Best option... 18 years old

[viXe]

So potentially, I could pay off an AMG at any given time, however I don't think I'd like to spend £40k+ at once at such a young age, so I'm looking to buy an AMG with around £20-30k deposit towards the finance etc.

But like said, only 18, never had credit and everything I've ever paid for (other than phone contracts) is fully paid off at once (insurance etc).

Currently driving a Fiesta ST2 paid out right (so yet again, no credit for this), but looking to move over to a MB AMG.
Nearly bought a CLA 45 AMG a month back but the dealer couldn't get it until around December so it was too long of a wait for me.

I own a business, so I guess business lease could be on the cards, maybe.
Any advice? I'm not sure how MB's Finance works but I know Ford have like a 3 year thing then you pay a balloon payment at the end. Does MB do this?

Any idea's or opinions on my options?
I can insure a C63 AMG, CLA 45, and A45 AMG. Those are the only 3 I like also...

 

[Lee C63]

Would love to know what your insurance quote for an AMG would be, i cringe to think......

 

[IanA2]

Would love to know what your insurance quote for an AMG would be, i cringe to think......

A breeze for a powerfully built company director

 

[viXe]

In all honestly, not too much at all, I paid £800 for my ST to be insured. CLA 45 AMG is coming in as an additional £700, but that's obviously because it's a new car with no history etc. Same as an a45 AMG.

C63 is around £2,000 more haha.

 

[Neil Mackay]

Probably better of paying for the car outright as I don't think MB finance or any other finance company would touch an 18 year old with no credit history with a bargepole! That's not disrespecting you by the way just a symptom of modern times in the finance sector!

 

[gunning]

The only way you will find out is actually going in and asking them to propose you. Judging on previous experience with finance you'll probably need a guarantor, on this price unless you have a substantial deposit they'll just decline you. I reckon if you have £15k to put in they do a deal no problem.

 

[Sp!ke]

Frankly for 99% of 18 year olds, I wouldn't suggest any of those cars... not at least until testosterone levels get down to a similar level as driver skill.

There are exceptions to this of course but without knowing which camp you fall into, I wouldn't recommend any performance car for fear of you becoming another statistic...

There's been an alarming number of 'young'uns' with fancy cars posting on forums only to have fatal crashes soon after.

 

[Conquistador]

...so I'm looking to buy an AMG with around £20-30k deposit towards the finance...

Personally if I had that amount for a deposit, then I would be looking at a standard hire purchase. A large deposit, then fixed monthly payments until the car is paid off and you own it with n balloon payment at the end (like Ford Options, as you mention).

Interest rate stays the same throughout the term and you don't get penalised for exceeding any monthly or annual mileage limits.

 

[viXe]

Personally if I had that amount for a deposit, then I would be looking at a standard hire purchase. A large deposit, then fixed monthly payments until the car is paid off and you own it with n balloon payment at the end (like Ford Options, as you mention).

Interest rate stays the same throughout the term and you don't get penalised for exceeding any monthly or annual mileage limits.

I think this is what I would do, but judging by AMG's, they seem to devalue pretty quickly.
My personal opinion and thoughts is that an A45 AMG would decrease the most out of the 3 I've chosen, anyone care to agree/disagree with that?

I'm closest to Mercedes Lakeside, so may pop in and ask.

 

[flango]

Probably better of paying for the car outright

Now there's a good way to burn money, it will probably depreciate faster than you can stuff the tenners down the drain.

On a separate note I'd give those AMG cars a swerve, 45's are poor and there is better and quicker out there

C63 is a good car but unbalanced compared to some of its competitors, stunning engine but that's about where it ends

E63 better package all round and well set up, just feels so much better than the C in every respect, performance, ride, handling and to me its better screwed together all IMHO of course

 

[viXe]

Now there's a good way to burn money, it will probably depreciate faster than you can stuff the tenners down the drain.

On a separate note I'd give those AMG cars a swerve, 45's are poor and there is better and quicker out there

C63 is a good car but unbalanced compared to some of its competitors, stunning engine but that's about where it ends

E63 better package all round and well set up, just feels so much better than the C in every respect, performance, ride, handling and to me its better screwed together all IMHO of course

I also went to have a look at a BMW 1M, just wasn't my ultimate car. May wait and see what the BMW M2 or Mk3 FRS brings.

I have money, yes, however I don't want less than around 20mpg... to me, that's just wasting my money. I don't drive much, but I get bored a lot working from indoors and that means I have fun filled weekends lol. But still, anything less than 20mpg is a no-go.

 

[neilrr]

Just for this thread could we have the tags reopened?

 

[viXe]

Just for this thread could we have the tags reopened?

Not sure what that means??

 

[Lee C63]

I also went to have a look at a BMW 1M, just wasn't my ultimate car. May wait and see what the BMW M2 or Mk3 FRS brings.

I have money, yes, however I don't want less than around 20mpg... to me, that's just wasting my money. I don't drive much, but I get bored a lot working from indoors and that means I have fun filled weekends lol. But still, anything less than 20mpg is a no-go.

Dont bother with a C63 if you want more than 20mpg....your dreaming thinking you could get near this.

2000 pound for a C63 to insure....would check again I just paid 1200 pound to insure a 19year old for a 10 year old Toyota Yaris and thats with a daft box thing fitted.

 

[Alex]

Just for this thread could we have the tags reopened?

I'll tag it up for you:

family business, sweet 18, present, 40k car, wish, 20k, can, 20mpg, C220, AMG badge.

 

[viXe]

Dont bother with a C63 if you want more than 20mpg....your dreaming thinking you could get near this.

2000 pound for a C63 to insure....would check again I just paid 1200 pound to insure a 19year old for a 10 year old Toyota Yaris and thats with a daft box thing fitted.

That's with 3+ companies, I live in an OK post code also.
And my current car is roughly 250bhp, had it since I was 17, and that was a little over £800.

 

[viXe]

I'll tag it up for you:

family business, sweet 18, present, 40k car, wish, 20k, can, 20mpg, C220, AMG badge.

Nope, no family business lol.
It's funny how people assume everything is from parents/family, not everyone's like that.

If you knew my name and the right correct terms to search, you'd find me as a director of at least 3 registered companies in the UK, as well as links to interviews etc from online blogs.

Also, I was 18 in 6 months ago nearly, so my parents would be a bit late on that present.

 

[Sp!ke]

That's with 3+ companies, I live in an OK post code also.
And my current car is roughly 250bhp, had it since I was 17, and that was a little over £800.

Is that £800 with you as policy holder or as a named driver?

I struggle to think that could be anything but being insured as a named driver.

 

[viXe]

Is that £800 with you as policy holder or as a named driver?

I struggle to think that could be anything but being insured as a named driver.

Policy holder, with parents/brother as named drivers.

 

[jamesfuller]

You say its going to be mostly a weekend toy! How many miles do you think you will do. Any car is going to look bad on fuel if its only use is for trackdays and 'reasonable' progress!

No point looking at the government figures or comparing with what people get out of a motorway car. Even fairly normal cars can be bought down into the 10's mpg if its given some