Clk Prices

[twomercs]

Clk Depreciation

I purchased my 2000 CLK230 with AMG body kit and wheels two years ago for round about the £15K mark, which was about the going rate at the time. I have just started thinking about changing again and looking into what similar cars to mine are going for and was shocked to find that you can now pick them up for round about £8K - I thought that Mercs were supposed to reasonably hold their value - anyone got any comments or ideas as to why the value has dropped so much?

 

[jberks]

That is reasonable depreciation!
Look up any other car and you 'll see. e.g. You can get a 2005 Mondeo diesel for 14k or a 2004 mondeo diesel for 7k! Imagine taking it back after a year and losing 50%. You've only lost 43% over 2 years.
Also, the new model which was only just out 2 years ago, is now hiting the used market which won't help. Assuming you bought from a dealer, the premium will also be a factor.

Apart from anything else though, where did you get 8k from? Looking through the autotrader web site, there are some for 8k true, but there are also some of the same age and model going for far more than that.

To be honest, it's hard to find a more expensive way of owning a car that to only keep it for 2 years. Initial depreciation is always nasty as you have to cover the dealer's profit which will be a proprtion of the overall cost, then if you're trading in, their profit when they sell your car again. You get hit on both sides and it's this chunk of money that you have to spread over the ownership period. The shorter the period, the worse it feels. Remember you buy at retail and sell at trade. You've already paid out, the best thing to do now is hold on to the car. You've lost around 3k p.a. over the last 24 months,(half of which is pure dealer profit, leaving only the other half as actual depreciation, so I suspect you'd lose no more than 1-2k over the next 12 months and it will reduce further the longer you go.

The old story of buying a merc, running it for 12 months and selling for more than you paid, stopped being a reality around 1979.

 

[Speedmaster]

We have a Porsche Cayenne (not a great car sadly) and it has lost around £15k in a year!! ouch. LAst time going to buy such a new car, hence looking at 3 year old S500's to replace it

 

[Rory]

We have a Porsche Cayenne (not a great car sadly) and it has lost around £15k in a year!! ouch. LAst time going to buy such a new car, hence looking at 3 year old S500's to replace it

Everyone should lease (or PCP) cars like that - if they won't quote you an acceptable rate then walk away.

I have a colleague in the US who personal leased (many cars are financed like that in the US) a Cayenne for his wife for $599/mth (£330).

 

[Speedmaster]

it is on a pcp but seems to be depreciating quicker than they planned for!! The guaranteed future residual in another two years is only £8k more than the current trade price for it