Floyd Mayweather Jr. Defaults on Maybach Car Loan

Floyd Mayweather Jr.

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.


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