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QA: 2001 Mercedes-Benz SL500 Value Question
By Greg Magnus | September 9, 2009
Al Erhart Asks:
I have a 2001 SL500 with the Panoramic Roof. It has been maintained to Mercedes standards. It has 62,000 miles with new tires. It has 38,000 miles left on a comprehensive policy for any mechanical problems. What is the value. It is silver with AMG sports package. Thanks, Al Erhart
John Olson Replies:
It is ‘criminal’ how fast all new cars depreciate! The late, profound, economist Peter Drucker once observed that used cars are the most effective form of egalitarianism in the western world… with so much of a car’s value passed on to 2nd and 3rd owners at depreciated prices. State-of-art technology is very dear indeed. With only 7,750 miles per year your car has many decades of life left in it. Its base price was $83,800 in 2001. This Fall, even with AMG options, you will be lucky to get $18,600.
The SL Market Letter advocates buying cars like yours, not selling them. Consider treating as a family treasure for the next 100 years, and treating it accordingly. They don’t break much, they’re among the safest “old” cars on the road, and its annual maintenance cost would be small fraction of the annual depreciation if you replace it with a new car of ANY brand. Think about it.
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