Well, after much thought and deliberation, I have decided to upgrade even farther than I originally thought (instead of going to an SRT6). I have come to the forum, as I have many times in the past, for advice. I have my eyes set on a C55 AMG with 30K miles on the clock, clean as a whistle, for $24,750. The dealer would only come down $250 on it because of the low miles and the rarity.

My situation - graduated in Dec.09 - been working 5 months at a defense contractor - ready to upgrade and try to salvage what little value my Crossfire has left in it.

The dealer is willing to give me $6800 on the 2004 Limited Crossfire - SSB, 75K miles, tires need to be replaced in 2000 miles, curb rash on rims, small dent on rear passenger side quarter panel (no paint damage and most people don't notice it). I have been trying to sell my car on cars.com for $8800 for the past month and have not gotten one single e-mail. Not even one!

I would be taking out a car loan for 60 months and $18K from Pentagon Federal Credit Union with a 3.99% rate for a total of $331/month which covers both the car and insurance premiums with USAA for six months.

I love the AMG look and the C55 has been my dream car since it came out, previously my dream car was the C32. But what I really like is the space the c-class provides as the Crossfire is beginning to feel a bit cramped (it is my daily driver), as well as the familiarity of the C55 engine bay and parts to the Crossfire's engine bay - since I know my way around there very well.

I have no credit (just applied for a credit card) so my father is willing to cosign on my loan. Given that I am about to move out, my dad and I have discussed the possibility of it being difficult for me to rent a place (I am going to be living with two other young working professionals - also my buddies) if I have a car loan. If I can verify my income to a possible landlord, I was thinking maybe my not having credit yet would be minimized?

The car payment fits in easily with my budget, and so would a rent payment. I love the car and am ready to make the leap, but I would love some input on
A) the trade-in value of the Crossfire (abysmal obviously)
B) the choice on a C55
C) the price on the C55
D) is this unusual to be taking a car payment and rent payment (probably around $700-$800/mo.)?

I am a car nut (obviously - I am on this forum), and have done all the maintenance on the Crossfire myself (brakes, oil changes, lights, filters), and would do the same with the Benz.

Any input is greatly appreciated.

NOTE: This is a re-post from the SRT-6 forum at the end of a thread I started a while ago when I was going to move to an SRT-6. But I figured getting the opinions from members of the 'hallowed-halls' of the Crossfire Coupe forum would be members who could more easily relate to my situation.

 

Personally I'd pass, granted it has a V8 and a back seat, but it's just barely more than what the SRT6 puts out. 370hp out of a V8 with all that extra weight just doesn't make sense to me. It is a nice car though so either way you go you're getting a nice ride.

When you make your decision remember that you're still welcome over here at the Crossfire forum.

 

In addition to your reasoning ThirteenDog, there is a substantial price upgrade from an SRT to the C55. However, the more I thought about it, I had a hard time convincing myself if I was going to upgrade, to essentially go with a car with 10 year old technology. I am by no means dissing the Crossfire or the SRT-6 but they are built on the old MB R170 tech. and I can clearly feel the age when I ride in my Crossfire and then drive the C55. The fit and finish just seems much more up to date, as well as the steering and the ride.

 

No worries there, get the car that makes you happy. Like I said either way you're getting a good car. Post pics when you pic it up.

 

I don't believe there was that much love for the C55 from the auto magazines when it was released because there wasn't a appreciable performance increase over the C32. But if you get the C32 you could still hang out in the SRT-6 forum!

 

I know it seems kind of ridiculous that the upgrade from a V6 in the C32 to the V8 in the C55 only brought about 15 more horsepower. I believe Mercedes' logic was to compete directly with Audi who had replaced the S4's V6 with a V8. I have done a lot of research on the C55 and while it never won many comparos against the likes of the comparably aged M3 or S4, there is something about the Mercedes build and reliability that I came to love with the Crossfire. I just always felt confident that the car would start thanks to the sound mechanics and quality of the MB engine and parts. That, and the fact that I now feel comfortable with the Mercedes build and parts having worked on my car frequently. I believe the C55's engine bay is very similar to that of the C32's, and in turn the SRT-6s and SLK32s. The V6 engine was simply swapped for a V8 but much remains the same. Someone please correct me if I am wrong?

 

By the way, does $331 a month (includes insurance) seem like a respectable car payment? I mean of course this depends on personal income and what not, but this is my first car payment and I am trying to gauge if I am paying more than the average joe. Obviously this is a mercedes not a ford, but it is a used mercedes after all.

 

The car payment/insurance sounds right for 18k at 3.99% interest. Between the c32 and the c55 I think the c55 looks better. I don't think you're really getting negative opinions. We all seem to be of the mindset "get what makes you happy"

 

No I appreciate the responses. I guess I just came here to discuss what has been on my mind as I don't know many 'gearhead' types like myself to bounce my thoughts off of.

 

let me crush all those happy thoughts! NO CAR PAYMENTS!! if you cant afford it you cant have it. NO CREDIT CARDS!!! play with snakes and you will get bitten. your young and starting off wrong. keep the 6 pay it off if you owe and save for the 55. with no debt and a good job money comes fast and within 2 yrs you could have enough to pay cash for a nice sedan and let me tell you the deals come fast and often when cash is offered . just my .02

 

'i'm 65 and have always paid cash for my cars. Obviously I have limited myself to nice used cars. Leasing or car payments means your wasting money just to be able to have something now that you would have to wait a long time to buy outright. You have to decide if it is worth it.

Car dealers, with few exceptions, will give you HALF of what they will resell your trade-in. In your case, $6800 is about right or even generous, from my experience. Mentally deduct the $8500, you felt your Crossfire was worth, from the c55 price and see if you feel comfortable with the deal. Remember, this is before dealer "fees" and taxes. I assume when you lease or buy on payments this money is somehow factored in?

Good luck on whatever you decide.

I just searched for c class 55 AMG and could not find many. With the low milage The price may be reasonable. I found more SRT 6's for sale!

 

Thank you for your input. But let me run this argument by you and play devil's advocate to the traditional style of 'waiting and saving'. In a year or two I plan to put a down-payment on a house, possibly getting hitched, and so on and so forth. I figure that in five years the prospect of getting my dream car would be somewhat diminished from the amount of bills/whatever I will be paying at the point in time (god forbid kids). I am young and can afford to be a little selfish now, is that so bad?

I know ultimately this is my decision, but last night I spoke with a loan officer who basically told me to put all my selfish desires away (car payments on a C55, renting with my friends) and simply put a down payment on a house and start reaping the benefits of homeownership. You are only young once, and I figure I will live it up for at least a year (by living it up I mean getting a car payment and renting a place).

And yes that C55 is priced very competitively in relation to all other C55s for sale with 30K miles. And I believe the offer of $6800 is a decent enough offer given the 75K miles on my Crossfire and their horrible depreciation.

 

NOTE: The Crossfire is completely paid off. Bought it for $15K in May 2007 with 49,500 miles on it.

 

Hmmmm.... you have asked the elders for their advice. They have stopped.. looked over their shoulders..... sat down to share with you what they have seen and learned in their lifetime.....
Givens in life....
What is your plan is not necessarily what is going to happen. Just ask all those companies, NASA, etc. who are out of or going out of business.
We certainly don't know where the economy is going to go in the next 24 months - we hope improve.
Daily driver cars usually decrease in value.
Houses can be purchased right now with great savings (savings =money in your pocket = more play money later).
Buy low (your home) and sell higher = make money.

Money in the bank or a car in the driveway, hmmmmmm. You already have a great paid for XF that you know all about. The elders are recommending that you bite the bullet and spoil yourself - live life with less stressors - no car payment, money in the bank and a beautiful home!
Just my $.02. It's not an easy decision - good luck.

 

I think that the very fact you asked for opinions indicates that you know the answer already, but hoped that you had made the wrong decision and wanted us to say "go ahead and borrow the money".
You do not need debt at this time, you have a car that is paid for and you will lose $7,000 - $8,000 when you trade it and lose more on the AMG the second you sign on the line.
Enjoy your debt free status, there are many on this forum who wish they could enjoy a similar situation.

 

I agree "the elders" have spoken and appreciate the input. Wouldn't you agree that my Crossfire's value is only going to go down further. Yes I would be taking a $7000 to $8000 dollar loss, but if I am going to eventually upgrade, shouldn't I get what little value is left from it? With 75,000 miles on the clock now, another two or three years and the car will have over 100,000 miles and will be valued at much less. That being said, in that time I may have a mortgage payment and highler living expenses. I see the logic to sitting on the Crossfire and not upgrading, and the math certainly makes sense to me. That being said, didn't anyone in this forum take out a loan on their Crossfire and not regret it? I understand the argument that I have a Crossfire already and should be satisfied, however, it seems to me that many members on the forum may have gotten a loan to afford their Crossfire because they were not satisified with their previous vehicle, and have enjoyed the vehicle immensely despite the car payment.


I work at a small and growing defense contractor and make a good salary per year - so barring a catastrophe I hope to have my job for many years and be able to afford the payment and hopefully pay it back earlier than the preset loan period!

 

Plus I figure if I really come to dire straits in the next few years before the car is payed off, the C55 will hold its value better (anything has to hold its value better than the Crossfire). I would of course take a loss but it wouldn't drop 65% in value within less than three years.

 

Having been around the Eurocharged guys and seeing them do some work on a C55 I would say from a performance stand point it is not your best option. If you are looking for a high performing vehicle that is also a sedan or carries a MB label, I would look at the E55. They have a much larger maintenance and performance support base and also provide you the luxury and performance you are seeking. There are several E55's making over 500whp. I know they can be had for around $30k with relatively low mileage 30-40k. This would seem like a much better option if you do infact want to make the jump to MB. Any repair costs would be relatively the same between the C55 and E55 (w/ the exception of the supercharger on the E).

This is my $.02.

I am not against car payments as some people are, but I do firmly believe in only buying something that you can easily afford. Good luck withe everything. Let us know how it turns out.

 

OK, you will lose $8,000 on the Cross, sign that paper and you have lost at least $5,000 again. Try it, sign the paper and ask the salesman to buy it back.
Cars are a sure way to lose money, look after the Cross and run it into the ground, that way you get your monies worth out of it. Over your lifetime you will spend a fortune buying cars whenever you get the urge, save the money and buy a house.

 

Two threads on the EXACT SAME THING??