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Unread 06-05-2013, 10:07 AM   #46
Balvar24
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Quote:
Originally Posted by Achped View Post
Just wanted to update this thread.

I sold my motorcycle, got way more than what I expected. Used that money to pay off both credit cards and pad my savings account a little.

I think I'm also going to sell my Mercedes and my Jeep and pay cash for a 2 year old Hyundai and rock the 35mpg, 5 year bumper to bumper warranty and just stack currency in the bank and pay cash for some cheap Fannie Mae starter home in the hood.
That sounds like a good plan. Nothing wrong with toys and new stuff as long as it's paid for.

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Unread 06-07-2013, 08:16 PM   #47
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PAY YOUR DEBT! You'll soon grow up and realize down the road that you should of payed your debt. Future House, Kids, etc.
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Unread 06-10-2013, 09:25 AM   #48
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Uh oh - problem.

I have a 2006 Mercedes, 72,000 miles. It needs a $3000 transmission repair.

I can pay the $3000 now, fix the car and then it may last me another 5 years. That would be great.

But I could pay the $3000 now and next month it needs a new camshaft or who knows what.

How the heck do I decide to toss the car and get a new one or keep it and fix it? Obviously a $3000 repair is cheaper than a $18,000 car, but I'm not dumping $18000 all at once. I've gotten pre-approved for a $20000 car at 2% for 6 years.

My gut is telling me to fix the Mercedes, but my wallet is telling me to get a new car.
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Unread 06-10-2013, 11:49 AM   #49
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Quote:
Originally Posted by Achped View Post
Uh oh - problem.

I have a 2006 Mercedes, 72,000 miles. It needs a $3000 transmission repair.

I can pay the $3000 now, fix the car and then it may last me another 5 years. That would be great.

But I could pay the $3000 now and next month it needs a new camshaft or who knows what.

How the heck do I decide to toss the car and get a new one or keep it and fix it? Obviously a $3000 repair is cheaper than a $18,000 car, but I'm not dumping $18000 all at once. I've gotten pre-approved for a $20000 car at 2% for 6 years.

My gut is telling me to fix the Mercedes, but my wallet is telling me to get a new car.
What is the symptoms if there are any?

I think you are being BS'd by whomever looked at it. If it is a 'stealership' get your car out of there ASAP.

Let's see what we have here...a Mercedes Benz tranny goes bad at 72,000 miles??? Sounds awfully fishy to me.

If it is still running and driving take it to ANOTHER tranny shop and ask them to perform a D&C on it.
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Unread 06-10-2013, 12:43 PM   #50
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Why does it need $3000 of work?

And why buy an $18000 car? Why not $5000?
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Unread 06-10-2013, 01:03 PM   #51
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Why does it need $3000 of work?

And why buy an $18000 car? Why not $5000?
It all about selling new vehicles. Some person with low credit ratings can buy a brand new $25,000 car with little or no DP BUT the same person can't get a loan for a $5,000 used vehicle. It happens all the time.

In fact that is what collapsed our housing market. The financial bandits extended credit to people who could not possibly continue to make payments over time. They would often sell that debt ASAP usually the next day. In the fever of buying this 'bad paper' no one looked at the metrics. It was unsustainable and the housing market collapsed.

That is the financial 'quicksand pit' that many folks step into when they have poor spending habits. Your 'potential for debt' is often much higher than what your safe debt limit is.


Here is my take on things. The OP (no offense OP) owns a car he cannot afford to maintain. He should probably have bought a used Ford Focus, but he didn't. Now this luxury vehicle has taken the luxury out of his life for a lousy 3K....
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Unread 06-10-2013, 02:21 PM   #52
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It sounds like he has a decent paying job. If he can consider paying $3000 in repairs on the Mercedes, he can afford to buy a cheap car. It doesn't need to be $5000, that was just an example.

I don't think the car finance business ever had anyone backed in to a corner like the housing finance business did. When it comes to cars, I think (i mean, I know) people use what they can/can not get financed for as an excuse to spend money. There have always been cheap cars, there have not always been cheap houses. If you can afford payments on an $18,000 car plus full coverage insurance, then you can afford to save up quickly to pay cash on a cheap car. When I didn't have money, I drove crappy cars, I didn't go get financed for $18,000.

Regardless, I doubt the car needs $3k in work. Especially at 72K miles! He should get a second opinion or do the work himself. I would fix it, and then ditch it. Who wants to usher German Engineered car to 100,000 miles?
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Unread 06-10-2013, 02:28 PM   #53
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Wait a minute. In post 30, it was a 2007 with 36,000 miles on it. Now it's a 2006 with 72,000 miles???
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Unread 06-10-2013, 04:25 PM   #54
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Originally Posted by bobjp View Post
It sounds like he has a decent paying job. If he can consider paying $3000 in repairs on the Mercedes, he can afford to buy a cheap car. It doesn't need to be $5000, that was just an example.

I don't think the car finance business ever had anyone backed in to a corner like the housing finance business did. When it comes to cars, I think (i mean, I know) people use what they can/can not get financed for as an excuse to spend money. There have always been cheap cars, there have not always been cheap houses. If you can afford payments on an $18,000 car plus full coverage insurance, then you can afford to save up quickly to pay cash on a cheap car. When I didn't have money, I drove crappy cars, I didn't go get financed for $18,000.

Regardless, I doubt the car needs $3k in work. Especially at 72K miles! He should get a second opinion or do the work himself. I would fix it, and then ditch it. Who wants to usher German Engineered car to 100,000 miles?
We think alike. The Mercedes is not for the average man to own or maintain. They are like BMW's.....overrated money pits.

I drove less than what I could afford in my early years and bought a home at 24 years of age instead, while some of my buddies were going to rock concerts in the Caribbean Islands. Now I can drive whatever I want, but, I still keep my '01 WJ with 105K original owner miles on it and a '95 YJ that gets about 1600 miles a year put on it.

Easy credit works like the first free taste of drugs. It never works out well for the user.

The OP STILL has not mentioned what the problem(s) are with the tranny in his Mercedes.

BUT if he could drive it into the mechanic's bay and then drive it home makes me wonder just what is 'wrong' with this tranny that a simple D&C would not fix.
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Unread 06-10-2013, 04:43 PM   #55
Achped
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Originally Posted by laybackman View Post
It all about selling new vehicles. Some person with low credit ratings can buy a brand new $25,000 car with little or no DP BUT the same person can't get a loan for a $5,000 used vehicle. It happens all the time.

In fact that is what collapsed our housing market. The financial bandits extended credit to people who could not possibly continue to make payments over time. They would often sell that debt ASAP usually the next day. In the fever of buying this 'bad paper' no one looked at the metrics. It was unsustainable and the housing market collapsed.

That is the financial 'quicksand pit' that many folks step into when they have poor spending habits. Your 'potential for debt' is often much higher than what your safe debt limit is.

Here is my take on things. The OP (no offense OP) owns a car he cannot afford to maintain. He should probably have bought a used Ford Focus, but he didn't. Now this luxury vehicle has taken the luxury out of his life for a lousy 3K....
Why would I take a loan out for a $5000 car when I can pay cash for a $5000 car? My credit score is excellent. Above 750. How many 20 somethings can say that? (I'm sure you know hundreds of them. I know, I know...)

Quote:
Originally Posted by bobjp View Post
Wait a minute. In post 30, it was a 2007 with 36,000 miles on it. Now it's a 2006 with 72,000 miles???
2007 was erroneous. It is an '06. And yes. You can add 36000 miles to a car in 4 years. That's how long I've owned it. What are you getting at?

Quote:
Originally Posted by bobjp View Post
It sounds like he has a decent paying job. If he can consider paying $3000 in repairs on the Mercedes, he can afford to buy a cheap car. It doesn't need to be $5000, that was just an example.

Regardless, I doubt the car needs $3k in work. Especially at 72K miles! He should get a second opinion or do the work himself. I would fix it, and then ditch it. Who wants to usher German Engineered car to 100,000 miles?
I have a decent paying job. But I am beginning to be irritated by the replies at my supposed lack of credit, lack of research abilities, and overall naiveness.

These cars are, apparently only recently, becoming known for failing transmissions passed 60,000 miles. Some people even took Mercedes Benz to court in a class action suit over it. What's worse is that only the dealership can fix the transmissions - Mercedes will not sell the repair parts to indy shops under the guise of "theft prevention".

So $2000-$3000 is the norm to repair the transmissions. Indy shops cannot perform them - they can't even get the parts to perform them. It is a control plate and some solenoid that is on the top of the transmission. What would you like me to do?

Again - if I fix the transmission, which from most of what I've read should last at least the life of the car. The new part has been improved. I could easily get another 5 years out of this vehicle. Upkeep is expensive, but its a paid off Mercedes and a car that you own 99% of the time is cheaper to maintain than to replace.
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Unread 06-10-2013, 04:59 PM   #56
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Why would I take a loan out for a $5000 car when I can pay cash for a $5000 car? My credit score is excellent. Above 750. How many 20 somethings can say that? (I'm sure you know hundreds of them. I know, I know...)



2007 was erroneous. It is an '06. And yes. You can add 36000 miles to a car in 4 years. That's how long I've owned it. What are you getting at?



I have a decent paying job. But I am beginning to be irritated by the replies at my supposed lack of credit, lack of research abilities, and overall naiveness.

These cars are, apparently only recently, becoming known for failing transmissions passed 60,000 miles. Some people even took Mercedes Benz to court in a class action suit over it. What's worse is that only the dealership can fix the transmissions - Mercedes will not sell the repair parts to indy shops under the guise of "theft prevention".

So $2000-$3000 is the norm to repair the transmissions. Indy shops cannot perform them - they can't even get the parts to perform them. It is a control plate and some solenoid that is on the top of the transmission. What would you like me to do?

Again - if I fix the transmission, which from most of what I've read should last at least the life of the car. The new part has been improved. I could easily get another 5 years out of this vehicle. Upkeep is expensive, but its a paid off Mercedes and a car that you own 99% of the time is cheaper to maintain than to replace.
Don't get upset with us. We do not know ANYHTING about you or your Mercedes. In addition, we have virtually no information about your vehicle.

Simply put; You complained about the $3,000 cost to fix a tranny on your Mercedes as if it was too expensive for you to do. And we STILL do not have any information from you, concerning exactly what is the problems/symptoms of this problematic tranny you are *****ing about.

So getting pissy with anyone who is attempting to answer your question is not going to help you is it....
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Unread 06-10-2013, 05:07 PM   #57
Achped
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Originally Posted by laybackman View Post
Don't get upset with us. We do not know ANYHTING about you or your Mercedes. In addition, we have virtually no information about your vehicle.

Simply put; You complained about the $3,000 cost to fix a tranny on your Mercedes as if it was too expensive for you to do. And we STILL do not have any information from you, concerning exactly what is the problems/symptoms of this problematic tranny you are *****ing about.

So getting pissy with anyone who is attempting to answer your question is not going to help you is it....
It gets "stuck" in 4th gear or so. You have no acceleration. It doesn't downshift, it doesn't upshift. You have no idea when it happens except for the sudden jerk if you're driving. If you're not driving, you will accelerate out of a red light or something and all of a sudden realize you have no power.

It happens about once a week.

$3000 is not too much to shell out. In fact, it may only be $2000. I'm allowing breathing room.

My point is that as it sits I cannot ethically sell it without disclosing the issue - meaning I'd probably get $4000 for it tops. Two weeks ago I was at Carmax and they offered me $9500. That's upsetting. I could still get $9500 but I'd have to dump $3000 for the transmission.

Also, I'd love to buy a used $3000 car. But I'm not about to buy a $3000 car only to dump $5000 into it. That doesn't make sense and that has been my experience when buying older vehicles. Now I will gladly shell out ~$15000 if it means I will get a few years of worry-free warranty coverage...but I've been driving my Mercedes for 4 years and paid no repair costs so this "can't afford the upkeep" stuff is pretty much garbage. I allot $2000/yr for maintenance on my car. Considering I use maybe $500-1000 year for tires/oil/etc, I'm well under my allotment average.

I'm the 2nd owner. I bought it at 25000 miles in 2009. Its been meticulously cared for. I know its been maintained to the millionth degree. I know it will probably run for a hundred thousand miles without much more work. But theres always a chance next month it may need a $15,000 motor replacement. Who knows. This is why I liked warranty'd vehicles and the only reason I'm considering getting rid of it.

For the record - if a similar issue happened in a Jeep auto tranny the repair costs would be quite similar.
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Unread 06-10-2013, 05:17 PM   #58
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It gets "stuck" in 4th gear or so. You have no acceleration. It doesn't downshift, it doesn't upshift. You have no idea when it happens except for the sudden jerk if you're driving. If you're not driving, you will accelerate out of a red light or something and all of a sudden realize you have no power.

It happens about once a week.

$3000 is not too much to shell out. In fact, it may only be $2000. I'm allowing breathing room.

My point is that as it sits I cannot ethically sell it without disclosing the issue - meaning I'd probably get $4000 for it tops. Two weeks ago I was at Carmax and they offered me $9500. That's upsetting. I could still get $9500 but I'd have to dump $3000 for the transmission.

Also, I'd love to buy a used $3000 car. But I'm not about to buy a $3000 car only to dump $5000 into it. That doesn't make sense and that has been my experience when buying older vehicles. Now I will gladly shell out ~$15000 if it means I will get a few years of worry-free warranty coverage...but I've been driving my Mercedes for 4 years and paid no repair costs so this "can't afford the upkeep" stuff is pretty much garbage. I allot $2000/yr for maintenance on my car. Considering I use maybe $500-1000 year for tires/oil/etc, I'm well under my allotment average.

I'm the 2nd owner. I bought it at 25000 miles in 2009. Its been meticulously cared for. I know its been maintained to the millionth degree. I know it will probably run for a hundred thousand miles without much more work. But theres always a chance next month it may need a $15,000 motor replacement. Who knows. This is why I liked warranty'd vehicles and the only reason I'm considering getting rid of it.

For the record - if a similar issue happened in a Jeep auto tranny the repair costs would be quite similar.
I put a completely rebuilt automatic tranny in my '95YJ for $1700.00 couple of years back. So for a Mercedes I would think the price would get a bump up.

My advice again is take it to a tranny shop and ask them to perform a D&C. That is a Drain and Clean. They swap out the tranny fluid and replace the filter. DO NOT let them talk you into a 'tranny cleanse' type service that does not involve removing the tranny base pan to replace the filter/fluid.

If you are just going to dump it trade it in on a newer vehicle and let the dealer fix it.
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Unread 06-10-2013, 07:45 PM   #59
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Your whole point of this thread was to not be in debt. You should have the answer already based off that. You have shown you are quite capable to save money. Fix the transmission and then start a car fund. Every month take a certain amount (let's just say $350) and put it in a new savings account. In 4 years, you will have almost 17k. In 4 years, take that money and buy yourself a 17-20k car. Your trade in will cover the extra expenses and you have buying power as cash talks.
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Unread 06-11-2013, 06:29 AM   #60
bobjp
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Originally Posted by Achped View Post
Why would I take a loan out for a $5000 car when I can pay cash for a $5000 car? My credit score is excellent. Above 750. How many 20 somethings can say that? (I'm sure you know hundreds of them. I know, I know...)

2007 was erroneous. It is an '06. And yes. You can add 36000 miles to a car in 4 years. That's how long I've owned it. What are you getting at?
You said you have 36,000 miles on it, and 2006 was 7 years ago. It's odd when things don't add up...

Quote:
I have a decent paying job. But I am beginning to be irritated by the replies at my supposed lack of credit, lack of research abilities, and overall naiveness.

These cars are, apparently only recently, becoming known for failing transmissions passed 60,000 miles. Some people even took Mercedes Benz to court in a class action suit over it. What's worse is that only the dealership can fix the transmissions - Mercedes will not sell the repair parts to indy shops under the guise of "theft prevention".

So $2000-$3000 is the norm to repair the transmissions. Indy shops cannot perform them - they can't even get the parts to perform them. It is a control plate and some solenoid that is on the top of the transmission. What would you like me to do?

Again - if I fix the transmission, which from most of what I've read should last at least the life of the car. The new part has been improved. I could easily get another 5 years out of this vehicle. Upkeep is expensive, but its a paid off Mercedes and a car that you own 99% of the time is cheaper to maintain than to replace.
Nobody insinuated anything about naivete until you said it. But honestly, driving a Mercedes when trying to get out of debt is naive.

You should not have to be looking at a $3000 repair on a car with only 72k on it. That's just absurd. A $3000 repair isn't an indication of things to come to you? Fix it at whatever cost, and then sell it. Did you post on the MB forum? That first link does sound like your problem. That's too bad, but I'd still want a second opinion on that large of an expense.

I would agree with your 99% rule, but a Mercedes most definitely falls into the 1%. Your problem is proof. And FWIW, I can get a complete used transmission for my Jeep for <$400. If I actually needed one, but I don't....at 260,000 miles...
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