Never bought a car in my life -- can someone answer my stupid questions?
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2014 C300
Never bought a car in my life -- can someone answer my stupid questions?
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
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
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From: DFW
2022 E350 Diamond White Metallic, 2016 GLC300 Dakota Brown Metallic
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.
Thread Starter
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2014 C300
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.
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.
Last edited by Aimbit; Jun 24, 2017 at 10:36 PM.
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From: Canada
A car
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.
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.
Thread Starter
Junior Member
Joined: Jun 2017
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2014 C300
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.
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.
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From: Canada
A car
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Mercedes w204 4matic sport
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.
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Mercedes w204 4matic sport
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.
Thread Starter
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2014 C300
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.
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From: Northeast
2008 C300 Sport
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!
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!
Thread Starter
Junior Member
Joined: Jun 2017
Posts: 59
Likes: 1
2014 C300
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!
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!
Last edited by Aimbit; Jun 25, 2017 at 08:53 PM.
MBWorld Fanatic!
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A car
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.
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.
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From: DFW
2022 E350 Diamond White Metallic, 2016 GLC300 Dakota Brown Metallic
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.
Last edited by dieseldoc; Jun 25, 2017 at 08:41 PM.
Thread Starter
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2014 C300
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.
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2014 C300
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.
i could probably get it repaired for $1500? But i think the car isn't even worth that.
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Mercedes w204 4matic sport
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.
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.
Thread Starter
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2014 C300
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.
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2022 E350 Diamond White Metallic, 2016 GLC300 Dakota Brown Metallic
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.
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Mercedes w204 4matic sport
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.
Last edited by Just204; Jun 25, 2017 at 09:53 PM.
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From: DFW
2022 E350 Diamond White Metallic, 2016 GLC300 Dakota Brown Metallic
Member
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From: Boston, MA
2014 C300 Sport 4Matic
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.
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.
