2015 E-Class: buy new - keep for 10 years (?)

mark_wny

I hope this question is acceptable to the forum. Most posters here seem to fall into 2 categories: 1) the very rich, who will be buying their car new and tossing it after just 2 or 3 years, or 2) the highly skilled, who are looking at 10 year-old cars and plan do their own m&r (maintenance & repair).

I'm in the middle: I have some money but zero mechanical skills. Here's what I'm thinking - if my figures are wildly off, you can tell me.

new 2015 E 350 sedan
w/ a few options, including
4 yr maintenance pckg 57800
8% NYS tax 4624
M&R, after first 4 years 21600 (300 per month x 72 months)
= 84024
less p/p sale price at end - 10000
total cost over 10 years = 74024 (or 617 per month for 120 months)

This does not include gas, insurance or finance fee (cash deal). I will drive only 8K miles a year. Since no one anywhere has any reliable info on m&r costs, I'm 'guesstimating' they will be roughly 300 per month, once the warranty & maintenance plan are up (300 is a lot of $, if I may humbly submit). In any case, please let me know if these figures sound 'approximately accurate.' Thanks!

Mr_Shiftright

I think your M&R costs are too much unless....UNLESS...you have some catastrophic failure, such as engine or transmission. Given the miles you drive per year, I don't see why your M&R costs after the warranty expires should be any more than $125/150 per month.

mark_wny

Thanks Mr_Shift_right - I hope you are right & I would be delighted to be proved wrong. I've had a hard time pinning anyone down on M&R. I suppose this raises the issue of low-mileage leasing (7500 mi.) - but that's another topic for another day.

stever

The most recent True Cost to Own info we have is for a new 2013 E350 Class. But you could expect that changes for the '14 and '15 models wouldn't be drastic.

ponytrekker

Why would you do that when you could lease 4 brand new ones with full warranties for the same $?

mike2567

I'm in the camp of buying new and keeping for 8 - 10 years. I believe depreciation is the biggest expense over that period of time, and that approach should minimize overall expenses.

As for maintenance, with all the technology in cars now, self maintenance I think is impossible. You probably should budget for twice yearly trips to the dealer after the first 4 or 5 years. Your $300 a month is a bit high, but not way high, I would suggest $200. My S-class was totally trouble free for 5 years, and now I have to visit the dealer a couple times a year. Each "visit" tops $1,200.

It's worth it to me though. 8 years in, and I feel like I'm driving a brand new car.