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I like to buy cars I can't afford new. Just buy them used. Just make sure you can afford the repairs.
I want a new Benz, too, but some dreams stay dreams, unfortunately.
I'd like a Benz too. But it's not in my budget. Ditto a BMW. I like German cars, but repairs can be very expensive. So is the insurance - on any luxury vehicle.
I think it's kind of trashy to drive a luxury car if you do not live in a luxury area or otherwise live a luxury life style. Trashier still? Repossession.
We have a late model Volvo wagon, a Nissan Xterra and a Dodge Grand Caravan - we have 2 kids in college and we still need a mini van to take them back and forth.
Having two kids in college is expensive. So my fleet of Bimmers and Benzes will have to wait.
What if you want a new Benz. You save well for the job you have but its a little more than you want to spend.
Anyways how do people get to own luxury vehicles if they are a little more than they want to spend?
The way they "own" them is they lease them, generally. Stretching your budget to buy a high buck new car, only to take the "drive it off the lot" depreciation on the chin, then watch its value drop like an anvil in a Road Runner cartoon, is dumb. Good luck to them to avoid a "shake down" from the dealer when they return the lease in less than perfect condition. But, hey, you got to look cool for a couple of years, although the real car guys like me know it's a lease if you work in the mail room and we won't give you any respect for it.
The later model Benz and even BMW (there, I said it!) are IMHO not really that desirable once they go out of warranty. Not even to people like me that have a good garage, tools, and experience DIY maintenance and repair.
For 30 G you can buy all sorts of lower level older Ferrari, many collectable Corvettes, all sorts of well-sorted muscle cars, a decent but by no means perfect 55-56-57 Chevy, just for example. You can buy a damn good E30 M3 for that.
But if the purchase of the car is a stretch, unless you already have a good garage to keep it in and have built up some experience wrenching on less valuable cars - you need to get the cage before you get the bird.
One of the receptionists who works for my mother's group (medicine), has a new Mercedes C-Class, and she doesn't have a high salary, not when factoring the cost of living in the area. She also doesn't have a stripped C, as it is a 4Matic and well optioned from what I have seen of it. I would think that it is one of three scenarios: leased ($30k millionaire style), financed over a very long term, or she had help to buy said car. Since she had an an older Elantra, I would lean towards lease because I have seen offers under $400 for the 4Matic. However, that is a restrictive lease, most likely, with a low mileage amount, since MBZ will want to sell said vehicle as a low mileage CPO in two or three years.
Leasing can get you a luxury/near luxury car for a decent price if you have good credit and the terms work for you, but you will have no car at the end of the lease, and will have to lease another. This works for some who don't mind the expense and they always get a new car, but you do not have an asset that you can sell, just a contract for the use of the vehicle over the term. And, watch out for fines upon return for excess damage and mileage, though if you are leasing another new car, there's likely not going to be much of an issue, provided you are not too far over the mileage.
The only time I lease is when the car is used exclusively as a business vehicle, since it's an expense. I don't lease for personal transportation as a matter of preference, but with some higher-end vehicles, leasing can make sense as your costs are controlled. You are also spared an out-of-warranty vehicle with which to contend, either to repair, sell or trade, since some marques have steep depreciation curves. Many I know who lease high-end cars also have an SUV or sedan that they own, so that the high-end lease is rarely the sole source of personal transportation, since the leases are generally pretty restrictive in terms of mileage.
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All the world's a stage, and all the men and women merely players: they have their exits and their entrances; and one man in his time plays many parts, his acts being seven ages.
~William Shakespeare (As You Like It Act II, Scene VII)
It's possible but very stupid to buy a luxury car over $35,000 on a non high paying job. If you have a non high paying job it's very important to save and invest $35,000 that could grow to $100,000 than to use $35,000 on something that will be worth less than $10,000 in 10 years.
I'd like a Benz too. But it's not in my budget. Ditto a BMW. I like German cars, but repairs can be very expensive. So is the insurance - on any luxury vehicle.
I think it's kind of trashy to drive a luxury car if you do not live in a luxury area or otherwise live a luxury life style. Trashier still? Repossession.
We have a late model Volvo wagon, a Nissan Xterra and a Dodge Grand Caravan - we have 2 kids in college and we still need a mini van to take them back and forth.
Having two kids in college is expensive. So my fleet of Bimmers and Benzes will have to wait.
I think BMW and Benz's are over rated myself, only Benz I like it the SL and its 100k now but even that car deprecates half its value in 4 years. I have a Volvo and an Infiniti and both have been great cars.
What if you want a new Benz. You save well for the job you have but its a little more than you want to spend.
Anyways how do people get to own luxury vehicles if they are a little more than they want to spend?
Why buy new? You can find ones that are 15-20 years old that are in salt free zones that are in very good condition at super low prices. The advantage of the older ones is that they have fewer computers and less expensive equipment which means lower $$$ repair costs.
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