Aimbit

I'm considering picking up a C-300 from the dealership this coming week... but i've never bought a car and I don't want to get run over by a salesmen.

1. Why Certified pre-owned over clean car-fax (and brought to a mechanic for inspection) used?

2. Is it worth the extra to get CPO?

3. Once the price of the car is determined, is that it? What else is added on.... tax/title? Do some dealerships charge a 'dealership fee'? What should I be looking out for here?

4. This particular dealer offers 12m/unlimited mile warranty for CPO cars, with the option for an extra 1-2 years. Is it worth getting, not sure what the price is though, but just in general is it worth it? (car is a 2014 with 23k or so miles)

5. I'm sure there's lot of things I am not thinking of... what else should I be aware of when buying a car? What should I watch out for, etc...

Thanks

dieseldoc

CPO will give you additional year of warranty on top of the remaining factory warranty. You may also extend the warranty on top of that. Price for a CPO car tends to be higher than non CPO car. clan car faxes don't always mean clean car. If you plan on keeping the car for a significant period of time, I would not drive a Mercedes without an extended Warranty. You will pay tax and title on the car. There should be no dealer fees. Are you trading in a car. If you are, sales tax will be on the difference. What is the model, how is it equipped and what is the asking price. Many of us on this forum can give you good info.

Aimbit

its a 2014 C-300 Sport, 20,005 miles, they are asking $25,155 CPO. Heres the link, http://www.rallyemotors.com/inventor...gf8ab9er315058

i'm sure this is very car specific but, what should i expect an extended warranty to cost? Rather, what would you be willing to pay for one? (eg 10% of the cars cost)

edit: just did a preview of an extended insurance package... 4 years/up to 50k miles on the odometer, came to about $2400 I think... roughly 10%. I'll have to shop around a bit so I know decent prices.

superangrypenguin

Wow, in Canada CPO is another 2 years of warranty. I've never seen it as a one year.

Anyways, this sort of question is really personal. It comes down to risk tolerance levels. When I buy a car, I always max out the warranty. In my case, I'm covered for 7 years (6 years bumper to bumper and last year for powertrain). Will I keep the car for that long? I dunno, but I don't like walking into a stealership with an issue with my car and wondering how much they will rape me for it.

As far as CPO or not, I have, in the past, only bought CPO and would never do it any other way.

Aimbit

Why do you only get CPO?

superangrypenguin

For the warranty and the ability to buy additional warranty, all backed by Mercedes Benz.

Because I value peace of mind. I'm willing to pay a premium for it as there's too much other crap in my life I have to worry about

Just204

I agree, also, make sure you get a good interest rate if you finance and be sure they give you gap insurance, that goes through the dealer and not car insurance.

Aimbit

Gap insurance?

Just204

Gap insurance basically protects you if the car is in an accident and totaled and you still have a balance left on paying off the car. This is put in the contract papers you sign. Gap insurance basically means if that happens you are not responsible for the rest of the balance and if you don't have it then the dealer can go after you to pay off the rest of the car. It's a must have in my opinion. also finance rates are negotiable to an extent and shop around for the best rates, you don't have to use just the dealer and what they give you.

Aimbit

ok thanks. i'll have to bring a list of things lol

timlippold

I like CPOs as they tend to be off lease and well cared for. I would pass on the extended warranty over what the CPO offers. You often pay a deductible and the coverage is limited. My 2008 C300 just hit 100,000 miles and I did not take an extended warranty. A few issues here and there but mainly maintenance costs.

Expect to pay dealer fees such as doc fees. Some may try to charge a prep fee. You can ask for them to be waived or reduced. You will also pay tax, title and registration.

Consider paying cash for the car or if you take out a loan keep the term to 3 years or less. No sense paying interest on a depreciating asset and risk being under water.

Good luck!

Aimbit

Thanks for the advice. Yes I have heard try to keep car loans at 3 years, especially used. I think I am going to take a 5 year loan, however, but overpay every month.. just in the event something comes up and I need extra cash I can just reduce the payment for a month or so. However, realistically I plan on paying it off over 2-3 years.

superangrypenguin

I have heard of this but this is generally not the case (in my neck of the woods) for used cars.

This sort of insurance only exists for new cars whereby if the car gets written off within the first 5 years, you get the price you paid for the car when new, or you get a new model with similar features that you paid for.

I haven't heard of the term you're using before. I'd advise the OP to check with their insurance company.

dieseldoc

I would definitely not lease a three year old (soon to be 4 model years) car especially a c class. These cars have high depreciation. I would buy it. you can get a 5 year note and have a decent payment and then pay it down by making extra payments. You should not overpay payments on a lease. A lease is like renting an apartment, at the end, you have a residual or you give the car back. The residual will have to be paid to keep the car. You will overpay with a lease in the long run if you want to keep the car. as far as GAP insurance, some lenders will offer it. For example if you have State Farm insurance and use State Farm bank for your loan they automatically give you gap insurance with the loan.

Aimbit

sorry i meant take a 5 year loan, not lease

dieseldoc

Are you trading in your current car?

Aimbit

I am getting a quote from a 'we buy your car' place first. I drive a 2005 Altima that needs repairs so it ain't worth much. One dealer I spoke to said its basically worth scrap metal. Carfax isn't clean, minor hail damage still visible, needs timing chain guide/piston replaced, AC doesn't work, 3 coils need to be changed....

i could probably get it repaired for $1500? But i think the car isn't even worth that.

Just204

I think there's some me misunderstanding on this and I guess I have to explain it more but I'll try to keep it simple. Gap insurance is through the selling party of the vehicle, this is not with your insurance. Say you total the vehicle and say they state it's worth 18k but you owe 23k which is a negative difference. Insurance gives the dealer the 18k, and then the gap insurance takes care of the difference so you don't have to pay the dealer the remaining 5k. That's the purpose of it. I can't speak of other countries tho outside the USA.

Aimbit

Ah ok. Well I am in the US and that makes more sense since its called 'gap'

dieseldoc

Actually, GAP insurance pays the lender not the dealership. On a car loan, the holder of the title is the bank or finance company. if you total your car and are upside down you owe the lender not the dealer. The dealer got the entire price of the car when you signed the papers. The dealer did not finance your car. A bank did. gap will pay the lender in order to pay loan off.

Just204

I know that but was trying to keep it simple for example sake by not bringing in more parties

dieseldoc

No problem.

tapankd

Hey.. I purchased a CPO 2014 C300 Sport with 19,500 miles with 18" AMG wheels and Backup camera factory installed for $21,500 plus tax in Feb 2017. The price listed is kinda high. Its still under factory warranty till Jan 2018. I managed to waive off Dealer documentation fees and plus get some discount too.. So I would say the price is listed is high. Do your research for similar cars in teh surrounding areas with similar miles and take the price to the dealer.. many will tend to get as close as possible if they want to sell. Good luck.

Just204

That price is high, I have a top secret app that tells me pretty accurate market values of cars hehe...

Just204

That price is high, I have a top secret app that tells me pretty accurate market values of cars hehe...



Estimated market value is 22,800