LiC300

your logic is horrible, you make no sense, how is working make a person a leech, a leech is something that attaches to a host and use it to live, not work for it ...

I am guessing your not that bright, so I am gonna tell you basic car knowledge, if your annual Salary is less than the car's price than you cannot afford it ....

hutch300

CNN Money had this article a while back about how this guy leveraged some money to get a loan for more then lost it all in the market. He realized driving the fancy car and pretending to be rich didn't make him rich. He found living a life he could afford made him happier driving a Camry and living in a modest place because at the end of the day, he could sleep worry free. The whole point is richness can be defined in different ways...

chokaay

For a change of pace... to OP, I didn't finance a C300, but I did recently finance a 2009 E350 (for a price comparible to a 2009 C350) and this is what I THINK your monthly bills will be (but won't be 100% accurate since many fees & taxes depend on your location, where you buy your car from, etc):


MANDATORY:

Estimated C300 Finance Rate ~ $635.55/mo including taxes & fees (based on my monthly rate of $735.55/mo after $5K down payment and 1.9% APR for 66 months... your C300 may cost less money, but APR may be higher now and you may opt for a shorter term). If you plan to make a down payment, you need to figure that into your first month's calculations and alter this figure accordingly.

Car Insurance Premiums ~ $180/mo including tax (since you're a younger driver than I am with much less experience in a brand new sportier car... depending on your driving record).

License & Registration ~ $45/mo including taxes and fees (for CA annual license & registration fees divided by 12 months)

Annual Service ~ $24/mo including taxes and fees (averaging Service A + B's cost and dividing by 24 months).

Maintainence Items ~ $87/mo including taxes (budgeting for wear and tear items NOT covered under Service A or B... like tires & brakes & rotors after 2 years, bulbs, fluids, wiper replacement, etc).


OPTIONAL:

Car Washes & Detailing ~ $15/mo (assuming you either go to one of those "crappy" hand-wash places where they WILL put swirl marks in your car, or go to a better place less often, or buy decent supplies to do-it-yourself... but of course the REALLY good places cost significantly more).

MBrace Service ~ $24/mo (assuming you want to subscribe).

Sirius Satellite Radio ~ $15/mo (assuming you want to subscribe).

Sirius Traffic Link ~ $4/mo (assuming you want to subscribe).




Now you can decide for yourself whether you can afford to finance a $30,000 C300 or not. Just remember, as this car gets older (as with any vehicle) Services Costs and Maintainence Costs will increase while License & Registration Costs will decrease. Your Insurance Premiums will also decrease with time (although very slowly).

boylston

I'm sure that there are a lot of people driving SLs and S550s that sacrifice other things in order to have a fine car. And maybe Charlie's parents are loaded. My advice is to shop for a good certified preowned, take advantage of the 1.99% financing, and commit to keep the car for at least five years. He should be able to find an '08 for 26K, which isn't any more than a new Camry or Accord. Then by all means take good care of it.

TB5...

do you have a line of credit? mortgage on your house? credit card? a loan?
don't you rely on a banks money to live?
what work did you do for that credit?
returned your books on time to the library
payed your bills on time... followed some rules...
haha please.

like i said unless you are self sufficient...

don't for a second think you are better than a kid who lives off his parents... you're a leech in this world like pretty much everyone else in the system...

pathetic responses... and i don't mean the content... i mean the horrid attitudes of those who have... towards those trying to make it happen.

C300Sport

You really do sound like an idiot.

This young man started a post asking for financial/automotive advice as to whether or not he should purchase a vehicle. Given the information available, he received, what was for the most part constructive respones. I admit some were a little harsh or flippant but were generally given from experience and just good logic; not from poor attitudes.
Your logic regarding people being leeches simply because they utilize a system of credit and bartering is totally asinine.
I think it is obvious that you are the one with the poor attitude because most of us have not subscribed or advised the live large now, pay later approach to life.
Grow up...

TaxEsq

As much as I hate to comment about spelling, but when you decide to go on a rant it's always good not to seem pathetic. Just so you are aware, the past tense of “pay” is “paid” except in the special sense that has to do with ropes: “He payed out the line to the dock worker."

Now, let's not talk about what's pathetic...

lkevinl

+1

S4RIN

You have to ask yourself, why you are making this purchase? Write down your reasons. If at least 80% of your reasons are logical, then go for it.

My take:

$600.00 a week after taxes or before taxes?

To comfortably afford the C300 car you want, you should at least have an income of $32,000 to 35,000.00 a year after taxes. This is providing you continue living at home and do not have any outstanding debts (eg. school, loans etc). Just make sure to limit other major purchases, so your books are balanced each month. The moment you move out and take on a mortgage or pay rent, you will need to bump up your annual income to compensate for the new expenses.

I also think your parents are right in saying that you should buy a car you like now, providing it is within reason and you can afford it (dont be getting an ideas of 100k S Class's! on $600.00 a week. A C300 is reasonable). Later in life your situation may be different. For example, you may get married and have children. Your wedding will probably cost 30-50k, your kids will cost an arm and a leg until they actually finish post-secondary and move out (thats about a good 20-25 years). Unless you make large amounts of coin every year (100k+), then with a wife, kids, mortgage etc a mercedes is highly unlikely. Even on lease, some people keep it for a year and then default on payments.

In short: If you plan to live at home for the next 3 years or more (which is good b/c you'll save large amounts of funds avoiding rent/mortgage/utilities) making $600.00+ a week after taxes, then get the C300 on lease for 24 months-36 months. Most people get bored of their rides within 2 years. Drive it, have fun! In 2-3 years time you'll be in a different position and depending on your circumstances will have to act accordingly.

OneOfaKindTrini

This thread hands down has been one of the most contraversal thread and thread with the most mixed views since I can't even remember.

charlie0882004

i didnt know this thrad was still alive. i have no student loans. i have no bills but my car insurance right now and my phone bill. i owe no one right now. but i make 600 after taxxes. i was thinking about looking at a used 2008 with 30,000+ miles they run about $24,000 talk him down to $20,000 then sell my call for 8,000 save 2,000 then put down $10,000 so all i would have left is 10,000 to finance

LiC300

I did a auto trader search country wide there are 3 cars with 30000 or less for 24000, n no car dealer is gonna let u take down 4000 off a car's price brand new maybe, used hell no 2 grand 3 at the most....

lets not forget interest, n taxes....

before you buy and are stuck with something that you cannot afford, asses the situation from all sides, if u lose your job is the payment low enough to be paid on unemployment or so.... is your current car worth 8grand...

good luck with it all, don't purchase something your not ready for... car looks fade but payment don't ..

coolvi

Get it.

Life is short or what not isn't even the point, though.

20-30% of your monthly income on a car is more than manageable. Other's failed stories are to be taken as precautions and consider this a good test for your ability to manage your own wealth. You will learn so much like some of us have and I'm sure the educational aspect of it alone will be invaluable later on in your life.

ShaunPatrick

I am 25 and work part time, while I'm earning an MBA. While common sense and practicality suggest I drive something far less expensive, I love cars and have wanted a Mercedes since I first heard the word. I don't drive it to impress others, I drive it because I like it and work hard for it. I will graduate in May, then hopefully be in a much better financial situation, but I have already owned the car for two years and have had no problems with the payments or other associated expenses. For me, the car is a form of therapy. When I get stressed, frustrated or feel unmotivated, one drive will actually put me in a better mood. How important is having the car to YOU? Personally I love it and if I could go back two years, I wouldn't change a thing.

Strfry

I just finished reading this whole thread. Epic. You still paying attention Charlie, lol? Do what you can/want and live your life...just don't drink the Koolaid.

Mantooth

If you have to ask, you can't afford it.

The last thing you need right now is a car note...

K-A

All sound advice here, so I won't rehash all of the same stuff. Although, I will say, I'm the last person who should be telling anyone that "putting your money *anywhere* is better than buying/putting it in a car" .

If you're doing this for some "status" crap (to get girls, or fulfill some chip on your shoulder, etc.), then save your money, as it is a C-Class after all. Although it is a beautiful car, and wears a badge of high cache, you'll find yourself sweating to make payments on a "Baby Benz"/entry-level edition, and soon be thinking how you can jump to catch the guy in a more upmarket car (being into cars for status is an endless and futile rat race, usually). This can go for any car btw, if you're in an E-Class/5-Series, your status-race will adjust accordingly, even in a 7-Series/S-Class, etc.

If you love the car as an enthusiast, and appreciate it for all that it is, and just NEED to have it, then I'd advise to maybe get the next best thing. Maybe a W203? Perhaps if the W203 AMG's are affordable enough, that might even please you more. IMO, the W203's look equally as nice as the W204's, and have a more elegant interior.

Some of us indeed are Car Enthusiasts, and it is a drug that forces us to make irrational decisions sometimes.... However, it is what makes us happy, and a lot of what we work for. Find that fine line. Being comfortable, saving responsibly, yet fulfilling your Enthusiasts itch.

kirillbenz22

jesus i read a couple of these and stoped after reading 6 posts you guys are nuts, listen kid get the car dont worry about anything I was in the sames position you are in right now 2 years ago and I leased an Audi A4 2009 S-line manual I was fine and i worked more got a raise and i went to the benz dealer and SOLD the lease after just one year and leased a Benz, kids parents are right! And most of you on this forms are way over 35 40 I dont want to drive a c 300 or 350 at that age I would want a better car by that time, if that even happens with kids in the way! So get the car now becuase tomorrow may not come if you catch my drift, you never know how long you have left in this world or what to come in a couple of years so LIVE THE LIFE NOW!

4maticbenz

I would just buy it, go for it dude. Worry about saving later, you only live once, who knows, you could get run over by a bus tomorrow and never had the chance to buy a new car. Save some, but buy it if you want it. It feels good to have a new ride at 22. BUY IT !!!!

hutch300

Your post just made me feel bad for you. Not only do you put down a large part of this crowd you use for entertainment/information based on their age but you demonstrated you are fiscally irresponsible.

All I can say is I hope you are successful and don't have to live a check to check life where its hard to sleep at night.

Just because people can buy something doesn't mean they should.

Sportstick

I think I found the problem.....read the third paragraph:

http://bbbgeorgia.net/brainTimeAdolescence.php

The good news is that one can grow out of it.....in time for the next gen to start their own mocking.

hutch300

HAHAHA!!!!

Funny thing is I too am young and I can't believe the ignorance!

I guess everyone matures differently.

LiC300

people who live beyond their means are the reason we are in a recession, this democratic live now worry later attitude isn't helping either.

I am Jeff

+1

I am Jeff

++1