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Member
DoctorLoomis
Posts: 12
Registered: ‎04-19-2013
0

Mercedes Benz Financial

FICO is 680 exactly. Current auto loan that is 49 months current...never ever late. Two credit cards....4K available....zero balance on both. Never any BKs...never a repo. One medical collection from two years ago....auto accident that's still in litigation. Other driver at fault. I want a 2014 C63 AMG....appx. price $68,000. Prepared to put down 15,000 minimum. Will I have any problems guys?
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
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Re: Mercedes Benz Financial

Anything you can do about that medical collection?

 

Will you be paying off the other car or trading it in? Does it have equity?

 

What is your income/DTI?

 

I think you should put enough down to get the loan under $50k. You can probably get a few thousand off MSRP and that will help with fee's/taxes.

 

This is one car that I think used would be the best way to go. Recently gently used model's have been selling high, but I think you can get a good deal on one of these used. Just checking my local craigslist I see http://sfbay.craigslist.org/eby/cto/3797589770.html

 

Only 6k miles and you will be saving $30k.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Mercedes Benz Financial

If you want to go new, I would wait for the release of an AWD c63 AMG.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Regular Contributor
Jon85
Posts: 233
Registered: ‎02-21-2013
0

Re: Mercedes Benz Financial

You'll be fine I think. In 2010 I got a new CLK 350, $5,000 down and got approved for up to $54,000.

 

My score was Fico 660, interest rate 6%. I had two judgements (one paid, one unpaid) and three collections and literally no revolving credit (my accounts were closed), but I had an auto loan paid and closed, never late and a mortage current/never late. 

Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012
0

Re: Mercedes Benz Financial


Dustink wrote:

If you want to go new, I would wait for the release of an AWD c63 AMG.


Ok if you are buying this car to look nice and drive in the snow then by all means wait for an AWD (if they plan on producing it). But if you are buying it for power and decent 0-60 times dont waste your time with AWD, not enough extra pull off start up to offset extra weight.

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Mercedes Benz Financial

[ Edited ]

I completely think that 150lbs is well worth keeping 450hp connected to the ground. 

 

Not even for snow, wet roads with RWD would cause major traction issues.

 

The exit speed out of corners with AWD is quite nice as well.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012
0

Re: Mercedes Benz Financial

[ Edited ]

A lot closer to 200-250 lbs but it is not worth the added weight in any race longer than 1/4 mile, you might get a jump off the line but wont help you on the track. RWD will have much better cornering and overall better handling IMO. For these machines (Im a bimmer guy BTW) you do not need the added traction, some halfway decent summer tires (PS3s all the way) will keep you grounded. There is a reason why performance models are not offered in AWD, AMG has been toying around with this and in my opinion it is purely for marketing. I have yet to hear anyone complain from any m3 c63 GTR that they need more traction....Besides these companies developed these machines from the ground up spending millions on the correct tunes and ratios, they would have to spend millions to correctly tune the AWD versions, which again IMO do nothing to add value to the car.

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656
Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012
0

Re: Mercedes Benz Financial

Oh and these car should NOT be daily drivers.... they should never see snow or rain, period.

Age: 22 //Cards: Chase Freedom, Chase Amazon Visa, Discover IT, CreditOne, CapOne Quicksilver, CapOne Cash, Walmart, Barclaycard, Citibank BestBuy, NavyFederal Visa Signature cashRewards //AAoA: 1 Year 3 Months (but going down quickly :smileytongue:) //CK:692, Sesame:656
Valued Contributor
Dustink
Posts: 2,980
Registered: ‎10-02-2012
0

Re: Mercedes Benz Financial

[ Edited ]

There was a C63 AMG parked next to me today. Not the nicest weather today either. Rainy, windy, and they had it parked on the street just looking for door dings...haha They are daily drivers for many.

 

Also, my neighbors daily driver is a GT-R. Wait, why is that one AWD? No snow around here and they don't use it as a marketing tool. They have it because it increases performance.

 

The AWD Mercedes system is under 150lbs. Well worth the out of corner acceleration on wet roads.

 

They are just cars, why not drive them in whatever conditions are out there? Just need the correct tires. Summer's in the summer and winters if you will ever get near snow.

 

I like how we lost OP so long ago...

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:21    


     $14k          $8.5K          $7.5k          $7.5k         $6.5k             $6k             $5k            $5k             $5k              $5k           NPSL       @ 0%
Member
DoctorLoomis
Posts: 12
Registered: ‎04-19-2013
0

Re: Mercedes Benz Financial

Hey guys...my FICO went up to 698! Anyhow, spoke with Mercedes Benz finance mgr at my local dealership. She looked over my FICO score and credit report...said no worries about financing. I'm good to go!

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