In detail: How do you finance a Mercedes-Benz? I'm interested in the 2007 convertible which is about $56,000. I am building credit right now since I am turning 19. Can you tell me about loans, monthly bills, down-payments, and everything else?
PLEASE SERIOUS INQUIRIES ONLY
2006-12-29 10:21:14 · 5 answers · asked by giggling_elephants 1 in Cars & Transportation ➔ Buying & Selling
the dealer can work out the financing for you.
however, unless you come from a rather wealthy family, i think that car may be a bit too expensive for a 19 year old. there is not only the cost of the car to consider, but also insurance, and upkeep of the car.
2006-12-29 10:26:07 · answer #1 · answered by nermil 5 · 1⤊ 0⤋
Are you sure you're looking for serious INQUIRIES ???
You will finance your car by applying for financing, (which is a loan). Financing applications can often be done through the dealership -- or-- you can go to your own bank. You will be required to produce a down payment, possibly a substantial down payment. You will be required to show sufficient income that is not already committed to something else, to make the payments. In fact, they will want to see your other commitments below a certain percentage of your income (like below 40% or below 30%). The finance company (or bank) will also require you to have insurance on the car.
At age 19, with no substantial credit history - the bank or finance company will nowhere near finance the whole purchase price - unless you have a FANTASTIC income. At your age -if you have NO credit history, they may even require you to have a co-signer for the loan.
2006-12-29 10:32:55 · answer #2 · answered by me 7 · 1⤊ 0⤋
I cant tell you how to finance such a expensive car, but i have to say, i have started a student credit card like a year ago, and paid all my bills ON time, and completely paid the bills of every single time EARLY. Also, i've never overdrawn myself or anything. However, even though I did all of that, by the end of the first year, my credit was good enough to finance a car worth 15,000. *meaning max i can get is a 15,000 car with monthly payments...* So you might need more time building your credit to buy such a fancy car in increments.
2006-12-29 10:26:43 · answer #3 · answered by lalala 3 · 0⤊ 0⤋
FINANCIAL FREEDOM IS ACCOMPLISHED BY SAVING ONLY AND BUY INVESTING... PLACE YOUR MONEY FOR BEST RETURNS ( Cd's money market mutual funds no stocks its always a gamble WHEN YOU HIT 21 YOU SHALL BE MORE EQUIP !!
THIS HAS BEEN NO SECRET ( $$ )
WHEN A FAMILY MEMBER GOES HOME THIS $$ SHALL PASSED ON TO THE NEXT AND SO ON... RESULTING IN THE TERM (( OLD $$$$ ))
2006-12-29 10:49:33 · answer #4 · answered by ROBERT E 1 · 0⤊ 0⤋
MB's are nice. You can try dealership financing if you qualify of go to a Bank. GOOD LUCK!
2006-12-29 11:46:00 · answer #5 · answered by ? 7 · 0⤊ 0⤋