Keep your total vehicle expenses less than 20% of your net household income. This is not just your monthly vehicle payment, but also all related costs, such as gas, maintenance, etc. For example, if you and your spouse bring home $5,000 per month, you should be spending less than $1,000 a month on your cars.
Also know, is it expensive to own a Mercedes? Is a Mercedes-Benz expensive to maintain? Compared to the broader market, a Mercedes-Benz is expensive to maintain at $908 annually on average. However, Mercedes vehicles can be slightly more affordable to maintain than other German vehicles by BMW and Audi.
Also, do you have to be rich to own a Mercedes-Benz? You don’t have to be rich to afford a Mercedes–Benz. A certified Mercedes-Benz GLS can be purchased used in cities like San Antonio, TX. … In a pre-owned Mercedes-Benz, you can depend on the car to be top notch and still perform well.
People ask also, what is the most affordable Mercedes-Benz? The Mercedes-Benz A-Class sedan is the cheapest vehicle sold by the automaker, outfitted with a starting MSRP of $33,650. For this price, the model boasts a surprisingly luxurious interior, cutting-edge tech, punchy engine options and spry handling. It stands out in the crowd among small luxury cars.
Likewise, is 50k too much for a car? Rather than looking at monthly transportation costs, Dave recommends buying cars that cost no more than 50% of your annual income. So if you make $50,000 a year, you should not spend more than $25,000 for a car(s).
Why you should never pay cash for a car?
If you put a big chunk of your savings into the purchase of a car, that’s money that’s not going into a savings account, money market or other investment tools that could be earning you interest. … The second con to paying cash for a car is the possibility of depleting your emergency fund.
Do Mercedes have a lot of problems?
There have been several reported issues with Mercedes-Benz when it comes to the more airmatic features, but the most frequent complaints come in regard to the air suspension. The German brand first introduced air suspension to their vehicles in the year 2000 via equipping it to the S-Class W220.
Do Mercedes last long?
With proper maintenance, Mercedes can last 13-17 years on average. Considering an average yearly mileage of around 15,000, that means that Mercedes can last anywhere from 200,000 to 250,000 miles before major repairs are needed.
Can I take my Mercedes to Jiffy Lube?
The answer is NO. You are permitted to take your car any place you would like to have it serviced and repaired. The Mercedes dealer would like you to believe that your local European repair facility doesn’t have the tools, correct diagnostic equipment, or skills to work on your vehicle.
Do rich people drive Mercedes-Benz?
These big-time earners—people who could easily afford a new Mercedes if they chose—drive Honda Accords or Toyota Camrys. … The top 10 cars for $250,000-plus households include the Mercedes E-class, the Lexus RX 350 and the BMW 5 series and 3 series.
What is the average income of a Mercedes-Benz owner?
Average Mercedes-Benz Product Owner yearly pay in the United States is approximately $160,000, which is 51% above the national average.
How rich is Mercedes-Benz?
Mercedes-Benz’s brand value maintained a steady growth rate between 2010 and 2018, two years of negative growth followed but in 2021, the value bounced back to reached an all-time high of 25.84 billion U.S. dollars.
Should I buy BMW or Mercedes?
While the Mercedes-Benz CLS-Class is one of the highest performing large luxury sedans on the road today, the overall winner when it comes to luxury performance is BMW. Any consumer looking for style and performance in the same convenient package should choose a vehicle produced by BMW.
Why are Mercedes so expensive?
Mercedes Benz cars are so expensive because they are well-engineered and well-built. The vehicles undergo impeccable designing, testing, and attention to detail. In addition, the company makes its own parts, unlike many companies that outsource some of their car parts.
How much should I spend on a car if I make 80000?
The frugal rule: 10% of income For many people, I think that will be between 10–15% of your income. So if you earn $25,000 a year, that’s going to be a high-mileage used car for $2,500–$3,000. If you earn $80,000, that’s a used car for around $10,000 or $12,000.