The Value Of Used Cars.

[The _Don]

Was that a car you bought new or secondhand?

Ex demo.

 

[Red C220]

Slightly off line but just to quote an example of value against new. I recently bought a CL600 v12 2001 in showroom condition Had it well checked out by an independant Merc specialist who could find no faults. Drives like a dream , thirsty as hell but who cares, looks a million ££ . This car cost new nearly £100mand cost me £7k to buy. 2nd hand ford money?? There is merit in looking at prestige vehicles with history at decent prices.

Are you a tall chap with a liking for suede shoes, jeans, suit jackets and Bob seger?

 

[crockers]

Are you a tall chap with a liking for suede shoes, jeans, suit jackets and Bob seger?

Is this now a dating agency?

 

[bpsorrel]

This forum has a fairly diverse mix of owners , but all love cars. Has the current economic climate forced/altered your plans to change/keep your present vehicle(s) , and will your next car be a step up or down?

Definate change of plans when I get back from Russia. Was just going to part ex my 211 for a CLS, and keep my other two cars. Now, I'll be chopping two cars in for the CLS, thus (hopefully) not adding any cash to the deal and reducing my motoring expenses by one car. Sad, but necessary as in real terms my overall income has gone down and savings are needed.

 

[Setanta]

To put things in context, a 2007 s600l was advertised by a main dealer last week and now sold today. Their other one went in two weeks. The heavy metal is moving.

 

[artyman]

Yes but what price did it sell for, did the purchaser drive it down significantly from the sticker price, and the dealer thought it was an opportunity to shift something that might stick around.

 

[ghouluk]

my purchasing strategies have changed signifficantly, I've been umming and ahhing about what to replace my GTR with after the insurance payout, and in the end i've decided nothing - there has always been a loss associated with owning sports/exotica, but at the moment I'm sitting tight with my 3k clk.....poor show i know, but in fuel card and car allowance land, big engine older car is the best way to maximise what you get to keep imho

 

[124fan]

I've been looking for a high spec 'c' class car in my local dealership for two years now! on my last contact with them I was told 'we don't sell that many high spec ones so don't get them back in' so I've been waiting invane!

Lately I went to look at other cars and was amased to be offered 3750GBP for my '04 E320!! I now know I'll be holding on to her and driving her for a good few years yet!

I heard that car numbers are set to double over the next 15 years and that the roads will never hold them all, pricing the fuel as has started will help keep the roads clearer and also means that it will continue to become a rich mans passtime!

Cheers

 

[John]

When you say that it would retail at £40k, do you mean that he would have then put it up for sale at that price?

Yup.

However, if you didn't know, it is not pure profit. Trader has to factor in how long it will hang around for whilst it depreciates, trade-ins, costs of any work required etc. etc.

 

[biturbo]

ive been looking at s600 w220 recently and the price seems to be exactly the same asking anyway, and they seem to shift pretty quick, or at least advert isnt there anymore. The W221 seemed to have dropped massively in a year. I looked last year for a w221 and none less than 34k. Now ive seen a few for low 20k.

Yeah ABC is a shocker. Ive spent 3k on mine. 2 new struts and new valve blocks.
My car is like new now the amount ive spent on repairs. Must have been a gimp who had it before me.

 

[biturbo]

if i sold my car for 10-12k then that would be around what ive paid to repair it in 1 year thats where is starts to be best to keep it.
Anyway as far as luxury / speed etc there isnt much better and for 10k nothing i would imagine comes close, only time id sell it is to change completely to something like a 4x4.

 

[BenzedUP]

Thats what traders what us to think...

 

[Setanta]

Yup.

However, if you didn't know, it is not pure profit. Trader has to factor in how long it will hang around for whilst it depreciates, trade-ins, costs of any work required etc. etc.

I am aware of that. But selling at £40K suggests that the market will bear £40K or close to it - dealers don't seem to be in the habit of knocking thousands off the price for precisely the reasons you cite above (based on the various posts and comments I have seen from traders over the years).

 

[Setanta]

Yes but what price did it sell for, did the purchaser drive it down significantly from the sticker price, and the dealer thought it was an opportunity to shift something that might stick around.

When the same (main) dealer is getting in the same stock (S600 and S500's) and selling them and restocking with more, I think it is safe to assume that they are not losing any money on or or being driven down significantly by the consumers.

I can only speak for the large engined cars though and have no idea about the smaller models.

 

[Setanta]

ive been looking at s600 w220 recently and the price seems to be exactly the same asking anyway, and they seem to shift pretty quick, or at least advert isnt there anymore.

Which ones are those? Off the top of my head there are of the S600L W220 biturbo:

1 which has been for sale for about 8 months
2 which have been for sale for about 2 and 4 months
1 which is about 3 months but disappears then comes back again
2 others which have got to have been hanging around for around 3 months

You are right on the W221 prices though.

 

[Davo]

A point about VED, if your car was built before March 2001, there are no CO2 figures recorded - so my 2000 CL500 is officially a zero emissions vehicle!

Cheap road tax, and a better Capital Allowance rate than a modern one as well.

 

[amgmaster]

i went to have a look at a ml 63 amg on sunday . the dealer had the car up at £59,995. they have had the car for a while so i thought they might be up for a deal so when i asked what the best deal they could do they said £59k.
i got talking to the chap and asked him why there was so much difference between glasses [what most dealers use when bidding on a car] the price on glasses was £47k and said that even if i was trading that ml 63 to the dealer he would'nt probably give me even book he said to me that we would bid £40k if he was trading that car in.
i was willing to pay £50k for it.

 

[pagzzy]

guys just my two pence but surely when you driving performance/big engine cars you own them for what they are rather then being logical about it ....

ive always wanted a c63 and fortunately worked my ass off for one so i will keep it as long as i can pay for the petrol and still have food on the plate and a roof over my head.....

currently you got to think about money but if you have to why would you buy a performance car ....

just my thoughts

 

[Setanta]

That is why the big engined cars continue to sell and quite well. The people who want them and drive them don't really care (as much?) as others may of the smaller engined cars as others.

 

[John]

I am aware of that. But selling at £40K suggests that the market will bear £40K or close to it - dealers don't seem to be in the habit of knocking thousands off the price for precisely the reasons you cite above (based on the various posts and comments I have seen from traders over the years).

No because they are trying to protect their margin so you have to barter harder to get significant wonga off that.

However, as in the case above of the ML, they aren't budging knowing they will sell it to those of us who don't care as much.

I didn't barter as hard for my car as perhaps I could have done but I was happy with the deal and opted for a better example.