Thomas
Anderson,#2Consumer Comment
Mon, July 02, 2007
then look up your car, but READ CAREFULLY. There are (high and low) mileage adjustments based on class (Mercedes is class 5- the most expensive) as well as equipment adjustments where you must check what equipment is included in the standard valuations. This will be the USUAL equipment found on used cars, not the standard equipment. Any missing equipment is a deduction if so listed and additional equipment is an addition if so listed. Note that in some states an insurance company must only pay you the 'trade-in' or 'loan value' for a total-loss vehicle, while in other states you are entitled to receive the 'retail price'. Contact your MVD. Also note that your friendly Mercedes dealer may, if they wish, ask for many thousands ABOVE the NADA Retail Price. And usually they WILL wish to ask for many thousands ABOVE the NADA Retail Price. This gives the dealer room to negoiate with a buyer and maybe that buyer will 'steal' that used car- by paying full NADA Retail! Also the buyer can get killed on his trade-in allowance if he does not realize the used car asking price is padded w/r/t NADA. You are (now) discussing an (almost) 8 year-old car which likely is worth less than 20% of the value of a new Mercedes C230 ($30,000 list?).