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Am I Mad to pay the £20k final payment ?

Discussion in 'General Mercedes-Benz Related Discussion' started by ioweddie, Jun 13, 2018.

  1. ioweddie

    ioweddie Senior Member

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    Your Mercedes:
    W205 AMG Sport Line Premier Plus Estate C220d
    My 2015 c220d premier plus estate with privacy glass, air-matic suspension, in brilliant blue, totally unmarked with 12300 miles on the clock. I have a real dilemma as its going to cost me £20k to keep it, plus £430 for A4 Service and mot, plus tyres in the near future.

    I scared that its value will plummet with the diesel stigma, plus the scandal of Mercedes emissions now coming to light. I love the car but is it really worth paying £20k for it.

    Please give some sensible suggestions as I'm starting to worry about it.
     
  2. umblecumbuz

    umblecumbuz Senior Member

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    Your Mercedes:
    S204 and CLC 204 cdi, other non-Merc machines
    Not an easy decision.
    If you have £20k available, you could hand your car back and buy another for cash and pocket a few bob. There are similar models around now for less than 20k.

    More definitive advice requires detailed knowledge not just of your circumstances but also of your inclinations and preferences, which forum posters of course do not have.
     
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  3. Binnedit

    Binnedit Senior Member

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    Your Mercedes:
    Current: W209 CLK320 Avantgarde 2003, Past: W208 CLK 320, Yr 2000
    For me, it would come down to the current residual value.

    I.e. if the current value of the vehicle exceeds £20, then worth it, if not, then no.

    Wouldn't worry too much about the diesel aspect. They way the market is going, there will be less second hand diesels on the market in 2 or 3 years time, as current new buyers are preferring petrol. There will always be a market for diesel cars for towing duties etc, and therefore residuals in the second hand market are (already) quite stable.

    Also, you know the history of the your car. Always a bonus.
     
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  4. John Laidlaw

    John Laidlaw Senior Member

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    Your Mercedes:
    W212 E63 ///AMG V8 Biturbo Volvo XC90 2018
    As Unclecumbuz there are some variables we don’t know so hard to give definitive advice.
    For example if your mileage is low (with 12,300 miles over nearly 3 years on the face of it, it is...)it could well be worth using any residual you have left as a down against the equivalent petrol model and going for another 3 years....
    Presuming this is on a PCP or similar of course....
     
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  5. OP
    ioweddie

    ioweddie Senior Member

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    Your Mercedes:
    W205 AMG Sport Line Premier Plus Estate C220d
    The current value is no lower than £19500 up to £23k ish but how many private buyers have that kind of money.
    The car is lovely and would probably go on a forcourt for £23k plus as they can offer finance and warranty, but once I've actually bought it the p/x is going to be somewhere around £18-£19k
    its a tough decision,
    Keep the ideas coming please
     
  6. d215yq

    d215yq Senior Member

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    Your Mercedes:
    1987 W124 300D 250k
    It doesn't matter what the PX value is as (I assume) you aren't going to buy it off them and then immediately PX it. It matters what the opportunity cost is. I.e. if you didn't buy it what would you do? Would you buy a 2nd hand one that suits you better and/or is cheaper. If that's not possible you might as well keep it and save hassle.

    Unless you're going for a new one then that'll be more but maybe you want a new car? TBH at 4k miles a year it seems almost pointless getting something new and you might as well just keep it. But I'm not a "new car" man in any situation!
     
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  7. Wighty

    Wighty Senior Member

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    Your Mercedes:
    W211/E320cdi/2009 and CLK200k 2009
    Wouldnt you (i mean me :D) be better off buying another diesel Merc estate for £10-12 that is another 3 years older ? After all you do sod all mileage so the engine doesnt matter efficiency wise .
     
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  8. Capra

    Capra Senior Member

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    Your Mercedes:
    W204 2013 C350 CDI Pan roof
    Did you use PCP, if so aren't they setup so that at the end you either give back or upgrade and start again? Especially with the low mileage?
     
  9. OP
    ioweddie

    ioweddie Senior Member

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    Your Mercedes:
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    Yes PCP but I do not want any more monthly payments as now retired, was paying £311 p/m after p/xing my previous amg sport the equity was enough for the deposit then. so contracted to pay the £20k or walk. I looked at other makes and nothing compares other than BMW but that means more PCP. I can afford the £20k as cashed in the useless premium bonds, but just don't want to suffer massive 3rd year diesel depreciation.
     
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  10. Capra

    Capra Senior Member

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    Your Mercedes:
    W204 2013 C350 CDI Pan roof
    Ok fair enough, I don't blame you.
     
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  11. d215yq

    d215yq Senior Member

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    I'd put money on the 3rd year diesel depreciation being less than the PCP. Anyway, if you decide to keep it a long time and it's the one you want the depreciation will be irrelevant.
     
  12. mancman

    mancman Senior Member

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    C-class 250 coupe pan roof
    My thoughts are, money is not everything, obviously you love your motor, you could get something cheaper but you could also buy another car with problems, stick with what you have as long as you can afford it and with that mileage the car has hardly been used.
     
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  13. Wighty

    Wighty Senior Member

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    Your Mercedes:
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    Damnit , thats what i should have said !
     
  14. malcolm210

    malcolm210 Senior Member

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    Stick with it, you’ve already bought into the car for the deposit (your trade in) plus the £12k in PCP payments over the 3 years and for the £20k final payment you will purchase a known car that you like that is immaculate with ultra low mileage. I wouldn’t worry too much about dieselgate as your car is EU6, it might be worth looking into extending the warranty but with that engine I wouldn’t bother
     
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  15. John Laidlaw

    John Laidlaw Senior Member

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    Now we’ve eased the circumstances out it seems a no brainer-
    You love the car it’s well equipped
    It’s a known quantity
    You can buy it with the 20k remaining
    No desire to pay any more monthlies
    Diesel isn’t a sudden doom
    So.... keep it and keep enjoying !
     
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  16. OP
    ioweddie

    ioweddie Senior Member

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    Your Mercedes:
    W205 AMG Sport Line Premier Plus Estate C220d
    Cheers Guys, lots of common sense replies, all giving me a bit of feel good to keep it, my neighbour said if you saw that car on a forecourt for £20k you would buy it, lets face it a ****** focus is over £20k new
     
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  17. GlosRichCLK

    GlosRichCLK Senior Member

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    You know the car and it's condition, so if you like it and can afford it, buy it.
    However if you downgrade a bit in spec, or even a saloon or even an A class, £25k would get you a new petrol with the usual 15% discount.
     
  18. davemercedes

    davemercedes Senior Member

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    At retirement, we all want health (cheers to you - here's hoping!) wealth (well, comfortable enough to feel okay) and happiness!
    - If your car helps to provide that element, then enjoy every minute of it!
     
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  19. Gkinghorn

    Gkinghorn Senior Member

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    FWIW I retired at the end of 2017 - the pay off was enough to take me through to my pension kicking in.

    I had a car on PCP with debt of about £17k on it . I did about 5k miles a year... I guessed it was worth about the same on the resale market.

    I decided to pay it off and keep it ..

    Rationale .

    1. I knew the car (and it’s issues )
    2. At 30k miles it was well below average annual mileage
    3. The service plan was good for another 2 services
    4. I would have replaced with another car ..probably newer but likely similar mileage
    5. I’d probably spend more on a newer one which really wouldn’t have been sensible.

    1 and 2 were the key drivers though..


    Sent from my iPad using Tapatalk
     
  20. OP
    ioweddie

    ioweddie Senior Member

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    W205 AMG Sport Line Premier Plus Estate C220d
     

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