Last year, the used car market was on fire. People ended up paying a lot more for vehicles that had been driven around for quite some time. But with a slowing economy on the horizon and a couple of interesting production and pricing policy updates coming from manufacturers, circumstances are poised to change. And they have! G-Wagen owners are feeling it the most. Here’s why.
There is no denying that the Mercedes-Benz G-Class is a highly desirable off-roader. It looks good, has a great interior, is packed with useful tech, comes as new with two potent powertrains, and there are a couple of possible fiscal advantages that can be enabled for this specific vehicle. Add the fact that many celebrities drove or still drive one, and the fascination is there. You may truly want one, and that’s understandable.
However, looking at the current MSRP of $139,900 for the cheapest new G-Wagen available in the U.S. can be a little disheartening for many people. That is especially true if you plan on making the SUV your own through the personalization program. It offers a plethora of packages and individual options which can cost a pretty penny. But if you want to start from scratch with the AMG G 63 that comes with the handcrafted 4.0-liter V8 and not the detuned version, then be ready to add at least $39,900 more.
Seeing such generous numbers may turn you away from considering a brand-new G-Class. Now, onto the used car market! Here you may find something you like for a much better price. However, we know from last year’s developments that caution is required. Some sellers may try to ask for more than their car is worth, pointing at the manufacturer’s inability to build more units and send them to dealers across the country.
Unfortunately for current G-Wagen owners, the trend is not their friend anymore. The data coming from a platform that tracks the used car market shows that prices are slowly yet surely coming down. Used Mercedes-Benz vehicles are currently on a downward slope and register a 5% change in the last three months. This remains true even on the 30-day scale, which shows a 2% decrease. On average, a used car wearing the star-shaped badge is now $6,065 cheaper than the peak recorded in April 2022.
However, the best discounts are given by the G-Class owners who may want another vehicle or they might have discovered that a six-cylinder with better fuel efficiency can help with lowering monthly running costs. CoPilot says the price change from the peak registered last year currently sits at an average of $52,600. Your used G-Wagen just got a lot cheaper, and it may trigger a return to normal. Only the Mercedes-Benz SLR McLaren fares worse with its $73,800 reduction. The podium of the most price-dropped Mercedes-Benz vehicles is completed by the all-electric EQS for which owners are asking on average $38,700 less.
The same source also puts things better into perspective by placing the G-Class in the top spot when it comes to used car market price changes in the luxury SUV segment. The rugged Merc is followed by models like the Jeep Grand Wagoneer, the Toyota Land Cruiser, and the BMW X7. However, the Merc keeps its crown and helps us all understand again that not all luxury or high-performance vehicles are stores of value. Some will cost a lot less after a couple of years and that’s normal.
But we shouldn’t put our trust in only one or two data sets coming from a single source. Looking at an auctioning platform like Bring a Trailer, we can see that G-Wagens are selling for high prices, but they are not as expensive as last year. The low-mileage units and the G 63 models have kept their value quite well, but most relatively new G-Class examples are now selling for under $190,000 or even lower.
Moreover, people are not that interested in special editions. For example, a refurbished 1994 Puch 230GE and a 2014 G 63 AMG 6×6 Brabus B63S-700 did not find a buyer. However, neither did a 2021 Mercedes-AMG G 63 with 11,000 mi (17,703 km) on the clock. Another fully loaded G 63 with only 208 mi (335 km) on the odometer recently shared the same fate.
So, if you truly want a Mercedes-Benz G-Wagen and are willing to find the right spec on the used car market, now might be the time to start the search. Prices are coming down, and you may score a good deal. Who knows, maybe even dealerships will start to adjust their prices accordingly and not try to sell their lot vehicles on online auctioning platforms to score an extra buck!