I’m the type of guy who likes a low or no car payment, so here is my recent purchase.
Took a trip down to the Pocono Mountains with my brother this weekend to pick up this land yacht for myself. I’m an old Ford Tbird guy ('89,'90,'95,'96), so this is the next best thing since I wanted a 4.6L and RWD.
08 Mercury Marquis, 25k miles, basic options but full leather. New tires, new brakes, ford certified. Balance of Ford Factory warranty (not much left).
Bought at a Ford dealer, trade from a grandma I would assume.
Dealer was asking $11,500. My brother is a great negotiator, talked them down to $9500 for the car, then they gave $2500 for my 03 Saturn Ion with a slipping clutch, suspension problems, and bad bad brake problems.
Walked in there with a 837 credit score, walked out of there with $0 out of pocket but the trade, $143 per month on a stretched out loan with a 4% APR.
Knowing me, I’ll probably pay the thing off in 1 year but honestly its nice to know that interest is only around $100 bucks a year on this thing.
Insurance is $290 for 6 months for full coverage.
It was either this or a new civic lease, which would have been around $7500 also. The merc just seemed to work out better for me, and I’ll keep the car for 5-6 years like I always do, plus I can ride in some comfort (I’m 6’5’’).
Scheduled MODS/MAINTENANCE for the car is going to be
–Send it to my buddies body shop to get the gay carriage top removed. It will probably need some paint work and light body work to fill some holes drilled into the roof, but it should be much nicer looking after that
–Light TINT, a new headunit, and remove the stupid badges and decals from the car
–Take it to my buddies shop for coolant, fuel filter, transmission fluid change, and rear axle fluid change. Car also has one slightly bent wheel, so I’ll call LKQ and get that put on.
Other than routine maintenance, I’m good to go for what 300k miles? I’m moving to Austin soon and I think the 24 hour drive will be an absolute joy in this land yacht.
BTW- I averaged 24mpg doing 75mph home from the Pocono’s. I have yet to see any city mileage, but expect around 17-18mpg. Car is also a flex-fuel, so I may toy with a few tanks of ethanol to see what that is all about.
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