Leasing vs Buying A New Car
William Jenkins 
I'll buy getting my first new car ever after driving a used car for 20 years. I want to buy a $40,000 Mercedes.
I was planning to buy it/finance, but some people said maintenance would be costly. I only put 5,000 miles a year on my car.
Tips?
Thanks
| by Anonymous | reply 138 | May 17, 2019 2:15 PM |
Leasing a car never, ever makes sense financially. That said, neither does buying a new car. New cars depreciate on average by 20% the moment you drive off the lot.
Your best bet is to buy a slightly used (three to five year old) used car. If you must insist on a Mercedes, but a certified ore-owned example. But from a long term reliability perspective a Lexus will be much more reliable.
| by Anonymous | reply 1 | May 8, 2019 1:45 AM |
A new vehicle will be covered by the warranty for major repairs. Yes, there will be maintenance like oil changes, brake pads, etc. but you’ll be paying for it whether you lease or buy. You can even roll it into the payment. Lease payments are generally lower than finance payments. Though I wouldn’t expect much from a luxury brand if your budget is only $40k.
| by Anonymous | reply 2 | May 8, 2019 1:47 AM |
I always remember Suze Orman saying leasing a car was one of the stupidest things you could do.
| by Anonymous | reply 3 | May 8, 2019 1:49 AM |
It is better to buy a high quality used car (pre owned) and get an maintenance warranty. But, this is for more reliable makes and models, which a mercedes is not.
| by Anonymous | reply 4 | May 8, 2019 1:50 AM |
You can probably get a low mileage two or three year lease with nothing down and scheduled maintenance included. The best part about leasing is getting a brand new car every two or three years. Technology is evolving so fast I wouldn't want to drive a car that was older than three years old.
| by Anonymous | reply 5 | May 8, 2019 1:55 AM |
Enterprise's New Subscription Service Lets You Swap Cars 4 Times a Month for $1,499
Offsite Link| by Anonymous | reply 6 | May 8, 2019 1:57 AM |
40k Mercedes screams "I can't afford real luxury so I'll just pretend".
| by Anonymous | reply 7 | May 8, 2019 1:59 AM |
I love how people have picked up the use of "pre-owned," industry jargon to avoid the icky phrase "used car."
| by Anonymous | reply 8 | May 8, 2019 2:02 AM |
At the end of a lease you don't own a car. If you buy, you pay it off in 5 years. If it's the car you want, you can keep it for at least another 5 with no monthly payments. With leases you have a monthly payment forever.
| by Anonymous | reply 9 | May 8, 2019 2:04 AM |
Not necessarily, r7. Some people just refuse to spend that much for a car.
| by Anonymous | reply 10 | May 8, 2019 2:05 AM |
Yeah. $40k is a lot of money for a car -- and is squarely in the luxury market for a sedan. Nobody is going to be overly impressed but nothing to sniff at either.
| by Anonymous | reply 11 | May 8, 2019 2:07 AM |
Certified pre own means that the dealer is backing the car and throws in free maintenance. They are certifying that they will replace the car, if you get a lemon. This is good, as no one wants to buy a lemon, JUNK.
| by Anonymous | reply 12 | May 8, 2019 2:08 AM |
Leasing is for people who want to drive a car that they cannot afford.
That said, do not get an A- or C-class Mercedes. They are unreliable and cheap, despite the nameplate. Go for an E-class or above. Buy the prepaid maintenance (covers up to six years or 60K miles, whichever comes first) when you purchase the car, then, given your annual mileage, you will have the car paid off before you have to pay for maintenance.
Also, do not buy any vehicle in its first or second year after the last redesign or initial launch.
| by Anonymous | reply 13 | May 8, 2019 2:09 AM |
I think Suze Orman also said (aside from don’t lease a car), don’t finance for any longer than 3 years. (If you have to finance longer than that, you can’t afford it.)
| by Anonymous | reply 14 | May 8, 2019 2:09 AM |
R9 monthly payments are always less with a lease. If you're ok driving a 10 year old car, yes buying it is usually they better economic move. But by f you want low monthly payments and a new car every few years, leasing is the way to go.
| by Anonymous | reply 15 | May 8, 2019 2:09 AM |
R14 unless they are offering 0% financing. Then it makes more sense to finance for the longest term possible.
| by Anonymous | reply 16 | May 8, 2019 2:12 AM |
A lot of Narcissists have leased cars because they cannot afford it buy it on credit. The only time you should have/drive leased car, if it is through your company as a benefit. With companies, the lease deal is usually cheaper than long-term rental cars.
| by Anonymous | reply 17 | May 8, 2019 2:13 AM |
I never used to be a believer in leases, but do you remember when the Audi 5000 had that sudden acceleration problem? I knew several people who drove them, and the ones that owned took a horrible beating when it was time to trade. The ones who leased dropped the car off at the dealers walked away whole. Or how about the VW owners who got dragged into the diesel engine cheating scandal a while back? Owners had a problem, but if you leased it was VW's problem.
Cars, especially higher end cars, are so complicated these days that you really can't ignore the possibility that the car you're buying might be front page news in 6 months, and leasing takes that risk off the table.
| by Anonymous | reply 18 | May 8, 2019 2:14 AM |
The key is to buy a highly dependable used car. I just purchased a previous generation Lexus GS for $9200. It has a back up camera, smart key, navigation system and a host of other technologies that debuted a decade ago on luxury cars and have now just found there way into more mainstream offerings.
The car is beautiful and built like a tank. Very high quality throughout. I make $85k per year and could easily lease but it’s a waste. I paid cash for this car, still drive a very nice car and have no car payment. It’s all about priorities.
| by Anonymous | reply 19 | May 8, 2019 2:20 AM |
[quote] [R9] monthly payments are always less with a lease. If you're ok driving a 10 year old car, yes buying it is usually they better economic move. But by f you want low monthly payments and a new car every few years, leasing is the way to go.
Yes, many are OK with it. 10 year old Range Rovers are popular.
| by Anonymous | reply 20 | May 8, 2019 2:20 AM |
At the end of the lease period, you walk without anything. It is basically a yearly rental car. Because of this, the only time you want to lease is if you want to not own a car, in the first place.
For example,
If you are getting long-term rental through your company.
If you are going to live in Hawaii for a year for work/travel, but live on the main land. Too expensive to ship.
| by Anonymous | reply 21 | May 8, 2019 2:23 AM |
[quote]It’s all about priorities.
Isn't everything?
| by Anonymous | reply 22 | May 8, 2019 2:24 AM |
R16 is right. I bought my car with 0.0% financing and took the maximum maturity -- 78 months -- on the loan. I also keep cars, on average, 9.5 years.
| by Anonymous | reply 23 | May 8, 2019 2:27 AM |
I brought a lemon of a car, a jeep used for $4000. I drove that car for 2 years. It was cheaper than a lease. If I brought the used toyota for the same price, I probably would still have it; but no, I wanted a jeep.
| by Anonymous | reply 24 | May 8, 2019 2:29 AM |
I like used cars because it just transportation. If someone opens a car door in to it, who cares. Someone hits you, who cares.
| by Anonymous | reply 25 | May 8, 2019 2:33 AM |
If you do not have money to burn, do not invest is a new or leased car. The only value in a car is a basic transportation.
| by Anonymous | reply 26 | May 8, 2019 2:35 AM |
This is probably an unpopular opinion, but if you plan to keep the same car for a long time, buy it new. Yes, there's depreciation, but you will have a clean car and will know its history (e.g., never got into a crash, etc.).
| by Anonymous | reply 27 | May 8, 2019 2:38 AM |
[quote]At the end of a lease you don't own a car. If you buy, you pay it off in 5 years.
Yes, and you will have been making higher payments on the financing than with a lease payment, and when the loan is paid off, the vehicle is worth a fraction of its original value.
[quote]If it's the car you want, you can keep it for at least another 5 with no monthly payments.
After five years, it's likely out of warranty and possibly becoming prone to issues which could be costly.
[quote]With leases you have a monthly payment forever.
And you have a new vehicle with the latest technology, safety features, and comforts, as well as constant warranty coverage.
Plus, selling a vehicle is the worst and you're very likely to get fucked on a trade-in.
| by Anonymous | reply 28 | May 8, 2019 2:39 AM |
Yeah, getting an old German manufactured car is probably not a wise move... they tend to need a lot of expensive repairs. Buying a reliable used model is definitely the way to go. However, when my car died, I didn't have the luxury of shopping around so I just ended up buying a cheap $26k Corolla (cars are so expensive here!). I don't drive much, so hopefully it'll last me 20 years.
| by Anonymous | reply 29 | May 8, 2019 2:41 AM |
Leasing is for Narcissists who cannot afford their Bullshit image.
| by Anonymous | reply 30 | May 8, 2019 2:42 AM |
I do like luxury cars (specifically, for the comfort and the wiz-bang gadgetry) but I haven’t bought a new car in 30 years. I always go for 2-3 year old cars. I just refuse to pay the markup.
| by Anonymous | reply 31 | May 8, 2019 2:50 AM |
I have a 2017 Prius that I love, fully loaded and less than 3,000 miles, which I bought used. It is fully loaded and I think that because I bought it at an Audi dealership, I got a great deal. This car was easily $10k more buying a similarly equipped one from the Toyota Dealer. And yes, I have 3 years, 36,000 mile coverage and roadside assistance. With leasing you are just throwing out money.
| by Anonymous | reply 32 | May 8, 2019 6:31 AM |
I just bought my 4th car in the last 30 years. (Yes, I'm old.) So my first three cars lasted, on average, 10 years each. I had two three year loans and one four year loan, so I only made payments for 10 of those years. Sure, I also had to pay for repairs and maintenance during the non-payment years, but that amounted to far less than a new payment.
Personally, leasing makes no sense to me. I suppose it could make sense for someone who travels a ton, and their car might not last long. But my last car was 12 years old with 200k+ miles. So it's not like I was just doing local trips.
But here's my recommendation: do whatever you want. If you make a decision based on the advice of a family member or friend, there's a good chance you'll spend time regretting it, thinking about "I wish I had done 'x'..."
| by Anonymous | reply 33 | May 8, 2019 8:21 AM |
I bought a new VW because my 3 year old car was going to hit 60,000 miles (cutting the value in half) and was out of warranty. It comes down to priorities and that most new cars have bumper to bumper coverage that keeps you from spending a fortune. Repairs don’t follow a budget or calendar!
There are certain times of your life it makes sense to buy a new car- it’s part of an experience, you only live once, if you can swing it and it makes you feel good, do it! Spending is part of a bigger picture of saving and making and meeting financial goals. I’m going to be 50 in September and this is the last production year for the Beetle.
Offsite Link| by Anonymous | reply 34 | May 8, 2019 8:54 AM |
R34 Congratulations, and good luck with your new Beetle. Is the color you chose the one in the above picture? That is a beautiful and soothing looking silver/ blue color
I owned two brand new Beetles. A 71, and a 72. $1650/ 1800 respectively. I should’ve kept them both. What did I know back then, right?
| by Anonymous | reply 35 | May 8, 2019 9:42 AM |
$40,000 buys you a C-class Mercedes. The OP is thinking of leasing. Enough said.
| by Anonymous | reply 36 | May 8, 2019 10:45 AM |
R36 - Where did you read that the OP is thinking of leasing?
The OP stated: “I was planning to buy it/finance, but some people said maintenance would be costly. I only put 5,000 miles a year on my car.”
| by Anonymous | reply 37 | May 8, 2019 10:59 AM |
Yes thanks, it’s “stonewashed blue” like the photo. Leasing only makes sense if you are using it for your business and can write it off. I bought my Final Edition Beetle hoping it might be a collectible one day, but also because it’s a fun car!
I also guess nobody’s going to be especially looking to pay top dollar for a combustible engine-based auto that can’t drive itself10 years in the future unless it was something a collector will be interested in. It’ll be all hybrids and electric by then.
| by Anonymous | reply 38 | May 8, 2019 11:25 AM |
R37, did you see OP's poll? Lease or buy.
| by Anonymous | reply 39 | May 8, 2019 11:37 AM |
It's hard to "win" with a car ever (unless you win the Showcase Showdown on the Price is Right of course). Get a car you like and can afford, and pay for it in the way that makes sense for you at the time (while leasing doesn't give you anything of real value at the end of the term, "buying" a car is hardly ever a value investment either).
BTW, I'm leasing a 40K Mercedes myself, the GLA250a. It's my starter Mercedes, trying to learn about the brand, see if it's for me. If I love it as much as I love the Honda CRV that I bought new and drove for 8+ years, I might keep it beyond the lease, or buy a new one when my lease ends. Or I might just go back to Honda.
| by Anonymous | reply 40 | May 8, 2019 12:08 PM |
If you're looking at a Mercedes then you want to lease. Clearly, you want to drive a "luxury" car and enjoy your ride. The thing is Mercedes and comparable brands (BMW, etc.) don't reliably make the kind of long-lasting, high-quality cars anymore that are great investments. In a few years, the technology will be totally outdated, your car could be prone to all sorts of minor issues that nonetheless are a big headache to deal with (and to find a reliable garage that will not fleece you, if you do want to pay the exorbitant dealership prices). In the old days (pre-mid-90s, say) when these cars were made with more care and built to last, I would say - buy - it's a good investment, even if it depreciates in value. But I just don't think quality control is there anymore to justify buying. Lease monthly payments are lower, if there are any issues the dealership will handle it, and in a few years (or less) you can move on to the next hot car that interests you that will have the latest infared navigation climate 5G whatever features.
| by Anonymous | reply 41 | May 8, 2019 12:36 PM |
After you buy it, be sure and tell everyone how much it cost, like you did in the post. People who share how much their purchases cost are always fun.
| by Anonymous | reply 42 | May 8, 2019 12:40 PM |
R42 is a bitter queen who can’t pass a driving test. (Written or road)
| by Anonymous | reply 43 | May 8, 2019 12:51 PM |
Are all maintenance costs covered by dealer under 3 year lease?
| by Anonymous | reply 44 | May 8, 2019 8:57 PM |
Depends on your financial circumstances.
If you have some level of disposable income (which it seems), why not lease first and decide if the luxury is worth the price tag? I've never had truly disposable income until now and in a few years I will actually be even better off when a significant debt is paid in full (graduate school loan).
I have never owned a luxury vehicle (think Hondas, currently a Prius). A luxury car will always be expensive - purchase and maintenance. When my Prius is on its last legs or gets totaled (as my last Honda was), I've decided I will lease and see if the feel of luxury is worth it.
I'm sure it'll be like a dream the first 6 months, but after that it may be like so many other purchases that no one really cares about it - yourself included.
| by Anonymous | reply 45 | May 8, 2019 9:14 PM |
I lease a fairly expensive car. I like to get new cars every 3 years because the tech is always evolving. A decision I made with complete disregard for the economics involved. I didn’t have a car for 15 years and only have one car for my family of 5 so I feel like I can splurge a bit now.
You could always lease with option to buy.
| by Anonymous | reply 46 | May 8, 2019 10:02 PM |
There can be tax advantages to leasing in many jurisdictions if one meets the criteria for 'business use'.
If one absolutely *must* have a certain model with unusually poor resale value, a top of the range Land Rover for example, after 3, 4 years of normal ownership one is unlikely to have any equity in the vehicle whatever anyway and a lease may make some sense.
It is also somewhat ideal in my opinion to have a new vehicle every 3 years without the hassle of selling ones old one.
| by Anonymous | reply 47 | May 8, 2019 10:03 PM |
[R32] how much did you spend on your prius? I am thinking about getting pre-owned one too. Also, what upgraded do you have?
| by Anonymous | reply 48 | May 8, 2019 10:08 PM |
I’m driving a 13 yr old Toyota Highlander. I love it, been great. It’s at 130K miles and I Typically put less than 10,000 miles a year on it. Everyone says it will last to 200 K, but things start going, motors in the windows, etc. The problem is that looking back the last five years, I’d love to take a long road trips but I am always nervous something will happen because it’s an older car. I also dread trying to get a good trade-in value and haggling. Im not good at it. Also, I’m not sure what car I want to invest in. I usually keep my cars for a long time and I don’t feel like committing right now. I am considering leasing for two years maybe Honda CRV. The reasons for this are that I’d like to take some trips and not worry that my car is going to break down and fret about what to do. So I think I’d be paying for peace of mind and Freedom from a long-term commitment, because I typically keep my cars 10-12 years. I have money saved to put a hefty down payment down or even pay in full, but that would be all my savings that I’d rather keep liqud at this point. Economy is shaky and I don’t trust it right now. In a way I feel like being single and whoring around a little bit with young car, instead of committing to a car..
| by Anonymous | reply 49 | May 8, 2019 10:18 PM |
Cars are never a good "investment" in the true sense. It depreciates literally the moment you drive it off the lot.
If you want a luxury car, you are not looking for a good investment. You are looking for an expensive toy.
So the better question to ask yourself is how much do you want (or can squeak out) to pay for that toy? How long do you want to pay for that toy? How many are you willing to pay for that toy? Seems like you aren't sure.
Like R49, whore around until you know what you want and don't. Otherwise, you'll be like the 18 year old virgin who marries the first man who puts a ring on her finger.
| by Anonymous | reply 50 | May 8, 2019 10:45 PM |
Since your mileage is so low (5k mi./yr.) you may be better off with the less expensive lease. Unless you know you’ll keep the car for 10+ years.
| by Anonymous | reply 51 | May 8, 2019 10:52 PM |
Stay away from A and C class MERCEDES-BENZ. The maintenance cost are crazy and the quality is not what you would expect from a MB..If you really have your heart set on a MB..look for a certified pre-owned 2 year old high end model. Maintenance will also be crazy expensive but it will be of superior quality.
| by Anonymous | reply 52 | May 8, 2019 11:02 PM |
I like my C-class Mercedes, r52, but I drive only about 5,000 miles a year, and I paid way under the market value for it (heh, I “knew” a dealer). But yes, maintenance is pricey, even though it’s 8 years old. My next car will be an E-class, I think, but I’m not in a rush since I don’t drive a lot.
| by Anonymous | reply 53 | May 8, 2019 11:15 PM |
I bought an Audi in 2010 and besides the regular checkups every two years (oil change etc) I haven't had any problems or additional work. The quality of German cars is simply amazing. I also only drive less than 10,000 miles a year. Best value for money so far. I had a Toyota before that and the car was basically a piece of shit. Very unreliable and huge additional maintenance costs.
| by Anonymous | reply 54 | May 8, 2019 11:20 PM |
Ever since I was 17, I buy a good quality used car for $6k or $7k then each week I set aside $20. At the end of seven or eight years I sell the old car for whatever I can get and use the several thousand dollars I've saved up to buy a new used car. I've only owned four cars in my entire life and I'm 47.
| by Anonymous | reply 55 | May 8, 2019 11:28 PM |
You didnt really give us enuf info to evaluate..............if you owned a used car and had it 20 years then owning a car is best. If you only owned used cars for the last 20 years and trade in a lot.............. then its a toss up.
I leased once. It was a 2 year lease for a generic chevy malibu for $236 a month. Nothing down. 10000 miles a year . I had to pay a $395 departure fee after the lease because I didnt buy the leased car or lease another one. This is pretty typical of all leases. I did not get dinged with excess wear and tear or excessive mileage but its really easy to do if you dont take very good care of the car. I was in a cash crunch at the time of my old lease and I sold my old car and used the proceeds to pay my tax bill that year. So for me it was a financial maneuver.
Once I got on firmer ground financially, I put $10000 on a new car and looked for several months on line and got a hell of a discount on an end of year model. My credit score was high and with such a largee down payment my monthly car payment is only $274 and I have an interest rate of 2.3% which is pretty low.
TO me the best way to go is buy new, put as much down as you can...trade in after 4 years when the warranty is up. I also research the hell out of prices and deals and I lock in the price from the dealership before I ever step foot in the place...all on line. I make them confirm in writing the details. I get a cash offer price from carmax before I look for a new car so I know what my min amount would be on my old car and in all cases the dealerships where I buy my new cars have beaten the price I got from car max on the old one.............I also get approved for a car loan before I set foot in the dealership so I dont get screwed on shady dealership financing which can happen.
| by Anonymous | reply 56 | May 8, 2019 11:29 PM |
Folks here think OP is looking for a good buy. I'm not so sure about that.
Methinks he wants to spend money, not save it, in buying a car - but he's not sure how he wants to spend it.
R56 Your car buying experience is rare. Dealers always manage to bait and switch, even if you have it in writing. Even if they give you a specific model number. There is always some markup or last minute change. I will give you credit for the pre-approved financing - especially if it is with a credit union who almost always has the best rate around. That's the only reason I keep a nominal amount in the university credit union I opened when I was an undergrad decades ago.
| by Anonymous | reply 57 | May 8, 2019 11:34 PM |
Leasing is silly. It is just made to attract the very consumeristic buyer who always has to have the newest thing. It's a godsend for them, you never own anything, constantly pay them money.
| by Anonymous | reply 58 | May 8, 2019 11:34 PM |
Given the advances in electric technology being made, I'm afraid to purchase a combustion engine vehicle now for fear its value will drop precipitously at some point.
| by Anonymous | reply 59 | May 8, 2019 11:35 PM |
To the poster who asked about maintenance, I bought pre-paid maintenance and it adds about 15 a month to my Mercedes lease. The other option is to pay what amounts to 1300 for on average two scheduled service during a three-year lease term.
And I will say, driving my car is fun. It's got all of tech (e.g., iPhone integration) all the style upgrades (exterior lighting package, wheel hubs, etc), 4matic (a must in NE US, my dealer only stocks 4matic cars) and many smart, proactive safety features that I've never had on any other cars that I've owned. It's the car equivalent of a top of the line smart phone. My lease amount is the same as what I paid when I bought my CRV.
It really depends at what you want from a car, and of course, what you're comfortable spending. But if you have the means, it's a high tech way to get from A to B in luxury and safety. And if you don't like it, with a lease, it's a relatively short-term commitment.
| by Anonymous | reply 60 | May 9, 2019 12:39 AM |
[quote]It is better to buy a high quality used car (pre owned) and get an maintenance warranty.
Have you priced high-quality used cars recently? They're almost as expensive as a brand new car, especially if you buy a certified pre-owned car from a dealership. Adding in a warranty increases the price of a used car even more. I would rather pay a couple thousand more and get a brand new car.
I've had several Mercedes and they are nothing but a money pit. Every time I got the car serviced it was several hundred dollars. And gird your loins once the warranty expires. Never again. Buy a boring Honda or Toyota that last forever and saves thousands over the life of the car.
| by Anonymous | reply 61 | May 9, 2019 12:53 AM |
I have a friend who buys new cars every 2-3 years to avoid maintenance issues
| by Anonymous | reply 62 | May 9, 2019 1:08 AM |
Suze Orman‘s thoughts on car leasing that you’re referencing might be over 20 years old. She might’ve been speaking to somebody who drives 20,000 miles a year. you have no idea who she was speaking to at the time.
The most important thing to remember about Car leasing is that they are always giving away a car. There is always a deal being offered at a price so low it almost doesn’t make sense. If you start your car search from the perspective of, “what deals are they offering this month”, you will do amazingly on a the car lease and will end up in a car that is much better than what you can technically afford. But if you treat your car search like a free-for-all and then Want to see how the model you like leases out vs buying, it’s statistically unlikely you’ll be pleasantly surprised. At any given time, car manufacturers are only giving crazy deals on one or two specific models. And cars with poor reliability never lease well, because the manufacturer knows that it will depreciate like crazy.
And remember, If you love the car that you leased, You already have negotiated a buyout price at the end of the lease.
Just look up lease deals May 2019 and you can find the best deals being offered this month for any type of car. The Internet allows people to search for this stuff in an organized way And they even create charts now where you can see what particular incentives dealers are getting depending on what region of the country you are in. Back when Susie Orman gave that advice, people had to open the paper and try to figure it out for themselves. Trust me, there is always a few “holy shit, how are they giving that car away at that price” deals. Those deals will narrow down your search pretty quickly, especially at the higher end of things. What would be stupid though, what would be stupid though, is taking all of the resources That you were planning on spending on a monthly payment to buy a car and then going out and leasing a car for that exact same amount, which could temporarily put you in a car that costs 40% more. That would be irresponsible.
| by Anonymous | reply 63 | May 9, 2019 1:13 AM |
This model is no longer in production, but you could probably get a good deal on a used one.
Offsite Link| by Anonymous | reply 64 | May 9, 2019 1:28 AM |
OP here. Thanks, bishes for advice even the stuff I don't like hearing.
I'm planning on owning this new car car 10 years or more. Like I said, I only put 5,000 miles/year. I put a shit load of company expenses on my credit card and should make $5,000/year cashback while I still have this job.
For those of you who got 0.0% financing, where did you get the loan? Dealer? Credit Union? Bank? What was your credit score? Mine is about 720 and will go up by the end of the year.
I'm thinking I might get a certified pre-owned 2020 model in spring 2020 although I worry why someone might want to get rid of it so soon.
My other preference would be Audi. I like some BMW's but I saw they have the worst return rate by buyers.
I cannot be seen in a Honda or Toyota.
r53, how much trouble have you had with your C-class? I want the 2020 CLA when it comes out.
Offsite Link| by Anonymous | reply 65 | May 9, 2019 2:46 AM |
I know Honda and Toyota aren’t sexy, but I’ve had Toyotas for 19 yrs and have been great. Reliable and no big mechanical issues. I detest wasting money, and I’m not in a position to do so. I have to prioritize my mortgage over cool car, until I get a sugar daddy. Also, I live in a city and I would stress having a beautiful car to worry about with the lousy drivers etc. I wish I knew someone savvy with money and haggling dealers...that intimidates me so much. I’d gladly pay someone to go with me, it would be money well spent.
| by Anonymous | reply 66 | May 9, 2019 2:55 AM |
What's the catch on the 0.0% financing?
| by Anonymous | reply 67 | May 9, 2019 3:07 AM |
I recently purchased a certified preowned 2016 BMW 750i with 16,000 miles on the odometer. It was a leased car that was being turned in. Carfax showed that it has been maintained at the dealership I purchased it from and there were no accidents or repairs involved . The price was 52% off the list price of a new 750i. BMW is financing it for 2 years at 1.9% with zero down. I have a limited warranty from BMW and then plan on having it maintained by a local mechanic who specializes in German cars.
I also plan to be buried in this car.
| by Anonymous | reply 68 | May 9, 2019 3:23 AM |
0% financing is reserved for high credit scores and usually involves 2-3 years' worth of financing.
Some may not qualify for it, but the bigger issue is with financing for that short of a time most people will have a higher monthly payment than they care to pay.
Plus only dealers will offer you that much financing so be prepared to haggle over a specific car and/or features that you may or may not truly want.
Jeez, some of the advice in here comes from the truly financially illiterate or absolutely risk adverse penny pinchers.
And as for OP - "cannot be seen in a Honda or Toyota" but wants to own a lower grade Benz for a DECADE? Geez, what a loser. Might as well stamp yourself now as the middle-aged middle manager who bought the car of his life at 45 and it's all downhill from there. Do you know how DATED your C-Class will be in 4 years?
| by Anonymous | reply 69 | May 9, 2019 4:32 AM |
[quote] I also plan to be buried in this car.
Does that require buying a block of eight plots at the cemetery?
| by Anonymous | reply 70 | May 9, 2019 7:29 AM |
R54 What Audi do you have A6? A8? Looking for a used luxury car. German cars are known for requiring a lot of maintenance. When did you buy it?
9,200 for a GS? Hold old was it? That's dirt cheap. When did you buy it?
| by Anonymous | reply 71 | May 9, 2019 8:39 AM |
R65 That's what I thought.
| by Anonymous | reply 72 | May 9, 2019 5:31 PM |
If you only drive 5,000 miles a year you don't spend a lot of time in the car, so I guess technological advances aren't really important to you. I am on my 4th car in 10 years. If I hung on to the original, I wouldn't have wireless charging, WiFi, phone connection, auto start, blind spot indicator, etc. My monthly lease payments aren't much more than I pay for lunch every day.
| by Anonymous | reply 73 | May 9, 2019 5:44 PM |
I love leasing and getting a new car every three years. I also don’t want to trade in or sell a car. Leasing is very easy.
| by Anonymous | reply 74 | May 9, 2019 6:15 PM |
I was just in a 2018 Nissan Sentra rental for a work trip recently. More features than my 2012 Volvo!
OP may find that after 10 years of owning a lower grade Mercedes that the joke is on him. He should lease.
| by Anonymous | reply 75 | May 9, 2019 6:19 PM |
I mentioned above I have a 13-year-old Toyota Highlander. I am self-employed. I’m wary of getting nothing on my trade-in if I do a lease or buy something at a dealership. Does anyone know if I might be better off donating my car and getting the tax benefit. .?
| by Anonymous | reply 76 | May 9, 2019 6:23 PM |
R76 here, I am a counselor in private practice, so I do not make a lot of money and I see clients in the office. I don’t think I could deduct leasing on my taxes… Does anyone know? I’m a good counselor, but not savvy on finances.
| by Anonymous | reply 77 | May 9, 2019 6:29 PM |
r77 You can only deduct automobile expenses that are business-related. Commuting is not considered business-related.
| by Anonymous | reply 78 | May 9, 2019 6:32 PM |
That’s what I thought r78. And I need write Expenses that will affect me adjusted income. How does it work if you donate car, how does it benefit your tax situation… Anyone know?
| by Anonymous | reply 79 | May 9, 2019 6:35 PM |
r79, I think I remember reading that if you donate a vehicle to charity you can only write off the amount the charity ends up selling or scrapping it for. Also keep in mind the new tax code was designed to discourage people from itemizing their deductions and just taking the standard deduction, so unless you have a lot of deductions, a charitable donation of a couple thousand dollars isn't going to cut it.
| by Anonymous | reply 80 | May 9, 2019 6:39 PM |
[quote] I mentioned above I have a 13-year-old Toyota Highlander. I am self-employed. I’m wary of getting nothing on my trade-in if I do a lease or buy something at a dealership. Does anyone know if I might be better off donating my car and getting the tax benefit. .?
[R76] , could you just ask a dealership how much trade-in credit they'd give you? You might be pleasantly surprised. I had an old Honda and was surprised at the trade-in they were going to give me, until I told them that air conditioning was broken.
| by Anonymous | reply 81 | May 9, 2019 6:58 PM |
r81, you shouldda kept your mouth shut about the A/C. I was offered a surprising amount of cash for a trade in of my old clunker when I was leasing a car. I signed the paper work, made a deposit and they needed a day or so to get the car registered and all that. I went back the next day and my car broke down (broken fuel pump) half a mile from the dealership. I pushed that fucker right into the dealership and made them honor the agreed trade in price.
| by Anonymous | reply 82 | May 9, 2019 9:33 PM |
Leasing is basically a long term rental from the dealership. Leasing is the least expensive way to get a long term, yearly rental. But, it is more expensive than buying a car.
People who say that it is less expensive for me to lease a Porsche for a year than buying it are Nacassists. They do not have the money in the first place to buy this car. They are using the car as a status symbol, or worse they are gritters.
| by Anonymous | reply 83 | May 9, 2019 10:10 PM |
R83 OP wants a status symbol, and advice on the cheapest way to maintain the status symbol. Said so himself - cannot be seen in a Honda or Toyota. Only drives 5,000 miles a year so car presumably is for show and tell on the weekends.
Again, however, OP wants to own this same status symbol for 10 years. So joke is on him, because in less than half of that he will be pulling up to the parking lot in a dinosaur. Meanwhile, single mothers working at McDonalds will be buying Kias with 8x the technology.
OP should lease.
| by Anonymous | reply 85 | May 9, 2019 10:14 PM |
No, Op wanted advice. People in this thread are telling him to buy a reliable car.
| by Anonymous | reply 86 | May 9, 2019 10:16 PM |
R86 No, OP wants advice on a Mercedes Benz and whether given the known high costs of maintenance for luxury German vehicles it will be cheaper in the long run to buy or lease.
People giving him advice on other cars are projecting their own biases against owning Mercedes.
| by Anonymous | reply 87 | May 9, 2019 10:35 PM |
Further OP hinges paying for this car as follows: "I put a shit load of company expenses on my credit card and should make $5,000/year cashback while I still have this job".
OP's credit score is only 720, which while good, suggests credit card balances.
OP should be prepared to have a dealer tell him the best he can do is 4.9% financing or a lease. Those numbers and income sources will knock away any real negotiating power he will have at a Benz dealership.
Reading between the lines, OP is another middle American queen wanting a flashy toy that he can't afford.
| by Anonymous | reply 88 | May 9, 2019 10:42 PM |
R76, I also have a 2006 Highlander, 195k miles (will be 200k by October). Your car is fine and will easily make it to 200k. If you are concerned about long car trips, consider renting a car: it's fun and much less expensive than buying a new car. I plan on keeping mine as long as possible, and 250k seems well within bounds.
| by Anonymous | reply 89 | May 9, 2019 11:17 PM |
A car is a depreciating asset. Why would you want to own something expensive that starts losing value the first day you have it and never stops??
It makes no sense to own an expensive car. Lease it and let the bank deal with its loss of value.
| by Anonymous | reply 90 | May 11, 2019 4:12 PM |
OP should be leasing a Volvo or BMW which include free scheduled maintenance.
| by Anonymous | reply 91 | May 11, 2019 4:13 PM |
Never lease and never buy a new car.
| by Anonymous | reply 92 | May 11, 2019 6:16 PM |
The best deal might be leasing a five-year-old car.
| by Anonymous | reply 93 | May 11, 2019 7:20 PM |
Car brands that maintain high residual values like BMW actually make the best lease deals.
Sedans have a lot of incentives on them right now too, since demand is reduced because most people want SUVs.
| by Anonymous | reply 94 | May 11, 2019 7:35 PM |
I bought a used 2017 Audi A4 in 2018 with 10k miles on it, the original sticker was 53,000, i paid 38,000 and they certified it as well, Very reliable and great car
| by Anonymous | reply 95 | May 11, 2019 8:36 PM |
I hate SUVs, r94, so that’s great news for me.
| by Anonymous | reply 96 | May 12, 2019 12:35 AM |
I’ve had a much better experience with my Toyota Camry XLE than with my Mercedes-Benz E-Class with 4MATIC. I enjoy the Toyota, and always enjoy when people lower on the totem poll are driving something more expensive than me. To each his own, but the high-end German cars are a good way to waste a lot of money.
| by Anonymous | reply 97 | May 12, 2019 1:06 AM |
BMWs are far superior to Mercedes in almost every way, including reliability.
| by Anonymous | reply 98 | May 12, 2019 1:28 AM |
OP is probably busy trying to explain how his credit card cash back rewards should increase his annual income above what his W-2 says right now. Good luck to him, he'll need it.
| by Anonymous | reply 99 | May 13, 2019 11:44 PM |
R66, my partner and I used a concierge service to buy our cars— you might want to investigate that option. We told the concierge which cars we wanted, he found them for us and did all the negotiating with the dealer.
| by Anonymous | reply 100 | May 14, 2019 12:22 AM |
If you can't afford to buy a car with cash, you can't afford it.
| by Anonymous | reply 101 | May 14, 2019 12:25 AM |
[quote]If you can't afford to buy a car with cash, you can't afford it.
That’s why you lease it. There’s no need to waste your cash buying a car.
| by Anonymous | reply 102 | May 14, 2019 12:27 AM |
I just came across this guy on You Tube. Check out his video page for A LOT of information on car buying. Here's a link to one video regarding the rip off known as 'documentation fees'. It's actually telling that car dealerships have convinced the car buying public this charge is mandatory, and can't be negotiated.
One thing I took from his videos, you have to work at buying the best car, at the best price. And can't be timid.
Offsite Link| by Anonymous | reply 103 | May 14, 2019 12:28 AM |
Here is a great luxury car, and a great value, as an equivalent Mercedes would cost at least 33% more. But, it has a big problem - it's badge.
And people like OP would never even consider a car like this, even though it makes so much more sense than one of the German cars.
Offsite Link| by Anonymous | reply 104 | May 14, 2019 1:03 AM |
You are what you drive. Period.
| by Anonymous | reply 105 | May 14, 2019 1:09 AM |
Used Audi or BMW are great buys, from my experience.
| by Anonymous | reply 106 | May 14, 2019 1:17 AM |
True, r105. I'm most impressed by cars that say smart and practical.
| by Anonymous | reply 108 | May 14, 2019 3:55 AM |
I had two used Audis previously but the next used one I wanted was $40,000 and I didn't want to spend that much cash on a used car plus from experience maintenance is killer. You don't get out of the shop without spending at least a grand. Wish I could afford a used Range Rover.
| by Anonymous | reply 109 | May 14, 2019 4:05 AM |
Mercedes has a terrible resale value. So is a Range Rover and Land Rover
I was looking for a used SUV and I saw BMW, Mercedes, RR/LR for the same or almost the same price as used Honda CRV's and Toyota Highlanders and 4- Runners. And actually those "exclusive" vehicles had less miles than the Japanese vehicles. I saw an inexpensive used Porsche SUV last week. And these vehicles are all less reliable than the Japanese vehicles
| by Anonymous | reply 110 | May 14, 2019 4:59 AM |
Someone at work just bought a new Honda Accord. My boss has a new 7 series BMW. They're both white vehicles. I saw a car driving around the building and was wondering what my boss (the company owner) was doing driving around the building since he has a reserved parking space out front. I ran over to the other window to get a better look and realized it was my friend in her Honda Accord, only because I saw my bosses car parked out front
They are really nice. And I hate white cars, but I'd make an exception for that Honda. It also looks great in black or silver. I didn't like it in the other colors (maroon, blue, red)
| by Anonymous | reply 111 | May 14, 2019 5:08 AM |
Buy or finance. Leasing is for suckers
| by Anonymous | reply 112 | May 14, 2019 5:10 AM |
What's the expression? There's nothing more expensive than a cheap Mercedes?
Or Audi, BMW, Range Rover. . .
That said, when I went to stay in my birth country for three months, I bought a 1997 Mercedes Benz E320 (W210) to get around in, as I had to drive thousands of kilometers. Great comfortable car, but I also did all the maintenance, and spend many hours in the pick a part lot (love doing this) to make it excellent. Was going to keep it stored for future visits, but the person offering storage, bought the car for what I had put into it. He really likes it to this day. I'm looking at another older 2001 MB E320 wagon with 4matic this time, and plan to keep it up there for extended visits..
| by Anonymous | reply 113 | May 14, 2019 5:15 AM |
OP is not interested in boring queens afraid to live a little opting for their Hondas.
He wants a big boy toy, but has an adolescent budget.
How is this news or even a debate?
OP should lease, realize he's still the same guy after 3 years of payments, and be glad he didn't lock himself into a 10 year deal for a car that will have long been obsolete.
| by Anonymous | reply 114 | May 14, 2019 8:41 PM |
Buying a cheap 40k Mercedes is idiotic. If you can't spend at least 10k more on a luxury car then you are a fool and can't afford a Mercedes. Buy a used one for that amount of money or less.
I watch a lot of you tube videos on cars and they overwhelmingly say stay away from German cars. Stick with the Japanese. Toyota's and now Kia are the thing. Kia was a joke. Well no more. Unless ALL these guys are being bought off by the Japanese.
| by Anonymous | reply 115 | May 14, 2019 9:18 PM |
I should have said Kia is South Korean not Japanese but car people are very impressed with how they've upped their game.
| by Anonymous | reply 116 | May 14, 2019 9:22 PM |
[quote]I watch a lot of you tube videos on cars and they overwhelmingly say stay away from German cars. Stick with the Japanese. Toyota's and now Kia are the thing
Toyotas are boring as fuck, underpowered, look uglier with each redesign, and have cheap plastic interiors.
| by Anonymous | reply 117 | May 15, 2019 12:02 AM |
Audis and BMWs are very reliable.
| by Anonymous | reply 118 | May 15, 2019 12:29 AM |
Didn't realize Kia's are now respectable, I remember when they were known for breaking down quickly.
I really like the Honda Accord, that is the most luxurious I would feel comfortable buying. I like how the Civics look too. I don't think Honda is as reliable as it used to be though.
| by Anonymous | reply 119 | May 15, 2019 12:41 AM |
My 2000 Audi A6 4.2 is still going strong.
| by Anonymous | reply 120 | May 15, 2019 12:43 AM |
NEVER buy new...buy at least a yr old car with low miles or a demo from a dealer. Newew cars depreciate right off the lot.
I just bought a 2017 with 2500 miles on it for under $20k..lifetime warranty and OMG the car is gorgeous
| by Anonymous | reply 121 | May 15, 2019 12:46 AM |
R121, buying new is the way to go if you plan on keeping the car a long time. A quality used car with few miles and a warranty(which is what you want) is going to cost almost as much as a new car.
Japanese cars are the most reliable by a mile, and they have excellent resale value because of it. You basically just need to get the oil changed and that's it for the first 50k miles. Hondas are just as reliable as Toyotas, and they look more upscale and have more features.
| by Anonymous | reply 122 | May 15, 2019 12:54 AM |
Sedans aren’t selling. Luxury sedans aren’t selling at all. I bought a 2019 MB E300 loaded at the end of December for 20% off the MSRP. If you care about it, that covers a lot of depreciation.
But purchases like these shouldn’t be dependent upon affordability. It’s either an elective treat that’s fun or you just don’t do it.
| by Anonymous | reply 123 | May 15, 2019 12:59 AM |
Op, would this be the first time you financed a car? If so check things out first. Because in California you cannot lease a car unless you have already successfully financed an auto.
| by Anonymous | reply 124 | May 15, 2019 1:37 AM |
This is you OP.
This is the Mercedes I would buy.
$48,950
Offsite Link| by Anonymous | reply 125 | May 15, 2019 1:46 AM |
R125 - That is the base price, and no one buys a base German car. The options add up quickly, and for a well equipped German car, can be 33% more expensive than that base price. Use the configurator to see how expensive that $49,000 car is in the real world. Many options on these cars, are standard on cars like a Hyundai Sonata. Porsche is probably the worst for asking horrendous mark ups for things like lane assist. $400 for painted wheel center caps?
| by Anonymous | reply 126 | May 15, 2019 2:04 AM |
R125 - I got that car up to $70,000 without adding any dealer accessories.
| by Anonymous | reply 127 | May 15, 2019 3:04 AM |
R128 - Personally, I'd wait five more years before buying an electric car, but that's just me. And as advanced as a Tesla may be, it seems the build quality is lacking. I'd rather buy an Ioniq, if this was basically used as a commuter car for me. The Tesla Model 3 does have better range though.
Any Tesla owners to give their real world realities, rather than a random guy with an opinion, like me?
Offsite Link| by Anonymous | reply 129 | May 16, 2019 1:40 AM |
"So is a Range Rover and Land Rover"
Range Rover is owned by Land Rover (Jaguar Land Rover). They are not separate entities. Range Rover, of which there are several models, is the premier line in the Land Rover brand.
| by Anonymous | reply 130 | May 16, 2019 1:47 AM |
r124, yes it would be my first time financing a car. I Googled leasing for CA and didn't see any restrictions like you mentioned.
| by Anonymous | reply 131 | May 17, 2019 2:48 AM |
[quote] Range Rover is owned by Land Rover (Jaguar Land Rover). They are not separate entities. Range Rover, of which there are several models, is the premier line in the Land Rover brand
I never said they were separate entities. And no matter how anyone says it, hey both are super unreliable, have absolute shit gas mileage and have terrible resale values
| by Anonymous | reply 132 | May 17, 2019 6:07 AM |
And Land Rover has been owned by TATA since 2008 . . . people have no idea whose pockets they're lining . . .
Offsite Link| by Anonymous | reply 133 | May 17, 2019 6:26 AM |
I used to see very cheap lease deals as recently as a couple of years ago, when I was looking to buy one. Like 200/month or even less. I even saw as low as 111 for a Nissan Sentra, 149 for a corolla (these were without a huge down payment, either) Probably impossible to get these terms, at those prices, I would have leased.
Either buying new or leasing, you are paying for the depreciation either way. Leasing seems like it would be more annoying, you can't trade it in when you feel like, you have to watch your mileage and being hit with hidden charges. I wouldn't look at luxury cars anyway, even if I was wealthy.
| by Anonymous | reply 134 | May 17, 2019 6:32 AM |
Then r132, why mention 'Range Rover AND Land Rover? It's analogous to saying 'Land Cruiser and Toyota'. Does not make sense.
| by Anonymous | reply 135 | May 17, 2019 10:33 AM |
R133, that goes for any car manufacturer. The criticisms about Tata Motors is due to the fact that it is owned by brown people.
| by Anonymous | reply 136 | May 17, 2019 10:46 AM |
Volvo is owned by a Chinese company Geely. Daimler Benz has a factory in abortion Alabama. So yes, people have no idea whose pockets they're lining.
| by Anonymous | reply 137 | May 17, 2019 1:43 PM |
OP, if you’re concerned about maintenance cost on a 40K car, leased or purchased, you cannot afford the car. It’s that simple.
Your question makes zero sense, because you must be sure that you can afford the maintenance on any car you buy.
Also, aside from the issue of whether or not you can afford the purchase or lease, Mercedes is crap, unless you purchase a certain class/model. Haven’t gone through the thread, but knowing DL, surely someone has brought this to your attention.
Personally, I’d go with a Lexus, but that’s me. I love Mercedes Benz for their classics, however, I wouldn’t buy a classic or a new one, because my objective for cars is regular use and reliability.
For me, a Prius is more than enough.
| by Anonymous | reply 138 | May 17, 2019 2:15 PM |
