When I say worth it, I mean 3 things.
How much do you think it will lose in value in 2-3 years?
what will the maintenance look like on this Model?
Never bought used Mercedes before, how does the bumper to bumper warranty work and can I extend it for money?
Tough to say, but I’d start by checking Edmunds for the last month the 2020s had a lease program, take the residual, that gets you to what it should be worth at disposition.
Unless you are selling it yourself to someone, “lost value” is probably not Retail price, but somewhere in the Black Book / Trade-in value.
I did a quick look nationwide at 2016-2018 GLS 450s:
I haven’t normalized for MSRP or equipment, just a rough look in a crazy market.
Yeah, about that. I haven’t ever committed to MB beyond a test drive, others have shared their own experiences here with maintenance (from “bare minimum at MB” to trustedindependent shops etc — search or maybe they will share here too). But by the book, and to estimate costs since maintenance isn’t included:
https://repairpal.com/estimator/mercedes-benz/gls450/maintenance-schedule
Thank you so much for the information friend. Much love.
Absolutely. Good luck, keep doing your research and asking questions.
Personally, I would not buy it right now. Once this used car market corrects (and it will, it’s just a matter of when), you could be in some serious underwater shit.
I mean, if you plan on driving it for the next 10 years, it won’t matter. If you plan on trading out of it in 3, you could be hurting.
Everyone buying high-priced luxury German cars in 2021 are going to be in for a rude awakening when they try to trade in or sell in two to four years.
My plan is to drive it for 2-3 years then when market corrects lease gle 53 coupe or buy a new/used one. I’m looking at few different cars and brands and I keep coming back to Mercedes. I understand I need to pay a premium compared to other luxury brands so that is not a problem as I have made peace with my self on that front.
You are right that buying anything in this market will have bigger losses when market corrects then normal, the question is not really if or when but just trying to gage by how much.
So I guess my question would be how much did 1 year old low milage GLS 450 go for before, is 70k 5k more then before? 10k more then before?
I do agree with you in there being a big crash in 4 years, but I don’t see market correcting that much in 2 years. I have made peace with losing few thousand, but I’m young and I honestly don’t care no more. Something I have learned from computer market is you buy what you need when you need it and don’t look back. I just want a nice luxury car that looks good and is comfortable for long trips on shity roads. My only issue is I’m going to spend this much money anyway why not get the biggest bang for my buck in current market as I need a new car now. So that why I ask all question so I can gain valuable information from all the wise folks of lease hacker.
That’s the thing…you could be in the 10k range, which is more than “a few.” I get that you’re young and you want something flashy…unless you can afford to lose 10k or more as a possibility, think long and hard about flashy now. You still have the rest of your life ahead of you, and you don’t want to get into a big financial headache if you can avoid it. I don’t know your income, but it could cripple you for years to come.
I guarantee you that the biggest bang for your buck is not a 1 year old GLS
If you don’t need 7 seats why get a GLS
Almost 2 years old TBH
There are a lot of luxury cars that meet this requirement that are not this behemoth.
There’s obviously no swaying you, I guess you came here for vindication, but you have talked yourself into it already.
You are going to lose 15k to 20k more than usual on this car. 70k is already an inflated price for this so the depreciation curve is going to be significantly steeper during the same time period if there weren’t mass vehicle production shortages due to limited silicone production and a global pandemic.
You are clearly undervaluing the effects of current market conditions to make this purchase make sense in your mind. The “I’m young and can afford to lose some” mentality is familiar to me, I’ve had it for years. I get it. Just know, it’ll always be worse than you expected because you’re applying your bias and your bias is that you want the car.
Market applies to both leasing and purchasing if he wants a GLS…
Are you saying he is going to lose 15-20K more compared to leasing? If so, I disagree due to the fact that leasing will be based on MSRP+ in current market conditions.
When you lease, you are only dealing with the depreciation half of the markup, and your liability is limited. Overpaying now is a given, why get stuck holding the entire bag?
I am saying he’s going to lose 15k to 20k more on a purchase in this market than if he’d be purchasing the same vehicle otherwise in a normalized market with the same conditions. So if normal depreciation on this vehicle would be 15k over 2 years, then I imagine it’s closer to 30k.
Wouldn’t be surprised if this vehicle in 2022/2023 was wholesaling for 35k/40k.
What I was trying to say was that the total cost to own is what matters. If he is out 35K in leasing vs purchasing at the end, there is little difference. Otherwise I agree with you guys.
The discussion is about buying a used model. They did not mention interest in looking to lease or compare to a lease.
The lease might be cheaper, to be honest. At least he wouldn’t have to worry about taking a 20k bath in a couple years time and can just give the car back.
I don’t think it will cripple me as it will simply lighten my tax load, Its less about flashy and more about what I want for my self at this point in my life. I have set my self a range of money I’m willing to spend on a car per month and just trying to find best car right now in that range that has better resale value compared to the cars in its own price range and class, not compared to a car like corolla or something. For example for a car this size I would 100% go for a Cadillac Escalade, but from the little research I did on Carguru I found them dropping harder then the GLS. I will one day get the Escalade, but that will be when I’m 20-30years older. I’m not 100% sure on the GLS either, as my research hasn’t ended and I’m still holding out hope ill find a way to make a GLE 53 coupe work, but if that doesn’t then used GLS will do fine for an in-between car for the next 2-3 years.
I do appreciate your view point though.