My experience trying to sell my car

[spiceboy]

So I'm trying to sell my car, right? And I got these FOR SALE signs all over the windows and I've actually got a few calls because of the free advertising. Anyway, on more than one of the occasions, when people hear about the price ($36000 -- 03 Mercedes Benz CLK320 w/ 42000KM), they seem surprised and actually one of them said he didn't know the price was so "high" and is out of his budget. Honestly, does a mint-looking Benz coupe look like it's worth $20K? Just because it's pre-owned, do people automatically assume that it's only worth a few thousand dollars?
End of my rant.

BTW, if you are interested, here's my FOR SALE link:

03 CLK320 FOR SALE (http://forums.beyond.ca/showthread.php?s=&postid=2041035#post2041035)

[QuasarCav]

These cars depreciate faster than you would think.

[boxer23]

your car is priced fairly decent, just looking at the black book price as well as the Ontario prices for this model and year, your price is decent. I only found couple priced significantly lower (i.e 30K for a 03clk320 with 36km) So I would suggest just hold on, im sure you will find a buyer. the problem is most people with that kind of money could find a much nicer different car(depending on what somoene would want) also someone could just as easily get one for cheaper in America. But I would just hold on, or put some dubs on that bad boy ahha to make it sell quicker. A car would be much more appealing to a customer if it looked nicer, so buy some rims and maybe lower it, and you got urself a deal:D

[spiceboy]

<in response to QuasarCav>
Umm, I'm the car owner, don't you think I'd know how much it depreciates?
My point is: It's a Benz. And regardless the age of the car and when it looks mint inside and out, its value should always be higher than that of a Protege or Accord of the same year; let alone my car has so LOW mileage.

[rc2002]

Originally posted by boxer23
your car is priced fairly decent, just looking at the black book price as well as the Ontario prices for this model and year, your price is decent. I only found couple priced significantly lower (i.e 30K for a 03clk320 with 36km) So I would suggest just hold on, im sure you will find a buyer. the problem is most people with that kind of money could find a much nicer different car(depending on what somoene would want) also someone could just as easily get one for cheaper in America. But I would just hold on, or put some dubs on that bad boy ahha to make it sell quicker. A car would be much more appealing to a customer if it looked nicer, so buy some rims and maybe lower it, and you got urself a deal:D

^ I think the opposite is the case. I would pay much more for a car that is original. You'll find that the majority of the used-car market is not looking for a car that has been modified. 99% of the time, the modifications are actually lower quality than the OEM parts they're replacing.

[boxer23]

I actually meant just make it more appealing, it doesnt actually have to be morer appealing, get it?
the rims is not really a modification, but makes the car look much better, doesnt actually help much in performance
so getting 19inch amg wheels for the car, would help selling it faster

[spiceboy]

Originally posted by richardchan2002


^ I think the opposite is the case. I would pay much more for a car that is original. You'll find that the majority of the used-car market is not looking for a car that has been modified. 99% of the time, the modifications are actually lower quality than the OEM parts they're replacing.

I second this opinion. That's why I don't advertise about the Eibach springs even though it maintains the original ride comfort and all it does is drop the car by 1 inch. Most people have 2nd thoughts when they find out the car is "modded". Only on Beyond that I would mention about the springs coz I assume most people here know what the springs do and not do.

[QuasarCav]

Originally posted by spiceboy
&lt;in response to QuasarCav&gt;
Umm, I'm the car owner, don't you think I'd know how much it depreciates?
My point is: It's a Benz. And regardless the age of the car and when it looks mint inside and out, its value should always be higher than that of a Protege or Accord of the same year; let alone my car has so LOW mileage.


It is much higher. A 2003 Accord or Protege would not even approach half of your asking price.

[spiceboy]

Originally posted by boxer23
I actually meant just make it more appealing, it doesnt actually have to be morer appealing, get it?
the rims is not really a modification, but makes the car look much better, doesnt actually help much in performance
so getting 19inch amg wheels for the car, would help selling it faster

Well, I think the crowd that would be interested in a CLK is usually more mature ... hence the 19" rims wouldn't be too much of an appeal to them. But yes, if I was to keep the car, I would definitely put on some dubs :D

[spiceboy]

Originally posted by QuasarCav



It is much higher. A 2003 Accord or Protege would not even approach half of your asking price.

Yes, thank you for agreeing with me. Hence my rant about people acting all surprised when they heard $36000 for a low mileage mint Benz coupe!!

[benyl]

Originally posted by spiceboy

My point is: It's a Benz.

Doesn't matter. It is an old Benz. Plus it is the base model.

I will refer you to this thread: http://forums.beyond.ca/st/177100/used-auto-sales-in-marketplace-rant/

[2EFNFAST]

Sorry, it's a base model benz - a wana-be-ballings-but-i'm-not benz.

I wouldn't pay anywhere near that much for it, but good luck selling it :)

[heavyD]

To you and others it's a Benz but to alot of people it's a used car priced in the new car/SUV stratosphere.

For example. Benz's & BMW are very nice cars but I picture lame wannabe rich ballers when I see a young guy driving one which makes them a turnoff for me. I'm not concerned with image enough to pay extra for a used car. I'm sure your car is nice but for that money I'd rather purchase a new, fully loaded VW GTI.

[Ekliptix]

The price seems about $5000 high to me. I personally don't think you'll find a buyer at that asking price. It is a MB, and it may be luxurious, but that's it.

[Toms-SC]

You should drive a BMW for your next car

[Kartelli]

if it makes you feel any better spiceboy,

im still enjoying your prelude I bought from you about 3 years ago, have dumped another few grand in her since I've owned it.


Shes being traded for an STi in about a month or so

[KRyn]

Sorry, it's a base model benz - a wana-be-ballings-but-i'm-not benz.

:werd:

[infected]

Is it off warranty yet? Maintaining a MB can get expensive so it's possible people are turned off by the car having no warranty if that's the case.

Have you tried posting an ad in the Herold?

[Crymson]

Don't luxury cars depreciate MUCH fast than economy cars, as a percentage of their asking price?

I just assumed they would -- the logic being that anyone willing to buy a luxury car, has the money to buy new and would prefer new, especially if used is only a few thousand less. So in order for a used luxury car to be attractive to another segment (NOT the "we can afford brand new benz" segment) it would have to be considerably cheaper, like to within the range of a brand new non luxury car, of the same class.

That's my thinking, and i would expect it to be even more exaggerated in Calgary, due to very high ammounts of disposable income and being the hottest new "luxury item" market.

[Euro838]

Very nice looking car and wish I could afford something like that. Unfortunately with Calgary's housing market, a lot of people have large mortgages that $36K would be better off putting it towards. As for those that can afford to pay $36K cash for a car upfront, they may be looking for something newer or faster. Like someone else said in this post, luxury cars can be quite expensive to maintain once they go off warranty. Anyways, you just have to wait for the right buyer and I'm sure it'll be worth it for them. G/L with the sale!

[eur0]

Have you tried posting in the Auto Trader? Your target audience, both on the street and Beyond is very limited.

I would also call some MB dealerships and see if you can consign your vehicle to them. People at these dealerships are obviously looking for a nice luxury vehicle but the sales person can actively push potential buyers to look at your car if they don't want something new. The price tag probably wont seem too out of place for them knowing the cost for a quality car.

I also agree that the price seems a tad high, but what do I know I drive a winter beater. :dunno:

[Weapon_R]

My friend paid 30k for an 01 430, and i'd much rather have that than an 03 320...

[bobby_lu]

Originally posted by Weapon_R
My friend paid 30k for an 01 430, and i'd much rather have that than an 03 320...

Thats you though....alot of people would also rather have a newer car with less km's.....a newer lower model is probably comparable to a slightly older "higher" model


Though 36K is a bit high, its not that high...but this is certainly not your target audience...Beyond is like a wholesale warehouse....:nut:

[mdeluxe]

nice ride! I think your right on with the price.

[max_boost]

Yeah you should get use to it. When buying and selling you will come across all different types haha

[Mitsu3000gt]

I think if people are buying used, their mostly looking for the V8.

Alot of people buy the base model benz's so they can say they have a benz (not necessarily refering to you personally) but when it comes time to buy a used one not many people want the base model.

[Orbie]

I think you're in the right ballpark, but a drop of ~2K would make it more reasonable. You should definitely be in the 30K+ range, so anyone calling in expecting it to be in the low 20's is just trying to lowball you.

[Mangina]

Why not put a price on the for sale sticker? You'd think someone driving a Benz would have enough smarts to figure that puzzle out?

[grrrouch]

hey man dont be mad that no one wants to buy your car... come over here to the okanogan, youll sell it way faster here , tons of old fucks around here have that kinda dough to toss around. my pops sold our boxster in a week in peachland :thumbsup:

[spiceboy]

Originally posted by 2EFNFAST
Sorry, it's a base model benz - a wana-be-ballings-but-i'm-not benz.

I wouldn't pay anywhere near that much for it, but good luck selling it :)

Dude, you go to benz.ca and "build-a-car" and see how much a BASE-MODEL-CLK comes around at. Given that the 2006+ BASE MODEL has a bigger engine now, you can minus a few thousands bucks to get an idea how much my car would cost new.
I don't think I'm asking for a ridiculous prize. After checking the black book value, visiting numerous dealerships, and frequently checking the User car market, I've been adjusting my price and I think it's very fair.
All I'm ranting is if you are calling to ask about my car, don't be surprised if I'm asking more than what I would for a used Camry or Accord. That's it.

[spiceboy]

Originally posted by Kartelli
if it makes you feel any better spiceboy,

im still enjoying your prelude I bought from you about 3 years ago, have dumped another few grand in her since I've owned it.


Shes being traded for an STi in about a month or so

Hey dude!!!
I still see her few times a year since. How have you been??? Are you now in Calgary?
STi???? That's quite a step-up! Congrats!

[spiceboy]

Originally posted by infected
Is it off warranty yet? Maintaining a MB can get expensive so it's possible people are turned off by the car having no warranty if that's the case.

Have you tried posting an ad in the Herold?

Thank you for your suggestion. Yeah, I'm aware that the off-warranty issue and that would be a potential turn-off for lots of buyers.
I've tried CanadaTrader but to no avail ... I got more calls posting the FOR SALE signs i my car!
I haven't tried Harold ... but that's expensive!!!

[spiceboy]

Originally posted by Mangina
Why not put a price on the for sale sticker? You'd think someone driving a Benz would have enough smarts to figure that puzzle out?

I wouldn't say if I have enough smarts or not ... I'm just a regular Joe. I did consider putting up the price on my stickers at one point, but I figure letting those interested to call me and inquire allows me to introduce the car a little bit better. I'm sure I would have gotten less calls if I had written down the price!

[spiceboy]

I do agree with all of you who had put in your "constructive" comments. Thank you. It's a tough market selling this kind of car. People who can afford will prefer dishing out $20-30K more to buy new ... those who can "kinda" afford it wouldn't want to give up $30K+ cash just for a car (or just don't have that much disposable cash) ... and those who can't afford it simply can't ...

Only thing I can do is keep it (last resort) ... or sell it at wholesale price to dealerships :(

[2EFNFAST]

Originally posted by spiceboy


Dude, you go to benz.ca and &quot;build-a-car&quot; and see how much a BASE-MODEL-CLK comes around at. Given that the 2006+ BASE MODEL has a bigger engine now, you can minus a few thousands bucks to get an idea how much my car would cost new.
I don't think I'm asking for a ridiculous prize. After checking the black book value, visiting numerous dealerships, and frequently checking the User car market, I've been adjusting my price and I think it's very fair.
All I'm ranting is if you are calling to ask about my car, don't be surprised if I'm asking more than what I would for a used Camry or Accord. That's it.

You paid almost 70k CDN for it new? YIKES!

Sorry, but for 80k i've got a hair under 700rwhp in one car, and a used Viper.

(both of which have better reliability! (hehe, okay, sorry, couldn't resist that MB jab ;) )


I will admit I did not think it was that much new :/

[eur0]

Like I mentioned did you ask any dealerships about consignment? You still maintain the asking price you want, minus the commission (I would expect 1000-2000).

[spiceboy]

Originally posted by 2EFNFAST


You paid almost 70k CDN for it new? YIKES!

Sorry, but for 80k i've got a hair under 700rwhp in one car, and a used Viper.

(both of which have better reliability! (hehe, okay, sorry, couldn't resist that MB jab ;) )


I will admit I did not think it was that much new :/

I didn't buy it new either. I bought it used. Still I bought it 2 yrs ago so the depreciation was there but not as much as is now.

[spiceboy]

Originally posted by eur0
Like I mentioned did you ask any dealerships about consignment? You still maintain the asking price you want, minus the commission (I would expect 1000-2000).

Frankly I wasn't aware of consignment at dealerships. I was under the impression that if I ever dealt with them, I would have to sell them the car (at wholesale price). Do all dealerships allow consignment? And the seller gets to decide on the price?

[eur0]

I'm not sure, I was just suggesting that you call a couple places and find out if it is possible.

[me&you]

Originally posted by eur0
Like I mentioned did you ask any dealerships about consignment? You still maintain the asking price you want, minus the commission (I would expect 1000-2000).

Neither franchised dealer will consign your car here. You might have some luck at another of the indie-dealerships, but expect them to want a commision of 10%....

Also, you can't just name your price. They'll want to know that it's not a waste of time (over priced), so pricing is something you'll have to discuss with them. Also, you might have to do some reconditioning to bring the car to a proper retail level. You'll also probably have to leave the car with the dealer.

Just things to keep in mind.

[syeve]

Originally posted by spiceboy
&lt;in response to QuasarCav&gt;
Umm, I'm the car owner, don't you think I'd know how much it depreciates?
My point is: It's a Benz. And regardless the age of the car and when it looks mint inside and out, its value should always be higher than that of a Protege or Accord of the same year; let alone my car has so LOW mileage.

Unfortunately the market decides what your car is worth, not you.

[benyl]

Originally posted by syeve


Unfortunately the market decides what your car is worth, not you.

Yep. Your car is only worth what someone is willing to pay for it.

[spiceboy]

Originally posted by syeve


Unfortunately the market decides what your car is worth, not you.

Hahha .. this is so typical Beyond ... someone (in this case, I) posted an opinion which is based on FACTS and then there are guys who try to argue and contradict. Everyone has a right to share his/her 2 cents on forums, but you simply can't argue with FACTS. I know market decides price of cars. Everything is Supply and Demand. But tell me, which part of my statement below is FALSE?

"Umm, I'm the car owner, don't you think I'd know how much it depreciates?
My point is: It's a Benz. And regardless the age of the car and when it looks mint inside and out, its value should always be higher than that of a Protege or Accord of the same year; let alone my car has so LOW mileage. "

[spiceboy]

Originally posted by benyl


Yep. Your car is only worth what someone is willing to pay for it.

I agree, which is why I've been dropping my price every now and then.
I knew Euro cars depreciate faster than Jap cars, but this rate is quite significant. Think about it: 4.5 yrs old car, 42000KM, mint cond, and it has dropped >50% in value. Perhaps it's better to simply lease an Euro car? Less hassle to try to sell it at the end and perhaps end up saving a bit more?

[benyl]

On average, car depreciate 50% after 3 years. Some take 4 years to depreciate that much. Others, like Caddilacs, take only 2.5 years... haha

[keroppi]

Whoever thinks that CLK doesn't worth his asking price may consider buying my 1990 Mazda Miata. I can pretty much guarantee you that its depreciation process has completed and there won't be any more depreciation to happen.
Plus, if you can't afford a MB coupe, why not consider a Miata? It also has 2 doors, a steering wheel and its top can open too! :)

Stay tuned to see my FS thread soon.

[infected]

The depreciation rate sounds about right.
Just keep it and throw the dubs on like you originally had in mind. :D

[rc2002]

Originally posted by spiceboy


I agree, which is why I've been dropping my price every now and then.
I knew Euro cars depreciate faster than Jap cars, but this rate is quite significant. Think about it: 4.5 yrs old car, 42000KM, mint cond, and it has dropped &gt;50% in value. Perhaps it's better to simply lease an Euro car? Less hassle to try to sell it at the end and perhaps end up saving a bit more?

I've followed your for sale threads and your price drops aren't significant enough to even cover depreciation.

Back when I wsa looking, I found all kinds of low mileage MB cars. But even then they were hard sells because most of them were off warranty and MB parts and service is expensive regardless of mileage.

[spiceboy]

Originally posted by richardchan2002


I've followed your for sale threads and your price drops aren't significant enough to even cover depreciation.

Back when I wsa looking, I found all kinds of low mileage MB cars. But even then they were hard sells because most of them were off warranty and MB parts and service is expensive regardless of mileage.

Normally how much would one (seller) ask for above the blackbook value when selling private?

[keroppi]

It's funny to hear the typical misconception: Euro cars like MB and BMW are expensive to maintain and so many people stay away from the used ones. Which is a good thing to us who would shop for a nice Euro ride for its true handling capability while many others continue paying $35000 for a Camry or $45000 for a Sienna! Because they truely believe that these cars won't break and the new car smell worths the price tags
:nut: :nut:

[alloroc]

Originally posted by spiceboy


Thank you for your suggestion. Yeah, I'm aware that the off-warranty issue and that would be a potential turn-off for lots of buyers.
I've tried CanadaTrader but to no avail ... I got more calls posting the FOR SALE signs i my car!
I haven't tried Harold ... but that's expensive!!!

buysell.com

[FiveFreshFish]

You must realize that today you are facing competition from US cars because of our strong dollar. Lots of people will put up with a US speedometer/odometer, the importation process and perhaps no warranty to save several grand.

[GITRDUN]

I have had a similar experience to yours back in the day when I had put "for sale" signs in the window of my Acura (3.2CL Type-S). Those people that called because they saw the ad were shocked that I was asking 27K for a "used car". When truth be told, it was in mint condition, super low mileage, 2 sets of tires, and one of only 2700 ever made with a 6-speed manual tranny. I did end up selling the car for 27K, but only after I put it in the Auto Trader. My advice to you is to invest in an ad in the Trader, or otherwise you will never reach your target market.

Aside from that, do yourself a favor and don't compare resale values of a CLK320, a 62K-brand-new car, to that of a 33K-fully-loaded-V6-Accord. It's kind of an apples vs. oranges case. Besides that, the Accord is well known for being one of the top cars in its class for years and years... and unfortunately, that's more than can be said about a CLK320.

A good way to judge what your car is worth is to look at all other 2003 CLK320's in Calgary and/or Souther Alberta, make a spreadsheet listing mileage and price, and use the range you find to determine the value of your car. If you have lower mileage, and truely believe it is in better condition than the others that are listed, target the high-end of the range, but make sure you market the car that way. In your description, throw in a comment or two about it looks/smells/drives like new, not a chip/scratch in the paint, etc.

That's what I did when I tried to sell my Acura and the first guy who called drove up 2 days later and bought it on the spot.

Good luck to you! :thumbsup:

[DepTrotter]

i dunno man, if you have to spend this much time defending your price theres something off there

[Skyline_Addict]

Originally posted by richardchan2002


^ I think the opposite is the case. I would pay much more for a car that is original. You'll find that the majority of the used-car market is not looking for a car that has been modified. 99% of the time, the modifications are actually lower quality than the OEM parts they're replacing.

:werd:

[me&you]

Originally posted by FiveFreshFish
You must realize that today you are facing competition from US cars because of our strong dollar. Lots of people will put up with a US speedometer/odometer, the importation process and perhaps no warranty to save several grand.

There is no direct competition for his car from the US market. Importing a MB is generally too costly and time-consuming to affect the Canadian MB market. The easier to import BMWs and Audis on the other hand could be swaying potential buyers in this market to look south for a different brand.

[spiceboy]

Originally posted by DepTrotter
i dunno man, if you have to spend this much time defending your price theres something off there

Not sure what you meant by that ...
Oh well ... I still stand by my original post/statement.

[spiceboy]

Originally posted by me&amp;you


There is no direct competition for his car from the US market. Importing a MB is generally too costly and time-consuming to affect the Canadian MB market. The easier to import BMWs and Audis on the other hand could be swaying potential buyers in this market to look south for a different brand.

I've been looking on Autotrader and BuySell and couldn't find many cars alike. There's one with low mileage and at quite a low price at Platinum Motors ... but one would be cautious when seeing such a good deal at a Used Car dealership ...

[me&you]

Originally posted by spiceboy


I've been looking on Autotrader and BuySell and couldn't find many cars alike. There's one with low mileage and at quite a low price at Platinum Motors ... but one would be cautious when seeing such a good deal at a Used Car dealership ...

I know that car and it's clean.

One should also be cautious when making accusations about the condition of something they know nothing about.

[spiceboy]

Originally posted by me&amp;you


I know that car and it's clean.

One should also be cautious when making accusations about the condition of something they know nothing about.

You are right, and I take back what I said.
I should go down there one day and check out that CLK.

[Hakkola]

Originally posted by spiceboy


I agree, which is why I've been dropping my price every now and then.
I knew Euro cars depreciate faster than Jap cars, but this rate is quite significant. Think about it: 4.5 yrs old car, 42000KM, mint cond, and it has dropped &gt;50% in value. Perhaps it's better to simply lease an Euro car? Less hassle to try to sell it at the end and perhaps end up saving a bit more?

Just a couple examples.

2005 resale values
http://www.cars.com/go/crp/buyingGuides/Story.jsp?section=Passenger&story=passengerResidual&subject=stories&referer=&year=2005

http://www.edmunds.com/reviews/list/top10/102467/article.html

CLK has been at or near the top for resale value for awhile.

It is not better to lease a Euro car, it is usually more expensive to lease, unless you get owned on the sale of the car, but that is the sellers fault.

I think your car should sell at $35 000.

[spiceboy]

Originally posted by Hakkola


Just a couple examples.

2005 resale values
http://www.cars.com/go/crp/buyingGuides/Story.jsp?section=Passenger&amp;story=passengerResidual&amp;subject=stories&amp;referer=&amp;year=2005

http://www.edmunds.com/reviews/list/top10/102467/article.html

CLK has been at or near the top for resale value for awhile.

It is not better to lease a Euro car, it is usually more expensive to lease, unless you get owned on the sale of the car, but that is the sellers fault.

I think your car should sell at $35 000.

Thanks for the info Hakkola. It's nice to hear this from someone who knows a thing or two about MBs. I did my research too before I had purchased the car and one of the factors was its relative high resale value. You recommended $35K? It's not too far off from my $36K. The majority of the replies on this post has made me think that I am asking a ridiculous price for my car.