Thoughts on Downgrading Mercedes-Benz C43

paraneoplastic on 15/05/2020 - 16:28
Last edited 15/05/2020 - 17:20 by 1 other user

My situation:

Bought a 2017 C43 shortly after the car was released for $115k on a notated lease with a balloon of $57k this August. The car has been great but has depreciated substantially over the past 3 years as i happened to buy the car 4 months prior to the MY18 face lift :(. Current selling price is ~$65k. Warranty also expires in August. And I'm expecting do do around 55,000 to 60,000km by the end of the lease (at 46k now).

I'm stuck on whether i should refinance the car with a novate lease (and pay the balance down to 0) and keep it for another 4 years - but run the risk of out of warranty repairs + trouble in selling a high mileage AMG (would end up with around 120 - 130k on the clock) or if i should downgrade the car to a 2019 VW Golf R which is selling ~$35 - 40k - will have warranty till 2024 and I can run it to the ground and still be able to sell it for a decent price in 4 years time.

The reason for not getting an even cheaper car is, "spirited' driving is my way of dealing with stress after work. So I

Some thoughts would be appreciated.

Automotive

Comments

    • Hksmaso69 on 18/05/2020 - 17:38
      +1

      The 40k one is a write-off too FYI you could negotiate it to probably the 37k mark

      for 45k he will get one with 30k km

  • whoopdeedoo on 18/05/2020 - 14:25

    sell it and get a 2011-2013 c63 (facelift) :)

  • Enfield1212 on 18/05/2020 - 20:26

    I bought a Mitsubishi Evo 6 in 2010 for 20k nzd, it is still worth 15-17k atm.

    • paraneoplastic on 18/05/2020 - 23:55

      Wow that's cheap for a car 20 kiwi fruits, nice!

  • Gebb on 18/05/2020 - 22:04

    Well I think this has swung me to move on my A45 and grab a new golf

    • paraneoplastic on 18/05/2020 - 23:55

      was it a facelift A45?

      If not you must've got stung just as badly with rapid depreciation

      • Gebb on 20/05/2020 - 19:29

        FL, paid $80k and has been an awesome car, Can get a golf and tune for the next 3yrs until Australian Gov provides some decent electric incentives and then a Tesla.

  • zrmx on 18/05/2020 - 23:07
    +2

    Feel like you should've made a poll post OP, lol.

    Golf R for lower (?) initial + running cost.
    S3 if you want a "better looking" badge than the R (although some might laugh at/debate this).
    Any spare cash, try out the upcoming Toyota GR (Yaris mainly) for some fun.

    Or test drive all the cars you have in your mind, then go drive a Toyota Camry for a month and see which car you crave the most and you'll have your answer. (Warning: you might stay on the Camry after being converted by its Zen)

  • thermos on 19/05/2020 - 00:41
    +5

    I bought my Golf R 7.5 new this year and had it for around 6 months. It was the dullest car I have ever owned, I felt it had no soul/character.

    It was like I was an accessory to driving the car and this was vastly different to the Golf Mk5 GTI that was engaging and fun to drive.

    I remember when I collected the Golf R, my wife said it looks like a $25k golf. Others made the same disapproving comment. Therefore, If you are enjoying your C43 and you can afford it, keep it, as it least it looks the part.

    • JimB on 26/05/2020 - 16:11

      That's interesting about the Golf R being dull.

      I've never driven a Golf R but I have owned a Mk5 GTI for 11 years.

      I'm looking to replace it but with Covid 19, can't justify it, plus with 190k on the clock, who is going to buy it? So I'm planning on keeping it for another couple of years, it can't depreciate much more.

      Question is, why did you buy the R?

  • mychips on 19/05/2020 - 07:49

    Wow, crazy depreciation.

    Why not consider a cheaper option like an i30N Line.

  • Jamesrulez1 on 19/05/2020 - 09:27

    Did you negotiate for a discount on driveaway price?

    Depreciation isn't as bad when you shave off 15-25% of the purchase price when purchasing a luxury car.

  • thanatos350 on 19/05/2020 - 12:37

    While I probably wouldn't have dropped the same amount of cash on a car, I can't say that OP has done something unheard of.

    I live in an area with a lot of wealthy people, as well as a lot of people who want to appear wealthy. There are so many young people driving around in luxury vehicles and I highly doubt that all of them are in positions that pay well enough for vanity items.

    It's kind of funny that the well off people I have met tend to get around in the most beige, reliable vehicles possible to minimise expenses and to place their money in other investments.

    In saying that, if OP keeps the car, it will always be a $115k car to him. It will be a nice reminder that your hard work has paid off. If you sell it, you'll only ever think of it as something that put a hole in your pocket.

    • Circly on 19/05/2020 - 14:09

      Depends, i think people that earnt their wealth are more likely to show it off while those that inherited it are more quiet about it.

      • May4th on 19/05/2020 - 15:08
        +2

        I seem to see the opposite. People who came from nothing and made their fortune with their bare hands tend to remember their roots and old habits die hard. Whereas those born with golden spoons who does not know what it means to work for money tend to be liberal with their cash

  • netjock on 19/05/2020 - 14:13

    The reason for not getting an even cheaper car is, "spirited' driving is my way of dealing with stress after work.

    Buy a Carolla Hybrid. Invest the difference and do laps at the go kart track. Much cheaper!

  • keishton on 19/05/2020 - 15:26

    sell it and get a decked out kia cerato.

  • mixgrill on 20/05/2020 - 13:04

    Suzuki Swift Sport

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