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moose is offline Old 05-04-2012, 11:21 PM   #1
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Hey guys, my family is looking for a used luxury car under 20k. We were looking at a used 2000 Mercedes S500 71K miles for $16,000. Is that a good deal? And how reliable would a 12 year old Mercedes be?

Any advice and suggestions on other cars are appreciated!
 
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lost_elephant is online now Old 05-04-2012, 11:26 PM   #2
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You can probably get a 3-4 year old bmw 3 series for around 20k.
 
wreck is offline Old 05-04-2012, 11:32 PM   #3
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BMWs 530i with 100k miles about 2004 run about 15-17. probably be able to find some with lower milage for closer to 20k
 
vlaurelio is offline Old 05-04-2012, 11:56 PM   #4
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you want a pre owned luxury car which is solid and reliable at that price range? get a lexus LS. and to save on maintenance and repairs, simply bring it to a toyota dealership

http://www.cars.com/for-sale/used/le...ce&sf2Dir=DESC
 
Stack24 is offline Old 05-05-2012, 06:52 AM   #5
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This is one mistake a lot of people make when looking to get a car in my opinion. Getting a car such as an S500 comes with a lot of maintenance that you have to be ready for. German cars are already have a high cost of maintenance but the get exponentially more expensive as you go up in the model range.

Yes a car could be a good deal but can you afford the cost of ownership after the fact if it doesn't have a warranty. Things like a normal brake job on an S class can run you over 1K at the dealer for all parts and labor. Of course you can get a better deal but this is not going to be some take it to a cheap brake place and get pads replaced because some of these cars come with rotors that have to be changed every time your pads are worn. Usually they only last about 50-60K miles depending on how you drive the car so they might be close to the time to be changed if they haven't already.

Minor things to fix on these cars are going to cost a decent amount so at the end of the day. If you can afford the upkeep then go for it. But don't expect to pay that much and not have stuff to pay for in the future.

If you do decide to go that route get a Pre Purchase inspection done on the car at a dealership or independent mechanic you trust. Might be a couple hundred bucks but they do a thorough check on the car and let yo know what you are getting into. I wouldn't buy a luxury high end car without it. It's peace of mind and you realize things like how much is left on the brakes, minor problems, major ones as well. I would hate to see you get the car and have to change the brakes out in 3K miles.

I'm big into cars and do a lot of research and have a German car myself that needs some upkeep but it's something I like and I do a lot of things myself and have connections to get things cheaper. These cars are not like Honda's, Toyotas, or even Lexus where you can just put gas and go and no worry.

They take more care and preventative maintenance to make sure you don't run into major problems.

If you can afford all that, then by all means go ahead and get the car no one is gonna stop you. Just think down the line. As someone else mentioned you can get some serious bang for your buck if you go with a Lexus.

I personally don't mind buying older cars but if you are going to look at one that is 12 years old make damn sure you get the PPI and some kind of service records.

BTW i checked the auction pricing on the S500 and they are going wholesale to dealers for about 9K on the high end with and average of about 8K so it seems pretty high for a car that old. Lot of room to negotiate if it's a dealer I'm sure.

You can always check sites like KBB.com or NADA.com to get pricing on cars and their values to give you a guage, but the market is always changing.

http://www.kbb.com/mercedes-benz/s-c...ty&anchor=true

Private party value in outstanding condition is going to be about 11,500 which very few will fall in. So that's about right with wholesale/auction pricing at about 8 - 9 K. So I would say the price you are getting is super high for the car.

Sorry went on for a while.

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Last edited by Stack24; 05-05-2012 at 07:00 AM.
 
glad_ken is offline Old 05-05-2012, 11:42 AM   #6
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What is the name of that book that teaches you how to get the best price for a car?
 
Medicine N Music is offline Old 05-05-2012, 12:21 PM   #7
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If you want luxury car, you need to be able to pay for maintenance and repairs. It really doesn't sound like you're done research in this department. Lexus and Acuras are better in reliability while Mercedes are either average or below average according to Consumer Reports. This means that you'll likely fork out quite a bit in terms of repairs. Buying 12 year old luxury cars is just not the right way to go. It doesn't have the high class, rich appeal anymore, and it will cost you a lot more money fixing minor things.
 
MIAGI99 is offline Old 05-05-2012, 12:26 PM   #8
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Def do not buy at that price b/c KBB has it listed much less price in excellent condition private party value. Vlaurelio, mentioned Lexus and that's what I would suggest or a older Infinite M45 or slightly smaller G35. Much better value IMO and you can run the miles up and still not depreciate in value much if you decide to sell later and are very reliable.
 
Sajan is offline Old 05-05-2012, 02:16 PM   #9
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maybe it's just me..but whats the point of buying a 12 year old luxury car??
 

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