Thinking About Buying a MM..Need a little advice.

[aamumarauder09]

Alright guys. I'm new to the site, I'm originally from Arkansas going to school in Huntsville, AL. I have a little bit over a year left in college and I am looking to buy a 03 Mercury Marauder in Feb. for my b-day.

I've been building my credit by getting an American Express Blue Card. I'm going to pay it off in Jan., so my credit score will be boosted.

I am an employee of the United States Forest Service as a forester, and make a pretty good amount of money during the summer.

I know there is a good chance that I will need co-signer if I finance.(really didn't want that) I also really wanted to get one from a private owner but I know I still will need an auto loan.

How should I go about getting financed? I have a few inside family connections with a few dealerships. I've seen Capital One hike the interest rate up on people after they get loans. Any suggestions because I'm determined to get a Marauder.

[FormulaMarauder]

I don't know who your bank is, but get a locked term so you dont fluctuate payments. If you are going through a private seller (suggested, but not necessary) you obviously have to go through your bank/lender. Dealerships sometimes have good rates. Check cars.com for MM's all over the country, and please, read the following thread first..........
http://www.mercurymarauder.net/forums/showthread.php?t=31102&highlight=300a+300b

[03blackvegas]

I have bought my last 3 cars from E-Bay, and each case I got loan approval buy going thru the E-Bay finance center. It's usually fast and easy, my most recent car was my 03 MARAUDER, financed by HSBC. It might be a good option for you.

[Aren Jay]

Unless you have no or bad credit paying cash is always best.

If you can save up to pay for the car, do it.

If you need to borrow pay half cash and finance the rest.

or

Finanace it all, and put a seperate cash account together for paying it all off in one or two years. You might want to look at getting a high miles car, not too high, and get a cheaper car. Still a Marauder but not the $30K ones.

Coming out of college with school debt and car debt and whatever other debt is a bad way to start life. Owning your car and paying off student loan debt is better and best is being debt free and starting life financially sound.

Not everyone can do that.

Plan Plan Plan, do it now while you are young. The next 3 to 5 years will be an ideal time to buy a house. You can get one cheap and pay it off before the prices go back up. Keep this in mind.

Don't spend all your money on one thing. Keep some investment liquidity and invest wisely. Do your homework. When you are 40, you can be the happiest of people, and no you won't reget sound financial descions when you are 40.

Unhappy poor people outnumber unhappy rich people.

Now you can sleep and live in a Marauder. But a Marauder is meant to be driven and driven well, not lived in.

I guess what I'm suggesting is that you shouldn't over spend on a pristine Marauder but don't hesitate on getting one either, they are truly great cars. Just don't spend all your money on one.

Either way when your 40 you will know exactly what I'm talking about. It is just better if your happy when you remember. And if you still have your Marauder you will atleast have one thing to be happy about, but plan ahead and don't make it the only thing.

:)

And to keep you in a great Marauder have a look at this one.

I don't know the car but it seems to check out good at a great price.

http://72.32.209.243/TriCountyFord/details.asp?autonum=56

http://www.carfax.com/cfm/ccc_DisplayHistoryRpt.cfm?part ner=ATD_W&vin=2MEHM75V13X704331

[aamumarauder09]

Unless you have no or bad credit paying cash is always best.

If you can save up to pay for the car, do it.

If you need to borrow pay half cash and finance the rest.

or

Finanace it all, and put a seperate cash account together for paying it all off in one or two years. You might want to look at getting a high miles car, not too high, and get a cheaper car. Still a Marauder but not the $30K ones.

Coming out of college with school debt and car debt and whatever other debt is a bad way to start life. Owning your car and paying off student loan debt is better and best is being debt free and starting life financially sound.

Not everyone can do that.

Plan Plan Plan, do it now while you are young. The next 3 to 5 years will be an ideal time to buy a house. You can get one cheap and pay it off before the prices go back up. Keep this in mind.

Don't spend all your money on one thing. Keep some investment liquidity and invest wisely. Do your homework. When you are 40, you can be the happiest of people, and no you won't reget sound financial descions when you are 40.

Unhappy poor people outnumber unhappy rich people.

Now you can sleep and live in a Marauder. But a Marauder is meant to be driven and driven well, not lived in.

I guess what I'm suggesting is that you shouldn't over spend on a pristine Marauder but don't hesitate on getting one either, they are truly great cars. Just don't spend all your money on one.

Either way when your 40 you will know exactly what I'm talking about. It is just better if your happy when you remember. And if you still have your Marauder you will atleast have one thing to be happy about, but plan ahead and don't make it the only thing.

:)

And to keep you in a great Marauder have a look at this one.

I don't know the car but it seems to check out good at a great price.

http://72.32.209.243/TriCountyFord/details.asp?autonum=58

http://www.carfax.com/cfm/ccc_DisplayHistoryRpt.cfm?part ner=ATD_W&vin=2MEHM75V13X704331


Thanks to all who replied. I will definately check into those options. I understand where you're coming from Diabolical. Luckily I'm on a full academic scholarship and will not have any school debt. :beer:
I've seen debt destroy alot of college students lives. They borrow 40,000 dollar loans and blow them on non-sense.


I completely understand where you're coming from about buying a house, and I've even thought about buying land. The sad part about me is that I actually do not know where I will be put once I graduate from college. It's the Forest Service's prerogative on where I will live after college. (sucks don't it) Secondly, I'll probably have to end up moving like at least ten times to climb the ranks within to achieve my goal of a GS-13 District Ranger. The Forest Service story is a thread of it's own though. I may tell it sometime.

I really respect your opinion though Diabolical. I've actually made an investment in a 20 year turnaround of pine trees, being that my major is Forest Management. There's a lot of money to be made in trees.

Oh yeah, you've got some good taste. I'm actually looking for a Silver Birch Marauder. I hope it's still there in January.

Thanks though. More advice is welcomed.

[magindat]

Two things...

One, you might look into pre-approval by a financial institution you already have credit with.

Two, Marauder is a smart buy financially. They are holding their value and typically book very well. The trick (as with any loan) is to borrow less than the book value. That way the lender has equity in the collateral and has 'room' to dispose of the collateral should it come to that. All collateralized lending risk takes loan to value (LTV) into account.

The moral of the story... go to a lender and ask to borrow LESS than the car books at. Also, lenders don't go by wholesale or KBB. They go by loan value. The loan value is often inflated to account for what a DEALER would sell the car for with all the assorted profit, fees, taxes etc. It's often close to KBB retail value.

You should have no problem buying an 03 or 04 with mid life miles of 50-ish. They will book for somewhere between 18 and 20. So if you find one for mid 16's, you'll get bought.

I refinanced my 03 with 64K recently and discovered loan book was 18,700. I borrowed 13,500 against it with just a phone call.

Good luck!

[fastblackmerc]

Try an join a credit union.

[Merc-O-matic]

Alright guys. I'm new to the site, I'm originally from Arkansas going to school in Huntsville, AL. I have a little bit over a year left in college and I am looking to buy a 03 Mercury Marauder in Feb. for my b-day.

I've been building my credit by getting an American Express Blue Card. I'm going to pay it off in Jan., so my credit score will be boosted.

I am an employee of the United States Forest Service as a forester, and make a pretty good amount of money during the summer.

I know there is a good chance that I will need co-signer if I finance.(really didn't want that) I also really wanted to get one from a private owner but I know I still will need an auto loan.

How should I go about getting financed? I have a few inside family connections with a few dealerships. I've seen Capital One hike the interest rate up on people after they get loans. Any suggestions because I'm determined to get a Marauder.


Remember Premium Gas at $3.25 a gallon and you get an average
of 16-20 MPG driving around with a little bit of the "heavy foot".
IMHO it takes "deep pockets" to maintain a Marauder! Good Luck.

P.S. Don't forget about auto insurance for the "bad boy".


Gotta Love It!

[texascorvette]

Do you have a Credit Union available to you? They usually have competitive interest rates, and--in this area anyway--they are pretty easy to get along with.

[jdando]

IMHO it takes "deep pockets" to maintain a Marauder! ...P.S. Don't forget about auto insurance for the "bad boy"...

I agree with Merc-O-Matic. This is not a particularly cheap car to maintain. Rear tires $121-149 when you can find them, premium gas. If you start modding then things get really exciting! Tranny flush every 12,000-15,000 miles, brake pads and rotors, synthetic oil, wax, foam guns, sheepskin wash mitts. :help: where does it end?

Look at the big picture, not just the initial purchase price. You will what to keep the car in good operating condition and looking good.

Good luck with your search for the right car! Do not be afraid to travel, I got mine from a guy in Boston.

jeremy

[Vortech347]

Make sure you look over the body and paint VERY close. Especially if its a black one.

[Bobmiddle]

I am another one for the credit union. When I bought my MM it was the first car I really had to buy/finance( my parents own a body shop in Ca and I always got rebuilt totals or leined cars for very very cheap) my credit was just ok 625 or so. I only had to finance 9k went to the credit union had to pay $10 to join and the financed me @ 3.9% with no co-signer. Best of luck and take some of the above advice for the future.:D

[aamumarauder09]

Oh I will. I drive a Cadillac STS right now with a premium gas drinking Northstar. Insurance will be an issue, but I've managed to keep my premiums down by having a spotless record and being low risk.(knocks on wood) I usually just drive home and to Atlanta to see the old lady.

While in Huntsville, I foot it unless there's something going on, or an errand to be ran.

I'll go to Redstone Federal Credit Union in Huntsville next year. Even my own bank told me that they will give me a better rate. We will see. Thanks for the advice guys.

[MarauderKnights]

Your Credit Union will take care of you!

[aamumarauder09]

Good News my credit score is 718. At least now I know I can get a get a decent APR.

[texascorvette]

Best of luck to you. It shouldn't be too difficult for you to find a nice Marauder. Most of the people who own a MM love their car and take meticulous care of it. Just as in buying any used car, proper business sense dictates that you pay for running a CarFax report and have it inspected by a good mechanic before you buy one--especially if it has had any modifications.

[Mike Poore]

Also, all things being equal, you might want to consider which Marauder to get. Paint and color are personal preferences, but there are actually three MM's to consider. (with sub-categories) There's the '03A, the '03B, and the '04. The sub-categories mostly fall between the '03A & '03B with various stages of decontenting. (adding and/or subtracting options and features) Also, it's my impression that the bad paint was limited to black '03A's within a certain time frame.

Although there has been no explanation within my earshot, Steve Babcock remarked that there was a "sweet spot" in MM production to include '03B's and '04's; I think, mostly involving cylinder heads, and transmissions. The so called sweet spot he mentions is Dec. '03, but I'm not sure how much room on either side is considered. When he asked me which MM I had, I told him it was an '04, built in Dec. '03. "Ah, he said, "You have one of the good ones". If I were to guess, it would seem likely that the window would include Fall production, 2003, until....

FWIW :dunno:

[mcb26]

Hi there, I'm in Huntspatch or just south of it. Join Redstone Fed Credit union. They usually have the best rates available. Welcome to the site.

[Bradley G]

I had not heard of the "sweet spot" in production as you describe Mike.
The Marauder I drive was built in 10/2003. I had a head ticking for a short while when I first got here.That just went away on its own after several weeks.
I have not had any of the serious problematic issues Marauders are known for.ie:axles/heads/wire harness etc.
Although my paint job, is nothing to write home about.


Also, all things being equal, you might want to consider which Marauder to get. Paint and color are personal preferences, but there are actually three MM's to consider. (with sub-categories) There's the '03A, the '03B, and the '04. The sub-categories mostly fall between the '03A & '03B with various stages of decontenting. (adding and/or subtracting options and features) Also, it's my impression that the bad paint was limited to black '03A's within a certain time frame.

Although there has been no explanation within my earshot, Steve Babcock remarked that there was a "sweet spot" in MM production to include '03B's and '04's; I think, mostly involving cylinder heads, and transmissions. The so called sweet spot he mentions is Dec. '03, but I'm not sure how much room on either side is considered. When he asked me which MM I had, I told him it was an '04, built in Dec. '03. "Ah, he said, "You have one of the good ones". If I were to guess, it would seem likely that the window would include Fall production, 2003, until....

FWIW :dunno:

[texascorvette]

If I remember correctly, my '04 DTR was built in April '04. Other than the terrible BFGoodrich OEM rear tires that they put on the car, I have had zero problems--well, other than the squeaks and rattles, and that's why God created loud sound systems!

[RoNiN77]

I would suggest that you try to find one from a dealership that still has a warranty option. I got my 03b in 05 from a dealership. It had 20k on the clock and they wanted $22k. I went through my credit union and got a 5.9% interest rate. If I had noticed that the oil guage didn't work I would have had them replace it under warranty (haha). Anyway, you should be able to find a nice one for just under $20k. Payments should be just under $400/mo if you have good financing. It's been said already, but don't be afraid to travel. Good luck...and put at least 15% into your TSP!!!!

[Aren Jay]

Fixed my link.

[Bluerauder]

When he asked me which MM I had, I told him it was an '04, built in Dec. '03. "Ah, he said, "You have one of the good ones".

But that didn't help you out in our "head-to-head" race at all. ;)