power2go

First let me say that I LOVE the car but fell into some financial issues so I need to sell. The hard part is that I just bought it not to long ago and so I owe $14 grand. I paid $13,000 plus taxes....

My main thing is that I just want to be "released" from the car. Any suggestions of what I can do? It has 98,000 miles and runs super fast and great. Just turn the key and go type of car. Tell which would be better:

1- selling at ebay which I know I wont get any good amount.
2- sell it locally, but most people here (chicago) don't know what this car is. So they will want it dirt cheap.
3- let it get taken from the the finance company (ripo). I'm highly thinking of this route but I know there has to be a catch.
4- let someone else take over the payments.

What are the downside of either of these choices? Specially option 3?

Thanks for any input or other ideas

KA8

I'd post it on autotrader. For around $60 the ad will run until it's sold. Plus you can edit the listing whenever you want. Oh yea it's financed... NVM. How many yrs? payment amt? location?

Nate2046

I'm in the market and I'm somewhat near you, in Indy. Give us some details and what you're looking to sell it for. I can tell you that I wouldn't give you 13k for it because I can find lower mileage cars for that amount.

Keep in mind that if the car gets repo'd you will ruin your credit. The next time you go to finance a car you'll be paying 20% interest or more with that bad credit. That should be your absolute, no options left, last resort. It will cost you a LOT more in the long run.

power2go

here are some details:

white with black interior
new ac
new plugs, ngks or bosh (i forgot)
new front and back brakes (akebonos)
new green air filters
new rear tires
new battery,old one still good
lowered springs and new shock(this was done before I bought the car)
rear lip spoiler in white
new upper ball joint driver side
new crankshaft positioning sensor
new cam sensor
2 rear o2 sensors
sony bluetooth radio with mp3 support and aux input (works great as I stream music from my at&t tilt phone.

rims look good but do have some scratches from last owner.
paint is great and shines nice.
interior looks great and I added some real nice cup holder for 4 people. friends tell me it looks like the cup holders came like tha from mb.

everything works accept for the rear cd changer. which is why it has the sony bluetooth radio. it also has a sirius radio installed before I bought the car.

pm me if you need more info. I will post some pictures later this week if a nice day comes by (raining right now). the pictures does not do the car justice, I love the looks of this white car.

as fas as price I might let it go for 12 gran. I would have to come up with the rest to get the title. lower than that I might as well keep it. she runs fantastic and shifts beautiful. no rust!

oh, on the driver side door it has the mb starmark (i forgot the proper name) but it says something about the car has been inspected ...and meets with mb something something.....
the thing is that I did not buy the car from a mb dealer. but it at a volvo dealer.

power2go

Btw, if they ripo the car I heard/read that when they sell the car if they sell for lets say 9 thousand that I would have to pay the finance company the remaining amount? is this really true? right now im paying $295.00 a month I believe. but with full coverage insurance it comes out to close to $500 a month.

svt ricco

having it repoed will really hurt your credit. i say try selling it locally

power2go

I don't mind the bad credit if I do not have to pay the finance company when they auction the car for less of what I would owe them. so please answer if you know the answer regarding if I have to pay the finance company anything once they ripo it and sell at the auction for less of what I owe. I REALLY need to know this to make a decision. thx.

AMGJared

In all honesty, its a really difficult car to sell...I've been trying to move mine for months since I also am in a financial situation. I only have 69,000 miles and I can't even get $14,000 for the car. Even given my situation I refuse to go lower simply because I know what an amazing car this is even if other people don't. It's something you have to be patient with until you find someone who wants the car for what it is. Your best option as previously stated is to put it on autotrader for the fixed price so your ad is there until the car sells. The main thing you need to do is advertise as much as you can...but not to the point that you lose a lot of cash advertising. Craigslist.org as you probably know is free listing...put it on there along with autotrader and sit tight. Another thing you need to do is be flexible to an extent, as much as it kills us to part with the cars for so little, we have to be aware of the deprecation.

ECTurboGSX

I would suggest selling the car for whatever you can get and come up with the rest. Bad credit will severely hold you back for the next couple of years.

And when you go to sell it, talk it up. "Mercedes' elite tuning arm, AMG, shoe horned a powerful V-8 into the lightweight C-Class chassis to create the mighty C43. With brakes that could stop a locomotive and a suspension that keeps the car on rails, this car is a solid performance machine. Mercedes didn't just stop at making the C43 quick, they also filled it with luxurious features like..."

Most people don't know anything about these cars. If you convince someone that they are getting an awesome deal, a lot of people will jump on it. Most potential buyers are not the knowledgeable people you meet on these boards.

Good luck.

Jons95c36amg

The average person sees a C class of that yr will not pay more for a AMG engine. They don't really care for more performance unless they are a car enthusiast.

Nate2046

Seven years, actually. But I agree with the point you're making. To answer the posters questions, no you won't owe any difference. Thats the risk the lender takes in making loans and thats why you'll be raped if you ever borrow money again because you've proven to be such a poor risk.

Good luck with what you decide to do but you should seriously listen to the people saying you don't want the repo in your credit history

power2go

Nate, where can I confirm what you just said? Last night I read that one has to pay the difference including towing and court fees and whatever else the finance company throws in there. I also read it depends where I live because of different rules for different cities. I'm planning on keeping it because of all the good suggestions everyone has stated. But still not fully decided.

98C43AMG

That car at a dealer repo auction will be lucky to bring $7-8k

greg dif

I am in the market for a c43. Do you have an pics? Thanks

svt ricco

there you go
power to go! try selling it on mb forums first.. good luck with the sale!!

power2go

I will take some pics for you by monday night. thx

power2go

Here's a few pictures.

svt ricco

nice ride...good luck with the sale!! btw, where did you get the spoiler?

Vardar

Some people might not agree with me, but I'd try www.craigslist.com I sold my old van, in 2 days after I posted it. My friend sold his house in 1 week.

u get some spam, but just ignore it....

good luck if u r still trying to sell it, and i am sorry you have to let it go. I love my C43..

Vardar

You are the guy i wanted to talk. I just saw your C43's picture, u got the rims painted. I got some stratches on my front rims, and i want to get them painted black. If you don't mind, how did you get them painted, and was it expen$ive?



thanks ricco.

Vardar

Option #2, #4 is good, and consider the craigslist.com seriously.


like other gentlemen said, repo will ruin your financial world, and it might take about 7 years to get back on your feet.

GOOD LUCK AGAIN

svt ricco

i tried black but i didn't like it...i spent less than $100 coz my friend owns the shop,i just had to pay for materials. base coat is black, silver and gold if i remember right then painted it with graphite grey for the finish then of course the clear coat

Chappy

It will be stated in your contract.

Someone suggested Craigslist or Autotrader. Good choices, but you ain't gonna sell it overnight.

Having a repo on your credit is #2 of the WORST things you can do to yourself financially (next to Bankruptcy). Sell the car quickly and see if you can borrow (from a family member, etc.) the few grand you're going to need to get out of this car.

Can you pick up a 2nd or 3rd job to pay the $295/month plus insurance? That's peanuts!

ndabunka

Correct - If they repo the car they will sell it at auction (and they don't try very hard to get a reasonable figure out of it so you can probably expect a "liquidation" cost of something slightly south of wholesale, around $8K for that particular car). They will then subtract that $7K from what you owe and you "may" be liable for the difference (depends on EXACTLY how your contract is written and in what state). So, if you DO decide to let them repo it, it could CONTINUE to cost you even MORE money. All that work done on the car must have cost a decent penny. Did you foot that out of your own pocket?

So, you NEED to take it to carmax to see what the REAL, street value is of that car with that many miles on it and then make a decision. If someone here can help you get out of it, that would be the best bet but if you have to come up with $2 or $3K out of your own pocket (right now), that would still be FAR better than a repo as the repo will stay with your credit and continue to damage your future credit for something like 10 years now-a-days.

ndabunka

Unfortunately, this is the WRONG attitude. Don't you guys EVER listen to ANY of the financial guys on the radio? Suzy Orman or anything like that? It does NOT matter what the car is worth (to you). It is ONLY a material possession and you can always get another some day down the road. Sell it NOW for WHATEVER you can get out of it and MOVE ON with life. It's like all these idiot real estate speculators who paid $300K for a house they "thought" they could sell for $500K. Market turns south and although they could still dump it now for $300K, they seem to still think that "somehow, some way" the house is worth MORE than the market is willing to bear. NOPE, it's worth the $300K (or $295 that it CAN sell for TODAY and that is ALL that matters). Now, if your able to "float" the assets for a period of time and are 1000% to whether additional depreciation and such, then go ahead and hang on. But that's doesn't appear to be the case with the original poster as he appears to be having a problem funding the $500/month it takes for his ride+insurance. That is NOT the case. Sell it, break even or sell it and take the loss. Just get AWAY from that bad investment. Shessh! : smash: