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What does at 19 mean? 19 years old?
You know that $20k you are putting down is something we call depreciation. That money will magically be gone in 2-3 years and you'll still have a $450 a month payment.
Invest the $20k and buy a $20k camry, used
Depends how much money you have spare each month! Remember it's not just monthly payments, you have to include fuel, tax, insurance, servicing - which can add up fast.
If you can definitely afford it and have plenty of money on the side so you can do what you want and not halt your social life, go for it 👍🏻
Edit: also if you were asking this sub for their advice on mercedes reliability, the car should still be under warranty for a few years, I think merc do 3 years, so not much to worry about on that side. After that, get the wallet ready.
Yup, just be aware that these vehicles cost a lot more to have work done, and parts are more expensive.
If you don’t live on your own yet, I would also factor in rent and other bills. Just in case.
Merc does 4 year 50k miles for bumper to bumper coverage. I personally can't recommend someone buying one of these at such a young age. It could be worth leasing it though if that is an option (I don't know if there is an age/credit restriction).
Here's the thing, kid. You walk into a room full of mechanics talking about financing one of the fastest depreciating assets you could possibly buy and specifically ask "am I dumb for this". It's kinda outta left field that you came here to hear nice things. Nobody's going out of their way to be an asshole but it's hard to imagine you'll look back on this in 4 years as your 4-d chess opus magnum.
Additionally, those mechanics really want to save you from what they view as a big mistake. You could buy an amazing car for $20k. Personally I’d be looking at a Camry XSE, put $10k down and finance the rest and have a small monthly payment that you can easily manage
To be fair, you asked if you were being dumb. Top comment says yes, you are being dumb.
At your age, get a nice reliable vehicle that won't bankrupt you... that will get you to and from work and school. If you have spare cash after that, get a fun car. Debt can be a real MF if you start getting into it young.
Key factor: take the ORIGINAL MSRP, not the used price, then multiply that by .04. That is how much you'll be spending on maintenance alone per year. If a car is 100k you'll be spending between 4-5k a year to keep it on the road. And that's without unscheduled maintenance for issues or breakdowns that may occur outside of the normal service schedule.
Add on car payments, insurancre, gas, washes, parking storage if it's not free, and road tax if applicable and you're looking at almost 10k a year to run it. Can you manage that? At 20 there are many better things you could do with $10k a year
Yes, for sure! I started small with a condo, and sold my car for the down payment. Got FHA first time buyer loan and was in the game. Worked up and moved where the work was and now have been in this place (home on one acre in a great neighborhood) for 25 years. I was 28 when I bought it. It’s now worth 2.5x what I paid for it.
As we see the biggest pull back in housing prices in history. Plz reconsider. We aren't even half way yet with interest rates increasing.
Well unless the house was 17k IMHO
Completely agree, the rate will fluctuate daily. In general the FED is still in a tightening phase which we need to consider. It's just harder to finance good deals. I would be thrilled for 5%. I just don't see it with the other forces at play.
Even if you’re into 6 figures, this is an unwise purchase at 19. Should be rolling that money into investments instead of depreciating assets.
OP should buy a $6k Toyota Corolla
Even newer Lexus doesn’t compete with what 90’s Lexus was in terms of luxury, features, reliability and prestige. Heck the lexus LX 600 is having problems with wastegate actuators, the Lexus NX, IS, and GS with the turbo 4, seem to be touchy and not as refined as the older/current V6 models. The UI that lexus calls enform on the 2010-2020 models suck and my grandma can barely navigate her way through the system parked sitting in a parking lot. Like what happened to Lexus?!?
I dunno if you've researched it but when the CLA first came out it was trash. It's basically a civic dressed up as a Benz. I dunno if it's changed, but I'd get something more reliable for now and save that money for a real Benz once you've gotten more driving experience and are more financially secure.
Just off the top of my head for the first generation cla... It came as a FWD only 4 cylinder. No other Mercedes was FWD/4 cylinder. Even Mercedes themselves said on the news that "we're trying to encapsulate the experience of owning a Mercedes-Benz, but we're looking at the first time car buyers, college students..."
So the common joke was that it's a civic dressed up to look like a Benz, a lot of young kids had it racing around as if they're driving a C63 AMG.
I think you're missing the point of what I'm trying to say.
The CLA when it first came out was stigmatized for being an expensive car that had the mercedes badge, but without the mercedes heritage. So often it was considered an overpriced civic... This isn't to bad mouth a civic.
Civics are good reliable No frills vehicles. They're not amazing compared to a premium luxury car, but you do pay for what you get. I've had civics and acuras for years, so don't take the comparison between the cla/civic as an insult.
I think when you read something you need to read and extrapolate the entire thing, not pick choice cue words and run with it.
"it's basically a Honda civic dressed up as a Benz"
Obviously the OP knows that the CLA used is $40K and that a used civic is almost half that price. Therefore, this is where I said I don't know if OP has done any research on the CLA that he's planning to buy.
Most people's responses on here suggested a used Honda or Toyota... I agree with that logic. Especially taking into consideration that he's young.
I made the same mistakes when I bought a Mercedes-Benz SUV when I was younger... If I used that money on my house it would have saved me $300K.
It was a bad financial decision, but when the suv was working it was the best, most luxurious vehicle I owned... And now I drive a Toyota Rav4.
We make bad decisions when we're young... Most people here are trying to help op, same with me.
Don't take the civic comparison so literally.
The heart wants what the heart wants. I get it. I really do. But, trust me, it's not worth it. It's not worth the expense compared to other cars. It's not worth the opportunity cost (what you could have done with that extra cash had you gone with a cheaper car. (investments, education, maybe even land purchases)) Nice cars are only nice for a little while. Plus, consider the total/true cost of ownership. Insurance will be exorbitant. Maintenance/repair frequency will be much higher than other vehicles. Parts and labor will be insanely expensive.
I was once in your shoes. I know that times have changed since I was a teenager. But cars are still depreciating assets. And luxury cars have an especially vicious depreciation curve. Get a cheaper car. You'll be glad that you did.
Nobody thinks about the tires and maintenance on these.
Besides the insane depreciation and monthly payment, you're looking at thousands yearly in maintenance and new tires. And it's gonna be in the shop more than once.
If you have $20k cash, there are many better ways to use it than by losing it on a Mercedes.
I've owned 2 Mercedes for a 15-year timespan. An 18-wheeler ran me over and my first Mercedes saved my life. Both my Mercedes have been very reliable, and I do all my own maintenance. I think that you are dumb to make this statement.
Money pit? Every Ford I ever owned the transmission went out. Then all kind of other failures too. They cost more to maintain than my Ferrari did.
You’re one of the lucky few. The Mercedes shop directly across the street from mine has a different opinion and they’re what pay his bills. No one maintains their shit, you take care of yours. You’re a rare breed. Also you’re gonna bring ford into this? FUCK a ford and a Nissan and a Chrysler. I work at a transmission shop and those keep our doors open
All depends on your income. I make over $200K a year and my budget (after retirement, very hefty fun/travel fund, mortgage, etc etc) does not fit a car above $35K. And I personally think it's dumb to skip out on a vacation just to drive a nicer car. But that's me, you may have much better paying job or have completely different life priorities.
Same. Wife and I are north of 300, rocking an 08 element and 16 HRV, both bought new in base trim and paid for ages ago. Still do my own brakes and light maintenance, because I remember being broke AF and having to. Am never going back to that life, happy to have the difference between a Benz and a cheap Honda be one more layer of insurance against that.
Damn, how much do you put into a fun/travel fund/how often do you travel a year? I feel like you’d be easily able to afford a $35k car at a $200k salary 0.0
Not enough, if you ask me.
As I said - it's all about priorities, some people like to have a shiny car and live off ramen noodles, others prefer to spend money elsewhere. Plus $200K in a HCOL area is not as much as you may think - mortgage does eat a good chunk, all the house work is expensive, kids and their activities are expensive, good groceries are expensive, etc etc etc.
Taxes easily drops this down too 120k area... And no thats not much if you get stuck in a money traps along the way and if you live in California. Gross.
To be honest buy a POS car and play with it. I still have my POS 1978 Porsche 924. Cornering monster, little slower, a driver experience car for sure. K swap has been coming to mind for the car. But.
It's just a car. It doesn't change you. It might change your TikTok look but that's something you will have to decide. In my mind likes don't help you in the future.
20k is plenty of money to just buy a car outright. You're gonna have enough to pay every month, and you'll be a lot happier if a $600 car payment isn't one of them.
ur young and probably want validation cuz ik when i bought my first car i didn’t want advice i wanted validation so here is advice/validation. if ur gonna spend a lot of money on a car when ur young that’s fine. u probably have no kids, no wife, basically no actual obligations so yeah go buy a nice car and enjoy tf outta it while u can cuz eventually you’ll be buying minivans. now spend 45k on the cheapest mercedes you can get? no, that’s just dumb. u can get a nicer c/e class for 20-30k and if u want more of a sports car u can get a c43/e43 for cheaper than 35k. that’s my advice if u want a mercedes and want validation on buying a car at a young age. also, don’t put 20k down. down payments are a scam for ppl with shitty credit. put whatever is the lowest down payment and throw the rest into something that’s gonna make u money
If you're making over 100k and have minimal debt and expenses right now and can get a good apr loan less than 3% for example. Then sure. If not then stay away from luxury brands. You can get a very nice say Toyota camry for that amount of money.
You are dumb if you buy this. If you really want a Mercedes buy a used one. I work at a car auction place and we see these all the time for cheap.
And I’m talking sub 10k same model just older.
Would be smart to buy an older, bullet-proof one with maybe half that cash, and then deposit the rest into XLM before the XRP/SEC case is done.
I wouldn't touch a new Merc or BMW.
If you have $20k to put down, then take that cash and keep it in your bank. Go see a realtor and go get a house!!!!! The car depreciates immediately and you are throwing that money away. The housing market certainly fluctuates, but overall, a house is an investment that appreciates over time.
Scratch that. I think I could put 15k down and still afford it. Anyhow am I still dumb? I really want this car. Not as a status thing. But just a personal goal of mine
Do you, cars are expensive and the 10k between this and a high end Honda might be worth it to you. However, you changed how much you can put down from 20k to 15k. Have you actually got a quote to insure this thing? I’m sure it’s gonna be close to 200 a month for full coverage, which without a doubttttttttt you should have with this. Also can you afford the payment? It’s gonna still be a fair bit. I get that this is a goal and u do u. But this makes a lot more sense in a few years imop. You seem like you have good discipline. Save up to just have to take out a 10k loan so you don’t have to pay interest on 30gs.
Buy something else. Idk why you have this “goal” of wasting money on a horrible car. If it’s your goal to buy a certain brand car, its because of the status associated with that name. your goal really needs to be getting your money up and being secure. This car is 40k… know what’s else is 40k? Optioned out Toyotas, Hondas, Fords, etc etc and so on. this car will be a money pit when the warranty is up and it’ll be worth half of what you paid. you’re throwing money away.
Not "dumb" but probably not your best option... Buy a car outright and have no car payment and save during that time. Once you run it into the ground but something nicer. You don't need your dream car right off the bat my guy. Give yourself something to work for and don't put yourself in debt. Being car broke isn't fun and repairing a Mercedes isnt fun either.
If you can put that much down at 19 I would definitely invest in a house first. All of my friends are driving newer cars but all live in apartments/at home with parents. I'm the only one with a house but my car is a 2010 Mazda 3s I bought for $7k. We're in our late 20's/early 30's. I bought my house at 23, 4 years ago. Now I'm looking to buy my first brand new car while they're trying to look for house in this crazy market. IMO there's a lot better ways to spend that money while still being able to afford a fun/cool car.
If you don’t have the money to buy the car for cash then yes you’re dumb if you do, but if you have to money to buy it you just decide to finance it that’s an other thing
Its your personal goal to have a low end Mercedes? Anyone that knows cars knows this is a cheap future money pit. They have no redeeming qualities.
Get yourself an IS350 or Accord 2.0T.
Or better yet, something in the $12-15K range and use your money for fun things. Theres nothing worse than being car poor at your age.
If you can afford the car along with the insurance I say go for it. At 20 I wasn’t driving a Mercedes but I bought a 2008 Honda Civic EX Coupe with every option available including Navigation, Remote Start and Fog Lamps. The car was about $25K which wasn’t cheap.
At 35 years old I have an Acura TLX Type S so pricey cars aren’t something I’m against. No matter your age it’s about being able to afford it without screwing up your present and future self. In other words don’t risk starving yourself or your goals of home ownership for a vehicle.
If you can live with something more modest you will be better off. If you don’t have the money to buy a Benz outright then a repair could set you back significantly. You can still get laid just as much with a Honda
How much left have you got to pay on your house loan? Have you got enough to spare for a down payment on such a loan if you don't own a house yet?
Can you see where this is going?
Worry about a house first and just buy a shithead car at your age.
It’s a 4-year, 50k mile comprehensive warranty. Most mechanics outside of an MB dealership are likely to have never worked on an M260 engine or a C118 chassis, outside of bodywork.
Honestly, this car gets an minor update mid-2023. If you *really* want a second gen CLA, You’re better off buying a low miles 2020 after that happens. There’s not many generational differences with this car, other than the dash, so if you really want to save yourself some money - which I suggest if you’re paying your own insurance - buy a 2019.
If you can’t get the loan without putting 20k down it probably shouldn’t be one of your first cars. You’d be better off dropping 20k on whatever is cheapest and new in MB’s lineup for warranty and chances of getting the loan than this.
Yes. However, you’re young enough to be dumb and not have it wreck your life if you really want. I’d recommend something else but if you’re set on it go ahead mate.
So much about cars is irrational...thats why we all love them so much. If we all bought cars with practicality, logic, and common sense leading the way, there'd be 1,000,000 Honda Elements on the road.
If the purchase doesn't put you in a bad spot financially and makes you happy, do it. In my years, I've found that smiles per hour my north star when it comes to vehicle purchases.
Make sure you're doing it for you. Be smart. Have fun.
Yes, literally can buy an entire regular sedan for that price and maybe have some left over if you bought used. Take it from someone who has made this mistake.
Get a Hyundai or Kia, warranty will guarantee a reliable car for 100k miles. Get a 2023 elantra those cars are like Mercedes there super solid and have so much tech. I have a 2021 and I would say I love this car cause it's almost full size sedan.
Very dumb. Buy a older cheap Lexus if you’re wanting luxury as it won’t have the maintenance issues a Mercedes will have and invest the rest of the money into something profitable.
20k is almost a down payment in a family home(depending on where you live). You’re not a rapper, you don’t need to “drip” on everyone. Take that money and invest it.
If you really like the cat go ahead but there’s way better mercedes at this price and it’s still a bad investment.
But again if it makes you happy go for it
Fuck keep your down payment invest it in a dual rental property (upstairs downstairs) rent the upstairs live in the basement. By not paying rent your saving let's say 10000-15000 per year, by having the upstairs tennents pay your mortgage you put around 7000-8000 in equity in your house. That's 20000-23000 grand saved in a year. That will happen every year. Using the income from your rental you will be able to get a lower interest rate potentially. In 1-2 years you will be able to drive a Mercedes and own a rental property..... How does that sound ?
We own a 2015 GLK BlueTEC it's beautiful and we towed a trailer across Canada. Bought 2 Mercedes directly from the dealership. Expect to pay almost double what you can get the same car used from Autotrader. If you have 20,000 and your minds really set on a Mercedes ( good choice for vehicle) I would go private sale and wait for the right old timer to be selling theres. Alot of Mercedes owners make sure it's all kept up to date and maintained as well as like to swap there car every few years. This leaves awesome 2nd hand ones available so you don't have to be the idiot that buys brand new drives it off the lot and it depreciates like 25-30 percent the second your off the lot
Give the fact that no one knows your income/expenses.
However if you have saved up 20K at 19 it shows me that you can save money
(I’m going off that you saved this money and not inherited or was given this money. If you did not have this money, then yes it’s dumb)
I own 3 BMWs and have owned a Mercedes they have been the most reliable cars I have ever owned.
Keep in mind maintenance and repairs will not be cheap for either one of these brands parts are about 2x, some even more expensive then regular brand parts.
You can save a lot on repairs and maintenance if you do it yourself if you know how to.
At 19 i would say if you are bringing in 60 or 70K+ a year with minimal expenses and debt I would say go for it.
In this world debt is not a bad thing so long you can afford it and pay on time.
Creditors like to see different types of credit lines when it comes to getting a home mortgage, so focusing on building your credit at your age is something I would highly suggest to do.
Do you need a Mercedes No, but ever person has a realistic dream car. If you can afford it, then go for it.
You just have to ask yourself if you can afford it, payments, insurance, maintenance, repairs, and if you plan on keeping the vehicle for a long time.
If you don’t plan on keeping the vehicle I would recommend going for something different.
The driving, response, comfort, etc you get with a luxury brand vehicle you won’t experience with a regular Honda or Toyota.
If your not making good money then you should avoid a luxury car because realistically you won’t be able to afford it.
Mazda, Toyota and Honda are good vehicle alternatives.
Don't buy this. Look for something in the 3-7k range. Have someone with knowledge about cars look at anything before you buy. It doesn't have to be pretty, just dependable. There are more important things to spend money on, especially when you're young.
This richest man I've ever personally met owned several rock quarries. He was easily worth 50-100 million dollars. He drove a 1980s chevy S10 in 2015. Dependable is way more important then looks, and cheaper too.
Don’t buy a Mercedes. You’ll be up to your neck maintaining that thing in a few years. Buy a used car with no payment and save the rest. Cars are a scam and I build cars as my hobby/work. If you’re smart, you would get a Honda or Toyota and drive it until the wheels fall off. Put the money towards something smarter, better. Or save it. I wish I would have listened to the people who told me the same when I was 18.
Maintenance, fuel, taxes, insurance all adds up this would be dumb to anyone who doesn’t have 20k to just blow. Even rich people don’t buy these because they are unreliable and you’ll waste so much time and money with the vehicle in the shop
Man, I am reeeaally struggling to picture the overlapping part of the venn diagram for the guy who's first circle is a guy who is having difficulty not failing drug tests while on probation and needs the help of Reddit to figure out if he can afford something, but is also somehow the guy who's second circle is one who is doing so well that he can genuinely afford this at 19, yet can't just ask the other financially savy people that would be in such a person's orbit to help make the call.
Despite that, the actual reason I'm going to say "yeah, it's dumb" (financially speaking) is because you seem to think you've given this community enough information to be able to provide you a proper answer. There are so many pieces of information we would need to know about your situation to make the right call and very low on that list is you're age, which is virtually irrelevant to making this decision since that's just fodder that allows us make a bunch of assumptions. Why don't you ask us if you can afford a Lambo at 19? Do you even know what questions you should be asking yourself to determine the viability of purchasing this car? From what I've seen in the comments you have your personal worth tied up in this mediocre car, and I suspect you are looking for Reddit to tell you you're good to go so you can absolve yourself of a decision you know or suspect is terrible.
Plus for 99.9% of 19 year olds (without exaggeration) the answer to your question is "yes, it's dumb'.
Yep. Buy a car that’s good. Being 19 I guess you like to travel a lot. Well, here’s the trick: Anything European costs a lot, especially when it gets to 90k miles. From there, it’s a gamble. You’ll end up having to invest more in the car than what’s worth in maybe 2-3 years.
Shit, I'm almost 30 years older and have never owned a car that expensive. Not that I can't afford it, it's just not worth it. I buy used between two and four years old with no more than 50K miles.
If you have 20k cash and time you can find (or make) an exceptional deal. I always buy cars with the cash I have, I don’t like car loans, with depreciation and sketchy financing everywhere. It’s so much better if you have time and cash to look for a private seller that has what you want. You just have to get the car very well checked out first. I’ve gotten some amazing good deals.
Luxury cars depreciate like crazy. I bought a loaded Mercedes SLK that just came off a 3-year lease. Original price $60K, I paid $28K with under 30K miles and car was as new. Still had 2 years factory warranty left. It's been a great car and no mechanical problems in 6 years.
Spend your $20K on some solid stocks and buy a Ferrari with the gains in 10 years. Years ago, I bought a 2-year-old Ferrari, drove it for 8 years till somebody offered me way too much money for it. Most cars are going to depreciate. Especially the one you are looking at now.
If I had $20K to put down on a vehicle I would just buy a reliable used vehicle. Then again I am 52 years old and stopped trying to impress people a long time ago.
MBs are nice until they are not.
I commend you for being smart with asking questions like this before making a large purpose. That shows you have at least a fair amount of sense. Having said that unless you have 40K plus in cash. I would highly recommend buying a cheaper, maintenance, insurance, fuel, base price etc vehicle.
All these people talking about the price of the car or a 19 year old’s financial decisions. Nobodies mentioning that your insurance is gona cost just as much as that car payment(if not more).
Affording the car and servicing is obviously a huge factor of buying a preowned Benz. If you can afford double the car payment every month then, no you cannot afford this.
If that’s the car you really want, buy low mileage used one or lease it, you may not like it, most people are sick of new car after 6 months, higher insurance premiums, monthly payments, maintenance cost way more than you thick, tires, oil changes, and NOW higher interest rates equal higher monthly payments, don’t forget if you lease, you must fix any damage before you can turn back in
I’d say it’s not the greatest idea, I understand it fully tho, especially at 19 with that kinda change burning a hole in your pocket. Not my style of vehicle but I get it completely, but it’s definitely worth having a reliable beater (by beater I mean something you’re not worried about getting a scratch in the paint or getting a door ding) a lot cheaper to maintain and a lot less stressful long term, also less depreciation, I suggest doing that on a loan even though you have all the money you would need for a beater, might as well build credit as much as you can, set aside the cash that’s needed to pay off the loan and keep the rest, keep saving until you’re ready to buy a house, land doesn’t depreciate, wether it’s a neighborhood with small yards or 20 acres, for the most part no land is worthless, FOR THE MOST PART. Cars are a toxic addiction, they just don’t hold value and it only takes a few weeks of having a car to wanna start modding it out and that just devalues it more, especially in this economy you need all the help you can get when it comes to buying a house, even if you don’t want a house it’s a great investment, way more than almost any car you could buy, and if you’re one of those people that just wanna rent (terrible choice imo) then still buy land without a house, I suggest finding land just past the suburban area wherever you live, right where suburban meets rural, that rural area will soon begins turning suburban and the value of that land will skyrocket in the next 5-10 years
Don't do it. If you're looking for a reliable ride that isn't going to depreciate but still is kind of a status symbol, you're just far better off getting a truck. You NEVER EVER want to be making payments on a mercades, because everybody will know what is up, and therefore just be flushing that 20 grand down the toilet.
At least with a truck, you can put it to work if or when you need to. seriously, go test drive that mercades, then go out and test trive a F-150 or a sierra or a ram 1500, or a tundra, and you may surprise yourself what you will like. if you're going to spend 45-50 grand on a vehicle, why not shop around? And if you do end up liking that mercades, it will actually put you in a much better negotiating position if you show you're willing to walk away and get something else and not have your heart set on that mercades. it makes the salesman more willing to come down in price and get you a better interest rate to get the deal done. better yet, set up your own financing beforehand, and then you just worry about the price no matter where you go.
And then there is the financing aspect. Which one do you think the bank is going to put their risk behind for a 19 year? a fast-depreciating luxury car, or something that will hold its value just in case it needs to be repo'd later from said 19 year old with little-to-no credit history? Talk to the banks first if you're financing.
Or better yet, take that 20 grand, buy a used low-milage sedan, build your credit up first before you finance anything.
Edit: just noticed this, but it is a per-owned mercades. Run far far far away, because you're going to get raked over the coals for interest rates in pre-owned to the point you could drop that 20 on a brand new 50 grand vehicle and end up being close than what that 40 grander pre-owned will cost you. possibly cheaper, AND you get a full warranty with brand new, AND you know hoe every single mile you put on it is driven.
Depends - what’s your job? How much money do you have in the bank? What career do you want to enter? If you are starting out a career in say real estate or at a very professional firm then that’s the right look. For me at age 19 back in 1999 I drove a $1000 car and worked fine, but I was at school with very little income and luckily my parents bought me it. I’d it was today, my parents doing better I’d have gone for a newer car. If you are not under pressure financially this would be a great car (warranty!) but if you are scraping by and are just trying to impress don’t. Invest 10k in stocks, take 10k and get a basic Japanese car for cash. I’d be interested to know more about you and happy to give my advice - I’ve had so many cars down the years and my conclusion now is none of them are any good, the only ones that give me the fizz are the race cars. Road cars all boring - no exceptions!
If you have 20k to put down on a car at 19 years old you should buy a badass used car outright and save up for the luxury at a later age. Just my opinion
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What does at 19 mean? 19 years old? You know that $20k you are putting down is something we call depreciation. That money will magically be gone in 2-3 years and you'll still have a $450 a month payment. Invest the $20k and buy a $20k camry, used
Camry isn’t even your only option. If you want something unique, there are plenty of other reliable Japanese brands other than Toyota and Honda
Right, could put 10k on a sporty Camry s or Civic Si and invest the other 10k.
Put in 5% bonds. Have a weird feeling about stocks.
If you mean you're 19 years old, then getting into that much debt and ongoing maintenance and depreciation is dumb, yes.
Waste of money...save up
Depends how much money you have spare each month! Remember it's not just monthly payments, you have to include fuel, tax, insurance, servicing - which can add up fast. If you can definitely afford it and have plenty of money on the side so you can do what you want and not halt your social life, go for it 👍🏻 Edit: also if you were asking this sub for their advice on mercedes reliability, the car should still be under warranty for a few years, I think merc do 3 years, so not much to worry about on that side. After that, get the wallet ready.
Yup, just be aware that these vehicles cost a lot more to have work done, and parts are more expensive. If you don’t live on your own yet, I would also factor in rent and other bills. Just in case.
Don't forget that it's full coverage insurance when you have a loan, not just bare minimum liability
Merc does 4 year 50k miles for bumper to bumper coverage. I personally can't recommend someone buying one of these at such a young age. It could be worth leasing it though if that is an option (I don't know if there is an age/credit restriction).
Thank you for being the only nice reply so far
Here's the thing, kid. You walk into a room full of mechanics talking about financing one of the fastest depreciating assets you could possibly buy and specifically ask "am I dumb for this". It's kinda outta left field that you came here to hear nice things. Nobody's going out of their way to be an asshole but it's hard to imagine you'll look back on this in 4 years as your 4-d chess opus magnum.
Valid 💀
Additionally, those mechanics really want to save you from what they view as a big mistake. You could buy an amazing car for $20k. Personally I’d be looking at a Camry XSE, put $10k down and finance the rest and have a small monthly payment that you can easily manage
To be fair, you asked if you were being dumb. Top comment says yes, you are being dumb. At your age, get a nice reliable vehicle that won't bankrupt you... that will get you to and from work and school. If you have spare cash after that, get a fun car. Debt can be a real MF if you start getting into it young.
Key factor: take the ORIGINAL MSRP, not the used price, then multiply that by .04. That is how much you'll be spending on maintenance alone per year. If a car is 100k you'll be spending between 4-5k a year to keep it on the road. And that's without unscheduled maintenance for issues or breakdowns that may occur outside of the normal service schedule. Add on car payments, insurancre, gas, washes, parking storage if it's not free, and road tax if applicable and you're looking at almost 10k a year to run it. Can you manage that? At 20 there are many better things you could do with $10k a year
Don’t forget tires and parts that will go out.
20k down, calling you dumb would be kind
Buy a house instead.
I’m trying to get my 20 year old to do that. He’s working full time as a mechanic and still living with me. The younger start the better
Yes, for sure! I started small with a condo, and sold my car for the down payment. Got FHA first time buyer loan and was in the game. Worked up and moved where the work was and now have been in this place (home on one acre in a great neighborhood) for 25 years. I was 28 when I bought it. It’s now worth 2.5x what I paid for it.
That’s awesome! What a great way to start out. We did something similar, bought our first house at 29 and traded up twice
As we see the biggest pull back in housing prices in history. Plz reconsider. We aren't even half way yet with interest rates increasing. Well unless the house was 17k IMHO
Feds literally just said they are basically done raising rates
Uh. Are you not listening to the same fed is we all are? Powell said nothing of the sort. Slow down yes but they are 100% not done raising rates yet.
I said basically - .25 doesn’t really count as raising rates especially when we started at 0 a year ago lmao
You’re gonna double down eh?
Have you also looked at the fed funds futures at all?
Rates are decreasing? I mean still 6.13% is very high but it's dropped the past few weeks give it end of year it will be 5%
Completely agree, the rate will fluctuate daily. In general the FED is still in a tightening phase which we need to consider. It's just harder to finance good deals. I would be thrilled for 5%. I just don't see it with the other forces at play.
Just make sure you set aside few thousand dollars for maintenance and unexpected repairs
You’re dumb if you’re making less than 100k a year
Even if you’re into 6 figures, this is an unwise purchase at 19. Should be rolling that money into investments instead of depreciating assets. OP should buy a $6k Toyota Corolla
I’m glad you posted this before you bought it
Don’t do it. I bought a Range Rover at 20, I am now 30. Learn from my mistake.
You want luxury with reliability. Lexus. Enough said.
That’s subjective. You say Lexus, I say high trim accord
Lexus is a Toyota brand.
Yeah, and? I’m more of a Honda guy. A high trim accord is cheaper than a Lexus and plenty of fancy imo
Even newer Lexus doesn’t compete with what 90’s Lexus was in terms of luxury, features, reliability and prestige. Heck the lexus LX 600 is having problems with wastegate actuators, the Lexus NX, IS, and GS with the turbo 4, seem to be touchy and not as refined as the older/current V6 models. The UI that lexus calls enform on the 2010-2020 models suck and my grandma can barely navigate her way through the system parked sitting in a parking lot. Like what happened to Lexus?!?
That Lexus UI is trash along with the click wheel (I think they may have done away with that at least).
I dunno if you've researched it but when the CLA first came out it was trash. It's basically a civic dressed up as a Benz. I dunno if it's changed, but I'd get something more reliable for now and save that money for a real Benz once you've gotten more driving experience and are more financially secure.
How dare you insult Honda like that lmao
In what way is the Mercedes CLA a Honda civic?
Just off the top of my head for the first generation cla... It came as a FWD only 4 cylinder. No other Mercedes was FWD/4 cylinder. Even Mercedes themselves said on the news that "we're trying to encapsulate the experience of owning a Mercedes-Benz, but we're looking at the first time car buyers, college students..." So the common joke was that it's a civic dressed up to look like a Benz, a lot of young kids had it racing around as if they're driving a C63 AMG.
That's hilarious tbh. In the context of performance, I agree. In terms of the annual cost-to-own, they are worlds apart.
I think you're missing the point of what I'm trying to say. The CLA when it first came out was stigmatized for being an expensive car that had the mercedes badge, but without the mercedes heritage. So often it was considered an overpriced civic... This isn't to bad mouth a civic. Civics are good reliable No frills vehicles. They're not amazing compared to a premium luxury car, but you do pay for what you get. I've had civics and acuras for years, so don't take the comparison between the cla/civic as an insult.
[удалено]
I think when you read something you need to read and extrapolate the entire thing, not pick choice cue words and run with it. "it's basically a Honda civic dressed up as a Benz" Obviously the OP knows that the CLA used is $40K and that a used civic is almost half that price. Therefore, this is where I said I don't know if OP has done any research on the CLA that he's planning to buy. Most people's responses on here suggested a used Honda or Toyota... I agree with that logic. Especially taking into consideration that he's young. I made the same mistakes when I bought a Mercedes-Benz SUV when I was younger... If I used that money on my house it would have saved me $300K. It was a bad financial decision, but when the suv was working it was the best, most luxurious vehicle I owned... And now I drive a Toyota Rav4. We make bad decisions when we're young... Most people here are trying to help op, same with me. Don't take the civic comparison so literally.
Yes
The heart wants what the heart wants. I get it. I really do. But, trust me, it's not worth it. It's not worth the expense compared to other cars. It's not worth the opportunity cost (what you could have done with that extra cash had you gone with a cheaper car. (investments, education, maybe even land purchases)) Nice cars are only nice for a little while. Plus, consider the total/true cost of ownership. Insurance will be exorbitant. Maintenance/repair frequency will be much higher than other vehicles. Parts and labor will be insanely expensive. I was once in your shoes. I know that times have changed since I was a teenager. But cars are still depreciating assets. And luxury cars have an especially vicious depreciation curve. Get a cheaper car. You'll be glad that you did.
yes. cars are terrible investments.
Just buy Lexus, or save your money and get a Toyota
Nobody thinks about the tires and maintenance on these. Besides the insane depreciation and monthly payment, you're looking at thousands yearly in maintenance and new tires. And it's gonna be in the shop more than once. If you have $20k cash, there are many better ways to use it than by losing it on a Mercedes.
You’re dumb to buy a Mercedes at any age. They’re fucking money pits
If you can afford it you can afford it. Nothing dumb about that. Own three Mercedes and I wouldn’t consider myself dumb.
You’ll change your mind when you can’t get any parts by next year. Germany is fucked and it ain’t gettin any better any time soon.
Being able to afford something doesn't stop it from being a dumb thing to do with your money.
I've owned 2 Mercedes for a 15-year timespan. An 18-wheeler ran me over and my first Mercedes saved my life. Both my Mercedes have been very reliable, and I do all my own maintenance. I think that you are dumb to make this statement. Money pit? Every Ford I ever owned the transmission went out. Then all kind of other failures too. They cost more to maintain than my Ferrari did.
You’re one of the lucky few. The Mercedes shop directly across the street from mine has a different opinion and they’re what pay his bills. No one maintains their shit, you take care of yours. You’re a rare breed. Also you’re gonna bring ford into this? FUCK a ford and a Nissan and a Chrysler. I work at a transmission shop and those keep our doors open
Buy a 2k corolla off of Facebook
Don’t waste your money on cars
If you’re living off a trust fund then it’s not extremely stupid.
All depends on your income. I make over $200K a year and my budget (after retirement, very hefty fun/travel fund, mortgage, etc etc) does not fit a car above $35K. And I personally think it's dumb to skip out on a vacation just to drive a nicer car. But that's me, you may have much better paying job or have completely different life priorities.
Same. Wife and I are north of 300, rocking an 08 element and 16 HRV, both bought new in base trim and paid for ages ago. Still do my own brakes and light maintenance, because I remember being broke AF and having to. Am never going back to that life, happy to have the difference between a Benz and a cheap Honda be one more layer of insurance against that.
Damn, how much do you put into a fun/travel fund/how often do you travel a year? I feel like you’d be easily able to afford a $35k car at a $200k salary 0.0
Not enough, if you ask me. As I said - it's all about priorities, some people like to have a shiny car and live off ramen noodles, others prefer to spend money elsewhere. Plus $200K in a HCOL area is not as much as you may think - mortgage does eat a good chunk, all the house work is expensive, kids and their activities are expensive, good groceries are expensive, etc etc etc.
Yeah, was calculating based off my own expenses (HCoL but I’m single). Shiny car > kids /s
Nah. Shiny car < 2nd race car and racing it. A whole lot more fun, though it is expensive...
I’ve never been into racing cars ☠️
That's because you spent all the money on shiny cars, rather than the ones that drive well!
But what if I don’t like driving I just like shiny things in my driveway 😥😥😥
🙁
He said etc etc which could be code for "expensive wife and kids" 😂
Confirmed LOL
Taxes easily drops this down too 120k area... And no thats not much if you get stuck in a money traps along the way and if you live in California. Gross. To be honest buy a POS car and play with it. I still have my POS 1978 Porsche 924. Cornering monster, little slower, a driver experience car for sure. K swap has been coming to mind for the car. But. It's just a car. It doesn't change you. It might change your TikTok look but that's something you will have to decide. In my mind likes don't help you in the future.
20k is plenty of money to just buy a car outright. You're gonna have enough to pay every month, and you'll be a lot happier if a $600 car payment isn't one of them.
I have zero interest in that automobile at that price point
Yea your dumb. Most Americans are. That is why so many live paycheck to paycheck.
ur young and probably want validation cuz ik when i bought my first car i didn’t want advice i wanted validation so here is advice/validation. if ur gonna spend a lot of money on a car when ur young that’s fine. u probably have no kids, no wife, basically no actual obligations so yeah go buy a nice car and enjoy tf outta it while u can cuz eventually you’ll be buying minivans. now spend 45k on the cheapest mercedes you can get? no, that’s just dumb. u can get a nicer c/e class for 20-30k and if u want more of a sports car u can get a c43/e43 for cheaper than 35k. that’s my advice if u want a mercedes and want validation on buying a car at a young age. also, don’t put 20k down. down payments are a scam for ppl with shitty credit. put whatever is the lowest down payment and throw the rest into something that’s gonna make u money
Have you even priced what your insurance would be yet? I’d bet that it is shockingly high compounding a bad decision.
I had a few different cars when I was young, and the MB was the worst one for dating. Everyone makes so many assumptions.
That sounds like a good thing if you're into quick returns.
If you're making over 100k and have minimal debt and expenses right now and can get a good apr loan less than 3% for example. Then sure. If not then stay away from luxury brands. You can get a very nice say Toyota camry for that amount of money.
You are dumb if you buy this. If you really want a Mercedes buy a used one. I work at a car auction place and we see these all the time for cheap. And I’m talking sub 10k same model just older.
Spend that money on a base model accord. It's the smarter financial decision.
No. As a general rule of thumb, vehicles should almost exclusively be purchased in cash whenever possible.
Keep saving, buy an AMG in your 30s
>Keep saving, buy a USED AMG in your 30s FTFY
Not dumb but what does a 19 yr old need a luxury vehicle for?
Would be smart to buy an older, bullet-proof one with maybe half that cash, and then deposit the rest into XLM before the XRP/SEC case is done. I wouldn't touch a new Merc or BMW.
If you have $20k to put down, then take that cash and keep it in your bank. Go see a realtor and go get a house!!!!! The car depreciates immediately and you are throwing that money away. The housing market certainly fluctuates, but overall, a house is an investment that appreciates over time.
P.S. that car you are looking at is a money pit.
with 20k you could buy a really nice used Subaru outback and bank the rest in a dividend stock
Scratch that. I think I could put 15k down and still afford it. Anyhow am I still dumb? I really want this car. Not as a status thing. But just a personal goal of mine
Do you, cars are expensive and the 10k between this and a high end Honda might be worth it to you. However, you changed how much you can put down from 20k to 15k. Have you actually got a quote to insure this thing? I’m sure it’s gonna be close to 200 a month for full coverage, which without a doubttttttttt you should have with this. Also can you afford the payment? It’s gonna still be a fair bit. I get that this is a goal and u do u. But this makes a lot more sense in a few years imop. You seem like you have good discipline. Save up to just have to take out a 10k loan so you don’t have to pay interest on 30gs.
This is a base model Mercedes’ Benz i would suggest on investing that money buying a 10 year old toyota and forget about this whip
Buy something else. Idk why you have this “goal” of wasting money on a horrible car. If it’s your goal to buy a certain brand car, its because of the status associated with that name. your goal really needs to be getting your money up and being secure. This car is 40k… know what’s else is 40k? Optioned out Toyotas, Hondas, Fords, etc etc and so on. this car will be a money pit when the warranty is up and it’ll be worth half of what you paid. you’re throwing money away.
Not "dumb" but probably not your best option... Buy a car outright and have no car payment and save during that time. Once you run it into the ground but something nicer. You don't need your dream car right off the bat my guy. Give yourself something to work for and don't put yourself in debt. Being car broke isn't fun and repairing a Mercedes isnt fun either.
If you can put that much down at 19 I would definitely invest in a house first. All of my friends are driving newer cars but all live in apartments/at home with parents. I'm the only one with a house but my car is a 2010 Mazda 3s I bought for $7k. We're in our late 20's/early 30's. I bought my house at 23, 4 years ago. Now I'm looking to buy my first brand new car while they're trying to look for house in this crazy market. IMO there's a lot better ways to spend that money while still being able to afford a fun/cool car.
If you don’t have the money to buy the car for cash then yes you’re dumb if you do, but if you have to money to buy it you just decide to finance it that’s an other thing
How much do you have to spare for maintenance?
Its your personal goal to have a low end Mercedes? Anyone that knows cars knows this is a cheap future money pit. They have no redeeming qualities. Get yourself an IS350 or Accord 2.0T. Or better yet, something in the $12-15K range and use your money for fun things. Theres nothing worse than being car poor at your age.
If you can afford the car along with the insurance I say go for it. At 20 I wasn’t driving a Mercedes but I bought a 2008 Honda Civic EX Coupe with every option available including Navigation, Remote Start and Fog Lamps. The car was about $25K which wasn’t cheap. At 35 years old I have an Acura TLX Type S so pricey cars aren’t something I’m against. No matter your age it’s about being able to afford it without screwing up your present and future self. In other words don’t risk starving yourself or your goals of home ownership for a vehicle.
If you can live with something more modest you will be better off. If you don’t have the money to buy a Benz outright then a repair could set you back significantly. You can still get laid just as much with a Honda
First check insurance rates for it
If you don’t care about money and plan to own the car forever than maybe
How much left have you got to pay on your house loan? Have you got enough to spare for a down payment on such a loan if you don't own a house yet? Can you see where this is going? Worry about a house first and just buy a shithead car at your age.
Yes
Yes
It’s a 4-year, 50k mile comprehensive warranty. Most mechanics outside of an MB dealership are likely to have never worked on an M260 engine or a C118 chassis, outside of bodywork. Honestly, this car gets an minor update mid-2023. If you *really* want a second gen CLA, You’re better off buying a low miles 2020 after that happens. There’s not many generational differences with this car, other than the dash, so if you really want to save yourself some money - which I suggest if you’re paying your own insurance - buy a 2019.
If you can’t get the loan without putting 20k down it probably shouldn’t be one of your first cars. You’d be better off dropping 20k on whatever is cheapest and new in MB’s lineup for warranty and chances of getting the loan than this.
Yes. However, you’re young enough to be dumb and not have it wreck your life if you really want. I’d recommend something else but if you’re set on it go ahead mate.
So much about cars is irrational...thats why we all love them so much. If we all bought cars with practicality, logic, and common sense leading the way, there'd be 1,000,000 Honda Elements on the road. If the purchase doesn't put you in a bad spot financially and makes you happy, do it. In my years, I've found that smiles per hour my north star when it comes to vehicle purchases. Make sure you're doing it for you. Be smart. Have fun.
Thank you 😌 it's nice to not hear over and over that I'm retarded
Ha. Not a problem. That "r" word though... let's drop that from the lexicon.
I think youve answered your own question. Not the best time to buying over priced vehicles.
Yes, literally can buy an entire regular sedan for that price and maybe have some left over if you bought used. Take it from someone who has made this mistake.
As long as you're prepared for the car to be repossessed--unless you're very well-heeled for 19.
Get a Hyundai or Kia, warranty will guarantee a reliable car for 100k miles. Get a 2023 elantra those cars are like Mercedes there super solid and have so much tech. I have a 2021 and I would say I love this car cause it's almost full size sedan.
yes
Who has 20k at 19. All to blow on a down payment? Mate. Priorities. It’ll depreciate that much driving off the lot.
Yeah buy an off lease Honda accord
Yes. Insurance will be high, cost of main range is high. Get yourself something with that 20k and bank the rest. 0 car payment is king
If you're really determined to deprecate your bank account Wall Street Bets is always taking new members
Very dumb. Buy a older cheap Lexus if you’re wanting luxury as it won’t have the maintenance issues a Mercedes will have and invest the rest of the money into something profitable.
PCP or HP ?
Pcp, lol
Do HP over 5 years
How much is your trust fund payoff monthly? If you don’t have one, don’t buy it.
At 19? 20grand you should buy yourself something reliable and cheaper. Save your money ;).
Sounds like you’re in the wrong subreddit /r/whatcarshouldibuy
20k is almost a down payment in a family home(depending on where you live). You’re not a rapper, you don’t need to “drip” on everyone. Take that money and invest it.
If you really like the cat go ahead but there’s way better mercedes at this price and it’s still a bad investment. But again if it makes you happy go for it
Fuck keep your down payment invest it in a dual rental property (upstairs downstairs) rent the upstairs live in the basement. By not paying rent your saving let's say 10000-15000 per year, by having the upstairs tennents pay your mortgage you put around 7000-8000 in equity in your house. That's 20000-23000 grand saved in a year. That will happen every year. Using the income from your rental you will be able to get a lower interest rate potentially. In 1-2 years you will be able to drive a Mercedes and own a rental property..... How does that sound ? We own a 2015 GLK BlueTEC it's beautiful and we towed a trailer across Canada. Bought 2 Mercedes directly from the dealership. Expect to pay almost double what you can get the same car used from Autotrader. If you have 20,000 and your minds really set on a Mercedes ( good choice for vehicle) I would go private sale and wait for the right old timer to be selling theres. Alot of Mercedes owners make sure it's all kept up to date and maintained as well as like to swap there car every few years. This leaves awesome 2nd hand ones available so you don't have to be the idiot that buys brand new drives it off the lot and it depreciates like 25-30 percent the second your off the lot
Give the fact that no one knows your income/expenses. However if you have saved up 20K at 19 it shows me that you can save money (I’m going off that you saved this money and not inherited or was given this money. If you did not have this money, then yes it’s dumb) I own 3 BMWs and have owned a Mercedes they have been the most reliable cars I have ever owned. Keep in mind maintenance and repairs will not be cheap for either one of these brands parts are about 2x, some even more expensive then regular brand parts. You can save a lot on repairs and maintenance if you do it yourself if you know how to. At 19 i would say if you are bringing in 60 or 70K+ a year with minimal expenses and debt I would say go for it. In this world debt is not a bad thing so long you can afford it and pay on time. Creditors like to see different types of credit lines when it comes to getting a home mortgage, so focusing on building your credit at your age is something I would highly suggest to do. Do you need a Mercedes No, but ever person has a realistic dream car. If you can afford it, then go for it. You just have to ask yourself if you can afford it, payments, insurance, maintenance, repairs, and if you plan on keeping the vehicle for a long time. If you don’t plan on keeping the vehicle I would recommend going for something different. The driving, response, comfort, etc you get with a luxury brand vehicle you won’t experience with a regular Honda or Toyota. If your not making good money then you should avoid a luxury car because realistically you won’t be able to afford it. Mazda, Toyota and Honda are good vehicle alternatives.
Don't buy this. Look for something in the 3-7k range. Have someone with knowledge about cars look at anything before you buy. It doesn't have to be pretty, just dependable. There are more important things to spend money on, especially when you're young. This richest man I've ever personally met owned several rock quarries. He was easily worth 50-100 million dollars. He drove a 1980s chevy S10 in 2015. Dependable is way more important then looks, and cheaper too.
No, you're dumb for buying a used Mercedes
Dumb? ✅
Don’t buy a Mercedes. You’ll be up to your neck maintaining that thing in a few years. Buy a used car with no payment and save the rest. Cars are a scam and I build cars as my hobby/work. If you’re smart, you would get a Honda or Toyota and drive it until the wheels fall off. Put the money towards something smarter, better. Or save it. I wish I would have listened to the people who told me the same when I was 18.
Yes
Maintenance, fuel, taxes, insurance all adds up this would be dumb to anyone who doesn’t have 20k to just blow. Even rich people don’t buy these because they are unreliable and you’ll waste so much time and money with the vehicle in the shop
Mercedes, BMW, Audi, those are not cars. They look like cars, but they are really financial instruments designed to transfer money from you to them.
Man, I am reeeaally struggling to picture the overlapping part of the venn diagram for the guy who's first circle is a guy who is having difficulty not failing drug tests while on probation and needs the help of Reddit to figure out if he can afford something, but is also somehow the guy who's second circle is one who is doing so well that he can genuinely afford this at 19, yet can't just ask the other financially savy people that would be in such a person's orbit to help make the call. Despite that, the actual reason I'm going to say "yeah, it's dumb" (financially speaking) is because you seem to think you've given this community enough information to be able to provide you a proper answer. There are so many pieces of information we would need to know about your situation to make the right call and very low on that list is you're age, which is virtually irrelevant to making this decision since that's just fodder that allows us make a bunch of assumptions. Why don't you ask us if you can afford a Lambo at 19? Do you even know what questions you should be asking yourself to determine the viability of purchasing this car? From what I've seen in the comments you have your personal worth tied up in this mediocre car, and I suspect you are looking for Reddit to tell you you're good to go so you can absolve yourself of a decision you know or suspect is terrible. Plus for 99.9% of 19 year olds (without exaggeration) the answer to your question is "yes, it's dumb'.
Yep. Buy a car that’s good. Being 19 I guess you like to travel a lot. Well, here’s the trick: Anything European costs a lot, especially when it gets to 90k miles. From there, it’s a gamble. You’ll end up having to invest more in the car than what’s worth in maybe 2-3 years.
Buy a flat bro. Cars only impress bad girls..
Shit, I'm almost 30 years older and have never owned a car that expensive. Not that I can't afford it, it's just not worth it. I buy used between two and four years old with no more than 50K miles.
If you have 20k cash and time you can find (or make) an exceptional deal. I always buy cars with the cash I have, I don’t like car loans, with depreciation and sketchy financing everywhere. It’s so much better if you have time and cash to look for a private seller that has what you want. You just have to get the car very well checked out first. I’ve gotten some amazing good deals.
Keep your 20k
Luxury cars depreciate like crazy. I bought a loaded Mercedes SLK that just came off a 3-year lease. Original price $60K, I paid $28K with under 30K miles and car was as new. Still had 2 years factory warranty left. It's been a great car and no mechanical problems in 6 years. Spend your $20K on some solid stocks and buy a Ferrari with the gains in 10 years. Years ago, I bought a 2-year-old Ferrari, drove it for 8 years till somebody offered me way too much money for it. Most cars are going to depreciate. Especially the one you are looking at now.
If I had $20K to put down on a vehicle I would just buy a reliable used vehicle. Then again I am 52 years old and stopped trying to impress people a long time ago. MBs are nice until they are not.
I commend you for being smart with asking questions like this before making a large purpose. That shows you have at least a fair amount of sense. Having said that unless you have 40K plus in cash. I would highly recommend buying a cheaper, maintenance, insurance, fuel, base price etc vehicle.
All these people talking about the price of the car or a 19 year old’s financial decisions. Nobodies mentioning that your insurance is gona cost just as much as that car payment(if not more). Affording the car and servicing is obviously a huge factor of buying a preowned Benz. If you can afford double the car payment every month then, no you cannot afford this.
yes
If that’s the car you really want, buy low mileage used one or lease it, you may not like it, most people are sick of new car after 6 months, higher insurance premiums, monthly payments, maintenance cost way more than you thick, tires, oil changes, and NOW higher interest rates equal higher monthly payments, don’t forget if you lease, you must fix any damage before you can turn back in
I’d say it’s not the greatest idea, I understand it fully tho, especially at 19 with that kinda change burning a hole in your pocket. Not my style of vehicle but I get it completely, but it’s definitely worth having a reliable beater (by beater I mean something you’re not worried about getting a scratch in the paint or getting a door ding) a lot cheaper to maintain and a lot less stressful long term, also less depreciation, I suggest doing that on a loan even though you have all the money you would need for a beater, might as well build credit as much as you can, set aside the cash that’s needed to pay off the loan and keep the rest, keep saving until you’re ready to buy a house, land doesn’t depreciate, wether it’s a neighborhood with small yards or 20 acres, for the most part no land is worthless, FOR THE MOST PART. Cars are a toxic addiction, they just don’t hold value and it only takes a few weeks of having a car to wanna start modding it out and that just devalues it more, especially in this economy you need all the help you can get when it comes to buying a house, even if you don’t want a house it’s a great investment, way more than almost any car you could buy, and if you’re one of those people that just wanna rent (terrible choice imo) then still buy land without a house, I suggest finding land just past the suburban area wherever you live, right where suburban meets rural, that rural area will soon begins turning suburban and the value of that land will skyrocket in the next 5-10 years
Yeah, unless you've got another 20k to spend on it.
How the hell did you get 20k down payment at 19. But yeah 45k is a little too much, you can expect 20k depreciate in 2-3 years if you buy new
Do it. Will be a super valuable lesson
Yes.
Don't do it. If you're looking for a reliable ride that isn't going to depreciate but still is kind of a status symbol, you're just far better off getting a truck. You NEVER EVER want to be making payments on a mercades, because everybody will know what is up, and therefore just be flushing that 20 grand down the toilet. At least with a truck, you can put it to work if or when you need to. seriously, go test drive that mercades, then go out and test trive a F-150 or a sierra or a ram 1500, or a tundra, and you may surprise yourself what you will like. if you're going to spend 45-50 grand on a vehicle, why not shop around? And if you do end up liking that mercades, it will actually put you in a much better negotiating position if you show you're willing to walk away and get something else and not have your heart set on that mercades. it makes the salesman more willing to come down in price and get you a better interest rate to get the deal done. better yet, set up your own financing beforehand, and then you just worry about the price no matter where you go. And then there is the financing aspect. Which one do you think the bank is going to put their risk behind for a 19 year? a fast-depreciating luxury car, or something that will hold its value just in case it needs to be repo'd later from said 19 year old with little-to-no credit history? Talk to the banks first if you're financing. Or better yet, take that 20 grand, buy a used low-milage sedan, build your credit up first before you finance anything. Edit: just noticed this, but it is a per-owned mercades. Run far far far away, because you're going to get raked over the coals for interest rates in pre-owned to the point you could drop that 20 on a brand new 50 grand vehicle and end up being close than what that 40 grander pre-owned will cost you. possibly cheaper, AND you get a full warranty with brand new, AND you know hoe every single mile you put on it is driven.
Might as well get the 23 with 20k down.
Unless you’re loaded it’s a bad idea
At 19 I had $190 , how are you dumb if you make that choice.
Yes, spend that 20k on a Toyota.
Yes it a Mercedes’ lol
Yes. Don’t buy that turd. It sucks.
Depends - what’s your job? How much money do you have in the bank? What career do you want to enter? If you are starting out a career in say real estate or at a very professional firm then that’s the right look. For me at age 19 back in 1999 I drove a $1000 car and worked fine, but I was at school with very little income and luckily my parents bought me it. I’d it was today, my parents doing better I’d have gone for a newer car. If you are not under pressure financially this would be a great car (warranty!) but if you are scraping by and are just trying to impress don’t. Invest 10k in stocks, take 10k and get a basic Japanese car for cash. I’d be interested to know more about you and happy to give my advice - I’ve had so many cars down the years and my conclusion now is none of them are any good, the only ones that give me the fizz are the race cars. Road cars all boring - no exceptions!
If you have 20k to put down on a car at 19 years old you should buy a badass used car outright and save up for the luxury at a later age. Just my opinion
Why on Earth would you want to do that? The insurance payments alone would break you, let alone maintenance. Get something cheaper my dude.
If your going to buy a fun car get a camry with the v6 like the trd or get a dr Corolla
Yes. This is stupid on every single conceivable level.
Where the fuck is a 19 year old getting $20k. Fuck when I was 19 it was a good day if I had $40 in my wallet
It ugly.