult if not impossible to move on in the current climate and in 6 months it may be worse.

I've had a very modest sized car on Autotrader for 3 weeks, priced lower than anything comparable and I've had 2 people to look at it and 1 seriously low bid.

Very definitely a buyer's market.

 

[tromppost]

The Glass's guide on the network q web site as below
Part-exchange Price:
Excellent condition: £11700
Average condition: £10550
Below average condition: £9380

 

[V8mate]

The good thing is that the car is post Oct 2003 when the S-Class range was updated, including the newer COMAND/Satnav.

Do not accept any faults with the car, no matter how seemingly minor - there were many issues with the electronic systems and you don't want to be buying into garage bills from the outset.

The interior and exterior of a car like that should be in exemplary condition.

Assuming all of the above is achieved, the price is competitive. But I'd only buy it for yourself, as the wait to sell it on - as Beetnik explained - may diminish the excitement of any profit achieved.

 

[V8mate]

The wisebuyers site gives mileage adjusted figures of:

Car valuation adjusted for 110,000 miles
Retail: £10,285
Private Good: £8,745
Private Average: £7,355
Private Poor: £6,385
Part Exchange: £8,055
Trade: £7,636

 

[RUG]

Thanks guys, great responses.

That last valuation puts a reality check on it - far lower than the glasses mileage adjusted quote I already had. Think I'd only consider it around 5k looking at that.