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

          • spackbace on 15/05/2020 - 17:59
            +1

            @Kangal: Work for Toyota lol I thought that was common knowledge :P

            • Kangal on 15/05/2020 - 18:04
              +1

              @spackbace: It is… but you underestimate how stupid my brain can be on a Friday night ; )

              • spackbace on 15/05/2020 - 18:15
                +1

                @Kangal:

                but you underestimate how stupid my brain can be on a Friday night ; )

                FTFY ;)

            • [Deactivated] on 16/05/2020 - 02:33

              @spackbace: Haven't seen you around much lately. Thought you might have moved on to job where you have less free time to be with us.

      • paraneoplastic on 15/05/2020 - 18:50
        +1

        The My19.5 golf R in my opinion is good bang/buck (ironic that I’m only thinking of this now lol), easy to tune to get some awesome specs and has decent tech.

        I’ve driven the stinger it’s frankly quite a boring car to drive, and slow comparatively

  • plmko on 15/05/2020 - 17:46

    C43 is a terrible car RIP

    Trade in now for a 2015/2016 BMW M2, that way at least you can ride that sinking ship with something good.

    • paraneoplastic on 15/05/2020 - 18:48
      +1

      I don’t think it’s terrible, I’ve enjoyed it a lot.

      I’ve driven a mates M2, not my cup of tea - very fun to do powersides in though

      If I trade in now I’ll have to pay the interest anyway so no point.

      • [Deactivated] on 15/05/2020 - 19:47

        It’s not terrible, it’s just not an AMG. It has decent power.

  • pegaxs on 15/05/2020 - 17:56
    +10

    Thoughts on DownUpgrading Mercedes-Benz C43

    FTFY…

  • Skramit on 15/05/2020 - 21:13
    +13

    A beige 2004 Camry with tissues and a hat on the rear ledge should do the trick.

    • pencilman on 15/05/2020 - 21:16
      +3

      Hey - that's my car!

    • mousie on 16/05/2020 - 16:36
      +1

      and a corner dent.

    • TimeAndMoney on 17/05/2020 - 02:26

      And a scratch on the side of the car

  • kylarstern on 15/05/2020 - 21:27

    I am assuming you're not a car guy? Seeing as you didn't know the facelift was coming (biggest giveaway) and the fact that you worry more about your car's depreciating value than actually enjoying, loving your car.

    • paraneoplastic on 16/05/2020 - 02:07

      The dealer said the facelift would be a year away and I believed it, it was a mid cycle update so it wasn’t ready advertised that much.

      I’be enjoyed the hell out of this car - already had to do a brake and wheel change if u catch my drift

      • jace88 on 17/05/2020 - 09:10
        +2

        Keep the c43 then.

  • CaffeineCruiser on 15/05/2020 - 21:45
    +2

    VW Golf R all the way.
    I previously had a 2012 MK6R before and I have a 2017 model right now.

    Both tuned/modified.
    MK7R is such a great car.
    Very comfortable with the different driving modes and a quick enough car compared to at least 70% of the other vehicles on the road.

    Plenty of aftermarket modifications available on them to make them quicker if you are ever bored.

    Back when I only had a flash tune on the MK7R, 0-100 was about 4.1-4.2 seconds so plenty of fun already!

    Servicing is fairly cheap too (compared to Mercs). I service at a VW/Porsche Specialist and it's about $350ish for the usual annual service compared to about $600ish from VW. The bigger service intervals for the DSG transmissions are every 30k km's and will set you back $1k-ish.

    Happy to answer any questions :)

    • JimB on 16/05/2020 - 00:46

      DSG aren't serviced every 30k.

      • CaffeineCruiser on 16/05/2020 - 00:56

        Oops - typo; 60k km!
        Can't edit that comment above!

    • brendanm on 18/05/2020 - 17:02

      A dsg service isn't that expensive.

  • Velt on 15/05/2020 - 22:08

    Could also try and fine a low mileage BMW m140i as an alternative to your golf R. I doubt there are any new left in Aus anymore.

  • Protato on 15/05/2020 - 22:52

    Buy a 2nd hand Mustang GT.

    • SBOB on 16/05/2020 - 07:15
      +3

      Only if kept under 4k rpm

  • letthiswork1 on 15/05/2020 - 23:25
    +4

    Please dont go golf

  • Emerald Owl on 16/05/2020 - 00:45
    -2

    The fact you guys are on Ozbargain is so silly to me.

    • paraneoplastic on 16/05/2020 - 02:06
      +12

      I joined in 2018, should’ve joined in 2017 and could’ve avoided this conundrum

    • [Deactivated] on 16/05/2020 - 02:51
      +15

      Why? You can be an ozbargainer and still enjoy the finer things in life.

      • Hybroid on 16/05/2020 - 03:01
        +14

        Some people don't realise this isn't just OzCheapoAliExpress but people look to save money on stuff so they can buy more stuff.

      • Ajax45 on 16/05/2020 - 18:14
        +12

        Because an alarming amount of people on OzB like Gizdonk above there think it's strictly for frugal cheap arses. It's why any time you see someone "rich" on this site, they get slagged off.

        People can splurge on things they enjoy while still wanting to get bargains and value for their money. You don't get a medal for "making your $2000 car last 12 years".

        • serpserpserp on 16/05/2020 - 20:10
          +1

          You don't get a medal for "making your $2000 car last 12 years".

          You mean this trophy I got given by my mechanic for making my car last 20 years is a fraud? throws trophy against the wall

  • ass3ts on 16/05/2020 - 03:10
    -7

    I change cars regularly and it made me cringe every time I sold my cars to guys who took out finance on 100K-200K cars when they did not even own a single property.

    Anyway, don't become yet another Golf driver; R, GTI, or whatever it is.

    • Ghost47 on 16/05/2020 - 22:21
      +2

      The big boys play in the stock market, which is why Australia has such a hard on for property.

  • B-Rad on 16/05/2020 - 05:54
    +3

    inb4 obligatory westpac appreciating asset comment

  • bryans on 16/05/2020 - 08:03
    +6

    You fell for the fake AMG badge.

  • Jdmmps on 16/05/2020 - 08:12
    +1

    Are you registered for GST? If you are GST registered there are asset write offs the Gov is promoting to get the economy going again, that you may want to explore (however I don't think it applies to 2nd hand vehicles, only new cars, but double check). Otherwise I think your logic is sound with the MB to VW trade.

  • t_c on 16/05/2020 - 09:27
    +16

    Did you at least pull chicks?

    • DiscoJango on 16/05/2020 - 10:35
      +6

      Tall poppy much?

    • Ajax45 on 16/05/2020 - 18:16
      +17

      Found the poor, unemployed one taking his anger out on OP simply because he's "rich".

      OP's in the medical field, you don't get there by being a bum. He worked to get where he is and now he's reaping the rewards, why do people like you feel the need to bag on them? Reeks of jealousy and envy. It's sad really.

      EDIT: Man can dish it but can't take it - https://i.imgur.com/75eT9Z9.png

    • Baysew on 16/05/2020 - 18:18
      +1

      OzBargain is a broad church.

  • dins on 16/05/2020 - 09:53
    +7

    Dump it and buy a Lambo. Problem solved.

  • eggles01 on 16/05/2020 - 10:33
    +1

    get it checked ouwith NRMA before it runs out of warranty and see what condition it is in,if NRMA report says that it is still in good to excellent condition keep it and see if you can find a third party warranty for it but be careful different warranties only cover certain things what you need is a warranty that is closest to the original factory warranty,good luck with it,

  • Myone888 on 16/05/2020 - 10:43

    What is the car whilst minimizing depreciation?

    • MS Paint on 16/05/2020 - 11:26
      +7

      Carrera GT
      GT1
      918 spyder
      550 spyder
      959
      964 turbo
      991.2 speedster
      356 speedster

      • gromit on 16/05/2020 - 16:37
        +2

        probably wants a car he can drive rather than one that will sit in the mechanics workshop.

      • Bid Sniper on 17/05/2020 - 18:18

        LOL Lets downgrade from a $100k C43 to a $1.1+ Million Porsche.

        +1 for technically correct answer

    • knasty on 16/05/2020 - 13:15

      A rental…

    • BartholemewH on 16/05/2020 - 18:25
      +1

      1982 Ford Falcon XE ESP.

      Edit: Or 1987 VL Calais Turbo if you swing the other way.

    • Hybroid on 16/05/2020 - 22:27

      FJ Cruisers don't seem to depreciate much at all with 6 year old clean ones holding onto RRP.

      Very rare to find a true 4WD with decent power and not a puny 4-cylinder engine nowadays.

    • Bid Sniper on 17/05/2020 - 18:14
      +1

      Spend less, lose less and have some else pay the depreciation.

      Buy a reliable brand car, 1-2 years old. Previous owner copped the biggest deprecation and still under warrenty.

  • 91rs on 16/05/2020 - 13:15
    +19

    Its only a loss if you sell it or move it on ;)
    I'd keep it, push to pay it down faster and have it paid out in 2 years or less. Then just run it and maintain it which then allows you to refocus on savings for a house or whatever.
    You have owned it since new, you know the history, you know how its been treated (unless you thrashed it expecting not to keep it).
    I'd rather do that than sell it off and still maybe wearing a cost, because its valued at that doesn't mean people are out there buying at that price currently.
    Last thing I'd want is a VW personally (especially coming from a benz) but also a used R is probably another person who's thrashed it and knew they were going to offload it at X time, you could just as easily walk in to another car you've gotta spend money on to repair.

    • MS Paint on 16/05/2020 - 13:35
      +6

      This reply makes too much sense. Please refrain from posting this jibberish ever again 😁

    • jace88 on 16/05/2020 - 14:20

      I’d say the only exception to this is if you know you’re going to have a huge outlay coming up. I traded in my Evo X MR for a song (50% depreciation one under two years with 20,000kms) because the gearbox was slipping and would cost $15k to get fixed outside of warranty (since the car had been tracked and modded). I wasn’t on a lease thankfully so just traded in for my first Benz and have been driving German cars since.

      • Bid Sniper on 17/05/2020 - 18:34

        IX was better track car.

    • paraneoplastic on 17/05/2020 - 17:13

      Good point

  • roundnumbersonly on 16/05/2020 - 17:47
    +7

    If I bought a 100k car while living at home, my parents would have given me a major whooping. I'd cut my losses and downgrade to something worth $15-$20k.

  • letthiswork1 on 16/05/2020 - 19:41

    Go for a CLA 45

  • Kapinny on 16/05/2020 - 20:12
    +1

    its okay, with that user name you're probably a doctor and will be able to make the depreciation difference back pretty fast :D

  • Ghost47 on 16/05/2020 - 22:20
    +1

    It seems clear from the OP that the financially prudent decision would be to downgrade to the Golf R. Whether you will enjoy the Golf R at the same level as the C43 is what you need to decide, after modding the Golf R you probably won't be saving much I'd think? i.e. if you spend the difference on mods.

    If you're saving for a house it seems to me to be a no brainer, but I don't know what your finances are like nor what the ongoing costs of owning each car will be like for you. If insurance has been under your mums name this whole time (pretty dodgy on your behalf) then I'd think insuring the new car under your name won't be as cheap.

  • crunch on 16/05/2020 - 23:13
    +11

    No worries just do a few more locums brah

  • baker bob on 17/05/2020 - 01:51
    -1

    If you want spirited driving take a 1000CC sports bike to the track on weekends, you can buy it outright. Then buy an average car to go from A to B without risk of killing innocent people. Cars are only fun for people that don't have the balls to ride a bike.

    • ass3ts on 17/05/2020 - 22:57

      Some people prefer driving in comfort, not spirited riding wrapped in tight suits and constantly at the mercy of changing weather conditions + temperatures.

    • paraneoplastic on 18/05/2020 - 19:20
      +1

      I've done 6 months in Ortho trauma surgery, i'll never ride a motorbike again.

  • AlanHB on 17/05/2020 - 08:24
    +1

    As per comment above, car payments $1200 a fortnight (after the tax saving with novated lease).

    I think:

    • end lease
    • save up for new car
    • how much car costs will depend on how much you save
    • don't finance or lease, if you can afford to throw away $1200/ftnight on something you don't own, you can afford to save $1200/ftnight for something that you do.
  • jace88 on 17/05/2020 - 09:35
    +5

    Reading this thread again it almost feels like Op wants a new toy (even if it’s a downgrade in tier from their current c43), and the whole being financially prudent or wanting to save for a deposit is a convenient justification.

    I could be wrong but I know I’ve tried to financially rationalise wanting a new toy (or OzBargain impulse buy) using similar logic.

    • 91rs on 17/05/2020 - 14:51

      Yeah sounds like it, the "downgrade" to another car then allows hims the justification to spend more on mods to make it like what he had etc.

    • paraneoplastic on 17/05/2020 - 17:16
      +1

      Not going to lie, i kinda regret getting the C43 as it was a stupid purchase

      But i like the reasoning behind @91rs comment, hopefully the C43 has had the bulk of it's depreciation now and i can just re-lease it for a nother few years and pay it down close to zero and then sell

  • Kapinny on 17/05/2020 - 12:01

    good luck

  • Thatsgold on 17/05/2020 - 14:13
    +1

    I got a Ferrari (Toyota Yaris) on a 3 year lease plan via company…
    I hate paying the $300 a fortnight (fuel, insurance, service included) for it so i don't want to know how your feeling paying that amount for your Mercedes-Benz C43 lolz…
    I mean if you compare mine and yours, we share the same problem…not much backseat space… LEEL

  • Brick Tamland on 17/05/2020 - 14:19
    +1

    I never realised this model existed. With AMG I always thought of the CLA45 with the mental turbo 4 or the crazy 63. For some reason I always assumed the c43 had the v8 in it.

    If it’s a good reliable car keep it. The resale will be horrible on this non-v8 AMG.

    • paraneoplastic on 17/05/2020 - 17:17

      It's been reliable thus far, and didn't know it was possible to extend the warranty so at this point will probably do that and keep it

      oh and trust me hindsight is a bitch :(

  • GourmetFoodie on 17/05/2020 - 14:33
    +2

    Can’t believe you’re on ozbargain.

    But you are.
    So downgrade the car!

  • foolsgold on 17/05/2020 - 16:15
    +1

    It’s 3 years old. You really only going to start to have expensive non maintenance problems around 7-10 years. Next 2 years will just be normal expensive maintenance and depreciation. It’s a pretty safe bet to keep unless the car has been problematic or hasn’t been treated well. Keep it, just pay it down as quick as possible.

  • eldudebrothers on 17/05/2020 - 17:35
    +1

    I was in the same boat as you (when I was a junior medico). When I was a reg I bought a Golf R and it was a terrible mistake. My advice is get rid of that car ASAP and buy a fun Japanese/Korean car such as the WRX STI, stinger, mx5, supra, civic R, infinity q60 sport, lexus RCF, GTR or a 86 and mod it. When I became a consultant, I bought an MX5 and it is the most fun car I have ever driven and I usually do well on track days due its superior handling.

    • x d on 18/05/2020 - 19:19
      +1

      +1 for the MX-5. Had loads of fun in one until we started planning for kids, even when we had 2 cars :-(

      The only other comment is the supra is not altogether Japanese and being just newly released another 3-5 yrs or so before we could get info on if it's going to be like a BMW on long term ownership.

      RC-F is my choice in your list (currently running an IS-F and loving it)

  • Name on 17/05/2020 - 20:42
    -4

    I never understand people who go into a lot of debt for a fancy car. Our house is paid off and we have a household income of roughly $350k per year and I still get around in a nearly 12 year old Hyundai hatch back. I think you should definitely downgrade.

    • ass3ts on 17/05/2020 - 21:32
      +1

      I don't understand them either, but in your case you should enjoy the finer things in life more.

    • Circly on 17/05/2020 - 21:58

      Are you into cars though? With that money even a used Lexus can get you comfort, 'luxury' and reliability.

    • Knightelf on 17/05/2020 - 23:20

      I think you should definitely upgrade.

    • AlanHB on 18/05/2020 - 07:10
      +2

      Yeah I don't get it either. Actually I don't understand financing anything that depreciates in value (that is not required to maintain income), it's a pretty silly thing to do.

      I note there's a couple of commenters who want you to buy a car you don't want or need? Maybe they haven't considered other cool things you can do with the cash, like invest, go on holidays, renovate the house (a car is like a new bathroom or two), all of which have higher value than a car.

      • Circly on 18/05/2020 - 10:47
        +1

        I don't think the above comment are telling Name to finance any cars. Moreso, he is on 350k a year and driving a 12 year old Hyundai. Whats the point of earning money if you are just going to live like you are on 80k per year?

        I agree the though the cash could be spent on other things if cars arent really his thing!

      • 91rs on 18/05/2020 - 11:12

        "Maybe they haven't considered other cool things you can do with the cash, like invest" - When the banks take to social platforms to try engage with the youth.. All I can picture is Steve Buscemi and the How do you do, fellow kids meme.
        You could invest and end up with nothing also, I know plenty who had put large amounts of their savings in to investments, clearly didnt do to well and ended up with nothing within 10 years or less, at least OP has enjoyed the car the time he's had it.

    • 91rs on 18/05/2020 - 11:07
      +7

      When you gonna enjoy all that money? when you're 70 or 80 and dont have the ability, coordination, skills and possibly health to throw a nice car around a track or do something fun?
      Sure cars aren't everyone's thing but it always amazes me how people are so quick to talk sh!t about people who have an interest in something, I'd rather have wasted a bit of cash and had a ball now than look back when I'm old and can't do anything going oh maybe I shoulda done whatever that I was interested in.

      • Name on 18/05/2020 - 19:22
        +2

        I'm not saying don't have a ball now. My wife and I have plenty of fun. We just don't go into signficant sums of debt for it.

        Especially wouldn't be dropping $115k on a significantly depreciating asset (car) on finance while living with parents.

        But I also don't see the allure of cars. I catch public transport to work. If anything I'm thinking of getting rid of the car and just catching uber when needed.

  • eklipsils on 17/05/2020 - 20:50
    -1

    I'd say, sell it and cut your loses. Buy the 2nd hand Golf R and enjoy it without worrying about the depreciation.

    The amount loss in depreciation supersedes the warranty. ~$50k in depreciation could get you a brand new engine and gearbox replaced easily lol.

  • Grayfox on 17/05/2020 - 21:25

    Good luck with which ever way you go. I say just keep it and enjoy it. In saying that, the Golf R is awesome.

    Still loving my 2017 Golf R. Ecu/dsg tune, aftermarket wheels, and some suspension upgrades. Perfect car to drive for fun or family.

  • sovereign01 on 17/05/2020 - 21:38
    +2

    I did a similar thing with a 63S.

    Bought outright in 2017, sold 2.5 years later -$50k

    Regret nothing.

    At your depreciation level you might as well keep it, you won't find anything like it for the money its worth now, and if it has been a reliable car for 3 years it's very likely to continue to be.

  • RED COMET on 18/05/2020 - 04:06

    Not that I like telling people how to spend their money but I think this is the first time I've heard of someone getting a 100k plus car before they move out of home

  • downhillar on 18/05/2020 - 10:07

    I think OP deserves some credit for being so understanding while people are slagging him in this thread :D

    I just had one thought - seeing as the car is costing you an absolute bomb each month, why not just get rid of it now and buy something cheap and boring to tide you over for 12 months while you work out what you really want to do?

    Maybe you'll find you really enjoy having the $$$ in the bank and the stress free driving that comes with owning a cheap(er) car. A 2nd hand BRZ/86 for less than $20k? Or even a 2014ish STI for a bit more? Keep it for 12 months while you sort out your financial goals knowing that in 12 months you'll buy another nicer car.

    Sometimes there's nothing more enjoyable than driving a car you don't care about!

    • paraneoplastic on 18/05/2020 - 17:30

      Unfortunately, even if i sell now, i will need to pay the balloon + remaining interest regardless. As i realised 1 year into the lease, it probably wasn't the brightest idea half my salary going to a car lol

      • downhillar on 18/05/2020 - 18:24
        +1

        Ah my bad, I must have missed that bit. Geez, tough position!

        Maybe it would be best to just keep it? As the posters below point out a Golf R is still going to cost you a fair bit.

        Let us know what you decide.

  • frostman on 18/05/2020 - 12:30
    +1

    How much were you earning if you dont mind me asking to get a lease at that cost?

    if you pay the balloon and sell it private and get back 7K - wouldnt that be ok?

    • paraneoplastic on 18/05/2020 - 17:32
      +1

      In my first year out of uni with overtime (i had 2 surgical rotations so a boat load of 12 - 13 hr days) i made 105k

      • ass3ts on 18/05/2020 - 22:14
        +2

        Just keep the car, Golf R is for those who want a performance European car on a limited budget, it's a VW, and the owners drive like red P platers who just got their Commodores. The plastic surgeon I know drives a 911 Turbo. You'll get there in a few years.

      • [Deactivated] on 15/06/2020 - 14:34

        Lol. Mate, you have the balls. A C43 on 100k income. I am certain most of your bosses drive a car at around 1/4 of what you've paid.

        Goodluck with your exams. Our friend (neuro) took 1 year off work just so that he can get through his exams after multiple attempts.

  • tempestswitch on 18/05/2020 - 14:16

    2019 VW Golf R which is selling ~$35 - 40k

    You ain't gonna get a 2019 Golf R for $35K. Cheapest on the market for a 2019 is 40K and the next cheapest is like $47K. Not sure why that first Golf is so cheap but you'd be looking to pay minimum $45K for a 2019 Golf R

    • 91rs on 18/05/2020 - 15:20

      Then he's gonna mod it for sure to make it closer to the Benz, its a trap don't do it!

    • Circly on 18/05/2020 - 16:46

      35k for a used 2019 Hyundai i30N is more likely.

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