Any one else shopping a W210 and finding prices too high?

[raywbo]

Yep, those are roughly the prices I'm seeing. I'm OK with higher mileage on the clock so long as the maintenance can be proved out. I have also found the MB dealers in my area don't seem to keep anything older than 3 years old in pre-owned inventory, so the cars are wholesaled or auctioned.

Hurricane Sandy did affect the used car market here in the northeast. Being in the NJ/NY/CT area, many thousands of cars were flood damaged and I don't thin everyone is buying brand new replacements.

What's interesting is that there are some posts of people buying W210's back in 2009-2011 and the prices seem to be about the same as now.

I know I'll find one eventually.. just need to be patient and diligent.. I spend many hours combing through ads on the Internet.

I actually scouted one in Florida.. been thinking about it, the fly out + drive back wouldn't be terrible I suppose. I'm burning up way more than the cost of a one-way air fair and the 20 hours to drive back endlessly searching the Internet ads and looking at crap cars. From what I learned about car transport carriers, that would be a last resort I think and I need to personally see the car before handing over a check.

I talked to the seller already about dropping the car off for a PPI, which he'll do. I found an Indy MB shop close to him which I'll use. I called the local MB dealer and they wanted $550 for a PPI. No thanks. I don't need them to give the car a colonoscopy, just check all electrics, fluids, body, corrosion, general mechanicals, and let me know if there was any collision work. Carfax checks out too.

They're asking 8K, but will negotiate. I already know the clock and temp pixels are funky and the console trunk release button rocker has come off (he has it, don't know if that snaps back in?) anyway I know the cluster is ~250 to repair and the switch is part of a board with all console switches, so that's a costly one to fix (mb part 400$ +, used around 150$). I would need something back for that... I know they are common problems, but not for 8K.

I would never fly out until that's at least cleared, although the car looked mint from the pictures, I'm told it's immaculate by the seller. 90K miles and full service history - always at MB dealer. Sounds good.. but so did the other five I drove 1-3 hours to go and see.

[fabbrisd1]

Patince and diligence are a good thing - as well as your committed understanding for a PPI to your benefit.

1) I find edmunds invaluable as a 3rd party price guide - "negotiation" is replaced by valid 3rd party value estimation - no one has ever accused edmunds of being partial either to the seller or partial to the buyer

2) Using edmunds as a guideline for "profit" - when the difference between trade-in and dealer retail drops to lets say $300 - after cost of acquisition and new car dealer overhead/pack - that $3K margin can become even less, not making the transaction worthwhile to the dealer.

3) New car dealers are also not a good source for older pre-owned since mainstream lendors that finance new and pre-owned vehicles have set restrictions they will not finance anything older than 2005 - and on 05/06 those notes will be short term. Older pre-owned requires cash buyers - most cash buyers on older pre-owned are as finicky and often more finicky than new-car/recent-model-preowned buyers - simply doesn't pay.

4) Most private party sellers (a) want to sell smoothly without added/adversarial hassle (b) not get ripped off by a fraudulent buyer (c) get tired of phone/internet lookie loo's and phone-scam-artists (d) then there are those that truly believe to themselves they can get higher value for some odd reason

It's just the characteristic - use edmunds as a guide - out of area travel expense be balanced by sharp buy - PPI always - just takes digient search every day and something will come up in the end.

[raywbo]

Fabb, All agreed! Edmunds does indeed seem to be the most accurate pricing source free and available with out subscription. The dealers love to use black book or similar for trade and KBB for retail pricing.. that says something right there.

I recently looked at a nice '02 4M, well maintained, 77K miles, private seller, original owner. He was asking 10, I offered 8 because the car had two accidents - which I would normally walk away from, but the repairs were very good (1 minor parking garage "touch", the other being rear-ended in '08) and it was very well taken car of. I'm pretty good with cars having worked on them my whole life, so I had a good feeling about the car.

He reluctantly came down to 9, but would not agree with me that a car with an accident history has diminished value on resale. I pointed out to him the trunk alignment isn't perfect and you had to slam the lid to get it to latch (I'm confident this could be adjusted). He held firm, so no deal.

I agree that a fender bender history should not affect value on a 10 year old car, but it appears that a new bumper support was welded into the unibody and the trunklid and bumper bits replaced. The rear quarters were not repaired - I pulled the trunk trim back and looked, so damage was only mid-center.

I don't know if I'm being to cheap or too picky, but if I were him I would have sold it to me for 8K and been done with it.

[fabbrisd1]

Any accident reported on CarFax diminishes value - you were correct to hold firm - unless there is a balancing value factor such as "rarer" options/color - or fresh tires/brakes/tranny service - things that put real dollars back into your pocket post-purchase that are not accounted for by edmunds/3rd party value guides.

Keep the beat !

[welfarewagon]

I don't mind the prices going up as a seller/owner. Just as you would want your home values to go back up to pre housing bubble days. My 01 E320 only has 70K miles and has been completely repainted, all services records etc. I would start out at $10K as my asking price if I were to sell, which i I am not any time soon.

[Kajtek1]

I always take ebay as real life market value.
Pristine 99 E300DT with 160k, what is low mileage for diesel sold for $7,400
The low mileage $15,000 car still has no offers.

[raywbo]

Originally Posted by Kajtek1

I always take ebay as real life market value.
Pristine 99 E300DT with 160k, what is low mileage for diesel sold for $7,400
The low mileage $15,000 car still has no offers.

Indeed.. actual selling price, on average is market value. The guy selling for 15K was originally asking $17K on craigslist.. Set an unrealistic price and you will indeed be a car collector..

[Cancer_Researcher]

Originally Posted by raywbo

Indeed.. actual selling price, on average is market value. The guy selling for 15K was originally asking $17K on craigslist.. Set an unrealistic price and you will indeed be a car collector..

True. And a W210 is no collector car material. I doubt it will ever become a collector car, even 50 years down the road.

[alabbasi]

What people are asking and what people are getting are two completely different things. If it's been on sale for a while, I would not be afraid of negotiating.

[230Terry]

Just bought an '01 E320CDI wagon 128K on the clock, service history to 110K superb condition for ......... £1400 that's a little over $2000.