Are semi lux cars worth anything now?

[peppernick]

Bit miffed ...........

I thought I had a really good deal when I bought my CLK350 Sport back in Nov last year. The car was sold for £45,795 new in June 2007. 2500 miles later, I bought it for £30,500, discounted down from £35,000.

It has all the 'required' options for a good resale, minus sunroof.

I've been keeping a keen eye out for an AMG Kompressor model over the past few months. This foxy barge caught my attention (http://www.mercedes-benz.motortrak.com/detail?template=/mb_national_06/hitlistdetail&vid=13901031&capacityfrom=5400&capacityto=100001&yearfrom=1&yearto=2100&lang=en&country2=GB&searchtype=matrix&model11=730&model11=732&model11=5216&model11=731&model11=2930&model11=1920&bodystyle11=4&franchise11=26&vids=13752402,13944666,13716883,13960612,13993380, 13901031,13947300,13993502,13978672,13900277,13927 620,13986426,13897267,13843800,13915407&vidindex=5).

It has been up for sale since January. The price dropped from £37000 to £34000 to £32000 and last week £29995. Took my CLK350 in for a valuation and was given £18000 trade in !! :eek: !!

That is nearly £5500 under book value of a standard spec car!

Parker's valuation CLK350 Sport 07 10k miles

Original Price £40,457
Franchised Dealer £27,140
Independent Dealer £26,430
Private Good £25,250
Private Poor £21,950
Part Exchange £23,130


Looks like my CLK is destined for export ............... :rolleyes:


.

[Black Sabbath]

Trouble is Nick all the big luxury cars have traditionally lost shed loads inside the first 2 years.The latest tax and fuel increases wont have helped :mad:

[Dep]

Can i ask how much have you lost per month in depreciation if you traded it in at £18K?

[XKaLiBaR]

ther taking the piss mate. is that valuation with all the mods on it? why not sell private? have you tried going to other merc dealers for a valuation? they might of got a bit suspicious when they saw the car all pimped out :D what do you mean it might be going for an export?

nice find by the way. mileage a bit high though? considered an M5, its seems to be the popular choice at the moment on this forum :p

[XKaLiBaR]

Can i ask how much have you lost per month in depreciation if you traded it in at £18K?
about £2k a month? :o

[Styler]

That is ridiculous depression. How much is similar car like yours selling for on autotrader?

I thought it would be worth at least 22-25K still. If you sold it privately i bet you would get at minimum 20K, but still a significant loss.

[peppernick]

I have no need to change cars, but just the itch that needs scratching from time to time, followed by a slap to wake myself up to appreciate what I already have.

TBH, I have no real intention to change cars. To get rid of the CLK now is totally wasteful. Just curious to see what the situation is like.

Wonder how the car dealerships are surviving at the moment :confused: I don't think the profit margin made on any car sold is adequate to justify the amount of effort being put in to shift the cars. The big chunk of the profit goes to the finance companies, not the dealers.



Can i ask how much have you lost per month in depreciation if you traded it in at £18K?
Way too much. This car is only worth selling back in KL when I take it back with me end of next year, or it'll stay in the family and be run to the ground. In the meatime, it'll be put to good use!

[Dep]

about £2k a month? :o

Oh dear :eek:

With everything going on with the credit crunch cars aren't the most attractive purchase as the moment.

[peppernick]

With everything going on with the credit crunch cars aren't the most attractive purchase as the moment.
Actually, car values now make them very attractive to buy, as long as you don't sell.

Ask our resident new M5 owners :D Best time to snatch up a mega deal.

[Dep]

Actually, car values now make them very attractive to buy, as long as you don't sell.

Ask our resident new M5 owners :D Best time to snatch up a mega deal.

Do you think i'd get a good trade in value of my Bora against an E60 M5? :confused:

[peppernick]

Do you think i'd get a good trade in value of my Bora against an E60 M5? :confused:
I would try to get served first ........ :D

[Dep]

I would try to get served first ........ :D
That was harsh!!! Lol :D

[Purvesh]

I would try to get served first ........ :D

LMAO!!! :D

[Dep]

LMAO!!! :D
Push the knife in, lol! :D

You are referring to my age right? :confused:

[SYE]

and the fact your turning up in a bora asking to test drive an M5:eek:

[SpeedTrap]

If you have time to look; the E60 M5s are a great deal. I negotiated a £3K discount with the BMW dealer in Swindon by holding out for a week:) and it had only done 14k miles:)

[Dep]

and the fact your turning up in a bora asking to test drive an M5:eek:
Hold on, it does have a spoiler. Its got sporting credentials! ;)

[jurka]

If you have time to look; the E60 M5s are a great deal. I negotiated a £3K discount with the BMW dealer in Swindon by holding out for a week:) and it had only done 14k miles:)

Jarome,
couldnt hold for longer?:)

[imu]

That's outrageous.

However, the market has definitely slumped as i have had dealers calling me more often than not about E92 M3s for sale at 'good' prices :p

[mystic sport]

Nick, go to several dealers to get a trade in figure. That is disgustingly low and they know it. There is still a market for those cars but it has just got slightly smaller. You have proved this as you inquired about a 55 ;) . Give it a week and take the 55 for a testdrive and start throwing some strong signals you are interested. Flogging a CLK350 will always be easier than a CL55 and they know it but they just don't want to give you book. Been there so many times, bide your time and you will get a much better figure ;) .

[MEGA]

Actually, car values now make them very attractive to buy, as long as you don't sell.

Ask our resident new M5 owners :D Best time to snatch up a mega deal.


Haw haw haw.





OT, Nick that is insane. I would keep the car seriously rather than have thrown so much money into it just for nothing. Atleast now you are on the shallow end of the depreciation curve so keeping it another 18 months or 2 years should mean that your monthly depreciation gets a little lower than it is now atleast...

[peppernick]

Nick, go to several dealers to get a trade in figure. That is disgustingly low and they know it. There is still a market for those cars but it has just got slightly smaller. You have proved this as you inquired about a 55 ;) . Give it a week and take the 55 for a testdrive and start throwing some strong signals you are interested. Flogging a CLK350 will always be easier than a CL55 and they know it but they just don't want to give you book. Been there so many times, bide your time and you will get a much better figure ;) .
Thing is I don't want it bad enough to pester for the 'right' price. The sensible side says forget it as the 350 is a treat itself, and the devil half says 'V8 power!.....' Being in a position to do it only complicates matter. So I'm fighting the inner demons.

[imu]

I know the feeling Nick. Keep fighting the inner demons, the 55s will drop further and heavier than the 350 in the coming months. Running costs aside, your 350 is a technologically newer car with longer warranty than that old used (and maybe abused) barge :D

[zarnd]

supercharge the 350!

[SpeedTrap]

Nick, know you long enough that deep down; there is a massive itch to be scratch:) You need to go down to the dealer today! Pronto! :)

[MEGA]

Nick if you can afford to give away £2000 a month then I am more than happy to give you my account number. I'll take it off your hands.

Just a point!!!!! You wouldn't give it to me so why would you do the same thing with the credit companies.

And if you went for a 55 wouldn't it be like throwing good money after bad? You would go into that knowing FULL well that the exact same depreciation curve would hit you again, and you'd lose just as much money again.




I'm only trying to play devils advocate though, because it seems like your mind is made up already :)

[FullHouse]

So I'm fighting the inner demons.

You will loose, everytime

[styler2002i]

personally never like the last model.. but the lastest.. oh my god show on in the showroom... i nearly fainted when i saw the price though...

[XKaLiBaR]

Thing is I don't want it bad enough to pester for the 'right' price. The sensible side says forget it as the 350 is a treat itself, and the devil half says 'V8 power!.....' Being in a position to do it only complicates matter. So I'm fighting the inner demons.
you know what you need to do, when the inner demons start to take over inside you.....go to church ofourse :D

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[Raj]

Nick, you know my thoughts. Definitely keep the 350.

As for car prices, they are ridiculous. But the thing is even the guys who have just got good deals on M5s now, I just wonder what they will be worth in a years time for example.

Definitely hold on to my little toy Golf that goes very well round bends...lol

[jordan3054]

I agree you should scratch the itch Nick, then bring the new car back to KL. If you are bringing something back, may as well take advantage of UK prices and bring something home that scratches that "itch"

[mystic sport]

Nick, you are going back to the ring in june, you know your head will be hurting with decisions to be made on the way home :p .

[alexsh1]

Wonder how the car dealerships are surviving at the moment :confused: I don't think the profit margin made on any car sold is adequate to justify the amount of effort being put in to shift the cars. The big chunk of the profit goes to the finance companies, not the dealers.


With so many people getting redundant in the City, no wonder the value of luxury cars plumeted. Its all aggravated by fuel (i.e.inflation).
Dealerships are struggling big time now. With companies like "Car Giant" selling soooo many ex-companies BMWs/Mercs (for example E90 330i 2006 at around 18k) at a mega discounted price :eek:
Tough time!

[peppernick]

I agree you should scratch the itch Nick, then bring the new car back to KL. If you are bringing something back, may as well take advantage of UK prices and bring something home that scratches that "itch"
Trouble is, the cars that really scratch my itch will cost an arm and leg in annual road tax back in KL (>RM15K). And as such, they are worth absolutely nothing come resale, because nobody will be able to afford the upkeep of such cars; those who can will buy new.

The CLK350 is the perfect car to bring home. It is the most usable and saleable car among the ones I've looked at. Hence, I bought it.

It's just between now and Dec 2009 ...... I've got an itch to scratch. If I had a covered parking capacity for 2 cars, I will buy a track toy like what DodgyKen did. But it's just too much hassle swapping parking permits when you have to street park.

[dodgyken]

I will buy a track toy like what DodgyKen did. But it's just too much hassle swapping parking permits when you have to street park.

There is a website <rummages through emails> http://www.parklet.co.uk/ - which allows you to rent a garage space.

OOPS should I have not done that :D

[peppernick]

Hmmmm ..... workable :D

I've checked out a few car storage places in London and they cost an arm. But never found that site.

Thanks ;)

[Purvesh]

You are referring to my age right? :confused:

And the Bora! :p

[alexsh1]

Hmmmm ..... workable :D

I've checked out a few car storage places in London and they cost an arm. But never found that site.

Thanks ;)

I might be able to help you on that one
How long do you think you'd need a parking in London?
All details in pm pls