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I WROTE AN ARTICLE in 2019 titled Mercedes and Me. It was about my 52-year quest to fulfill a promise to my father—one I’m sure he never even remembered. My promise: to buy a Mercedes, a vehicle my father sold for many years but could never afford, even at dealer cost.
In 2014, after 10 years of diligent saving, I achieved my goal. I paid $60,000 in cash to make good on my promise and to fulfill my dream.
Now, the car is nine years old. It’s been driven 118,000 miles, including three cross-country trips, on one of which I recklessly reached 115 m.p.h. As best I can determine, the car is worth $12,000 to $14,000 today. It isn’t hard to see that buying the vehicle wasn’t a good financial move. Even I know that.
My wife and I are talking about getting a new car. Yup, another Mercedes.
Do I need a new car, let alone a Mercedes? Of course not. My wife has a three-year-old car with just 18,000 miles on it.
Do I, at age 80, deserve a new luxury car? Nobody deserves such a thing.
As you might gather, I’m trapped between emotion and common sense. Not long ago, I wrote about why emotion-driven spending is risky. Yet here I am, struggling to follow my own advice.
The author’s Cape Cod vacation home
In the greater scheme of things, a discussion about buying a car with a price tag close to the national median household income is ludicrous. In fact, as I write this, I’m sitting in our vacation home—another costly luxury and another emotion-drive purchase. My realization: This debate I’m having with myself about purchasing a new car isn’t about the car at all. Rather, I’m trying not to feel guilty about what we have, even as I also try to avoid turning into a money-obsessed Scrooge McDuck.
Yeah, it’s valid to say I earned what I have. But that doesn’t help. Most people earn what they have, many working a lot harder than I did. The truth is, I’ve been fortunate my entire life, and I didn’t earn that good fortune. I lost just one job since graduating high school. It was my first job—and it had only lasted a week.
Sometimes, working hard isn’t enough. Illness, divorce, layoffs and more can throw our financial lives off track. I see this with my four children. Like most Americans, they’re trying to cope with medical bills, upcoming college costs, saving for retirement and paying everyday expenses. They all work hard, but serious illness and job interruptions have hurt a couple of them.
While I recognize that luck has been on my side, I also haven’t abandoned my curmudgeonly view of people who waste money and fail to plan, and thus end up in debt and facing a bleak financial future. My wife and I can claim a good measure of frugality during our 55 years of marriage. Hey, the price of my favorite oyster cracker has gone through the roof, so I’ve switched to the store brand. We may have been lucky, but we’ve also been prudent. Shouldn’t we get credit for that?
I fear I’ve grown out of touch with the financial reality of most people’s lives. I suspect that may also be true of other HumbleDollar writers and readers. Think on this: The median monthly income for Americans age 65 and older is $3,968. Among Social Security recipients, 37% of men and 42% of women receive 50% or more of their income from Social Security. In fact, 12% of men and 15% of women rely on Social Security for 90% or more of their income. That’s the retirement reality for many seniors.
Don’t misunderstand me: I’m not super-wealthy. My assets were accumulated over 60 years. That’s a lot of time to sock away money and benefit from investment compounding. Most of my wealth was amassed by saving in my employer’s 401(k) and stock purchase plan, and through bonuses and stock awards during the final five years of my career.
The bottom line: I’ve been successful and many others haven’t, though often through no fault of their own. Dare I take credit for what I have? Should spending money on luxuries cause me guilt? Adding to my feelings of guilt: I could pay for a new Mercedes with the increase in my portfolio’s value over the past year. I didn’t do a thing to earn that money. It’s just passive income, right?
Just for fun, I asked Google, “Should I feel guilty about spending money?” The search turned up answers that discussed setting a budget, personal values and struggling to make ends meet. In other words, underlying the answers was the assumption that folks didn’t have enough money.
One notion I came across in my Googling: It’s okay to spend money on things you enjoy. If you’re spending on things that make you happy, you shouldn’t feel guilty. That sounds like a solid 21st century justification: If it makes you happy, just do it. Seems a bit short-sighted and selfish to me.
Back to the Mercedes. Am I going to buy a new one? I still have some thinking to do. After all, I fulfilled my original promise to my father. Is buying another one about status? At 80 years old, I like to think I’m beyond that. Besides, the price of many Mercedes, including the one I’d buy, is less than that of many pickup trucks and SUVs. If I wanted a status symbol, I should probably buy one of those.
At this late stage, is it worth trying to overcome my feelings of having too much, of spending too much, of being too fortunate? I’m not sure. But let me tell you this: If I ever win the lottery, I’m going to be in a real pickle.
Richard Quinn blogs at QuinnsCommentary.net. Before retiring in 2010, Dick was a compensation and benefits executive. Follow him on Twitter @QuinnsComments and check out his earlier articles.
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Glad to hear you’re questioning your past decisions and current feelings of guilt about enjoying what you worked hard for. Also glad to hear that you’re acknowledging the contribution that luck makes to your success (and imho everyone else’s for that matter).
Here’s a possible point of dissonance for future pondering. You wrote:
And then you later wrote:
Perhaps as you reflect further on your good fortune while paying attention to the plight of others, you’ll realize that your curmudgeonly view is just that – and perhaps worth abandoning.
Lean into your abundance, and show compassion and empathy for those who have been less fortunate. And enjoy the hell out of that new Merc. I’m sure your father is up there sitting on a cloud smiling with delight.
I guess it is true. People do get smarter as they get older.
I like to think so.
During the covid crisis my wife and I decided it was time to replace two of our three vehicles. First, we purchased an Acura RDX at dealer’s list price. Second, my wife had her heart set on a new Subaru Crosstrek in gray color. Due to the shortage of vehicles in the middle of the Covid crises it took about six months of surfing the internet to find the exact Crosstrek from a dealership within driving range. My wife had her heart set on the Subaru Crosstrek, especially in gray, her favorite color. Visiting the dealer, we found the exact car. I knew when I saw the car in the back lot that I was going to make this purchase. The mark-up this time was $3,000 over the dealer’s invoice. In my mind, I knew I was going to pay the piper as this could be that last car we buy. I hope not, but it could be.
Returning to the salesperson’s desk I questioned the $3,000 mark-up. Naturally, he had to check with the sales manager to see if there could be an adjustment on the mark-up. The salesperson stated that if we could fully pay for the car that day they would shave $500 off the $3,000 mark-up. The deal was completed .
Today, we are both loving our beautiful Subaru, Crosstrek. In fact, I like driving it more than the more expensive Acura, RDX.
Go ahead and enjoy yourself!! So, you die leaving a few dollars less in the kitty.
So … “I’ve been fortunate my entire life and I didn’t earn that good fortune. Sometimes hard work isn’t enough” I would tend to agree. Just surprised I haven’t seen a bunch of those “The harder I work the luckier I get” and “You make your own luck” comments. I’m sure Mr Quinn and many of us have done a tremendous amount of hard work, sometimes rewarded and sometimes not so much. Call it what you will – Luck/Providence/being in the right place at the right time etc… Not everyone born on third base hit a triple Happy Labor Day
I’m much like you. I don’t enjoy cars and would rather spend my money elsewhere. I do have a proclivity for cigars so there is that, but be that as it may, cars to me are such a burden. I have a 2007 Mercedes I purchased for my wife and drive it now since my SUV of 17 years and 206k miles basically was on its last leg. I sold it for $1600 and never looked back.
my Mercedes has 163k miles on it and is still in great shape. I feel if I can get it to 200k miles without any hiccups I will win this game. My next vehicle will likely be my last purchase being that I hope it gets me through another 20+ years. I hear those tundras can get you close to 500k miles if you treat them right or maybe a diesel engine. I just want something that won’t give me trouble.
every time I have to take my car into the shop, I battle with cost of repairs and then tell myself, this is a 3-4 month breakeven for me if I don’t purchase a new car. The issue is, what’s the next issue that arises, will I just continue to pay out of pocket until it gets extreme? Who knows, but the car has been solid altogether.
for those that are asking, I purchased a BMW x3 2014 for my wife 6 years ago for 25k with 20k miles. It now has 110k miles in it and been relatively good.
the real question you have to ask yourself, is this about you or about leaving a legacy? You are now 80 years of age, get all the bells and whistles and enjoy life.
I’ve owned over 3 dozen cars.
A few years ago at retirement I came to realize the waste of money, to say nothing of impact autos pose our our precious earth .
There will be nearly 15 million cars produced this year alone worldwide.
Im retired now on Hawaii Is with 2 older Toyota trucks, combined milage 390,000 miles. My wife’s orders are to bury me in my 2000 Tundra. The best vehicle I’ve ever owned.
If I was handed a new Mercedes tomorrow, (yesterday, never a fan) I’d put a for sale in the widow, for that matter any new car with all its “modern”technology that one day will be the dealer’s and my pocket’s problem.
I dont need cameras, screens, tire pressure gauges, seat warmers, god know what all, and certainly not hands free. Really!? While half US cities have polluted water?
Now you hand me the keys to a classic professionally restored American car from the 50s or 60s, thats my kind of automobile reality.
I’m surprised you’re considering a new car. 9 years and 118,000 miles really isn’t that much these days. My dad bought a Mercedes in the 60’s and justified it, despite teasing and ridicule from neighbors, by citing the quality and potential longevity of the car. He did, in fact, drive that car for 25 years. The abusive neighbors probably spent 2-4 times as much as he did in that 25 year period buying Detroit cars that didn’t hold up so well.
Sadly as they say, they don’t make them like they used to. Mine just had the subframe replaced because of rust. It was a recall so Mercedes paid the $7,000 bill. But the real thing is it doesn’t have many safety features, driver alerts or technology conveniences such as Apple cay play. I do quite a bit of long distance driving and I enjoy the perks.
I understand what you’re saying. I recently had a shop install a new audio/visual screen in my 24-year-old Landcruiser with CarPlay and so on for about $125. I drove down the road away from the shop feeling like I had a brand new car.
Reference the pickup truck discussion: We live in Montana, where a lot of us drive pickups, and, even if they are not work related, we need them. I personally drive a relatively inexpensive 2016 6 cylinder Ram diesel pickup with over 150K miles on it, and will probably keep it until the wheels fall off. The reason most of us drive pickups here is for the occasional use that nothing else will do for (towing heavy loads, backcountry roads requiring high clearance and 4WD, hauling large loads). Personally, being an environmentalist very concerned with climate change (my house’s electrical needs are powered entirely by solar), I feel a bit guilty about the CO2 impact of my truck, and would love to switch to an all electric pickup, but the total lack of charging infrastructure here precludes that at this time.
Sounds like you indeed one, but that’s rarely true for those of us who live in urban areas.
Great article spurning lots of discussion. I’m 52 and have been an avid reader the last year or so. I read an article which asked the question ‘isnit the item or the experience that matters ‘? Or something along those lines. If I were in your shoes, I’d value the experience… Here’s how to have both… Lease the car Rich! Do a three year lease and then turn the car in. I’m not sure you’re gonna care at 84 years old what you drive then. But you’ll have scratched the itch, gotten to drive a coolm car and not necessarily throwing away cash on the car beyond the lease payments. Hope this helps with the decision. I might be interested in a nice used Mercedes with 110k miles if you want to do a private sale.
Funny, I bought a 2019 Mercedes E450 wagon. I had no hesitation whatsoever, as I’ve driven Volvo wagons for 20 years. They lasted forever and were very safe cars. I planned on getting another, until Geeley, the Chinese company that bought them, jacked the price up to almost Mercedes territory. I always buy a year or two old, and this one was a courtesy car that only had 7000 miles on it. Stickered at 74, I got it for 59. I couldn’t believe the price, and the sales guy said nobody wants a station wagon so we kept dropping the price. Lucky me, best car I’ve ever driven in my life.
BTW, I worked my tail off owning my own business. I can’t believe the writer had to think hard about it. You worked your entire life, you should buy whatever you want to.
Sir, just my two cents, but I say you’ve reached 80 years and have lived a financially responsible life, by all means go ahead and make this purchase! Yes, you have earned it.
I’m surprised at you. Hell, NO. Stay frugal.
Okay, i won’t get the lighted star or door sills.
Excellent job generating discussion! Still, now I understand–you can afford that Mercedes because you buy store brand oyster crackers….
Hey, it all adds up and I don’t have any tattoos either.
Ah! The classic need vs, want dilemma! At 118,000 miles on a Mercedes, the truth is you don’t really need a new car. Your current Mercedes should be able to go another 100,000 miles without major incident. Sure, the leather upholstery might be a bit drab and some of the new safety features are sort of cool, but this is really more about want.
Personally, I have always wanted a Porche and can afford to have one. But aside from the fact that old guys look silly in fancy sports cars (my “babe magnet” days are long over!), there is the embarassing reality of what it would take to crawl in and out of a car that seems to be -2″ off the ground.
The other demon I fight is that cars, like boats, horses and motor homes, tend to have poor returns on investment. They literally bleed money from every pore from the day you buy one to the day you sell it. There is a very good reason that boat owners say the best day of ownership is the day they sell their boat to someone else.
So, this decision is purely about want, which is hard to quantify or explain in any meaningful way. Having a car that your father coveted but could not afford is a powerful motivation. So, I guess the best advice anyone could give is that if you can afford the cost of a new Mercedes without impairing either your lifestyle or retirement safety net, then why not? After all, the old adage “you can’t take it with you” remains as true today as it ever was.
Thanks again fo your great article.
Reply to Charles Brown.
I understand your comments as I am trying to justify a 60K pickup to replace a perfectly good work truck when I realize how far that would go at the local food bank or with Drs Without Borders etc.Using RMD would save taxes also. Just surprised at the negative feed back from readers.
Richard thanks for a most interesting post. I can picture your dad attempting to sell the vehicle years ago and not being able to own one. What a lesson in keeping bread on the table while caring for a growing family. Keep us all posted on HD if you follow your up on purchasing one.
My dad also sold Packards, Edsels, Renaults and Studebaker before the Mercedes, not a great track record. Eventually he could buy a Studebaker Lark.
I don’t think the new car is a great idea. The first one was the accomplishment of a lifelong goal. The happiness (I am appalled at the thought of anyone driving 115 ANYWHERE!) it brought won’t be replicated. In fact, a second bought at this point in your life could be seen as whistling past the graveyard.
Shocked perhaps, but appalled? The posted speed limit in Montana is 80. It takes but a few seconds to reach 115. The roads are straight and flat for many miles at a time hardly anyone else to be seen.
I am reasonably certain that status has very little to do with your desire to buy a new Mercedes. I am also reasonably certain your family shares your fortunes with those who are less fortunate in life.
Perhaps, it is nostalgia and the sense of adventure unique to an 80 year old? I’d say, go for it if it brings a smile to your face and cheers up those around you.
I have the same feelings about wasting money on things that are not really needed. I’m sure these feelings come from growing up poor in a housing project on welfare, raised by a divorced mother with 3 little kids. I was fortunate in that I took advantage of programs offered to economically disadvantaged youth, so was able to go to college. Unfortunately, there aren’t enough of those programs around.
I don’t like overspending on cars either, which is why I always buy Lexus RX models, starting back in the ‘90s’. My 2020 RX450H hybrid cost less than the $60,000 you paid years ago for your MB. Before purchasing, I always looked at BMW and Mercedes, but after reviewing quality scores and the pricing (BMW and MB so much costlier with less quality scores), I always stuck with Lexus. I’m not super wealthy, like you, but what is really super wealthy nowadays? My kids will all get a 7 figure inheritance, and then have to sell our house. Nowadays that is not super wealthy. But it is all relative.
Like you, I feel I have been lucky, but I also acknowledge that I took risks, changing careers and worked long hours. I made a lot of money but felt I deserved it. I have no pension, just SS for my wife and me. But with no debt, our spending needs aren’t even 1% of our liquid net worth, on top of SS.
I don’t think you should feel guilty spending your own money. Do what makes you happy. We’ve given our 4 kids 20% down payments for homes, which are not cheap here in the northeast. Paid their college costs. That makes us happy.
Just came back from a few days in Vegas, saw Adele and flew 1st class. Costs for food and drink there are outrageous, but it was a vacation. Didn’t feel any guilt, although I didn’t like the overpriced everything. Vegas was packed, as were the airports, so others are spending their money.
So, if you want a new Mercedes, go for it. At some point, I am sure your kids will love inheriting it
You already have one you know the history on Rich.
A 2014 if I read your OP correctly.
If you already have one I’d advise keeping it Rich.
I’d suspect emotion is a large part of your thinking, as you also recognize, and your trying to justify it vs a dual axle Ford F350. Those prices are crazy also. I’d advise against it, but we know it’s your call Rich.
Good luck!
I recall being in a short convey of military vehicles on the autobahn in the early 70’s and seeing a Mercedes pass us like we were standing still. A car company can not buy advertising to give me desire to drive a Mercedes like that experience did.
Alas, the closest I came was driving a used 1963 Austin Cambridge that my Aunt had bought. It had about 60 horsepower and an apparent design flaw that caused the electric starter to fail on a regular basis. Apparently, the manufacturer was aware of the problem so the car came with a hand crank which you inserted through the front bumper to allow you to start the car.
I had a similar experience in Munich, except that it was a BMW. It took me 20 years of delayed gratification to buy a BMW 328i that is still going strong, a decade later, with 128,000 miles on it.
I think there are a lot of folks on this forum that are on similar paths as yours. I’m about 15 years behind you in key respects, i.e., age and lifetime financial goals. I already wrestle with your same personal questions and issues about spending off some of my savings/portfolio profits on things never before affordable to me or anyone in my family. My method isn’t for everyone, but here’s how I look at it.
Ignor all sorts of your current steady income streams, and calculate 2% of your current portfolio. That’s your annual budget for everything, including your fun money. It’s all guilt free spending at that point, becasue your portfolio should still be increasing each year. I am just crossing that threshold now, where my guilt-free 2% amount will cover all of my usual frugal spending habits, and I can start increasing the smallish amounts I’ve been spending on the things that I do for fun and enjoyment. It sounds as though you’re well past the time when you should have lost the guilty feelings. Life long diligence in managing your lot in life, and doing a good job it, is a career in itself. It’s how you make your money in later life. Your heirs and favorite charities will be glad you did a great job for them, and for yourself, too!
You’re a bit more adventurous than I am. I like an income stream that is a steady stream not variable based on markets. Again my good fortune shows as I live on a pension and Social Security. Maybe I’ll send my RMD to Germany though.
We are also receiving a generous single pension and Social Security, and have the good fortune of saving of all that, while paying off all our debt (over a decade ago). We havn’t starved ourselves, though. 1 main home and 2 vacation homes, but nearly no traditional vacations – about to remedy that situation this year! The pension and SS payments go straight into our investments in equities. As a precaution, though, we do calculate our 2% of investments budget amount as an average of our last 3 year-end investment balances. That has given us a smooth upward curve for the last 2 decades. Over the last 20 years, our annual budget amount decreased only on 2 occasions. 2008-2009 and 2020. Both times the decrease was minor enough to stay the course. I was still employed for the first market decline, and on a pension for the second. Overall, our self-imposed draconian method saw a civil servant and a secretary through to financial independence. We don’t need the pension or SS anymore, but we certainly invest it, only to increase our 2% each year! We have peace of mind. we are guilt free, and our 2% annual budget figure grows and grows. America and index investing is a good thing. Our philantropy begins after we finish living. So buy the MB already, and don’t feel guilty.
Perhaps some luck but lots and lots of hard work, committment and thrift. No comment on the specifics but if you can afford it and it will bring you and/or yours pleasure-GO FOR IT!! I admire that you know what you want, after years of thrift and self-denial one can lose their appetite and that’s sort of a tragedy for them and a boon for their heirs.
Having a healthy relationship about money especially as we grow older is everything. Teaching our kids not only about money but also how to have a healthy relationship as foundational, is everything!
You have earned the right to enjoy your money! Get the Mercedes and treat yourself and buy an upgrade!
Oh, the woes that American prosperity produces! Here we are debating the merits of buying a new Mercedes (symbol of success) to appease one’s narcissistic appetite, which provides a temporary fix in an adrenalin rush, when we could make a difference in the lives of people across the world by
providing them food, shelter, and clothing in order to survive, which by the
way produces a high unlike any Mercedes could ever do; for it is not just about me; rather, what can I do to make this a better world – to enable other people to simply survive? After all, I have never seen a U-Haul trailer behind a hearse. If you can’t take it with you, consider spreading your wealth around
to make a major difference in peoples’ lives. And prepare for an unbelievable
“high” just knowing the difference that you have made in the world.
Why assume that helping others is not part of my equation as well? That’s what QCDs do. Where do we make the divide between buying things and doing as you suggest?
I would suggest that anything we buy puts food on someone’s table and a roof over their head. Even Mercedes has plants in places where workers value those jobs.
Many thoughts cropped up reading this. When I read your comment “people who waste money and fail to plan” reminded me of professional sports players. Perhaps a future story with your point of view, if you have any thoughts about it, would be interesting?
Not sure what your hatred is about pickup trucks; you’ve complained about them for some time. Is it the character of the driver or the truck itself? I view someone with a pickup truck as a hard working person. Your Cape Cod home was probably built by several people who brought their tools and supplies with them in a pickup truck. Think of all the businesses you visit, such as Starbucks you wrote about and noticed the number of annoying trucks visiting that location. Probably a hard working person drove a pickup truck to help build that establishment. Are you criticizing the many people who make life more enjoyable for you because of what they drive?
If you want the Mercedes (a status symbol), then get one. No reason to boast about it. However, I think it would be good to write about how much it cost to maintain one…especially if you take it to the dealership for maintenance.
Keeping a promise to your father and getting a Mercedes shows how much you appreciated him and all the years he worked hard selling that brand. I admire that! My father was a hard worker with his own construction company and he needed a truck to earn a living and because of its usefulness. My son-in-law has his own business and has to have a truck. I have a 30 year old truck and would like a newer vehicle. Do I get a truck or SUV? A Mercedes is not in the cards.
Not everyone with a pickup truck is a laborer, if that is what you appear to be insinuating. Many buy it because it is the ‘in’ thing, or to keep up with the Joneses. Or maybe they just like trucks. He isn’t saying anything about the people who drive them. Truck drivers cross all economic and political boundaries. I bet a high percentage of owners never use them for anything other than carrying mulch from the local hardware store. You also associate pickup truck drivers as ‘those who make life more enjoyable for you’. That’s a big stretch. How about doctors, teachers, fitness instructors, and on and on ad nauseum? Don’t they make life more enjoyable for us?
My beef with trucks (and maybe Quinn’s as well) is all of the folks that buy them but rarely if ever use them for the purposes you note. Heck, in my area, they drive dually’s for Wall Mart runs. My neighbor has a tricked out diesel F250 that I have never seen tow or haul anything. Literally every other house in my neighborhood has a PU truck. Of course one has the freedom to drive whatever they want. But collectively we pay a price. Road safety (truck are inherintly more dangerious to pedestrians and other vehicles), fuel consumption (imaging the millions of more gallons of fuel America consumes because sedans have been replaced by 4dr trucks). The SUV craze of the 80’s (another vehicle that few ever needed to drive – most admitted that the minivan was the more logical choice but did not want to be seen as a “minivan driver”) was replaced by the current PU craze.
Two of my sons have pickup trucks. One uses his for his business, the other …
Nothing wrong with a pickup trunk, especially when used for the purpose designed. I just think many people spend a lot of money on a truck because it’s cool. Why would it be the largest selling vehicle?
My perception is that those who do so going along with the trend are likely people who can’t afford that luxury. I also see massive SUVs that will never leave a paved highway as more of an unnecessary luxury- often more expensive than my car.
But we are to assume that every driver behind the wheel of a Mercedes can “afford that luxury”? That only the drivers of trucks and SUVs spend beyond their means? I don’t buy that. (Speaking of not buying, many luxury car drivers apparently don’t buy the cars they drive. One source estimates 70-75% of luxury cars are leased compared to 25-30% for non-luxury cars. https://www.leaseguide.com/articles/luxury-car-lease/.)
If you can afford it and it gives you joy, buy and drive what you want, be it a truck or a Mercedes. If you think cars are bad for the environment, don’t buy cars, luxury, SUV, or otherwise. If electric is your thing, go for it. Regardless, don’t judge someone by what they drive or don’t drive.
Me? I derive great joy from, and take perverse pride in, driving my beaters into the ground.
Remember, “you can’t take it with you”. If, as it sounds, you have no concerns about running out of money, why not enjoy it? Deferred gratification doesn’t require you to defer for ever. In any case, according to Mercedes-Benz’ US website, you can buy a Class A sedan for $34,000, which I gather is not out of line with other makes. Sadly, I suspect a plug-in hybrid would cost more, but although MB claims they make at least one I can’t find it on their site. My current car is a regular hybrid but I expect to replace it with a plug-in.
Although I enjoyed the Mazda sports coupes I used to drive I have never understood the love affair some people have with cars. I just want mine to get me from A to B, reliably and comfortably. I don’t even care so much about fast these days.
You’re a goal-oriented fellow. In most states your Mercedes would qualify for “historic” plates in just 16 years. I can easily picture a still-feisty 96-year-old Dick Quinn driving to the store for oyster crackers in his sparkling clean classic Mercedes with those plates.
I’m with you David. I might even buy the brand name crackers … if I can still chew them.
Like you, I was thrilled to pay cash for my first Mercedes, a 2014 E250 (“clean” diesel) AWD that had all available safety and driver assistance options. Also like you, I’ve had it serviced exclusively at a dealer, including the emissions modification/recall that finally made it actually clean. I’ve enjoyed driving Maximillian Mercedes every single day. I winced at the charges of annual service and (post-warranty) frequent repairs but told myself it was getting cheaper by the year as depreciation tailed off.
But this summer, the technician saw a broken rear spring and documented corrosion on the brake lines. No way to determine how close the brake line was to failure, they said. An estimated repair cost of up to $6k brought my delight with Max to a wistful end. I figure “Drive it until it dies” no longer applies when the car’s value drops to $12-14k.
So will I get another Mercedes? Nope – a Kia EV6 electric car sits in my garage, giving me just as much delight as Max the Mercedes.
You loved your old mercedes and you will love your new one! You are not just buying things you hope will make you happy you know it will make you happy. Buy it today!
Anyone else have a Janis Joplin song going through their head while reading this?
Couldn’t resist:
https://www.youtube.com/watch?v=4E2_zay3B6Q
I’ve heard he only leases
Dick, there is a beautiful tension between the blessings that come to us outside of our control and our responsibility for managing those blessings. Even the ability to manage them is something that is given to us, and no reason for pride. That being said, there is also no reason for guilt over enjoying the blessings. If there is guilt, however, maybe the tension is between covetousness and contentment.
Then again, maybe we’re thinking of this wrongly. Instead of keeping your money in a vault letting it grow moldy, why not spread it around for others to enjoy? The folks in my part of the nation who build Mercedes would love for you to purchase a new car—it keeps their jobs going to feed their families.
Now you are adding to my guilt Edmund. I only consider a Mercedes a Mercedes if it is built in Germany. I learned that only certain models are still built there though.
Comparing yourself to anyone else regarding working hard, good luck, circumstances, health status etc… is absolutely pointless. We evaluate our own situation and make decisions from there. It’s the only the life you’ll ever get, live it the way you want.
Richard,
It seems like you are “suffering” from 60 years of prosperity. 🙂
We only have some 43 years of prosperity.
I know I have had “a privileged life”.
I also feel that I “gave back” to society by working for about a decade-and-a-half at a ‘Not For Profit’ organization where my pay was … reduced.
Also we make monthly contributions to food banks and homeless shelters.
Don’t feel guilty about your good fortune.
Much of it stems from living in The USA for the last 7 decades. And the good luck of having been born in the second half of the 20th century.
I think you’ll get a lot more for your Mercedes than $12-14K. My son received $17,800, net of $500 deductible, for a 2016 base model Honda Accord. So…it may cost you less than you think.
I’ll be the contrarian here, yes, you can afford it, but your current luxury German-engineered ride is slightly over half its life. Aren’t you the frugal guy on this site? 🤔🤣
If you’ve maintained it well, drive it into the ground. Do you really want to lose a chunk of dough driving a new one off the lot? Wouldn’t a lovely vacation with Mrs. Q be more fun? Or commence a scholarship in your names at your favorite educational institution?
Don’t like that advice? Then at least buy a certified used one. We’ve owned four, all bought used, one was VERY used, a 320 for our son to get back and forth to school. It was a tank. We named it Otto. That’s the one I regret, head gasket went within the year, of course after putting new tires on it. Important: besides finding a stellar doctor, lawyer, and accountant, a good mechanic should be next on the team. And utilized BEFORE buying an old car!
Our first 350, Karl, was a delight. If one can love a car, that was the one. It cycled through our family, with my husband driving it as his business car first. Then two sons drove it, those were their best years on campus! I enjoyed it, too, for a short period of time, when I finally didn’t require my Sienna. Karl sank out budget in the end. You know how expensive maintenance is on these buggers. We fixed him up and sold him off. That one still stings.
Our second 350 “Zephyr” sat too low to the ground for my liking, but it was a beauty. Happily my husband didn’t love that one too much, as it was traded toward my RDX, “Daisy.” As you fulfilled your promise to your dad, this summer I had to oblige to my husband’s retirement desire for a convertible, so here we are, zooming with 2017 “Pinny.”
Let us know what you deside. I DO understand the allure of a Benz. I think a new Hyundai could make you happy too, and you’d save a few bucks!
xoxo, Mrs. Curmudgeon
See, there is the problem. You are being too logical 😃 I may be in the ground before the car if I follow your advice.
I have maintained it. I’m one of those weirdos who take their car to the dealer for every service and over pay in the process.,
Actually, I was toying with the idea of a Maserati, but the $100,000 + price was scary plus if my wife and I got in, I doubt we would ever be able to get out.
Whereas, aside from initial servicing, warranty repairs and recalls, I avoid dealerships like the plague. I don’t trust them (with reason), while I do trust the small, family owned, service shop I have used for decades.
There are advantages and disadvantages to using private owned shops. The bad, is the inconvenience of always having to leave the vehicle for the day. I used privately owned for many years and now only go to the dealership. At a dealership I might wait and hour or two in a nice waiting area with WIFI, drinks and snacks. I have found that a privately owned business charges about the same as a dealer. The technicians are better trained at the dealer. Unless the privately owned location has a least one master mechanic, you’re probably better off in the long run at the dealership. Sometimes the dealer has better offers on brakes and tires. Either way, they’re going to get your money.
I had to threaten to have my current car declared a lemon before the dealership fixed the AC so it stayed fixed. The previous dealership had an accident with my car during a “test drive”. All the dealerships I’ve used have told me I needed work done that an independent mechanic said was unnecessary.
The independent I use is five miles from my current apartment and will be two miles away in October, while the dealer is 13 miles away on busy roads. The independent has a waiting room, although it’s not as plush as the dealer, but the repair and part shops are how the dealers make their money.
Don’t forget to factor in how many years you expect to be driving. We all know one or two amazingly good drivers in their 90’s. But there are many others who don’t or shouldn’t drive.
My pointy head aside, I’m not as sharp as you. The evolving self-driving vehicles are my only hope of “driving” in my 80’s.
You’re scaring me. The thought of not being able to drive is one of my worst fears. In my youth I was a sports car rally driver and on occasion my wife accuses me of reverting. That’s why out west I only exceed 100 when she is sleeping.
Not being able to drive is a real concern in most of the US. (My mother, living in England, never learned to drive and managed fine.) However, the accident that totalled my beloved MX-6 was caused by an 80 year old driver who turned left across two lanes of traffic, and my father continued to drive past the time he should have stopped. One plus for the CCRC I chose is the bus stop right outside. I don’t think self-driving cars are going to be a good option in time for me, but the additional safety aids on new cars may help – if they don’t drive me nuts.
Because of my wife losing sight in one eye from a baseball, we bought a car with all the driver assists we could and they do help, especially the sensing when a car is coming from the side or when you may drift over in your lane.
I remember the last time I saw my father. He was driving me to the airport in Key West, which is where he lived fulltime for the final 15 years of his life. We were driving up South Roosevelt, and he managed to perfectly straddle the dashed line that separated the two lanes on our side of the road.
Dave Ramsey says, “you should live like no one else so later you get to live, and give like no one else.” And speaking of the lottery, I worked for a family a few years ago that actually won several hundred million dollars through the good fortune of a lottery ticket. I remember the husband telling me that before winning he and his wife never made more than $45,000 together in one year. Yet, afterwards it was interesting to notice they struggled with the same issues as you, but dealing with a lot more zeroes!
“Our doubts are traitors, and makes lose the good we oft might win, by fearing to attempt’ – William Shakespeare (from Measure For Measure)
Dick, If it were me…I would buy it tomorrow, drive it with great pleasure throughout my waning days (indeed, until wheels fall off) and then leave a directive in my will that it shall be re-purposed after my demise as my sarcophagus.
Buy the car…and then stick around for 20+ years to fully enjoy it (because, TBH – we need periodic doses of your wisdom / grumblings here in the HD community!).
Was that the wheels falling off the car or me?
Ah Dick,
The more you write the more I see me in you (the lighter curmudgeonly one of the more recent articles- Jonathan’s influence?). I however have 15 years less tread wear on me. We have a 10 year old Subaru which we have put about 1K into repairs per year for the past three years.
In my younger years I coveted Volvos, but found that when it was time to replace my car I found that I could only afford what a Volvo cost when I bought the car I was getting rid of. They no longer appeal to me, but a Mercedes however…
As some have probably read in previous comments I went through the same mental gymnastics as you when I replaced my 17 year old stripped-down Tacoma, with a top of the line new one.
I know from your previous writings that you can well afford what you want to purchase. A couple of thoughts to relieve the guilt:
1) At 80 most likely you are not as attentive when driving as when you were younger, and with all of the safety features such as lane change, cross traffic warnings when backing up etc. you may avoid an injury to others by avoiding an accident (I have been saved several times already).
2) Maybe you could make a hefty donation up to the value of the car to your favorite charity.
3) Leave the car to one of your (grand)children.
4) Per a previous comment below you could decrease your carbon footprint by buying the model which is a plunging hybrid that has a battery which can go up to around 20 miles which could be enough range for your daily driving.
In a nutshell buy and enjoy!
I got a hole in one at a golf outing twenty years ago and won a Volvo S80 the worst car I ever had. A month after the warrantee expired the drivers seat motor went and with assorted other electrical problems it was aggravation.
perhaps there was a lot of luck in your life after all.
Cars last longer than they used to , and Mercedes has always had a long lifespan . You don’t need to replace a 9 year old car, but if you want to, go ahead !
Alan Jackson one of Country musics biggest stars has a verse from a song that I think sums it up…”You only get a minute, you better live while you are in it, cause it’s gone in a blink “
Buy it.
I second that!
Yes, go buy the Mercedes and enjoy it!
I don’t think you mentioned it but what about the environmental effect of a new car? That to me would be the reason not to buy it.
Mercedes makes better electric vehicles than Teslas
I’m thinking that the pollution controls are better on a 2024 model rather than 2014 model. Besides, auto pollution is a tiny percentage of the problem these days I’m more worried about India and China environmental wise.
I was thinking more of the environmental effect of producing a new car.
I sometimes feel similarly just before Christmas.. after several shopping trips for the kids. (Spending isn’t in my nature). What helps is a bit of time spent doing something selfless for others. One year we helped an elderly neighbor by cleaning up the exterior of her home. She was so appreciative and I don’t think I, or the kids, will ever forget the feeling of fulfillment we had that day. The gifts really did feel deserved that Christmas!
That’s the spirit
Dick for Pete’s sake your 80. You’re my favorite curmudgeon, next to myself of course. You have worked hard all your life, saved diligently and helped your kids in so many ways. Go buy it and enjoy it and be sure to drive it like it’s supposed to be driven. You and I are nearly the same age. We have the same work ethic and a good helping of what I assume is Judeo Christian guilt. It’s very hard to overcome our upbringing and lessons learned. Not to mention the little voice in our brain. Not buying it is just more money for the kids or the taxman. Just do it!
Do I have a brother I don’t know about? 😎
I know how you feel, I have the same issue with expensive bicycles. You hate yourself for taking the plunge when you are outside of the car. Then you hop in, close the door and all of a sudden those feelings of guilt melt away.
IMHO if I were you I would buy the Mercedes with all the options! In fact, I would fly over here to Germany to do the official hand-over/unboxing at the assembly plant! I can imagine you sitting in your shiny new car like a kid in a candy store dazzling over the electronic displays and features! Maybe you are no longer doing the long road trips but the short ones out to the house or down the shore will still be enjoyable. Even picking the grandkids up from Action Park (Oops, that’s long closed! Haha, read about that)!
There’s nothing quite like the quiet Autobahn at 120mph, no outside noise and listening to Jackson Browne sing ‘Looking out at the road rushing under your wheels’ at a low volume! A car built to drive 150mph with ease and finesse! 65mph on the Turnpike may not give you that same thrill but heck you could if you wanted to!
Maybe one day I’ll be at that crossroads where you are right now. Until then I’ll be saving for that ability and may it arrive soon!
Sean, if you’re not on the payroll at Mercedes, you should be! You had me with the Jackson Browne reference.
Not doing long road trips? For shame! Oh no, did you miss this article on HumbleDollar? 7,000 miles in three weeks.
I drove lots of miles daily for my job. So, partly because of that I dislike driving long distances. But mostly because drivers are inconsiderate, reckless, tailgaters, speeders and just plain rude. It’s impossible to take a relaxing and enjoyable ride almost anywhere, unless on a deserted country road.