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high mileage purchase???

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Old 08-16-2009, 09:45 PM
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Default high mileage purchase???

hi all. firstly...im in love with the crossfire, problem is, i dont have one . other problem is i have bad credit and am stuck dealing with "buy here, pay here" dealerships that usually have inventories comprised of higher mileage vehicles. one dealership in particular (that ive done business w before and trust) has a 94 crossfire with 94,000 miles on it for $9,500. the exterior is immaculate...i seriously had to fight the urge to buy it on the spot after the test drive.

after doing some online research im under the impression that mercedes are very reliable, and tend to "shrug off the mileage", and anything with less than 100k still has some serious life left in it. is this true, or am i reading what i want to hear?

i have a few specific concerns. one being the timing chain, ive read it needs to be changed at 100k on alot of vehicles and i assume it would be pricey? anything else i should be concerned with?

really just looking for opinions as to whether this would be a stupid purchase. any vehicle i get will have probably at least 60k on it and will need some maintenance, its just how much that maintenance will cost me.

thanks for reading.
 
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Old 08-16-2009, 10:54 PM
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Default Re: high mileage purchase???

I am going to assume that you did a time warp (its just a jump to the left) & meant that you were looking at a '04 - not a '94. I am in the sub-prime auto business & BHPH should be your LAST choice. I doesn't help you get out of the bad credit loop. You have a hard time paying your bills because of high interest rates, but you get no credit for the loans you do pay well b/c they don't go on your credit bureau. NOT the way to go. There are plenty of sub-prime lenders left & some (like mine) will take BHPH auto credit into consideration with proof of that paid loan. Go to a reputable dealership with a strong sub-prime department - you will need cash down & proof of income/residency. With enough money down you can buy whatever you want .... they are going to approve you for a dollar amount of a loan. Hope that helps on the loan front & I'm sure the guys will put their 2 cents in on the miles thing!
 
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Old 08-16-2009, 11:06 PM
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Default Re: high mileage purchase???

u mean u havent seen the '94 crossfires? yea i meant '04.

thanks for the advice....i will follow it.

as for the mileage, as soon as i posted this, i reread it and decided not to jump on this particular car. i hadnt even considered a crossfire until i stopped by this dealership on a whim and test drove it. i will be patient in my search. in the meantime, i hope to learn as much as possible from this site.

i just kept thinking "$10,000 for this badass car and i can take it home right now" ...haha, glad i resisted temptation.
 

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Old 08-16-2009, 11:13 PM
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Default Re: high mileage purchase???

That IS a lot of miles for a Crossfire - but the price reflects that, IMO.

Timing chain? I have only heard of ONE breaking, that was in a Pontiac in 1975.

Everything on these cars seems pricey to deal with, they all warned me about that before I bought mine. But then, I know two owners personally that have done LITTLE in the way of repairs - and both are over 40,000 miles, one is over 60,000.

As far as financial advice (and I have GREAT credit, but had TERRIBLE credit after my divorce - never thought I'd see the light of day again!), I think Kim nailed it. If you can put enough down, you can finance a car. But it IS a used car and it'll cost you - I have a credit score of 763 and put 1/3 down on Little Debbie and STILL ended up paying almost 8%! Seems high to me.
 
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Old 08-16-2009, 11:19 PM
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Default Re: high mileage purchase???

I got my '04 with a little over 77k miles for 8600 out the door.
 
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Old 08-16-2009, 11:23 PM
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Default Re: high mileage purchase???

Believe it or not - 8% is really good on a 5 year old vehicle. Part of what you are going to pay depends on the state you buy in & the year of the vehicle purchase. If you are sub-prime you can count on paying what ever the state max rate is in your state. Keep in mind, you pay the rates where you buy - not where you live (as opposed to sales tax). When I worked in Jax we had tons of buyers from GA come down b/c the rates on new cars was approx 17% vs 29.9% in GA. When you have less than perfect credit, more than the car price comes into play.
 
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Old 08-16-2009, 11:33 PM
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Default Re: high mileage purchase???

I just got my 2004 last week, $11,900 w/45,000 miles. And they gave me a strong trade allowance on a 2000 Lexus with over 100k on it. This was at an MB dealership.


Shop around, I've seen 04's with under 75k for $10000 or less.
 

Last edited by bigdan; 08-16-2009 at 11:35 PM.
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Old 08-17-2009, 06:11 PM
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Default Re: high mileage purchase???

My car is an '04 with 98176.6 miles and it runs perfectly. So dont be too worried about buying a crossfire with high miles on it, just make sure you are not paying too much
 
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Old 08-18-2009, 11:36 AM
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Default Re: high mileage purchase???

honetly.... look on ebay it might cost you 12 hours driving time but you can pick up some really really nice cars for under 15 grand
 
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Old 08-18-2009, 11:47 AM
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Default Re: high mileage purchase???

Originally Posted by KimPossible
Believe it or not - 8% is really good on a 5 year old vehicle. Part of what you are going to pay depends on the state you buy in & the year of the vehicle purchase. If you are sub-prime you can count on paying what ever the state max rate is in your state. Keep in mind, you pay the rates where you buy - not where you live (as opposed to sales tax). When I worked in Jax we had tons of buyers from GA come down b/c the rates on new cars was approx 17% vs 29.9% in GA. When you have less than perfect credit, more than the car price comes into play.
Holy @#$%>>>>>>>>!!!!!!!
 
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Old 08-19-2009, 10:17 AM
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Default Re: high mileage purchase???

ok, went ahead and bought it. it is awesome! you guys arent kidding about the attention it gets, within the first 30 minutes of driving off the lot i had a lady ask me about it. super excited!

KIM- thanks for taking the time to post up some advice. i did go to a couple dealerships and finally was approved for an 05 black coupe with 50000 miles on it for $13000. but they would only give me 500 for my trade (piece of crud) compared to 1500 from the other dealership, and the interest rate was 18% compared to 5% from the other one. i ended up getting my car for $9000, and after interest the black one would have cost me 6-7k more. on a less logical note... mine is red but i do appreciate you lending your expertise.

honestly, the car looks and drives brand new. it is obvious these things are on a higher level of quality than anything ive ever driven. i even went and test drove an 07 350z for comparison and was surprised by how generic it felt, and at that point i was totally unbiased bc i hadnt bought the crossfire yet. even though the miles are high i cant believe i got this car for $9000. maybe this is a slight exaggeration, but i seriously feel like im driving around in a porsche.

...i dont think the cup holder is that bad either
 
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Old 08-19-2009, 10:31 AM
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Default Re: high mileage purchase???

Originally Posted by ssdark1
it is obvious these things are on a higher level of quality than anything ive ever driven.
Deb Walker's Coupe has around 60,000 on it. It was the first XF I drove that fateful day in June, 2009. I noticed the same thing - it was still "tight" (of course, the tires were new, but still...)

i seriously feel like im driving around in a porsche.
I feel like James Bond (with that British female voice in the Navigation system!) in my Red Roadster. I have found that EVERY TIME I get gas, I get comments on this car - 80% of the time by women.

At one point, I wondered if I bought a "Ladies car" - but I think it's a "Ladies man's car"!

...i dont think the cup holder is that bad either
I thought that, for about a month. Mine is already gone, I pick up my storage bin on saturday.
 
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Old 08-19-2009, 10:42 AM
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Default Re: high mileage purchase???

Originally Posted by ssdark1
ok, went ahead and bought it. it is awesome! you guys arent kidding about the attention it gets, within the first 30 minutes of driving off the lot i had a lady ask me about it. super excited!

KIM- thanks for taking the time to post up some advice. i did go to a couple dealerships and finally was approved for an 05 black coupe with 50000 miles on it for $13000. but they would only give me 500 for my trade (piece of crud) compared to 1500 from the other dealership, and the interest rate was 18% compared to 5% from the other one. i ended up getting my car for $9000, and after interest the black one would have cost me 6-7k more. on a less logical note... mine is red but i do appreciate you lending your expertise.

honestly, the car looks and drives brand new. it is obvious these things are on a higher level of quality than anything ive ever driven. i even went and test drove an 07 350z for comparison and was surprised by how generic it felt, and at that point i was totally unbiased bc i hadnt bought the crossfire yet. even though the miles are high i cant believe i got this car for $9000. maybe this is a slight exaggeration, but i seriously feel like im driving around in a porsche.

...i dont think the cup holder is that bad either
Just on a very personal note I drive a Crossfire and a Porsche Boxter.
The Crossfire is the love of my life [ After my wife --After my wife -- sorry about that honey ]
 
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Old 08-19-2009, 11:03 AM
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Default Re: high mileage purchase???

So, are you paying an interest rate of 18%??!!! Paying bills on time and managing your money (living within your means) definitely has its advantages. I recently paid 17,300 for my '05 coupe with 2,800 on the ODO. My credit score is excellent at 813 so my interest rate is 5.64%....Lesson for the day-- Pay your bills on time and take advantage of low rates....

Monty
 
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Old 08-19-2009, 01:05 PM
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Default Re: high mileage purchase???

no, im not paying 18%. considered it to get a lower mileage vehicle and to rebuid my credit, but there are other avenues for that.

im very financially responsible, but thanks for the lesson of the day, ill try to remember it. now if only someone would have given me the lesson when i was 18 .
 
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Old 08-19-2009, 01:12 PM
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Default Re: high mileage purchase???

Congrats on your purchase and welcome to the forum !
 
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Old 08-19-2009, 02:01 PM
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Default Re: high mileage purchase???

There's an 06 Limited with about 20K miles for sale in my area for 12K but I bet he'll take less so 9k doesn't sound like much of a deal to me.
 
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Old 08-19-2009, 03:40 PM
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Red face Re: high mileage purchase???

Oh crap, I bought one with 75K miles for 9400 (+200 paperwork fee). Oh well, only money I guess.

em4ce
Shawn KD

Originally Posted by AlG
There's an 06 Limited with about 20K miles for sale in my area for 12K but I bet he'll take less so 9k doesn't sound like much of a deal to me.
 
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Old 08-19-2009, 03:47 PM
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Default Re: high mileage purchase???

I paid 15K two years ago with 42K on the speedo......still the best Grins per Mile I ever invested in !!!
 
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Old 08-19-2009, 03:48 PM
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Thumbs up Re: high mileage purchase???

The nav system has a female british voice?? or were you kidding about that?

Shawn

If so - got to have one - what years available??

Originally Posted by pizzaguy
Deb Walker's Coupe has around 60,000 on it. It was the first XF I drove that fateful day in June, 2009. I noticed the same thing - it was still "tight" (of course, the tires were new, but still...)


I feel like James Bond (with that British female voice in the Navigation system!) in my Red Roadster. I have found that EVERY TIME I get gas, I get comments on this car - 80% of the time by women.

At one point, I wondered if I bought a "Ladies car" - but I think it's a "Ladies man's car"!


I thought that, for about a month. Mine is already gone, I pick up my storage bin on saturday.
 


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