Help with 2003 C32 Decision
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Member
Joined: Feb 2004
Posts: 81
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From: Las Colinas, TX
2009 GT-R
Help with 2003 C32 Decision
I am curious about opinions on what to do with my 2003 C32. I have a balloon coming due on 9/4/08, and need to decide if I want to keep it, or turn it in and walk away. The balloon is $20k. I actually received a letter from MB financial saying the balance was $10.5k, but when I called to talk to them about it, they claim that the letter is incorrect, and the balance is $20k. I am trying to decide how to proceed. As I said, I have a drop-dead decision date of 9/4/08. My C32 has ~50k miles on it, and is in good condition.
Side note: I have a 2009 Black Premium GT-R on order that should arrive Oct./Nov. timeframe, and I have additional cars to drive so I will not be out of a car between turn-in of the C32 and GT-R delivery.
Side note: I have a 2009 Black Premium GT-R on order that should arrive Oct./Nov. timeframe, and I have additional cars to drive so I will not be out of a car between turn-in of the C32 and GT-R delivery.
Member
Joined: Apr 2008
Posts: 167
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From: Dallas TX,USA
02 w203,85 w123
20K! Yikes! 
Well,u kno R,50K on a Benz is barely 'broken-in'...So u probably wouldnt miss her once u got the GT-R,but u obviously could keep the C for years to come w/so little mileage on her. Interesting dilemma...Let us kno ur decision once u make it. (and pics of the GT-R once u get her!)
Well,u kno R,50K on a Benz is barely 'broken-in'...So u probably wouldnt miss her once u got the GT-R,but u obviously could keep the C for years to come w/so little mileage on her. Interesting dilemma...Let us kno ur decision once u make it. (and pics of the GT-R once u get her!)
MBWorld Fanatic!
Joined: Mar 2007
Posts: 1,518
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From: STL
W203 C230SS
to me, $20k is a lot of money for a C that's close to 6 years old and 50k miles. especially when you have other cars in your stable- and a beauty of a car on the way. seems like a no brainer to me. then again- i am fine having a motorcycle (kakasaki), daily driver (ford focus), and a good weekend car (my benz).
Thread Starter
Member
Joined: Feb 2004
Posts: 81
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From: Las Colinas, TX
2009 GT-R
20K! Yikes! Well,u kno R,50K on a Benz is barely 'broken-in'...So u probably wouldnt miss her once u got the GT-R,but u obviously could keep the C for years to come w/so little mileage on her. Interesting dilemma...Let us kno ur decision once u make it. (and pics of the GT-R once u get her!)
Well,u kno R,50K on a Benz is barely 'broken-in'...So u probably wouldnt miss her once u got the GT-R,but u obviously could keep the C for years to come w/so little mileage on her. Interesting dilemma...Let us kno ur decision once u make it. (and pics of the GT-R once u get her!)I am going to contact my attorney about this.
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Joined: May 2006
Posts: 4,539
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From: Southern Cal
a C32 AMG & S-Works Tarmac
I am curious about opinions on what to do with my 2003 C32. I have a balloon coming due on 9/4/08, and need to decide if I want to keep it, or turn it in and walk away. The balloon is $20k. I actually received a letter from MB financial saying the balance was $10.5k, but when I called to talk to them about it, they claim that the letter is incorrect, and the balance is $20k. I am trying to decide how to proceed. As I said, I have a drop-dead decision date of 9/4/08. My C32 has ~50k miles on it, and is in good condition.
Side note: I have a 2009 Black Premium GT-R on order that should arrive Oct./Nov. timeframe, and I have additional cars to drive so I will not be out of a car between turn-in of the C32 and GT-R delivery.
Side note: I have a 2009 Black Premium GT-R on order that should arrive Oct./Nov. timeframe, and I have additional cars to drive so I will not be out of a car between turn-in of the C32 and GT-R delivery.
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MBWorld Fanatic!
Joined: Dec 2007
Posts: 5,034
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From: Corona, CA
03 g35 coupe...........02 c32 Sold
i say keep the C32 for the daily driver and use the GTR as the race car. The GTR is a great but not as comfortable as the c32 for daily driving.
if you can only pick one..gtr all the way.
if you can only pick one..gtr all the way.
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Member
Joined: Apr 2008
Posts: 167
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From: Dallas TX,USA
02 w203,85 w123
(That cant hang w/EITHER!) 
Thread Starter
Member
Joined: Feb 2004
Posts: 81
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From: Las Colinas, TX
2009 GT-R
It's the final payment to own. I need to dig out my original contract to verify the final balloon amount. MB is saying $20k. I also have the option to just turn in the car free and clear and walk away. MB has already sent out and independent inspection company to verify the condition, and it passed with no problems.
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
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Joined: May 2007
Posts: 636
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From: Oakland, California
07 E550, 02 C32, 91 300E
It's the final payment to own. I need to dig out my original contract to verify the final balloon amount. MB is saying $20k. I also have the option to just turn in the car free and clear and walk away. MB has already sent out and independent inspection company to verify the condition, and it passed with no problems.
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
Out Of Control!!
Joined: Nov 2002
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From: around the world
monowiper
well if you imagine not having the car at all, would you even be in the market for a c32 right now?
that's the way i'd look at it, as well as searching comparables to see how prices are, but also keeping in mind that you know the car (unlike another used one).
i'd turn it in i guess.
that's the way i'd look at it, as well as searching comparables to see how prices are, but also keeping in mind that you know the car (unlike another used one).
i'd turn it in i guess.
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Joined: May 2006
Posts: 4,539
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From: Southern Cal
a C32 AMG & S-Works Tarmac
It's the final payment to own. I need to dig out my original contract to verify the final balloon amount. MB is saying $20k. I also have the option to just turn in the car free and clear and walk away. MB has already sent out and independent inspection company to verify the condition, and it passed with no problems.
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
Has anyone been in this position with MB, and was able to negotiate a better deal with them than what is due in final payment?
If the car is worth more than the residual (balloon, as you called it) then you win. If the car is worth less than $20k, give it back and let MB take the hit.
Don't even bother spending a dime on an attorney until you re-read your contract. It will be money down a rat-hole.
Last edited by ScottW911; Jul 19, 2008 at 01:26 PM.
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Joined: May 2006
Posts: 4,539
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From: Southern Cal
a C32 AMG & S-Works Tarmac
OK, so you do not have a lease residual here. This looks like a loan to me. You do not have the option of turning the car back to MB.
I am going to repeat myself here. This letter probably means jack. What does the contract say you owe at the end?
Your best option would be to just check the box to pay it off and send in the check as Payment-in-full. Hopefully, they just cash your check and you don't hear from them again.
I am going to repeat myself here. This letter probably means jack. What does the contract say you owe at the end?
Your best option would be to just check the box to pay it off and send in the check as Payment-in-full. Hopefully, they just cash your check and you don't hear from them again.
Super Member
Joined: May 2007
Posts: 636
Likes: 0
From: Oakland, California
07 E550, 02 C32, 91 300E
OK, so you do not have a lease residual here. This looks like a loan to me. You do not have the option of turning the car back to MB.
I am going to repeat myself here. This letter probably means jack. What does the contract say you owe at the end?
Your best option would be to just check the box to pay it off and send in the check as Payment-in-full. Hopefully, they just cash your check and you don't hear from them again.
I am going to repeat myself here. This letter probably means jack. What does the contract say you owe at the end?
Your best option would be to just check the box to pay it off and send in the check as Payment-in-full. Hopefully, they just cash your check and you don't hear from them again.
Super Moderator Alumni
Joined: May 2006
Posts: 4,539
Likes: 4
From: Southern Cal
a C32 AMG & S-Works Tarmac
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