agkistrodon

So Im sure there are posts like this all the time, but thought I'd ask. I have been looking into buying a used C63 (I always have a hard time justifying buying new, haha). Found this listing today from craigslist here in the San Francisco/Bay Area.

http://www.leasereturns.com/newandus...nz-CClass.aspx

An 08 with 25k miles, listed for 48k. I'm 25, make a bit over 100k/yr, was planning to put around 20k down. My credit isn't stellar but not horrible; in the medium risk range from mistakes when I was younger. I've only ever bought one other car years ago when I got my 3 serie and I kind of rushed into that and didn't get the best price. haha. Not really sure what is a reasonable amount to pay for this. low 40's? 42, 43, 45? I'm assuming I'll be needing to finance 30k or less. I'm not really sure what the chances are of me getting that either. I have no other debt currently. My rent is only 850/mo. I pay off my credit cards every month.

Any advice on any of this would be greatly appreciated! Thanks all.

I am Jeff

You should have came here yesterday and bought NickZags car. Less miles, newer car and lower price. oh wells....

agkistrodon

Yeah, I noticed that today actually =/ Was a nice looking car too.

Sincity

Did Nick already sell his car? That would've been OP's best buy. Your rent is only $850/mo in the Bay Area?

ZephyrAMG

Looks like that car had parktronic? was in retrofitted or brought here from Canada?

PatSC23

For financing advice - PenFed.org. I finance the C63 and my condo (5 year ARM) through them - 3.75% on both. They are stricter on credit, but its definitely worth looking. I put down 30k and they cut me a check for $35k one day after I applied for the car loan. Current car loans are 2.99%.

bzliteyear

since you asked, i'll share my $.02 worth.
keep driving your current car, invest the $20k well and you can buy a house in 3-5 yrs...(charge your roommates for rent and help pay your mortgage), and defer your gratification a little. if you do that you'll be better off than 95% of your peer group.
yes, i know the C63's a nice car, but there will always be nice cars around...and this same car will be $20k in 3 yrs and you can buy it cash if you still want it, plus your car insurance will surely be less.
PL

khmergod

Is that nationwide at 2.99%...if so wow!!!

Dkab

+1

you can find one at a lower price anyway

pdjafari

easier said than done, wish I had taken this route every time I pull up at the pump

ZephyrAMG

Whats the point of "delayed gratification"? enjoy life now, you might get hit by a bus or get miningitis tomorrow and loose the leg that presses the gas petal... (obviously I hope to God no one ever does...)

I am Jeff

My rate is 2.68% through Bank of America. They gave me a discount from 2.99% for borrowing over 30k.

andy_c63

I think peet and tasho3 have their C63s listed in Classifieds.

agkistrodon

Thanks guys, haha. I appreciate the Dad advice to wait, but lets be honest, I'm just not patient enough to wait for another 3-5 years!

That said, would anyone care to comment/give advice pertaining to the car I have listed? And how much I should reasonably be able to get a used 08 for? Or an 09. I'm taking my time shopping around, and I'm in no hurry. Thanks for the advice on PenFed.org. I'll look into them when I'm ready to get a loan/purchase something.

pdjafari

IMHO I wouldn't pay more than 47-48k for a used 2010....for an 09...prob. 44-45 and an 08 maybe 42 but I'm just picky.

Considering you can buy a new car for ~55k loaded in the summer with the 10-12k off

agkistrodon

Wait... seriously? If that is true, I can definitely stand to wait till then. Is that pretty common? Even the 2010's I saw listed on craigslist were listed for like 61k I believe.

I am Jeff

Keep in mind that there is no guarantee that MB will offer these same discounts. Not saying that they won't, but just that there are no guarantee.

andy_c63

There is chance the dealers will do more thorough inventory planning this year, but who knows.

andy_c63

There is a dealer who still has a 2010 C63 in my dream config $76.5K MSRP - same as my 2009, but add CF trim, backup camera and keyless go. I tried several times, but they won't sell it for $60K. I guess they are just going to sit on it until it rusts.

On the other hand, even if they agreed, it still would be $11K more than I paid for my 2009 C63.

yamahazing

Since you asked, let me share my story. I had been looking for a C63 for over a year. I refuse to pay new car premium+gas guzzler tax. I was dead set on a white one with a light interior and wanted to pay around $46-$49k. Not been able to find one, I got impatient, and when my Mom passed away two months ago, and needing a distraction, I ended up getting an '08 with 32k miles, certified from a dealer in Ohio (I live in CA). I put $15k down, financed the rest with MBZ at 2.99% for a nice low payment of $475/mo. Problem is the car is black on black and impossible to keep clean (I don't have a garage, I live on a high rise with a garage on the 5th floor that is covered but not totally enclosed). So a week ago, I found a white one I like, and I am now selling my black one to CarMax for $41k. I am losing a few grand but I got to drive the car for 2 months and confirmed it is the car of my dreams. The moral of the story...if you like the car and you can afford it financially, get it. But if you spend this kind of money make sure it's exactly the configuration you want, don't settle. Good luck

ilovegirls

yamahazing: you have msg.

yamahazing

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