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Mercedes AMEX

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heyitsyeh
Frequent Contributor

Re: Mercedes AMEX

I'd hate to see down the road a guy who is 21 saddled deep in credit card debt and this post was the genesis. My parents were gracious enough to pass me down a 2003 corolla still in top shape today after my mom got the lexus she wanted (after many many years of saving of course). I still believe that I will be well in my 30s before this car finally breaks down, bar a major accident. I would advise you to do the same, get a cheap, reliable car that will do the job for a long time, and by the end of its life you will be in a much better financial position to get the car you really wanted. You'll be able to afford more than a CLA, with the right kind of job Smiley Wink

TU: 777 | EQ: 814 | EX: 764
Last INQ: 3/26/21
AAoA: 4y 7m
Lowest limit: Chase Freedom Visa - $13,000
Highest limit: Discover It - $56,500
Available credit: $200,600 (8 cards)
Message 21 of 33
VirtualCuriosity
Established Contributor

Re: Mercedes AMEX


@yudeology101 wrote:

Wow only thing i can say is ....................


Well, take a minute to read all his/her posts.  Then wonder if there is just an entertainment factor in watching people feed into the threads.


TU713, EQ 731 , EX 726 (As of 12/13/14) - Personal Goal = 760

“Beware of little expenses. A small leak will sink a great ship” – Benjamin Franklin

Gardening since 3-26-15































Message 22 of 33
adavis425
Established Contributor

Re: Mercedes AMEX


@takeshi74 wrote:

As always, consider total cost of ownership.  Buying a car is just the start.  Price out insurance.  Price out maintenance and other costs (registration, inspections, wear items, etc).

 

+1
If only kids would LISTEN to this!! It's the same thing I told my 19 year old son. He ignored it (of course) and now when he needs repairs on his BMW he wishes he had listened. Perhaps the lease takes care of maintenance costs, but you still have the other costs as takeshi mentioned. 

 

AmEx Platinum | AmEx BCP | AmEx Delta Gold | CSP | Chase Freedom | NFCU cashRewards Visa Sig | NFCU Plat MC | WM MC | Discover it | JCP


Message 23 of 33
Gornet
Frequent Contributor

Re: Mercedes AMEX

Uh why do you guys all think I'm trolling I'm not! Wt f
I already talked to my parents and they might lease me the mercedes e class mercedes. I just need to get my license and we will see

And yes the delta card is mine
PRG NPSL - Reserve 4.5k - Delta Gold 6.5k - Ritz 6.8k - CSP 5k
My Credit story
Message 24 of 33
ambivalent
Established Contributor

Re: Mercedes AMEX

random question, but why don't you have a license?  If you are just getting one, the insurance for that car is going to be insane!

Aiming for 700 across FICO 8 and $150K TCL
Message 25 of 33
subsnao
Regular Contributor

Re: Mercedes AMEX


@Gornet wrote:
Uh why do you guys all think I'm trolling I'm not! Wt f
I already talked to my parents and they might lease me the mercedes e class mercedes. I just need to get my license and we will see

And yes the delta card is mine

They think you are trolling because no one in their right mind would buy/lease a mercedes without any income, let alone an 18 year old kid. Good luck paying for anything like insurance (which, I can guarantee you, will be through the roof with that car and your age) or repairs. Getting the same repair on a mercedes as something like a toyota is easily 3-4x more expensive.

 

If your parents are paying for everything, then there is really no need to worry about it. The only thing to worry about is getting approved for the lease because you have no income. Even if your parents make a ton of money and have amazing credit, there is a chance you won't get approved with your name on the lease. No income is a big red flag for anything dealing with credit.

 

And a question of my own, as I am just a bit older than you. My first car was a 1997 Pontiac Grand Am. It lasted me for ~2 years and got me from A to B. I then bought my own car, with a co-signer, and still got a horrendous interest rate. Not to mention I actually had an income and more credit history than you. Why do you WANT a mercedes? that is too much car for someone of your age. And, the lease might not even allow you to do something like a lease-to-own. Go get a beater or cheap, nice car like a Chevy Cruze. To each his own I guess, but you are setting yourself up for a world of financial hurt.


In the garden as of 2/22/2015
Scores:
TU: 753 (Discover FICO 7/2014) EQ: 721 (FICO 4/2014) EX: 723 (FICO 3/2014)
Age: 21
Message 26 of 33
Gornet
Frequent Contributor

Re: Mercedes AMEX

I have no income how else am I supposed to buy a mercedes lol? My parents will buy it for me if I do get one...
I don't have my license yet because I failed drivers ed and got my permit suspended lol...

I want a mercedes because there nice and my mom won't buy me a maserati Smiley Sad
I know she said I have to work for that one but I don't want a job so yeah...

I can get a job if whenever I want that pays a very good amount of money but I don't want to work like I said I'm a kid I should be living my life
PRG NPSL - Reserve 4.5k - Delta Gold 6.5k - Ritz 6.8k - CSP 5k
My Credit story
Message 27 of 33
Gornet
Frequent Contributor

Re: Mercedes AMEX

And it won't be financial hurt my dad can make enough money to get the mercedes in a month
PRG NPSL - Reserve 4.5k - Delta Gold 6.5k - Ritz 6.8k - CSP 5k
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Message 28 of 33
subsnao
Regular Contributor

Re: Mercedes AMEX


@Gornet wrote:
I have no income how else am I supposed to buy a mercedes lol? My parents will buy it for me if I do get one...
I don't have my license yet because I failed drivers ed and got my permit suspended lol...

I want a mercedes because there nice and my mom won't buy me a maserati Smiley Sad
I know she said I have to work for that one but I don't want a job so yeah...

I can get a job if whenever I want that pays a very good amount of money but I don't want to work like I said I'm a kid I should be living my life

Definitely a troll.

Welcome to life kid. We all do things we dont want to.


In the garden as of 2/22/2015
Scores:
TU: 753 (Discover FICO 7/2014) EQ: 721 (FICO 4/2014) EX: 723 (FICO 3/2014)
Age: 21
Message 29 of 33
Gornet
Frequent Contributor

Re: Mercedes AMEX

And idk where you guys live but where I live kids are driving teslas which my parents won't even buy me wt f
PRG NPSL - Reserve 4.5k - Delta Gold 6.5k - Ritz 6.8k - CSP 5k
My Credit story
Message 30 of 33
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