Shortly there will be many comments about the inaccuracy and uselessness of the True Market Value tool.
My personal experience a few years ago was that it was a good predictor of what I was able to get in a private party sale of my 2007 Forester.
The CL65 is a specialty vehicle and given how expensive it is to fix I would expect that the calculator would have a difficult time accurately pricing it.
Personally I would spend my $20k elsewhere, but it sounds like the buyer knows what he is getting into and can afford it. I hope he enjoys the car.
Congratulations on your new purchase. NO REFUNDS! Did you hear me? NO REFUNDS! ITS FINAL! We don't want to get a call from you whining about a $5k repair a month from now.
Seriously, though. You've got to be kidding me. You bought this 15 months ago, put a measily 17,000 miles on it and the value went from (your purchase price) $34,000 to a selling price of $20,000. What the heck? You had an extra 42% depreciation on an already 9 year old car, plus put a lot of money in repairs.
Wow. I mean, wow. Good riddance. Glad to see her gone.
I think it would be more accurate to call Mr. Soliman a car dealer and not a collector. It will be interesting to see what he's able to turn around and sell this steaming pile of crap for. As Mr. Barnum is often misquoted as saying: "there's a sucker born every minute..."
WOW! depreciated like a new car while racking up stratospheric repair bills.
wasn't the last repair quote with all the things that need fixing 5 figures? ( I know it was from the dealership but that is gonna be big $$$$ in parts alone + some of that is probably not exactly DIY stuff so you'd at least need to find some Benz focused indie-shop)
That's not a collector, that's a dealer...In any case, good job on getting rid of that money pit. I'm quite the fan of expensive cars, but this one just doesn't sound like it provides much joy of ownership vs days in the shop and $$ spent to keep it running.
It's an odd market for the 2005-2006 65 cars - I think because there aren't enough of them for market forces to work efficiently. Presumably someone buys a few of the higher priced ones - they eventually disappear from the listings. But on the other hand, I've personally inspected and test driven 2 S65s that were listed around $22,000 - one with 93,000 miles that I don't know the ownership history of, one with 80,000 miles that was a one owner on the lot of the dealer he traded it into. The 80,000 mile one sold in a couple of weeks, 93,000 mile one was still listed last I checked. I think the folks who buy the higher priced ones are either buying it because it's a nice one near them, or they're trying to follow the usual advice of buying the nicest example of (insert car here) you can afford, and taking a high asking price as an indicator of quality. I think Edmunds had a toe in both of these categories when they bought this one. But I think the real price for one these with 60-90K miles is closer to the $20,000 that they got, or yes, the $25,000 of the TMV calculator.
Speaking of the TMV tool, I've ran it on some specialty trim level, lower production and other similar performance models that might be considered somewhat "rare" and it can be a little off from real world going rates. For similar cars like this CL65 it would be nice if a notation/flag/range or something could be displayed that there isn't much data to work with and values may vary. For "normal" cars like a Camry or minivan it does seem to be a lot more accurate.
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Comments
My personal experience a few years ago was that it was a good predictor of what I was able to get in a private party sale of my 2007 Forester.
The CL65 is a specialty vehicle and given how expensive it is to fix I would expect that the calculator would have a difficult time accurately pricing it.
Personally I would spend my $20k elsewhere, but it sounds like the buyer knows what he is getting into and can afford it. I hope he enjoys the car.
Seriously, though. You've got to be kidding me. You bought this 15 months ago, put a measily 17,000 miles on it and the value went from (your purchase price) $34,000 to a selling price of $20,000. What the heck? You had an extra 42% depreciation on an already 9 year old car, plus put a lot of money in repairs.
Wow. I mean, wow. Good riddance. Glad to see her gone.
"one here in indiana with just less than 81k miles and asking price is $20k if you search on edmunds.com. same color, same year.
http://www.bmwofschererville.com/auto/used-2005-mercedesbenz-clclass-60l_amg-schererville-46375-in/2362680/"
it is still for sale.
wasn't the last repair quote with all the things that need fixing 5 figures? ( I know it was from the dealership but that is gonna be big $$$$ in parts alone + some of that is probably not exactly DIY stuff so you'd at least need to find some Benz focused indie-shop)
Yes, an RX-7 Twin Turbo !!
"If you sell it, you'd better disclose the issues. I predict you'll get less than $20k."
So I was off by $1.
Hope the new owner enjoys this money pit.
And yes, I don't believe in the TMV tool; it's usually wrong on the cars you sell.
2015 price: $20,000
I'm no math wizard but that seems like some mighty steep depreciation. Maybe a world record.