Now That You Can Buy A Mercedes For The Price Of A Chevy, Should You?

Now That You Can Buy A Mercedes For The Price Of A Chevy, Should You?

This is a tempting time to be a lover of cool cars. Thanks to lease offers, low interest rates, and low gas prices, it’s gotten dangerously easy to drive off the dealer lot with a brand new luxury car.

Buying a used car is almost always a better deal over the long term than buying or leasing a new one. That’s the classic personal finance advice, and it still applies. But in recent years the irresponsible choice has gotten a lot more enticing.

Low interest rates make it possible to afford pricier cars for the same monthly cost. In the past five years, the average vehicle’s cost is up about $5,000, to almost $33,000. Despite this, the monthly payment on that car is up only about $30, an analysis by Bloomberg Intelligence shows. That’s because the interest rate on the average five-year auto loan is now only about 3 percent per year, down more than four points since 2009.


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TomMTomM - 5/26/2015 6:36:54 PM
+8 Boost
The problem with that claim is that it takes a pretty SMALL Mercedes - and compares it to a fairly large Chevrolet.

Note that most high end German Premium Cars are less reliable than the Chevy - and certainly cost more to fix than a Chevy - you are not comparing apples to apples.


MDarringerMDarringer - 5/26/2015 7:18:29 PM
+7 Boost
The Chevy will be more reliable. If you must drive German, LEASE.


skytopskytop - 5/26/2015 8:39:28 PM
+1 Boost
Sure. Didn't you know that Mercedes has brought the 'free lunch' to America.


HughJassHughJass - 5/26/2015 9:24:22 PM
+4 Boost
Don't forget you'll also have to take out a mortgage each time you bring it in for scheduled maintenance. My friend bought a C class and his first maintenance job cost him $1200 for an oil change and tune up. Claims brake job was $600 (not sure what he had done), to me sounds overpriced for something you can do yourself for about $150 if its just the pads.

Then again, people who can actually afford a Benz generally don't care or worry. Also, who wants to overpay to drive around in something the size of a Fiesta just because it has a star on the grille.


W208W208 - 5/29/2015 8:00:44 PM
+1 Boost
So long as you're not treating the vehicle as an investment, but as an appliance, take it to the local tires plus.

I had a used 2005 CLK500. I took it to the dealer one time and said fk it thereafter when I saw the bill. I changed the oil every 3k miles at tires plus for $60 and the normal maintenance, and never had an issue with my car.

My next purchase will probably be a used X6, and I'll just find another local shop that is familiar with maintaining german cars.
The local shop was solid. They even replaced my front AMG rotars and pads at cost plus labor. Mercedes quoted something like $1600. Tires plus charged, if I can remember, about $500 at the time. Evidently a lot of the Merc, audi and BMW owners would go through their shop to get replacement parts for their out of warranty vehicles, at dealer cost.




USNA1999USNA1999 - 5/26/2015 9:45:50 PM
-4 Boost
Guys stop drinking the "Hatorade", hate the game not the players.
I purchased a C350 coupe last September (my second MB). I sold my LS 460 and got the C-Class. I could have purchased something more expensive (yes I afford it) but my cars sits at Wallypark at the airport for at least 6 month out of the year. I got a good deal on it, my personal experience with MB was the same as my LS460, about the same number of mechanical issues (not sure where that great LEXUS reliability is, I think its an urban story). Of course I could buy something way cheaper, I used to when I was younger and didn't have the money. But why go to McDonalds when I can go to Shake Shack? Why buy a Seiko when I can get a TAG? Why get an Accord when I can get a BMW or MB? That is why I opted to get educated and bust my behind. So I can afford the finer things in life. Of course I could get a doublewide if I just wanted shelter but no, I want to live on the golf course. This all comes to personal choices and what you can afford.
You don't think I pay out my behind every time that LS460 needed maintenance? But that is the choice you make when you want a "premium" car. Why buy a large SUV if you are going to be complaining about gas prices? Commenting about car size? I guess don't get a 911 which is the size of a Fiesta, lots of Fiestas for that price too.


HughJassHughJass - 5/30/2015 10:16:47 AM
+1 Boost
Why get sloppy seconds just because it has some makeup on it when you can get a new normal car that will last twice as long and cost less to maintain? If you want the finer things in life and can afford it, you'd just lease every 2 years, especially if your car is at the airport half the year. In that scenario, why bother even having a vehicle? Just rent a BMW when you need to.


HughJassHughJass - 5/30/2015 10:19:42 AM
+1 Boost
Also, we're comparing bare bones Benzes against fully loaded Chevys, not 911 GT3s against manual window Fiestas.



iamdabest1iamdabest1 - 5/26/2015 10:48:49 PM
+2 Boost
sometimes you have to be careful with amazing lease deals. the mercedes/ lexus i dont think is too bad to maintain...
try having an $800 per month maserati ghibli sq4 ( i think its cheap ) and then being told $500 for an oil change and at 15k miles you have to change brakes and rotors !!!!!!!!!! at $4,000 !!!

yea, glad i got out of my maserati, and looking forward to going back to bmw , my maserati party was fun while it lasted :)


TauronB2GTauronB2G - 5/27/2015 6:35:22 AM
+2 Boost
Yikes!
T


carloslassitercarloslassiter - 5/26/2015 10:48:57 PM
-1 Boost
I had a bunch of Chevys when I was younger. They all sucked, and after the last one flat died on the highway I swore I'd never, ever give GM another one of my hard earned dollars.


leejleej - 5/27/2015 3:48:42 PM
+1 Boost
Where are the thought provoking questions?...oh, there's one! :-)




TomMTomM - 5/29/2015 9:49:32 AM
+1 Boost
My first car was a 1939 Chevrolet Master Deluxe (Although I do not have it - it is still on the road) It never failed to start. My 1973 Mercedes 450SE spent more time in service than me driving it.

People who want the "prestige" of a Mercedes Benz will never be happy buying a Buick - much less a Chevy. However - people who can "JUST BARELY" afford the Mercedes - cannot really afford it when you add in repairs and maintenance - and INSURANCE.


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