Can I Really Afford A Mercedes?

We often associate Mercedes with the epitome of luxury. To own a Merc is to establish yourself as successful, worldly and executive. It’s a sign that you have done well for yourself, and you deserve that iconic badge. Indulging in a Mercedes is allowing yourself a level of luxury and comfort. It’s a status symbol, but also a joy to drive and a magnificent reputation to buy into. The only trouble is the price tag. A brand new Mercedes will set you back tens of thousands. Often your budget simply won’t stretch. The question is, can you really afford a Mercedes?

Image Credit - Kristof Eerdekens

Image Credit – Kristof Eerdekens

The simple answer is yes, but there are one or two caveats. Let’s take a look in more detail.

Look to the used market

Unfortunately, a brand new Mercedes is going to make your bank balance squeal and recoil in horror. If you’ve got money to burn, so be it. But, let’s face it, if you did, you’d already be at the dealer and not reading this blog post! Instead, cast your eyes to the second-hand market. There are plenty of fantastic deals to be found here. Plus, Mercedes has a reputation for reliability and build quality. That means a five-year-old Merc will still perform admirably. Visit the dealers at Mercedes Inchcape and get a sense of what’s out there in your price range.

Save up the largest deposit you can

Buying a Mercedes isn’t something you should rush into. And it pays to hold off until you can afford a truly great model. With that in mind, we suggest saving the biggest deposit possible. Doing this will ensure that your monthly repayments are manageable. It also puts you in a better bargaining position when negotiating the price. Finally, it allows you to purchase a newer, more reliable model that will save you money in the long run.

Find a sensible loan or finance option

Very few car buyers can afford to purchase a vehicle outright, so finance options and loans are the way forward. It’s crucial to find a plan that works for you with a manageable payment schedule. It’s not worth driving a Mercedes if your monthly finances are crippled. Shop around for a good deal and speak to your bank about a loan.

Keep your running costs down

Buying a Mercedes is one thing, but it’s quite another finding the money to run it! Some of the older models drink petrol faster than a tank while insurance rates can be sky high. Before you sign on the dotted line, budget your running costs and ensure you can afford it. Scout the market for Mercs with good fuel economy and cleaner engines to save money.

Restore a classic

If you’ve done the sums and even a second-hand model proves too expensive, why not restore a classic. A twenty or thirty-year-old Merc has an elegance and sophistication about them. They’ll be cheap to get your hands on and you can spread the cost of repairs over a number of years. It’s a rewarding challenge to take on and you’ll love every second.

As you can see, you really can afford a Mercedes. Follow the advice here and you’ll soon have a luxury car in your driveway.

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