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Floyd Mayweather Jr. Defaults on Maybach Car Loan

By Liz Opsitnik
Tuesday, Sep 15 2009 12:49

Boxer Floyd Mayweather Jr. is being sued by JP Morgan Chase Bank for an auto loan he owes more than $150,000 on.

The boxer, who fights in Las Vegas, purchased a Mercedes Maybach 57S in April 2007 for $512,184 from Fletcher Jones Imports in Las Vegas. Mayweather borrowed $415,695 for the car, the Las Vegas Sun reports. His car loan had an interest rate of 16% over 72 months, making his monthly payments $9,077.

The lawsuit says Mayweather stopped making his auto loan payments in February 2008. Mayweather’s past-due balance was $36,309 with a balance due of $363,000. Chase repossessed the car in January 2009 and sold it for $196,000. As of March, Mayweather still owed $167,192 on the defaulted auto loan, plus legal expenses.

Just because someone is a professional athlete or celebrity doesn’t mean they can make their outrageous car loan payments every month. Floyd Mayweather Jr. should have purchased a more affordable vehicle, not a half million-dollar car.

Floyd Mayweather Jr. vs. Ricky Hatton

Watching Chase repossess his Mercedes Maybach must have been a punch in the face for Floyd Mayweather Jr.

 

Top image via contactmusic.com. Bottom image via blog.islandcasino.com.

 


Confused or unsure about some of the car loan terms used in the article? Click here for our Auto Loan Glossary.



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7 comments on this story so far.

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Comment By: Rick Smith on Tue, Sep 15 2009 at 5:15 PM
A new level of douce-baggery from professional athletes. Sure just flash all that cash without any thought as to how much juice your going to pay on the loan until your local repo-man blind sides you and drives off with your car.
Comment By: brad on Tue, Sep 15 2009 at 5:22 PM
what a douche...pay your bills you deadbeat!
Comment By: Ciogga on Thu, Feb 4 2010 at 5:22 PM
So why choose a photo of Hatton Vs Collazo? Both of whom Mayweather whupped!
Comment By: ciogga on Thu, Feb 4 2010 at 5:27 PM
Hang on a minute, it was Mosley who whupped Collazo. Mayweather gave Castillo, Coralles and Corley a tonking. So many Cs in and around welterweight!
Comment By: Anthony on Tue, Mar 9 2010 at 10:04 AM
i think mayweather is the best cause he has never been beaten ever by nobody and he will always be undefeated
Comment By: kenn on Wed, Mar 31 2010 at 9:01 AM

because he cherry picks his opponents he fights lightweights while his a welterweight... and yet he cheated on that lightweight (marquez) by not making 144lbs instead coming in at 146lbs... thats why he stays undefeated...

Comment By: Aaron on Mon, Apr 26 2010 at 8:10 PM

Gay. I like all the douche-bag comments. Add d****. "I've got close friends cause I bi dem stuff. I'm da man! Want to go count my cash with me?" Awesome boxer....yes. S***** person that does nothing for his country or community...yes. It's all yours....we're just living here for you.


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