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Miley Cyrus has a need for speed!

See Miley's new car here

The 19-year-old singer purchased a new white 2012 SL550 convertible Mercedes Benz in Encino, Calif., last week, TMZ reports. Sources tell the site the teenage star, who has an estimated net worth of $120 million, paid in full at the dealership. Price tag: a whopping $127,000!

PHOTOS: Can Miley Cyrus be tamed?

Cyrus' new ride can go from 0 to 60 mph in 5.3 seconds.

PHOTOS: Miley Cyrus' raciest outfits

Cyrus, who's still going strong with boyfriend Liam Hemsworth, didn't give up her old car: A bodyguard was seen driving it back to Cyrus' house as she took her new wheels out for a spin.


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