charlie0882004

i make $600 a week and i dont have to pay rent because i live with my parents. i dont have any bills besides my $100 iphone bill. can i afford to finance a $30,000 c300 and insure it and still be able to save $1000? also how much would the warntty cost me? and will i have to be always buying parts to fix it? because i know im always buying a part for my accord right now

BlackjackM

How old are you? I personally think that finding your own place to live should take precedent over purchasing a Mercedes-Benz. Be patient, and wait until you have your more important purchases made.

tc1728

If you have to ask if you can afford something, you should not buy it. When you know you can afford something, then get it. TC

KA8

C300 isn't even a special car anyway. Not worth it imo. BUT it's your money do what you want.

charlie0882004

im 22. im not ready right now for marriage or kids. my parents tell me to get the car of my dreams now because when i start living on my own its going to be different. i would like to get my own place in 2 yrs. by then i figure i can get the payments a little lower thats why i need you guys help. you know what its like to drive fix and modify this car

KA8

If you get it, I guarantee you're going to regret getting it in 3 months. Gotta have bigger dream than that lol. Also not a smart financial decision to have $20K+ in car loans at such young age. BUT like I said before if you can live with the payments why not? It's your money.

e1000

None of us here can tell you what you should or shouldn't do with your money but...

You're 22, live at home, make $600/week ($2,400/mo) during the worst recession in recent history. I don't know how much you have in savings, or what your future goals are in the short and mid-term. Personally, I would be saving up to move out, not get a new car.

charlie0882004

how much do you guys ake a week? because i dont see how people do it then. because alot off peole drive nice mercedes on here and im sure have there own place

TaxEsq

take advantage of living at home and save all you can my friend.

LiC300

dude, 600 a week isn't gonna cut it, monthly payments, insurance, parts, gas ( premium 91 or higher ). save your money for a house and buy the Benz when your thirty.

No one is gonna tell u how much they make, its not polite to ask.

I make around 65 Grand a year and barley can afford, the car my rent and bills, me personally I bought the Benz as a present to myself for all my hard work ( graduated with a bachelors Degree in 3 years ) and I am going for my masters and I work as a IT Administrator.

go for something cheaper you'll be thankful you did.

make sure you have job security in this economic time, and then get a home thats yours and then worry about the Benz.

but then again I cant tell you how to spend your money.

good luck with your decision.

amdeutsch

You are the perfect candidate for a lease. NOT. A wannabe who wants to mod. Please STFF and talk to someone in finance. Your dreams and you wallet are not in sink. I believe you to be an example of the entitlement class most of today's youth fall into.

$0.02

phatboypimp

BANDWAGON!!!!!! At 22 if you can't pay cash you shouldn't buy it. Dump that money away in a set of investments and save it for when you want to buy a house. You will thank us all later. I lived at home at 22 and paid off all my school loans/credit cards and saved $30K two years later I was buying my first house. Your parents are giving you poor advice IMO.

NorseWagon

Yeah son, stay with the Accord or down-grade to a used Civic.

A new C-300 would be the most stupid thing you could ever do, including knocking up your GF.

If ya want to go fast, get a used Mustang if you can afford the insurance.
Spend the money you save on education of some kind, or smart investment or something that makes sense.

A Mercedes is fun and feels good when you can afford it, but wait until then.

Delayed gratification, try it and you may like. (seriously)

I could afford to buy a brand new AMG SL something today if it was a matter of meeting the monthly payments, but I won't be a slave of a pay-check forever and the thrill of cruising in cool wheels wears off a lot faster than the monthly payments..

Stay with the Civic and be smart in the long run...

Joearch

Look at the new Ford Fiesta

charlie0882004

thanks guys

C300Sport

I would think the opposite from your parents line of thinking; work hard, save your money and point your life in a direction to become successful doing something you love...then go out and buy exactly what you want.
I put in many years of concurrent full time work and full time school, driving crappy cars(tinkering with them to try to make them a little nicer), working hard to get to a place where I could buy an MB without worrying about having a payment or whether or not I could afford a pyment. A nice car is not going to improve your life as much as saving your money and figuring out what you want out of life.

lkevinl

Hi, kid. I have to respectfully disagree with your parents. How about this scenario:

Buy a decent, affordable used car (accord or civic should fit the bill). Save like a madman. Build your credit. Find a nice girl who loves you regardless of the car you drive. Before long, you'll have it all and you'll be asking yourself which model E-class to get and whether or not you should park it in the garage or driveway of your new home.

If you buy the Benz now, you won't be saving, you may get a girl who likes you until the next model year comes out and you'll regret not having saved for the things that are really important in life.

Just my 2 cents... no interest!

supernsx

Why not? btw, if I am 22 again, I will most likely buy an used BMW 335i coupe.

werewolf34

Lots of 'tude in the advice given but it is still good advice

Another rule of thumb. Your car price should be no more than 30% of your annual gross income. You make roughly 30k. Look for a 10k car

AMGfan

+1...in a couple of years you'll want another car and end up upside down. A used accord is great and reliable car. Save your money and protect your credit...compound interest is a good thing and the sooner you start the better...I wish I took my own advice when I was 22.

Good luck!

jctevere

Take it from me, I am currently 19 turning 20. At 17 I leased the brand new G37S Coupe and paid over $17,000 over a 24 month period for the lease. At the end of the lease I decided to lease the c300 and I am going to pay $20,000 over a 39 month period for the lease. I too live with my parents and only have cellphone bill plus any related expenses (gas, food, etc). Fortunately I don't have to pay for insurance (a huge expense saved, especially considering my age).

Anyway, I regret doing that, and if I could turn back time I would have bought a nice luxury used car (nothing crazy high on miles, around 50k to keep cost down, but still have longevity and reliability).

I too make about $600 a week cash, and I find it "taxing" to pay for the car, and I don't even have to pay for insurance. Find a used car at or around $20,000 if you want a luxury car. I was looking into Audi A6 2005 (body style is same as 2009) and it has 55k miles and it is only $19,000 absolutely fully loaded. Or you can just buy a perfectly good new car (honda civic, accord, hyundai sonata are nice).

But in the end, its your decision, I hate to be that guy who says your too young and don't do it, especially because I am younger than you and are being hypocritical by doing the opposite of what I suggest. But I guess I am hoping that you will learn from my mistakes.

A couple of questions I missed to answer that I discovered by reading back, the warranty comes with the purchase of the new vehicle, I believe its like 5 year 50k miles or something like that, whichever comes first. But one thing about Mercedes is that the maintenance is not included like it is with BMW, and it can be very expensive.

On the c300 for example, every 10,000 miles service is needed (oil change, etc). First is Service A, than at 20k, service B, and 30k Service A again and the cycle repeats. The thing is, at least where I live, Service A runs around $300, and Service B runs about 500... It's crazy. Just some expenses that you don't always realize.

Like I said, if you want a car that gets looks and "wow, that's your car" buy a used luxury car, BMW, Mercedes, Audi, etc... But if you want to position yourself better for later in life, buy cheaper budget new car that will be able to last you about 8-10 years. Especially if you have to pay off college loans or want to move out soon. Bottom line is, if you buy a cheaper car, you will always be prepared for the future, god forbid you lose your job, it will be easier to afford it. And in the future you get a great job that pays well, you can always sell it and upgrade to the car of your dreams.

I am sorry for the rant, but I hope I was of some assistance.

MagicDragon

The cheapest C300 I believe is something like $33,000. Add tax and license and you're at $36,500. Assuming you somehow quality for a loan, with no down, you're looking at $650/mo. at 2.99% APR. $50/wk for gas, and $1,200/yr for insurance for your age. The minimum total cost of ownership per month would be $950. That's MINIMUM.

Personally, if I were you I would not buy one. Instead, I would get a beat up car for $500 and try to fix it. You will not only save money but learn how stuff is put together and acquire skills to fix.

I would take advantage of no rent and invest $950/mo. for 5 years... after 5 years is up you will be able to buy a 2016 C Class without financing. You will probably end up with extra cash from investment and have a real job too by then

clkcadet

If you don't mind pre owned that could be an option. I'm 26 and went from a beat up Chrysler when I first started driving, to a clk320, to a Audi a4 and finally to the c300 I have now. I always leased but expenses change over the years so you want to make sure you are covered down the road.

C300Kid

I'm gonna go against the grain here..I say get it.

Most 22 year olds I know blow 80% of their income at bars/clubs or on their girlfriends, if you wanna spend it on a car go for it. Do you have some $$ to put down? I'd try to save up half rather than financing it all. I have no idea what insurance is on the car but I know it's not overly expensive, and obviously you wont have to spend money fixing the car since it would be brand new and under warranty.

Anyway..chances are you'll make a lot more than $600/week after you graduate and start a career, then you can worry about moving out.

PS..my parents bought my brother and I a house last year and I barely live there. I'd rather live with my parents. Don't rush to move out.

BenTrovato

When I was 19, I had more money than 100% of my friends/family and lost it all being foolish with the cash. It was the best lesson I've ever learned and would not be where I am today without having lost it all at such a young age.

So remember, no matter what you decide to do, it's exactly the experience you need right now. There's no need to give your power away to others by asking for advice. Sure, some may feel it "wiser" to purchase a home, or make investments, but that is always advice through another persons life experiences which can never be translated to your life experience.

Do what you feel is right, and that is all you need to do, knowing it will always work out for you.