Trade-in for 06 M5 or 07 E63?
Lexus Champion
Joined: Feb 2006
Posts: 2,170
Likes: 98
From: California
KBB lists the high blue book trade-in value for my car at $27,700 (assuming it's back to stock). I am highly tempted to trade it in for either an 06 E55 ($47k), 07 E63 ($54k) or 06 M5 ($54k) for around the same price. In the past I test drove an 02 and 05 E55 and fell in love. Our car is good but it's not as satisfying.
I definitely want the car and affordability is not an issue, my only concern is the economy. So far my wife and I both have jobs. My wife is a project manager for a large corporation and I am a manufacturing engineer for a small start-up (both in the medical device field). The industry is fairly stable. I'm at my 5th company in 8 years and my wife's been at hers since 2002. Typically, it takes me between 1-3 months to land a new job after a layoff (company closure, acquisition, etc.). Being that I've been laid off in the past, I'm confident in finding a new gig with my experience and skillset. However, with the current economic situation, it kind of worries me a little more. Let me know what you guys think from the current economic standpoint, should I let go of my indulgence or fulfill a dream?
I definitely want the car and affordability is not an issue, my only concern is the economy. So far my wife and I both have jobs. My wife is a project manager for a large corporation and I am a manufacturing engineer for a small start-up (both in the medical device field). The industry is fairly stable. I'm at my 5th company in 8 years and my wife's been at hers since 2002. Typically, it takes me between 1-3 months to land a new job after a layoff (company closure, acquisition, etc.). Being that I've been laid off in the past, I'm confident in finding a new gig with my experience and skillset. However, with the current economic situation, it kind of worries me a little more. Let me know what you guys think from the current economic standpoint, should I let go of my indulgence or fulfill a dream?
1. There is NO WAY any dealer will consider your car at high trade in value, maybe good.
2. If you are lucky, you will get the 'Good' trade in value. Most dealers go by wholesale value which is below the 'Fair' value on KBB! The wholesale value is the value which dealers can get the same car at auctions.
3. If they do give you the excellent trade in value, most likely you would get raped without lube on your purchase.
Just be careful, with me advice
Lexus Champion
Joined: Feb 2008
Posts: 2,448
Likes: 2
From: Japan
If you are even thinking that this car is an indulgence and are even a little bit concerned about the future than I say hold on to what you have and save for a rainy day. If you have the stability finacially now and if everything goes well, you may be able to pick an even better car in the future. Just my humble opinion.
Lexus Champion
Joined: Jun 2003
Posts: 2,375
Likes: 21
From: California
I'll give you an answer that I've just posted on MB World so that you know that I am not biased.
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
I'll give you an answer that I've just posted on MB World so that you know that I am not biased.
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
i totally agree on the maintenance part. that's pretty much the reason why i refuse to get a used one, just way too much to risk. in that perspective, that's why i prefer leasing bmw. maintenance = $0, warranty = $0, and after lease return it and walk out
Lexus Champion
Joined: Jun 2003
Posts: 2,375
Likes: 21
From: California
Very true!
If weren't for the fact that I put so many miles on my car, I wouldn't mind having an ultimate leasing machine.
And at the end of the lease, just drive the sucker back on the FWY in 2nd gear redlining it all the way. Hahah j/k
Jon
If weren't for the fact that I put so many miles on my car, I wouldn't mind having an ultimate leasing machine.
And at the end of the lease, just drive the sucker back on the FWY in 2nd gear redlining it all the way. Hahah j/k
Jon
hahaha very nice post
i totally agree on the maintenance part. that's pretty much the reason why i refuse to get a used one, just way too much to risk. in that perspective, that's why i prefer leasing bmw. maintenance = $0, warranty = $0, and after lease return it and walk out
i totally agree on the maintenance part. that's pretty much the reason why i refuse to get a used one, just way too much to risk. in that perspective, that's why i prefer leasing bmw. maintenance = $0, warranty = $0, and after lease return it and walk out
if i purchased my car, i don't think i'd redline it as much as i want
in an intoxicating car like this, keeping it under mileage is a challenge, hehe
Lexus Test Driver
Joined: Jul 2008
Posts: 1,279
Likes: 0
From: CA
I'll give you an answer that I've just posted on MB World so that you know that I am not biased.
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
***********************************************************
Think of it as a high maintenance girlfriend. If treated right, then it'll draw all the attention you'll ever need no matter where you take her.
Whether how problematic the car really depends on what experiences you have with other makes/models. Simply put, I have two Lexus cars, one with 260k miles and another one with 85k miles on the clock. In the past three years, these two Lexus cars have made fewer trips to the service shop combined than my Mercedes has in 3 months.
Granted, my CL had Starmark warranty so I might have been taking advantage of the coverage while it was still in effect. However, had my CL been a Lexus, I would simply have slept through the warranty without thinking twice.
I wouldn't recommend using a CL as a sole daily driver, not because it doesn't deserve to be driven but rather, just in case if something goes wrong and it has to be serviced, you don't ever want to be stranded without a backup car at all.
***********************************************************
There's nothing wrong with wanting to own a high performance car such as the E55/E63/M5. However, before buying one of these cars you should definitely have extra budgets for maintaining one.
It's best that you actually have the budget for a backup vehicle, as certain Mercedes models are simply just not suitable for chores of a daily driver.
Jon
Well I have seen plenty of older E55s on the road with 150+ mileage. IIRC, a magazine had an article wherein they reviewed a 1999 with similar high mileage and the owner had said the only thing that has been replaced was a failed ZF transmission.
Lexus Champion
Joined: Jun 2003
Posts: 2,375
Likes: 21
From: California
The E55 you're referring to is the pre-2003 version, which developed far less problems than the current generation.
Similarly, I can probably pick a 240D from the 1970s and tell you that it's even more bullet proof than my SC430.
It's disappointing that many Mercedes built in the 2000s suffer from quality issues.
Jon
Similarly, I can probably pick a 240D from the 1970s and tell you that it's even more bullet proof than my SC430.
It's disappointing that many Mercedes built in the 2000s suffer from quality issues.
Jon
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