How do you pay for your Benz?
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From: Ohio/Florida
2023 GLC 300 4MATIC
How do you pay for your Benz?
Cash, lease, home equity line of credit, conventional loan, MB credit?
Last edited by guitarplayer; Jun 13, 2019 at 08:04 PM.
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From: Los Angeles / Orange County
2005 E500 / 1993 MR2 Turbo
put 25 grand down, financed the rest with MB credit. 4.9% rate for 60 month. $856/month. Have been making double payments sometimes triple payments since I received the first note. Will probably be done with the loan in two years.
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From: Tampa FL
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financed the whole thing to raise my credit score... when i was a teenager i goofed off and didnt pay bills... now it hurts b/c it was hard to qualify for home loans.
i took a hit b/c of credit score, put $10k down on $13k c class so i paid like $50/mo for a 60 mo loan at 12%, so i then i pay $200 a mo and i pay more then the minimun and that reflect good upon my credit... in 6 months my score had risen 100 pts...and next thing you know im in the 800FICO braket
i read the susan orman book too... she is basing that on east coast/mid western economy/lifestyle...take into account the cali economy specificly home equity the avg in the US is 15% here in nor cal it is between 22-27%, where else can you 100% finance a home, pay interest or less only, refinance it in a year and pocket $120k?? then take that $120 and turn and put a down payment on a $500k house, wait a year do the same, next thing you know you have 10 houses.. cash them all out and buy a million dollar house in cash...still banking on the 10 previous homes b/c you rent them out...for more then your mortage payment
(offtopic)anyone buying a house? (im a mortage loan officer) alboogiee @ gmail . com
i took a hit b/c of credit score, put $10k down on $13k c class so i paid like $50/mo for a 60 mo loan at 12%, so i then i pay $200 a mo and i pay more then the minimun and that reflect good upon my credit... in 6 months my score had risen 100 pts...and next thing you know im in the 800FICO braket
i read the susan orman book too... she is basing that on east coast/mid western economy/lifestyle...take into account the cali economy specificly home equity the avg in the US is 15% here in nor cal it is between 22-27%, where else can you 100% finance a home, pay interest or less only, refinance it in a year and pocket $120k?? then take that $120 and turn and put a down payment on a $500k house, wait a year do the same, next thing you know you have 10 houses.. cash them all out and buy a million dollar house in cash...still banking on the 10 previous homes b/c you rent them out...for more then your mortage payment
(offtopic)anyone buying a house? (im a mortage loan officer) alboogiee @ gmail . com
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2005 C320wz
Originally Posted by alboogiee
i read the susan orman book too... she is basing that on east coast/mid western economy/lifestyle...take into account the cali economy specificly home equity the avg in the US is 15% here in nor cal it is between 22-27%, where else can you 100% finance a home, pay interest or less only, refinance it in a year and pocket $120k?? then take that $120 and turn and put a down payment on a $500k house, wait a year do the same, next thing you know you have 10 houses.. cash them all out and buy a million dollar house in cash...still banking on the 10 previous homes b/c you rent them out...for more then your mortage payment...
I got that advice from this article here
http://biz.yahoo.com/pfg/e16buylease/index.html
Member
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From: So Cal
'04 E500
...
Originally Posted by mick1
i followed Suze Orman's advice and paid cash
She's just a troll out to sell her own line of products....and that grin of her is just <priceless>.
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From: SF Bay Area, CA
11 W212 E350 Sport, sold 06 W211 E350
Put 50% down, home equity loan for balance, for tax deduction.
BTW.....I think the California Real Estate Party is about over for a while.....everything runs in cycles and this one is starting to show signs of slowing down.
BTW.....I think the California Real Estate Party is about over for a while.....everything runs in cycles and this one is starting to show signs of slowing down.
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From: Tampa FL
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Originally Posted by sacguy
BTW.....I think the California Real Estate Party is about over for a while.....everything runs in cycles and this one is starting to show signs of slowing down.
werd!
it is slowing, but hopfully doesnt "cap" the market...that would suck, people would lose a lot of money...
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From: FL410
'05 E320 CDI, '08 BMW X5 4.8i, '11 Duramax 2500HD
Only because my wife was planning to use this cash on an unneeded remodel of our backyard.. I took $45,000 out of a maturing CD, rolled the rest into Muni's and financed the remaining $16,000 over 12 months.
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From: THE NAPA VALLEY, CA
Build date 2-04 E500
Originally Posted by konigstiger
Grabbed a hand full from one of the shoe boxes in the closet. 
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From: FL410
'05 E320 CDI, '08 BMW X5 4.8i, '11 Duramax 2500HD
Originally Posted by guitarplayer
Cash, lease, home equity line of credit, conventional loan, MB credit?
Bought my E320 a few weeks ago by accident while browsing a dealer on vacation in Florida. Just had the dealer throw it all on the MBCredit 60 month 4.9% simple interest loan since I had nothing with me. Hate that high of a payment so just figured I would write a check when the first payment comes due here next month from my Home Equity Line of Credit. That way I'll just throw some extra cash at it every month since my freakin stocks are still in the toilet and pay it off in a few years.
Wife informs me just a few minutes ago that she does not want any loan and wants me to dump my stocks and pay it all off. Tried to explain to her I'd rather take a year or two to pay it off and give my stocks time to recover. Hate to dump them, would rather pay $400 or so a month for a while and keep the stocks that to wipe out a large sume of money in one swoop.
Just needed to rant. Any of you go thru these frustrations?
Bought my E320 a few weeks ago by accident while browsing a dealer on vacation in Florida. Just had the dealer throw it all on the MBCredit 60 month 4.9% simple interest loan since I had nothing with me. Hate that high of a payment so just figured I would write a check when the first payment comes due here next month from my Home Equity Line of Credit. That way I'll just throw some extra cash at it every month since my freakin stocks are still in the toilet and pay it off in a few years.
Wife informs me just a few minutes ago that she does not want any loan and wants me to dump my stocks and pay it all off. Tried to explain to her I'd rather take a year or two to pay it off and give my stocks time to recover. Hate to dump them, would rather pay $400 or so a month for a while and keep the stocks that to wipe out a large sume of money in one swoop.
Just needed to rant. Any of you go thru these frustrations?
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Joined: Nov 2004
Posts: 24
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From: Delaware, USA
05 e320 cdi, 99 Denali, 94 Buick Wagon, 01 Yamaha Silverado, 03 Screamin' Eagle Road King
pay for benz
My CDI is my company car. Put $10,000 down and financed via Mercedes credit. Planning on selling the businesses by the end of the year, and will personally buy it out of the company for the outstanding balance.
Off-topic, in the 8-9 months I've had the car, I've worn a hole in the fabric of the door pillar, getting in and out of the car. Anybody else have this problem, and, if so, what did you do about it?
Off-topic, in the 8-9 months I've had the car, I've worn a hole in the fabric of the door pillar, getting in and out of the car. Anybody else have this problem, and, if so, what did you do about it?
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From: FL410
'05 E320 CDI, '08 BMW X5 4.8i, '11 Duramax 2500HD
Originally Posted by mojosounds
Off-topic, in the 8-9 months I've had the car, I've worn a hole in the fabric of the door pillar, getting in and out of the car. Anybody else have this problem, and, if so, what did you do about it?
it's a poor design, and I go totally out of my way to avoid making contact with it.. so it's looks good. The occasional scuff goes away with carpet cleaner. What I hate is when I take it into the dealer for service, and they scuff it! Talk about no class..
It's a poor design, I wonder if they would replace it for you under warranty? have you asked?
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Joined: Nov 2004
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From: Delaware, USA
05 e320 cdi, 99 Denali, 94 Buick Wagon, 01 Yamaha Silverado, 03 Screamin' Eagle Road King
door pillar
Have not complained to the dealer. Yet. I'll make a strong plea, but I'm thinking I need to have it replaced with leather. A moulded plastic cover would work, if there were an after-market company that believed there was a demand.
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From: FL410
'05 E320 CDI, '08 BMW X5 4.8i, '11 Duramax 2500HD
Originally Posted by mojosounds
Have not complained to the dealer. Yet. I'll make a strong plea, but I'm thinking I need to have it replaced with leather. A moulded plastic cover would work, if there were an after-market company that believed there was a demand.
Leather, or MBTEX?
seriously, post what comes of it here when you do.
Newbie
Joined: Nov 2004
Posts: 24
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From: Delaware, USA
05 e320 cdi, 99 Denali, 94 Buick Wagon, 01 Yamaha Silverado, 03 Screamin' Eagle Road King
door pillar
I'll let you know what happens. Actually, it would be a good time to do something about the door sills, too.
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Joined: Feb 2003
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From: San Clemente, CA
2003 E-500
I paid cash for my most recent MB and all cars and boats I've ever owned except my first Ford purchased in 1957 before I got married.
Read the Millionare Next Door to learn how to become a "PAW" (Prodigious Accumulator of Wealth) and avoid the trap of credit payments.
Read the Millionare Next Door to learn how to become a "PAW" (Prodigious Accumulator of Wealth) and avoid the trap of credit payments.
