topic Re: Mercedes Benz Financial in Auto Loans

Mercedes Benz Financial

DoctorLoomis — Tue, 14 May 2013 08:33:54 GMT

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?

Re: Mercedes Benz Financial

Anonymous — Tue, 14 May 2013 15:48:09 GMT

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.

Re: Mercedes Benz Financial

Anonymous — Tue, 14 May 2013 21:51:32 GMT

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

Re: Mercedes Benz Financial

Jon85 — Tue, 14 May 2013 22:25:57 GMT

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.

Re: Mercedes Benz Financial

Anonymous — Wed, 15 May 2013 17:26:18 GMT

@Anonymous 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.

Re: Mercedes Benz Financial

Anonymous — Wed, 15 May 2013 22:15:21 GMT

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.

Re: Mercedes Benz Financial

Anonymous — Thu, 16 May 2013 17:03:46 GMT

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.

Re: Mercedes Benz Financial

Anonymous — Thu, 16 May 2013 17:11:59 GMT

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

Re: Mercedes Benz Financial

Anonymous — Fri, 17 May 2013 04:33:42 GMT

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...

Re: Mercedes Benz Financial

DoctorLoomis — Fri, 17 May 2013 05:49:50 GMT

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!

Re: Mercedes Benz Financial

Anonymous — Fri, 17 May 2013 19:59:44 GMT

If you are planning on driving this as a simple daily driver in the snow and rain, by all means go for the AWD, you will probably love it. I myself would not be caught driving a 100k machine on the beltway every day, but if you have the money to throw away go for it.

But if we are talking performance, AWD is a myth. You get a jump off the line (marginally at best), but you do not get improved handling, wet or dry. The only systems that will marginally improve handling on paper are advanced systems that will divert power to the outside wheels while dragging the inside. You will never recognize this attribute off the track, and quite frankly this is a straight line car anyway. You will never see better handling and you will not help your corners, wet or dry.AMG made an amazing engine here, but still the same weak handling.

I will say 150lbs is not a LOT of added weight, but I still attest you are being conservative.

JUST CARS YOU SAY, Blasphemy! I was not aware Gt-R was AWD, DOH! To my knowledge audi was the only one who screwed around with awd and they are proven to be smoked off the line anyway (audi helped developed c63 with amg so this is not tooooooo surprising that AWD comes as an option).

Anyway, fun thread here but as you can tell I am biased towards my bimmer (and RWD), and would love to meet up and show you how it should be off the line (I kid I kid).

Re: Mercedes Benz Financial

Anonymous — Fri, 17 May 2013 20:16:58 GMT

And OP make sure to post what you went with. And pics too!

Re: Mercedes Benz Financial

Anonymous — Fri, 17 May 2013 22:24:20 GMT

Congrats on the approval.

AWD is not an option yet for the c63. The RWD will still have okay traction as the weight shifts to the rear during acceleration, but it will walk out from you pretty well in the corners. I am just a fan of AWD and I disagree about the audi statement. An awd audi with the same hp will destroy a c63

BMW is big on awd as well, but not for their performance lines. They are just quick in general haha

Thought I would find a video to sum up our thread. To youtube....

It's old, but pretty in line with what we have been talking about: http://www.youtube.com/watch?v=DaZExdTHHjY

The correct tires on a rwd vehicle will no doubt still be great off the line. You mention an advanced awd system that changes wheel speed in corners, well most are doing that now. I am biased towards awd as I am used to driving them and like the way they feel on the brink of taking out a guard rail, rwd on the other hand...not so much