LS430FL

PICTURES ON PAGE 2 POST #28 So I would like to pick up a third car. I went to Benz dealer and looked at cars. I have negotiated a deal on a 2012 CLS550 with 42,000 miles. It is fully loaded with every option (lane keep, blind spot monitor, night vision, contour seats, bak up cam, bluetooth, etc.). I chose a CLS because the body style has been virtually unchanged from 2012- now. It was a $90,000+ car new. 1 owner, no accidents, local car. I am putting $0 down, purchasing for 72 months. I usually keep my cars for 5 or 6 years. The car is certified pre owed so it comes with a 1 year unlimited mileage warranty. I got the price to $586 a month and this payment will include an additional 2 years of warranty unlimited miles. The car is 100% pristine condition. What are your thoughts on this deal and more importantly the car? I have negotiated the price of the car down to the point where I cannot find a comparable price for the year and miles on any major car sale site. Any thoughts positive or negative are welcome.

Toys4RJill

How many miles are on it?

LS430FL

42,000 sorry I'll edit the original post to add that.

Fizzboy7

What exactly was the for sale price and what are they knocking that asking price down to? It sounds like a nice car all around. A warranty is a must with any aging German car. I would not own one for any period of time without a full warranty. And even with that, probably expect a little out of service time due to various repairs that will pop up. So if you are okay with the reliability risks and have a warranty for every year you own it, then go for it.

Toys4RJill

Gonna say my piece, so please don't be offended.

This is a horrible idea. Not sure it if it is a good deal or not, bur the idea of paying a monthly fee for 6 years for a 5 year old car is not a sound idea. I simply do not see the logic that in the 10th of the car, you will be still paying car payments. I personally would rather have $42K than pay for a 5 year old car that will be 11 years old when I am done paying. I am assuming you are paying interest on the monthly payments as 0 percent is hard to find for a Mercedes.

Could you not settle for a newer GS or a 2 year old model? That I would say go for.

This a bad idea.

davyjordi

i have to agree with jill here. if the car were under warrantee for the entire duration of the loan period then perhaps i'd change my mind, but as is i think it's a bad idea.

Johnhav430

I actually like the look of the CLS.....

$0 down imho doesn't make any sense.....72 mos. is double what I would do....there's no mention of the interest rate or the price of the vehicle. $90k new seems to be the only information at all and that the payment is $586. The 90k is meaningless because 78k Audi A8L's are $12k today, they can be a fortune to repair.

But let's do this like back in HS with the SATs and work backwards on your deal. My CU for 72 mo. would be 3.49% on a used car. I'd rather do 1.99% on used for 36 mos. Based on a $586 payment, $38000 is being borrowed. Why I would not do this car is I was just looking at 2014 S550's online, and I would rather spend a few thousand more and have a newer car. Then, I'd put 60% down and do 36 mos @ 1.99. my .02

Johnhav430

If the interest is 3.49%, (72 mos. used), then the price was $38k. My sales tax is 6%, so if that were assumed, it would put this deal at $35,849.06.

Wandl

I'd never advocate a 72 month auto loan (depreciating asset and all) unless it was no other option, the average length of an auto loan in the US currently is 61 months. for a pre-owned vehicle I'd do 48 or 60 months; that said the CLS550 is a pretty decent vehicle. My only take is the reliability, the notion that you may face some repair costs while still making payments on the vehicle, especially with a lot of those electronic gremlins on a fully-optioned CLS car. Not saying no, but check out a few MB forums to see what ownership experiences others have had with the 2012-era CLS. Keep in mind it may be an astounding deal but it won't give you joy if it is unreliable; I'm not doubting MB (as far as I'm concerned they have better interiors and technology compared to the Lexus with a superior ride).....you just rarely see us Lexus owners griping on yet another mechanical issue like you would with BMW/MB and some Audi owners.

There is a reason MB CPO's only offer 1 year coverage (almost every other luxury brand offers 5-7 year from in-service date coverage)...

rogers2

ha ha Don't be concern about the reliable on the CLS. I use to own a CLS. A CLS is essentially a E class wrapping in a new body.
The car isn't going to give you much problems unless it was abuse. The problem is that your about to purchase a 4 year old car for 42k. If you were putting something down I would say go for it.
Life is short... if it's something that's going to bring a smile to your face. Go for it..586.00 isn't a lot money for a daily smile.

MB offer a 1 year CPO b/c they can get away with it. If you want a extend warranty please purchase one or buy another car.

DrRick

add about $2K to the financed price (you can only purchase it thru your loan originator) and purchase a Route 66 warranty. it will give you an additional 5 years and take you to 100k miles. $0 deductible, as well. most dealerships accept them, as well...

Aron9000

72 months on an already 5 year old car??? Man that's kind of extending yourself IMO, how bad are you going to be upside down if you want to sell the car in the next 6 to 24 months???

I'd also read, read, and read in the Benz forum about this car. The CLS is not a turbodiesel German taxi, there is a lot of complex stuff to break, air suspension, twin turbo V8, and 2012 was the first year for the new body style, so it might not have all the kinks worked out yet.

rominl

iTrader: (4)

72 months?! on a 2012 which means already 5 years old? 586 a month so that means over the 6 years you pay 42k.

i just can't seem to see how this is a good idea. i will be frank and say, if you can't afford to pay off a used car in 3 years, it's probably not a car for you yet

SW17LS

This is a very rare occasion where I agree with Jill, financing a car that old for that long isn't a good idea. I would even hesitate to finance a new car for that long.

I also am very concerned about you negotiating using the payment. That's never a good idea, and it's always so easy for the dealer to add profit. You need to negotiate the price, rate, costs and fees individually and the payment just comes out of that.

LexBob2

This. Not a good idea when buying a car. The dealers love it.