Would you - New Car with payments or restore/semi-restore your Diesel ? - Page 2 - PeachParts Mercedes-Benz Forum

#16 11-05-2007, 05:53 PM

It really is a pretty difficult decision.

On one hand, I hate the thought of depreciation expense. Plus, I don't know how many - if any - new cars can realistically be expected to last 20 years.

On the other hand, modern safety advances are nothing to sneeze at. My CD is pretty safe. My 400E is very safe, but I'm certainly not under the illusion that either car is anywhere near as safe in a serious accident as a new vehicle.

rwthomas1 · #17 11-05-2007, 06:11 PM

I would say spend the money and keep it. The reality is a new car payment will be at least $400/mo. for anything comparable. Say you spend 10K making your car nice. 10K divided by $400 is 25months. Not very long in reality. Yes, you will take a financial loss if there is an accident. Thats the risk involved. I'd take the risk over the financial liability any day. I also noticed you are in Texas? Even better, no winter rust issues to deal with. RT

#18 11-05-2007, 08:13 PM

Simple: never, never borrow money to pay for a car or anything else that will decrease in value.

winmutt · #19 11-05-2007, 08:43 PM

Id rather fix up a $50k in 1980's $ and drive it around than I would a $20-30k car note for a Japanese 4/6banger.

However I will be sorely tested by the lineup of vehicles available in '09

Hatterasguy · #20 11-05-2007, 09:46 PM

Its simple really:

Do you want to be a mechanic? Or do you want a turn key A to b car?

The people that I know that drive these old MB's that have money, don't do their own work. They spend probably $3k-$5k a year to drive these old cars, and rationalize it by saying its cheaper then buying a new S550. If the trans blows or the head cracks its not a big deal, the mechanic handles it and bills them. They are correct, driving a W126 this way is cheaper than buying a new W221. But these people are the fringe. $6k a year will lease you a new BMW 3 series, and you would only have to bring it in for service once a year maybe. An S550 costs about $1,200 a month, its a nice tax right off, and a lot of people buy them for that.

I enjoy working on my W126 as a hobby, but time is tight. If I had the money I'd lease a 325I or C300 as a daily ride. New cars don't break as much.

If I had $20k to put into a car, I wouldn't put it into an old car. I'd either buy a new Camry or a slightly used high end car. Keep for 5-6 years, and trade up again.

Skid Row Joe · #21 11-05-2007, 10:06 PM

Quote:

Originally Posted by AdvisorGuy

"Why the **** would you want to get something newer ? If that 1 year old Audi was MY car,

This begs the question - Would you do what Elais suggests ? I'm seriously considering it.

Neither.......unless you like spending night and day and thousands of dollars on a highly-deteriorating/deteriorated car.

I wouldn't own an Audi, if it was given to me, anymore than I'd own an '82 300SD, a Chevrolet, Ford, etc. if one were given to me.....

I'd shop intensively in Texas for a less than 100K miles, '98 -- '99 300TD, and pay $20-K TOPS.

Why the heck would I want an "Audi"?

123Guy · #22 11-05-2007, 10:11 PM

[quote=mrhills0146;1665027]123Guy - I am in the same boat - a "suit" who insists on soldiering on in my CD. My colleagues think I'm nuts! ;-)

Right you are, my boss and I drove my car to the airport the other day and he likes to rag me about Elvira - so he hops in and acts surprised when he says, "gee I didn't know cars this old came with seat belts."

Flounder · #23 11-05-2007, 10:15 PM

1) The new cars are all shaped like a bar of soap. Cookie-cutter rental cars with no soul.

2) Any jackass can drive a new car. To make an old car reliable takes some skill.

3) What else do you have to do on weekends?

crashone · #24 11-05-2007, 10:18 PM

I thought about some thing I heard the other day talking about barrels of oil..... in 1980 money $38.00/ barrel is equal to $98.00/ barrel today. So in that line of thought 98 divided by 38 equals 2.6, now multiply the original cost of your car by 2.6. In my case I think it is like 39k, so today to buy a new car of equal value I would have to spend 2.6x39k or roughly $101,400.00

I think I will stay with my w126 as long as I can.

Hatterasguy · #25 11-05-2007, 10:25 PM

Quote:

Originally Posted by crashone

I thought about some thing I heard the other day talking about barrels of oil..... in 1980 money $38.00/ barrel is equal to $98.00/ barrel today. So in that line of thought 98 divided by 38 equals 2.6, now multiply the original cost of your car by 2.6. In my case I think it is like 39k, so today to buy a new car of equal value I would have to spend 2.6x39k or roughly $101,400.00

I think I will stay with my w126 as long as I can.

$101,400ish would get you into an S550 with some decent options.

crashone · #26 11-05-2007, 10:30 PM

Yeah but my income doesn't show the same type of inflation, seems more like deflation at times

!!! $100k would get you in a Maseratti sedan also

.

Hatterasguy · #27 11-05-2007, 10:36 PM

I thought those cost more? I see them running around all the time, they look interesting. Although IMHO the new S is sick! Its so nice!

crashone · #28 11-05-2007, 10:44 PM

I saw one in town and had to do a google on them, I was surprised to see them in that price range. They want to compete with MB and BMW in that line of luxury sedan. Anyway you are right the S class does look good, too bad no diesels. Good to see what would be affordable after 15-20 years deprieciation

.

Hatterasguy · #29 11-05-2007, 10:48 PM

Yeah I'm hoping they import a CDI S. Maybe MB will import the S320 CDI in 2009.

The S420CDI would be even better!

kerry · #30 11-05-2007, 11:01 PM

Quote:

Originally Posted by lutzTD

its a great idea, but dont be too attached to the one you have if its even questionable underneath for rust or damage. if you are serious take some time and find a good starting point, one with low miles and very nice all round condition then freshen it up. I know a lot more about these cars than when I started, if I chose to sink a lot of money in one instead of new I would make sure the car is pretty good to start.....

I agree. I just purchased a 79 SD with 111k. Paint and interior are 9 out of 10. Mechancially I'll know more after I drive it a while but right now it looks like 9 out of 10 also. Better to take the time and look for the best example in top notch condition and work from there. I found mine on Ebay but it was local.