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    May 11, 2005 9:34:50 PM

    Mike S
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    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005

    SL depreciation

    Hi guys,

    Would just like your opinions and thoughts on SL's keeping their values. I have a '04 SL 55 AMG, I bought it for 203,000 euros(our taxes are BAD!). Out of curiosity, I went to the dealer today to ask for the trade in value of the car, to my shock and disbelief, they gave me a trade in value of 145,000 euros!!! That's 58,000 euros depreciation in ONE YEAR?!?! It also only has 17100km\10700miles on the odometer and it totally full house. Can anyone please explain to me why it dropped so drastically?

    Thanks.

    May 11, 2005 9:54:24 PM

    FutchM
    Rennteam Moderator
    Futch
    Loc: EU , United Kingdom
    Posts: 4759, Gallery
    Registered on: May 14, 2002
    Reply to: Mike S

    Re: SL depreciation

    Quote:
    Mike S said:
    Hi guys,

    Would just like your opinions and thoughts on SL's keeping their values. I have a '04 SL 55 AMG, I bought it for 203,000 euros(our taxes are BAD!). Out of curiosity, I went to the dealer today to ask for the trade in value of the car, to my shock and disbelief, they gave me a trade in value of 145,000 euros!!! That's 58,000 euros depreciation in ONE YEAR?!?! It also only has 17100km\10700miles on the odometer and it totally full house. Can anyone please explain to me why it dropped so drastically?

    Thanks.



    Steep but not uncommon, depreciation on new cars is bad.
    Especially high end cars.
    V12 cars are even worse.
    but also bear in mind that you are quoted by a dealer, you could easily sell 10 to 20% more to a private.

    May 11, 2005 9:54:24 PM

    FutchM
    Rennteam Moderator
    Futch
    Loc: EU , United Kingdom
    Posts: 4759, Gallery
    Registered on: May 14, 2002
    Reply to: Mike S

    Re: SL depreciation

    Quote:
    Mike S said:
    Hi guys,

    Would just like your opinions and thoughts on SL's keeping their values. I have a '04 SL 55 AMG, I bought it for 203,000 euros(our taxes are BAD!). Out of curiosity, I went to the dealer today to ask for the trade in value of the car, to my shock and disbelief, they gave me a trade in value of 145,000 euros!!! That's 58,000 euros depreciation in ONE YEAR?!?! It also only has 17100km\10700miles on the odometer and it totally full house. Can anyone please explain to me why it dropped so drastically?

    Thanks.



    Steep but not uncommon, depreciation on new cars is bad.
    Especially high end cars.
    V12 cars are even worse.
    but also bear in mind that you are quoted by a dealer, you could easily sell 10 to 20% more to a private.

    May 11, 2005 9:57:52 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: FutchM

    Re: SL depreciation

    yes, cars are about 80% more expensive here than in europe. especially on exotics. I mean losing 58,000!!! in one year, i could have almost bought a new 997s if i lived in UK with that money! for example on how expensive cars are here, there is 1 enzo in south africa, the owner paid a WHOPPING 1139240.50 euros for it due to our import tax etc.

    thanks for the input fanch

    May 11, 2005 9:57:52 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: FutchM

    Re: SL depreciation

    yes, cars are about 80% more expensive here than in europe. especially on exotics. I mean losing 58,000!!! in one year, i could have almost bought a new 997s if i lived in UK with that money! for example on how expensive cars are here, there is 1 enzo in south africa, the owner paid a WHOPPING 1139240.50 euros for it due to our import tax etc.

    thanks for the input fanch

    May 11, 2005 10:00:56 PM

    FutchM
    Rennteam Moderator
    Futch
    Loc: EU , United Kingdom
    Posts: 4759, Gallery
    Registered on: May 14, 2002
    Reply to: Mike S

    Re: SL depreciation

    Quote:
    Mike S said:
    yes, cars are about 80% more expensive here than in europe. especially on exotics. I mean losing 58,000!!! in one year, i could have almost bought a new 997s if i lived in UK with that money! for example on how expensive cars are here, there is 1 enzo in south africa, the owner paid a WHOPPING 1139240.50 euros for it due to our import tax etc.

    thanks for the input fanch



    Tax is another matter, you should compare depreciation on cars tax free, sorry that taxes are so high in SA, but you should not compare prices with another country on that basis.

    May 11, 2005 10:00:56 PM

    FutchM
    Rennteam Moderator
    Futch
    Loc: EU , United Kingdom
    Posts: 4759, Gallery
    Registered on: May 14, 2002
    Reply to: Mike S

    Re: SL depreciation

    Quote:
    Mike S said:
    yes, cars are about 80% more expensive here than in europe. especially on exotics. I mean losing 58,000!!! in one year, i could have almost bought a new 997s if i lived in UK with that money! for example on how expensive cars are here, there is 1 enzo in south africa, the owner paid a WHOPPING 1139240.50 euros for it due to our import tax etc.

    thanks for the input fanch



    Tax is another matter, you should compare depreciation on cars tax free, sorry that taxes are so high in SA, but you should not compare prices with another country on that basis.

    May 12, 2005 1:30:04 AM

    bazza
    Expert
    bazza
    Loc: uk,za
    Posts: 1393, Gallery
    Registered on: Apr 29, 2005
    Reply to: FutchM

    Re: SL depreciation

    what happen if i move to south africa and ship the car from uk ? do i have to pay tax?

    May 12, 2005 1:30:04 AM

    bazza
    Expert
    bazza
    Loc: uk,za
    Posts: 1393, Gallery
    Registered on: Apr 29, 2005
    Reply to: FutchM

    Re: SL depreciation

    what happen if i move to south africa and ship the car from uk ? do i have to pay tax?

    May 12, 2005 5:06:22 AM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    what happen if i move to south africa and ship the car from uk ? do i have to pay tax?



    yes bazza, but it would only be a fraction cheaper because you wouldn't have the dealers comission on top of it.

    fanch: yes i understand what you mean, but it does get frustrating oh well, it's not like i have a choice

    May 12, 2005 5:06:22 AM

    Mike S
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    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    what happen if i move to south africa and ship the car from uk ? do i have to pay tax?



    yes bazza, but it would only be a fraction cheaper because you wouldn't have the dealers comission on top of it.

    fanch: yes i understand what you mean, but it does get frustrating oh well, it's not like i have a choice

    May 12, 2005 11:16:42 AM

    bazza
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    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    i though that if i own the car for over 1 year and import to south africa i don have to pay tax?

    May 12, 2005 11:16:42 AM

    bazza
    Expert
    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    i though that if i own the car for over 1 year and import to south africa i don have to pay tax?

    May 12, 2005 12:20:42 PM

    RCA
    Rennteam Administrator
    RC
    Loc: Rennteam HQ , Germany
    Posts: 59589, Gallery
    Registered on: Mar 26, 2002
    Reply to: Mike S

    Re: SL depreciation

    I don't know about South Africa but over here in Germany, you can get brandnew SL55 with a very nice rebate and used ones with low mileage...well...cheap!!!
    Right now the market for sports cars isn't too good over here and Mercedes has lots of problems with car sales since they had some serious quality issues. Of course the economy over here in Germany doesn't go too well either, too many people are unemployed and too many people hold back with new car buying because they fear they might loose their job in the near future.
    Not much different with Porsche: you don't get too much rebate on a new car but look at the depreciation of the "old" 996 and Boxster models, incredible. I just saw an advertised 996 Turbo with around 40000 km only for under 70000 Euro. Incredible.

    This is why I actually tell people all the time: never buy a car looking at the resale value because you can end up with some very unpleasant surprises.
    I also prefer to lease such cars instead of buying them, it somehow takes a bit away of the depreciation risk, depending on the lease company and the contract.

    May 12, 2005 12:20:42 PM

    RCA
    Rennteam Administrator
    RC
    Loc: Rennteam HQ , Germany
    Posts: 59589, Gallery
    Registered on: Mar 26, 2002
    Reply to: Mike S

    Re: SL depreciation

    I don't know about South Africa but over here in Germany, you can get brandnew SL55 with a very nice rebate and used ones with low mileage...well...cheap!!!
    Right now the market for sports cars isn't too good over here and Mercedes has lots of problems with car sales since they had some serious quality issues. Of course the economy over here in Germany doesn't go too well either, too many people are unemployed and too many people hold back with new car buying because they fear they might loose their job in the near future.
    Not much different with Porsche: you don't get too much rebate on a new car but look at the depreciation of the "old" 996 and Boxster models, incredible. I just saw an advertised 996 Turbo with around 40000 km only for under 70000 Euro. Incredible.

    This is why I actually tell people all the time: never buy a car looking at the resale value because you can end up with some very unpleasant surprises.
    I also prefer to lease such cars instead of buying them, it somehow takes a bit away of the depreciation risk, depending on the lease company and the contract.

    May 12, 2005 12:29:49 PM

    bazza
    Expert
    bazza
    Loc: uk,za
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    Reply to: RCA

    Re: SL depreciation

    how about is 70k euro to pounds? cause a good secondhand 996 turbo cost about 65k pounds average from porsche offical dealer

    May 12, 2005 12:29:49 PM

    bazza
    Expert
    bazza
    Loc: uk,za
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    Reply to: RCA

    Re: SL depreciation

    how about is 70k euro to pounds? cause a good secondhand 996 turbo cost about 65k pounds average from porsche offical dealer

    May 12, 2005 1:10:51 PM

    N11KOY
    Junior
    N11KOY
    Loc: London(UK),Athens(GR) , Greece
    Posts: 149, Gallery
    Registered on: Jun 27, 2003
    Reply to: bazza

    Re: SL depreciation

    I ve got an 10/02 SL55 and asked for trade in last summer, when the car had 12500km and the price i got was somewhere in the 90000 Euro mark... And the car cost me 140000 Euro when i bought it new in Germany! How does this sound!!!!! I decided to keep it, but honestly i believe that this was the worst buy i have ever done! I will NEVER buy an MB car again in my life...

    May 12, 2005 1:10:51 PM

    N11KOY
    Junior
    N11KOY
    Loc: London(UK),Athens(GR) , Greece
    Posts: 149, Gallery
    Registered on: Jun 27, 2003
    Reply to: bazza

    Re: SL depreciation

    I ve got an 10/02 SL55 and asked for trade in last summer, when the car had 12500km and the price i got was somewhere in the 90000 Euro mark... And the car cost me 140000 Euro when i bought it new in Germany! How does this sound!!!!! I decided to keep it, but honestly i believe that this was the worst buy i have ever done! I will NEVER buy an MB car again in my life...

    May 12, 2005 2:02:25 PM

    Mike S
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    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    how about is 70k euro to pounds? cause a good secondhand 996 turbo cost about 65k pounds average from porsche offical dealer



    that is approx. $122140\70000 euro\50000 pounds. omg the resale values are shocking!?! i only never realised! i don't think i'll sell the SL anytime soon either, might as well keep it.

    @ bazza: yes even if it's second hand, so long as you bring anything in you have to pay the tax unfortunately :/

    May 12, 2005 2:02:25 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    how about is 70k euro to pounds? cause a good secondhand 996 turbo cost about 65k pounds average from porsche offical dealer



    that is approx. $122140\70000 euro\50000 pounds. omg the resale values are shocking!?! i only never realised! i don't think i'll sell the SL anytime soon either, might as well keep it.

    @ bazza: yes even if it's second hand, so long as you bring anything in you have to pay the tax unfortunately :/

    May 12, 2005 3:03:33 PM

    bazza
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    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    to mike s

    check this link http://www.southafricahouse.com/ce_mvrsac.htm

    anyway how is the crime in sa compare to 2 years before?
    use to be lot of car hijack or gun point

    May 12, 2005 3:03:33 PM

    bazza
    Expert
    bazza
    Loc: uk,za
    Posts: 1393, Gallery
    Registered on: Apr 29, 2005
    Reply to: Mike S

    Re: SL depreciation

    to mike s

    check this link http://www.southafricahouse.com/ce_mvrsac.htm

    anyway how is the crime in sa compare to 2 years before?
    use to be lot of car hijack or gun point

    May 12, 2005 3:13:49 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    to mike s

    check this link http://www.southafricahouse.com/ce_mvrsac.htm



    LOL bazaa, those people at the customs would take half a year to get all the paperwork done, i know all about it. too many stories i can tell you there... and you are not allowed to import left-hand drive cars, which is why the only enzo in SA has been sitting in the ferrari showroom for 2 years now(imagine if you were the unlucky owner) .

    but thanks, it was quite an interesting read. but reality is far from as simple and quick as it is stated there

    May 12, 2005 3:13:49 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    Quote:
    bazza said:
    to mike s

    check this link http://www.southafricahouse.com/ce_mvrsac.htm



    LOL bazaa, those people at the customs would take half a year to get all the paperwork done, i know all about it. too many stories i can tell you there... and you are not allowed to import left-hand drive cars, which is why the only enzo in SA has been sitting in the ferrari showroom for 2 years now(imagine if you were the unlucky owner) .

    but thanks, it was quite an interesting read. but reality is far from as simple and quick as it is stated there

    May 12, 2005 3:20:29 PM

    bazza
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    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    i know they r so damn slow , uk also the same , all govement department are so damn slow .cause they don have costomer service thing in their rules and they r so rude , anyway i used to live in pretoria!

    May 12, 2005 3:20:29 PM

    bazza
    Expert
    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    i know they r so damn slow , uk also the same , all govement department are so damn slow .cause they don have costomer service thing in their rules and they r so rude , anyway i used to live in pretoria!

    May 12, 2005 3:24:26 PM

    Mike S
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    Mike S
    Loc: Somewhere , Taiwan
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    Reply to: bazza

    Re: SL depreciation

    SERIOUS BAZAA?! I still live in Pretoria!! The crime is worse than ever, so far I know of 4 family relatives that have been armed at gunpoint in their own home, including myself 2 months ago

    May 12, 2005 3:24:26 PM

    Mike S
    Rennteam VIP
    Mike S
    Loc: Somewhere , Taiwan
    Posts: 7720, Gallery
    Registered on: Apr 3, 2005
    Reply to: bazza

    Re: SL depreciation

    SERIOUS BAZAA?! I still live in Pretoria!! The crime is worse than ever, so far I know of 4 family relatives that have been armed at gunpoint in their own home, including myself 2 months ago

    May 12, 2005 3:26:28 PM

    bazza
    Expert
    bazza
    Loc: uk,za
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    Reply to: Mike S

    Re: SL depreciation

    hey do u have an noble m400?
     
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