As I indicated the other day, we have been considering purchasing a newer vehicle for my wife. While she chickened out on doing the deal initially, we have decided today to pull the trigger. We’ll be picking up a 2011 ML350 in excellent condition (55K miles) tonight.
We have already received the loan via bank wire from LightStream (a company that we used to finance our last vehicle purchase). Here are a few of the details:
- $31,768 Vehicle cost out the door
- $26,000 loan (2.59%, 72 months)
- $5,000 trade-in (2006 Honda Accord with 120K miles)
- $768 down payment
- $390/month payment
We’ve been without a car payment for quite some time, so $390/month is going to be a bit of a shock to our systems. That being said, my wife works incredibly hard and spends most of her day in her vehicle, so it is well deserved.
Opulence, I Has It, Consumerism, I Has It Too.