Oliver Enterprises

Guys - A friend of a friend is selling a 2006 CLK500 convertible. Supposedly it's clean, and has 80k miles. I will confirm that it has a clean title, etc. I'm hearing he will take $5k for it, because he just backed out and clonked someone else's car, but in a pick-up truck he owns (not the Merc). And is now on the hook for like $1,500 for that bill, and has had 4 or 5 very recent accidents and his insurance company previously told him that the next claim they pay, they also drop him. I also hear he doesn't have the $1,500 to shell out. A long story there that's not relevant really.

But, suffice it to say, I did a quick NADA check, and it seems the vehicle is worth maybe about $12k. I'm thinking I give him $5k and turn and regurgitate the vehicle (I don't want some Merc breaking down on me ) and pocket $6k or $7k. Is it worth my time to bother with it? Am I wrong about the vehicle's value (assuming it is clean, good shape, clear title, etc)?

I also wouldn't keep the car because I already have a fleet (5 cars, street legal golf cart, street legal dirt bike (CRF 450X) and an ATV. I have enough.

What do you guys think?


Jason

DJWLDW

I would say give the guy $8,000. If you can sell it for $12,000 fine if not then $10,000. It appears that life has got this guy bent over already no since making him grab his ankles!

Dennis

comotiger

Looks like this friend of your friend is in dire straits. If the car is indeed worth 12K, and could be quickly sold for close to that, you could probably do him a good turn by helping him sell it and keeping the 6-7K for himself instead of you. Definitely a seller's commission for you . Just a thought...

dlbuckls10

I love the way the CLK drives and its sporty. I'm sure you can make your money back. $5K is low and hopefully he will take your offer.

LS430FL

My advice is to go on eBay and check the completed listings section. That's what I always do when deciding to flip a really good deal car. I think you will be surprised...I don't see one on there selling for $12K with those miles. Don't forget you have to pay tax on the purchase and insurance for however long it takes you to sell the car. Plus any service should something break while waiting to sell it. I see a couple selling for $9-$10K with those miles but that is dependent on condition and location as well. Also, one thing that scares me about buying a car from someone in money troubles is if they can't afford their bills chances are they can't afford to properly service the car anymore so the car may have some expensive deferred service to be done he has not told you about. Reminds me about how some guys will buy Repo cars and flip them but you never really know what you are getting because if the car was repossessed chances are it wasn't serviced with an open checkbook. Just a thought.

shinbob

In my area there's a CLK500 convertible with 65K miles for sale (not sold) for $10.2K, and this is at a retail establishment. Figure they'd probably take $9K for it. So I'd take that $12K estimate with a grain of salt.

Oliver Enterprises

I will find out more. I'm already hearing potential corrections that are likely steering me away. I'm hearing that maybe the car is a 2004, and has 130k miles. And now I hear the guy is trying to sell it for $6,995. Now, that's just what I'm hearing. And if that stuff is true, I'm not wasting my time. I would only title the car in my name and pay whatever need be. I would tuck it into the garage with no insurance and no registration. Here in GA, you can get away with that. I will determine the facts of the matter. Thanks for the advice guys.

1WILLY1

iTrader: (9)

I love buying and selling.

Whether its cars, or wheels, or anything of value, I think its a fun hobby or side gig.

But if you have a job , or family, or a life of any kind....its usually not worth it.

Cars take forever to sell, by forever I mean monthssssssssssssssssssssss .

The rate of serious buyers to non serious buyers is like 1 out of 50 , yet the non serious ones still like to email you and talk to you , and ask for specs and photos .....some of them even wanna come test drive the car and check it out ...why? I don't know.

Also the only way you usually get a buyer to seriously throw down some cash is when you are selling at a very low price, well below market value...... almost no one pays retail value unless its from a dealer or special circumstances.

If the retail on this car is realistically around $10k , and you can get it for $5k, be prepared to sell it for like $6-$7k and hold onto it for a few months at least.

Be prepared to put a few hundred (or more , its a Mercedes) , fixing up little noticeable things , be prepared to have the car sit for 3-6 months, be prepared for all the emails, questions and people who want to come test drive it and lastly be prepared to sell the car for a minimal profit.

I would say unless you need the money , or you are slow at work or have some extra free time, to probably not bother with it

Oliver Enterprises

Coming in loud 'n clear big *****. I believe I'm going to let this pass by. Based on all your points being virtually my own thinking, it's just not worth my time.

Let's let this thread die guys, if I find out he's needing rid of it, and I can steal it, I'll come back in on the post and update.


Jason

Junglequac

Jason,
I am guessing as you well know 2006 was at the tail end of MB's Dark Ages. Though not positive, I believe as it is a 500, it has the Airmatic suspension that makes whatever issues those with air suspension equipped 460's pale in comparison in terms of expense and frustration.

That said, there is a thriving community online for DIY on these cars and given your mechanical knowhow, you are one of the few I would not be so reticent about saying to go for it. Provided the juice is worth the squeeze, which it seems to be, go with it.

While the South gets much grief from other parts of our country, I do appreciate how laissez faire things are in regards to vehicles. In Knox County where I live, there is no emission testing and statewide is relegated to only a few counties around Nashville and maybe Memphis (not positive on that one)

While I do appreciate this freedom, I have a massive pet peeve of those who choose to bastardize their $60,000,000 new diesel p/u's by "rolling coal" which I find unctuous and pointless. While being able to tune a turbo-diesel to 700-800 lb/ft of torque is rad, pointlessly making a cloud of diesel smoke and ruining ones catalytic converter seems the height of folly.

Chaos236

iTrader: (1)

I'd be interested in buying as a keeper if you pass and I have a brother in Atlanta(Cuming) who will pick it up.
Thanks,
Gregg

Oliver Enterprises

What's unctuous? And what catalytic converter? You ain't from around here, are ya boy?

Junglequac

Nonsense! Grew up in Knoxville and graduated from UGA and have never lived North of the Mason-Dixon line. Even go hunting now and then. Just used to be a professional writer in a former life and while I have done alright, my father is an physician and also has a PHD in Neurochemistry on top of it so growing up, education was hammered.

Prolly why as I clucked off at UGA graduating with around a 2.4 while honest to God never attending many classes aside from tests and finals he wanted to kill me. Did much better when in grad school. Not that I could have done much worse...

roadfrog

Prolly? PROLLY!!!!??? Good Lord, man.....what kind of school was that???

Junglequac

I learned good!