I own (fully paid) a 2019 E300 with 30k miles.

i would like (don’t need) a 2024 E450 well equipped. OTD around $83k.

I can afford the new car and including all transportation expenses in my household, I would be spending around 15% of take home pay in cars (insurance and gas included).

I would rate my current car as a 6.5 (still a pleasant experience) and the new car a 10.

Should I buy the 2024 E450? Yes, I can afford it but should I use my money somewhere else? Single income from me with wife and two small children, in case it matters.

Thanks for the advice!


Current car

 

It seems like a personal decision, and I don't see how someone else can have a very meaningful opinion. It all comes down to opportunity costs. $83K spent on a car cannot be spent on something else.

Personally, I always knew what sort of material things were important to me, so there wasn't much indecision in terms of buying one thing or another. The real trade off was that the more things I buy, the longer I'm going to need to work before I can retire. The most amazing luxury for me is to be able to spend my time doing what I want to do vs. doing a job to get money to pay the bills. Some people love their work, but I never did.

The old Franklin Covey paper day planner systems had the slogan, "What matters most?" I think it all comes down to that question.

 

You work hard, have a nice family, have saved enough then why not treat yourself to something you would enjoy which in turn will make you happy and be more productive.
I'd say ----Do It-----You deserve it.....

 

Alternatively, you could continue to drive your vehicle and buy this same car in 2yrs time but used CPO at around $60k with 2yrs original warranty plus one year CPO. These cars depreciate around $1k per month.

 

If your current car has low mileage and is in excellent condition, you should keep it. After all a car is a depreciating asset that loses most of its value in the first 3 years. Why spend the money now when you can save/invest it. When it is time for a new car, perhaps you can pay cash. :-)

 

How do your retirement savings look? I’d consider that along with a 529 college fund. The 2019 is just starting its life with the low mileage.

 

Life is short. Buy a new car. Do not hurry, push for a good deal.

 

The buttons and toggles and other direct controls in your 2019 are far superior to the touch screens and pads in the newer models. I have a 2021 which has these newer controls. Even after over a year of use, these controls are intermittent, inconsistent, and unreliable - so it's not me. Many others on this blog have the same complaint. On the steering wheel, swipe up and it goes across. Swipe across and it goes down. Make sure that when you test drive, you try every control on the steering wheel and console and see if you can stomach it. I found driving my old 2014 (W212), with buttons and toggles and levers a much nicer experience than the 2021. The voice control on the 2021 is also worse and does far less than you would expect. Also check the shifting - there are numerous complaints of shifting jerks between 2-3 gears on this blog - I have a few annoying (and embarressing) jerks on every trip. My dealer (one of the best) has tried 4 times now to fix it with no luck. So it may look and feel and smell nicer on a few test drives, but it might not be as pleasant a drive as your 2019 after 100 miles.

 

I also hava a 21 and I hate the haptic controls. It seems you should be able to hold the steering wheel and use your thumb but it responds as you say. I found if you use your finger and place it in the dead center it works. It is not intuitive but it works.

 

Spending 15% of one's income on cars seems excessive to me, especially if you have a family to look after.

 

Upgrade AND keep your paid off 2019 E300! If you can't afford that option save for Kid's College Fund. I got pay raise in Retirement when daughter graduated MIT in 2021 so ADDED AMG E63s wagon to the Fleet. Now @ age 63 can't wait until the youngest graduates from GA Tech in 2026!!!! Might add a $20K Vinfast VF3 to my fleet for the shooting Range off-road West of Town...lol

 

If you want it and can afford it, I say do it.

I've seen way too many of my friends and family pass away before having the joy of the things they wanted to do or have.

"Life is short" is a common term for a reason... it's because it's absolutely true.

Live to be happy and not to worry. Plus, it's only money, you'll make more of it.

 

It would probably help (and I would be interested to know) why you feel your current 2019 is only a 6.5...?

 

I can’t help but see this through an age lens.
When I was younger, I looked at a car as a minimalist necessity.
Economy and reliability were the prime concerns.
Over the years I started gravitating towards driving experience enjoyment.
My most recent purchase was after years of saving, and paying cash.
The main consideration was having something I could thoroughly enjoy, while I still had some youth and vitality to enjoy it.
My mom always said she wanted a Jeep.
She imagined herself driving it with the convertible top down, along the beach, which she loved.
She never got her jeep, and
There were more than a few years I wanted to get her one, and life got in the way.
I agree with the previous comments about paying cash.
If you can’t pay cash, the money is best kept elsewhere.
Good luck whichever way you decide.

 

Ive got the same car as you and I love it. I tried to find newer better alternatives and while you can its not a material upgrade. The only upgrade id ever do, which is way too much for me is a Porsche Panamera. If im gonna sell my car im gonna make it worth it. Now I have not driven or sat in the new 2024 E but I dont expect it to be a massive upgrade. If your bored and just want a new car, a newer E class wont be a big enough change. Another and more likely choice for me is to buy a 2nd car. A sports car for fun and keep the E for daily commuting. Have you thought about getting a fun two door sports car or do you currently have one?

 

Given how these cars drop in value, I would get a 2023 CPO and make it an E53.

 

I don't see any appreciable styling difference between the W213 and W214. Given that MB typically changes styling on a 7-year timeframe, your current W213 looks essentially like the new W214... for the next 7 years. And with just 30K on the odo, it is not really broken in, yet (seriously). (Took nearly 40K miles for my old C-Class to get its best gas mileage.)

All the previous advice regarding depreciation is VERY true. I bought my first MB (a C-Class) new at full list price (minus a piddly $700 discount), paid $41,000 cash, and it was worth just $19,000 two years later. At that point I decided that if I buy another MB (or BMW or Audi), I will make it my very first USED car purchase... on a 2 year-old lease return. I bought my W212 E-350 off its 2-year lease return (17K miles) for $33,000, less than half its sticker price ($68,000). It's 8 years old now with just 42,000 miles... drives like new and worth $18K. So, the depreciation the last 6-years has slowed considerably after its first 2 years.

Even though I can afford to buy new at full price with cash, I've decided never to do so again, and I have not regretted it. I just can't see throwing away money. I'd rather finance a grandchild going to college.

 

Agree and disagree. For my specific usage I actually prefer the COMAND wheel to the MBUX touchpad. I used to use the wheel frequently, while I now avoid having to use the touchpad. But I haven't noticed a drop off in voice control. More often than not I still press the steering wheel control rather than saying "hey Mercedes", but seems to work fine.

BTW, I understand the touchpad has been eliminated for W214, so you have to use steering wheel controls or (lean over to use) the touch screen.

 

We quit buying 'new' cars many years ago when the CPO programs came out. Better warranty, somebody else takes the initial depreciation haircut, and I still get a great car. Done it with BMW and with Benz; I learned a long time ago, just because I 'want' something, does not mean that I 'need' that thing. Time value of monetization is one of the keys to build net worth. I know that now, didn't know that when I was 25. Lessons, and choices. Many of us on these forums can go and buy what we want, but have the hindsight to only buy what we need. Different strokes kind of a thing, rather a conundrum.

 

Just wondering why you consider your 2019 E a 6.5 out of 10 and the 2024 E a 10 out of 10? First of all, no car is a perfect 10. Secondly, there is not really that much difference between the two car. The 2024 is faster but I am sure horsepower alone does not make a car a 10, otherwise the AMG will be a 12 out of 10.
If money is no object, the 2024 is the way to go. If you are leasing, again, the 2024 is a nicer car. If you have to take out a loan, interest rate is high and now is not a good time to take on new auto loans.

 

Why not find a excellent condition used E450 and sell your E300. Challenge yourself to sell you're E300 for as much as possible and try to pay as low as possible for a decent condition E450. Just a guess at the numbers but your E300 might be worth around 28K and the E450 around 40K. Laying out an extra 12K vs an extra 55K after your trade in is a lot more appealing and you'll have a great car in a 2019/2020 E450. Looking back on my life when I think about the amount of money I spent on new cars, I'd do it differently and do what I suggested if I had it to do over again.

 

Just curious if the E450 still uses the M276 3.0L bi-turbo engine. If nothing else, the engine is sweeter and doesn't sound like a damned sewing machine like the 4-bangers do. That said, yeah, get it used and spend the other half on a used SL450.

 

Does not make any sense to trade up for the same car and go from $30k to $80k worth of car. Given that the new one has two more cylinders, that comes out to $25,000 per cylinder.

 

It uses the M256 inline 6 now.

 

This WIS doc from @S-Prihadi shows the M256 having an oil pump limited to low pressure only.

I am curious how is the heat management and oil life?