In general, a good rule of thumb is to aim for 10% down for used cars and 20% for new vehicles. For example, if the new car you’ve settled on costs $25,000 and you want to make a 20% down payment, you’ll need to save $5,000.
Is saving up for a car a good idea?
Why should I save for a car? The more money you’re able to put into a down payment, the less you’ll need to borrow and the lower your monthly payments could be. Having lower monthly payments can allow you to put more money into other obligations, like your rent or mortgage, student loans or credit card debt.
Can I negotiate the price of a new Mercedes?
Knowing the dealer cost of a new Mercedes-benz gives you needed leverage when it comes time to negotiate a great price. Negotiating from the cost up and not the MSRP down can save you thousands on your next purchase.
What are the benefits of owning a Mercedes?
Why Should You Go for a Mercedes Benz?
- Top-Class Safety. There is a reason why a Mercedes Benz is considered one of the safest vehicles.
- High Resale Value. Mercedes-Benz vehicles have always been known to have strong resale values.
- Status Symbol.
- Smooth Ride.
How much should I save up for my car? – Related Questions
What are the disadvantages of buying a Mercedes-Benz?
The Cons
- Maintenance Charges. Maintenance charges for a used Mercedes-Benz might cost you a fortune.
- Fuel Consumption. Older Mercedes come with fuel-thirsty engines.
- No Guarantee – Warranty. An older Mercedes might not come with the precise guarantee or warranty.
What is the most common problem with Mercedes-Benz?
Engine misfires are one of the most common problems we see in Mercedes-Benz vehicles. This scenario often happens to cars that haven’t undergone any routine maintenance, particularly the replacement of wear parts such as spark plugs.
Do Mercedes last longer than other cars?
While some models are better than others, Mercedes is considered average overall when it comes to reliability. As with all cars, proper maintenance and responsible driving will extend the life of your vehicle. Mercedes is ranked 27 out of the 32 major car brands when it comes to reliability.
Are repairs on a Mercedes expensive?
As a high-end brand with decent reliability ratings, Mercedes-Benz are more expensive to upkeep than the average car on the road, with yearly maintenance costs averaging $908.
What is considered high mileage for a Mercedes-Benz?
The Mercedes-Benz Classic High Mileage Award is presented to owners whose vehicles have logged 155,000 miles or more, as verified by an official Mercedes-Benz dealer representative.
Is it safe to buy a Mercedes?
Renowned for its impeccable build, sophisticated exteriors, and luxurious interiors, Mercedes is one of the most trusted brands in the luxury vehicles space. Thus, you can count it a safe investment to purchase a Mercedes Benz Second Hand.
Is it expensive to own a Mercedes?
Mercedes-Benz maintenance costs are pretty expensive compared to other brands. In one study by YourMechanic.com, it came in second place just behind BMW’s maintenance costs. Drivers pay about $908 on average per year to maintain and repair their Mercedes vehicles, according to RepairPal.com.
Is Mercedes a good first car?
Mercedes-Benz motor vehicles are excellent cars and as such would make a very good first car. The main stumbling block here is the cost. Mercedes-Benz vehicles are not cheap and as such fall outside the wheelhouse of many consumers.
At what mileage do Mercedes start having problems?
At what mileage do Mercedes start having problems Certain Mercedes-Benz cars start as early as 50,000 miles, while others wait until 100,000 miles before having minor problems. Therefore, when it comes to reliability and performance over a long time, the Mercedes-Benz car model you chose is crucial.
How long will a Mercedes last?
Most Mercedes last between 150,000-200,000 miles, or 10 – 13 years (assuming an annual mileage of 15,000 miles). The Mercedes E-Class is known to have better longevity, and may last 200,000-250,000 miles, or up to 17 years. The Mercedes C-Class is reported to have the shortest lifespan.
Can you use regular gas in a Mercedes?
While regular unleaded gas shaves a few dollars off filling up your tank, Mercedes-Benz engines require premium gas due to their high-compression ratios. This means using regular gas may lead to costly repairs. To avoid more repair bills outside of scheduled service, you should always fill up with premium fuel.
Do Mercedes last longer than BMW?
The J.D. Power 2021 Vehicle Dependability Study assessed 2018 models of the world’s most famous brands, noting number of problems per 100 vehicles. BMW came 11th with a score of 108 issues. Mercedes-Benz ranked 15th with 122. So it’s very close, but BMW looks to fare best of the two for reliability.
Is Audi or Mercedes better?
While Audi and Mercedes-Benz both have an impressive lineup of luxury cars, the simple fact is that when you compare Audi vs. Mercedes-Benz reliability, Mercedes-Benz can’t be matched. In general, Mercedes-Benz models offer stronger engine options, higher efficiency, and more interior features.
What car brand is most reliable?
The most reliable car brands – and the least
- MG. Reliability rating: 95.7%
- Kia. Reliability rating: 95.8%
- Mazda. Reliability rating: 95.9%
- Mitsubishi. Reliability rating: 96.9%
- Dacia. Reliability rating: 97.3%
- Lexus. Reliability rating: 98.7%
- Alfa Romeo. Reliability rating: 86.5%
- Land Rover. Reliability rating: 82.5%
Which is cheaper to maintain Audi or Mercedes?
Mercedes-Benz vs. Audi maintenance cost: Mercedes-Benz vehicles cost $12,900 to maintain, $500 more than Audi.
What’s the most expensive car to maintain?
According to the most recent data, BMW tops the list as the most expensive car brand to maintain, followed by Mercedes-Benz, based on estimates of total car maintenance over 10 years.