How to Purchase a Mercedes

Purchasing a Mercedes requires planning and funding.

Mercedes vehicles are among the top luxury vehicles available on the market. However, although it is considered a luxury manufacturer, Mercedes has also started making models that are in a more reasonable price range, ranging from around $30,000 to $40,000 dollars. There are also used Mercedes vehicles available for less than a new model.

Instructions

1. Decide between a new or used Mercedes vehicle. There are benefits and downsides to both options. A new Mercedes has not been driven by others and has the latest technology in the vehicle. It is also more expensive. A used Mercedes might require expensive repairs, but it costs much less up front.

2. Write a budget plan. Whether purchasing a new or used Mercedes, a budget is an important part of the process. This determines how much you have available to buy the vehicle and eliminates any Mercedes that are too expensive. Determine the maximum amount you can afford for monthly payments based on the amount of your current bills and debts along with the amount of money you make on a monthly basis.

3. Save a down payment. Buying a Mercedes requires putting some money down at the time of purchase. The exact price will vary based on the price of the vehicle, personal credit scores and the dealership. Talk to the dealer to find out the percentage or price required as a minimum down payment.

4. Obtain financing. Dealerships will often offer their own financing or obtain a loan from a bank. The best financing options depend on the interest rates available. For example, a dealership might offer interest-free rates for one year, but then charge high interest rates afterward, making the Mercedes too expensive. A loan from the bank will have interest applied immediately, but might have lower interest rates in the long term. Shop around to find the best interest rates available.

5. Buy the Mercedes. Fill out the paperwork, pay the down payment and obtain the keys from the dealership.

Tips & Warnings

• Remember to set aside enough money for sales tax, which will vary by state.

References

• Auto Buy Guide: Used Mercedes-Benz
• Car Price: Buy New Mercedes-Benz
• Danwei: One More Reason to Buy a Mercedes