Opinions on financing a 4 year old c55
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2006 c55 amg
Opinions on financing a 4 year old c55
I was wondering what you guys thought about financing a 4 year old car, in this case a 2006 c55 amg. I say 4 years because I'll be in the market for a car in a few months and I am really liking the 2006 c55 amg. If I get one around October, it won't be long before it would be 4 years old. I just don't know if I want to be financing a 4 year old car for 25k or so, which is what I think my budget will be give or take. Let me know what you guys think.
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Theres nothing wrong with it
Im looking at financing a car that is four to six years old mind you it will be for 12K.
You may be able to get an aftermarket warranty with your financier.....
Mind you when you owe the car, it will be nine years old
Get gap insurance for the first two years to be safe in case of a total loss.
Keep in mind look what a ten year old AMG goes for. A 1999 C36 goes for $5-$8K. A c55 brand new was comparabale to a C36 brand new. So i think it is safe to say it will be worth that much when your done paying it off.
Im looking at financing a car that is four to six years old mind you it will be for 12K.
You may be able to get an aftermarket warranty with your financier.....
Mind you when you owe the car, it will be nine years old
Get gap insurance for the first two years to be safe in case of a total loss.
Keep in mind look what a ten year old AMG goes for. A 1999 C36 goes for $5-$8K. A c55 brand new was comparabale to a C36 brand new. So i think it is safe to say it will be worth that much when your done paying it off.
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No probs-I do it for customers all the time (I shot a 97 Porsche TT for 6 years on a guy-wow.)-
+1 on the warranty-my 06 55 is "quirky" with light bulbs, and small electronics (annoying at best)-
check MB financing-on CPO's they sometimes run a rate of 3.99-5.99 for up to 66 months (take the longer term and pay more when you can kinda thing-rather then tie into a 48 month loan that is close to the max budget-if something goes wrong for a month or so-the 66 mos loan should/would cost you less those months-then pay ahead again)-
gl on the buy-early congrats!
+1 on the warranty-my 06 55 is "quirky" with light bulbs, and small electronics (annoying at best)-
check MB financing-on CPO's they sometimes run a rate of 3.99-5.99 for up to 66 months (take the longer term and pay more when you can kinda thing-rather then tie into a 48 month loan that is close to the max budget-if something goes wrong for a month or so-the 66 mos loan should/would cost you less those months-then pay ahead again)-
gl on the buy-early congrats!
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2006 c55 amg
it just sounds odd to me that by the time i pay it off, the car will be about9-10 years old and i would be paying the $400/month or so payments which sounds like a lot for a 9-10 year old car. But on the other hand i would be buying the car for its uniquenes and amg goodness. I doubt that throughtout the time i have the car that i would ever see anyone that has a c55. so gthats a plus as well. I guess i could get annoyed if it was a more common car that alot of people have like a 2005-2006 grand prix gxp or something.
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From: murfreesboro,tn
2003 porsche 996 turbo
and im the lone dissenter! never borrow money for a car. if you dont have the cash dont buy it. many will disagree but autos are the single biggest depreciating item you will own. the car is nice but unless you can pay cash find something cheaper. again just my .02
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2006 c55 amg
By the time it takes to save up enough money to buy it straight up, the c63 amg will be cheap enough to buy for almost the same price, probably a little more than I would pay for the c55. You think?
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From: Seattle, WA
C55
I bought my C55 cash as well; theres no way that I'm going to find a C63 for the same price as I bought my C55 in several years. I also couldn't justify getting a loan for a 4 year old car.
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From: murfreesboro,tn
2003 porsche 996 turbo
we all want the better things in life. america as a whole just needs to learn to save for them. sorry ill get off my soapbox!
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I have probably had about a million dollars worth of autos.(42 cars, no exotics lol) Only paid cash for afew of them.
If you can afford the payment, you can afford the car.
I would have put the 17k down on SL55 if that is what I wanted. Never settle. You live once. Hell none of us could even be here tomorrow.
My .02.
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From: murfreesboro,tn
2003 porsche 996 turbo
lol. I think we talked over on the crossfireforums about this...
I have probably had about a million dollars worth of autos.(42 cars, no exotics lol) Only paid cash for afew of them.
If you can afford the payment, you can afford the car.
I would have put the 17k down on SL55 if that is what I wanted. Never settle. You live once. Hell none of us could even be here tomorrow.
My .02.
I have probably had about a million dollars worth of autos.(42 cars, no exotics lol) Only paid cash for afew of them.
If you can afford the payment, you can afford the car.
I would have put the 17k down on SL55 if that is what I wanted. Never settle. You live once. Hell none of us could even be here tomorrow.
My .02.
i was always able to afford the payments. but when it all went south i had 6 grand in the bank and little else.
i wish everyone the best in life . i will never settle. i will also always live within my means
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From: murfreesboro,tn
2003 porsche 996 turbo
agreed. i know a vast majority of the country make more cash than me. i only hope the x generation doesnt end up eating dogfood for supper when they retire. either way if people want to borrow i dont think less of them only that we have different priorities.
of course it also allows me to get great deals when they realize they cant afford them!!!
of course it also allows me to get great deals when they realize they cant afford them!!!
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2006 c55 amg
I would have no problem with financing the car, its just that i'm just trying to find justification to finance one that would almost be 4 years old and $25k, and 9 years old when I pay it off. A c55 amg is a one of a kind car and would most likely still be a sweet car at 9 years old. I would have no issue with ever losing my job, because I am in healthcare and there will always be the demand. If I were going into the auto industry, it would be a different story and would have second thoughts financing a whole car and not saving, buying stratight up or at least paying for half straight up.
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From: Corona, CA
03 g35 coupe...........02 c32 Sold
In my opinion i wouldn't pay cash for a depreciating asset when you can take that 17k and put it in a money account and get 8-10% back every year. Doesnt make sense to put in a car that depreciates 10%-16% a year.
Its like someone taking money out of your pocket every yr.
With that said, i would just financial it with gap insurance, but i would keep your yearly car payments below 10% of your gross income.
Usually they'll allow you save enough money for other things or for repairs in the future.
Its like someone taking money out of your pocket every yr.
With that said, i would just financial it with gap insurance, but i would keep your yearly car payments below 10% of your gross income.
Usually they'll allow you save enough money for other things or for repairs in the future.
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From: Corona, CA
03 g35 coupe...........02 c32 Sold
I would have no problem with financing the car, its just that i'm just trying to find justification to finance one that would almost be 4 years old and $25k, and 9 years old when I pay it off. A c55 amg is a one of a kind car and would most likely still be a sweet car at 9 years old. I would have no issue with ever losing my job, because I am in healthcare and there will always be the demand. If I were going into the auto industry, it would be a different story and would have second thoughts financing a whole car and not saving, buying stratight up or at least paying for half straight up.
Even at 9yrs old, i'm sure the c55 is going to offer better performance and styling then a lot of newer cars on the road.
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2006 c55 amg
i dont think you should really worry about the age of the car as much as do you like driving it? Do you see your self still liking the styling after 4yrs? Are you prepared to do maintaince via diy or mechanic.
Even at 9yrs old, i'm sure the c55 is going to offer better performance and styling then a lot of newer cars on the road.
Even at 9yrs old, i'm sure the c55 is going to offer better performance and styling then a lot of newer cars on the road.
I think I would still like the car after 4 years or so considering its a unique car that not many people have. i would be doing maintenance via mechanic as i know nothing really about cars. i could change the brakes myself I suppose.
