Agility finance

Rory

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Your Mercedes
2005 C270CDi Avantgarde Estate. Bought 2005, sold 2022.
In a double dip recession, how else can they "sell" cars here other than knocking them out on cheepo contract rental deals?

They were way cheaper than other models though. Perhaps used SLKs sell very well so the residual's are high. I notice there's still plenty of offers on the internet for 250Cdi models in the £200-£250 range on 6+23 10K mile deals.
 

MBDevotee

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Dreaming of a CL55k - one day maybe....
The post above is interesting and I'm pretty shocked at the figures - 12000 deposit up in smoke :shock:

I look at the overall cost of running the vehicle.
My SLK cost me just over 1200 deposit and is 400/month for 2 years at 15K miles/pa.
(3+23).

400 a month is less than I had been lashing out for parts for my SL500 (by some margin) - and for that I have peace of mind - and I'm saving a considerable amount in fuel (half the cost).

At the end of the 2 years I can give the car back. Whether or not I have enough over the GFV to put toward the deposit on another car is not really a big issue - 1200 is hardly 12000, is it?

I honestly cannot see the disadvantage in the finance I've got. I've got a spiffy shiny new car, it has a warranty (no more SL500 sleepless nights! - I cannot tell you how much having that warranty means to me), my money is in the bank and here's the big one: I don't have to worry about selling it! I never ever get anything close to the book value of cars or bikes when I sell them - and they are always immaculate, FSH etc. So there is another few thousand pounds to put into the equation.

You've hit the nail on the head though.

You've put down a low deposit and you're paying sufficient to cover the depreciation - this is what a PCP was designed for.


Keep the deposit minimal, save for the next deposit and a pcp can be excellent
 

sw20gts

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NISSAN GTR
The more I read the comments here the more I felt relieved for not falling into the trap. What I've got quoted was with high APR (+13%) and monthly payments, high deposit (£6k after settling finance) and possible a high balloon too.
 

Vamps

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Durham
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Jeep Grand Cherokee
Well I have read some of these posts and got some good tips, mainly I have worked out I need a forensic accountant and a seer to buy a new car on finance.

Same here, I like life simple, save up and pay cash, but dont buy new......:):)
 

gizze

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5 Series Touring + 911 Carrera 4
In a double dip recession, how else can they "sell" cars here other than knocking them out on cheepo contract rental deals?

Maybe Contract Hire deals show what the buying public really think a car is worth??

With the deals out there at the moment on contract hire the cash buyer is the new fool imho.

Anyone who buys a new car with cash these days just comes across as more than a bit naive.
 

Alex M Grieve

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Broom, Warwickshire
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B Class d200 Sport Premium Plus (66)
Maybe Contract Hire deals show what the buying public really think a car is worth??

With the deals out there at the moment on contract hire the cash buyer is the new fool imho.

Anyone who buys a new car with cash these days just comes across as more than a bit naive.

I am sure that is true. I fear that anyone buying a new car at all may not have done a very good analysis of costs and benefit.

A 2 year old car with <20,000 miles will look and drive like a new car, will be bought from a dealer at a big discount to the new price, will still have a year's MB Warranty (and almost certainly a FMBSH) and will suffer much less depreciation from then on.

Unless a new car is heavily discounted, and by that I mean by around 25% off list, I would not buy new. Such deals are available from time to time, (run out models, pre-registered cars, VAT free offers), but otherwise I just keep an eye on the market and stalk the good deals.

Works for me.
 
C

creepy coupe

Guest
capture2rl.jpg

No mention of GFV's?
 

hawk20

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Your Mercedes
ML250 BlueTEC Sport
No mention of GFV's?

There is actually. It is shown below the table as the Optional Purchase payment - about £32,700.

In that deal, you are paying about £17,500 for depreciation over 2 years -horrendous IMO- and 11.5% APR interest on the loan. All for only 5k miles per year. But if it's what you want and you can't get it any other way (Lombard, bank loans etc,) it's your choice of course. A brand new SLK would cost far less.

In fact, (have a look on the MB website), even a brand new S class 350cdi would only need 10k deposit and £500 per month. Great deal for those who happen to want an S class (at under 4% APR!) rather than the SLK AMG.
 
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hawk20

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Your Mercedes
ML250 BlueTEC Sport
Yep I can see it know thanks.

Mine works out at £13250 over two years for an SLK200 AMG

Worth remembering the £31k I've not paid out for the car is earning £55 per month £1320 in interest over the term.

Just try and find the best deal you could get on anew one. You are paying £50k plus aren't you for a year old one when a new one is £54,950. You are paying 11.5 % interst. On a new one it would be much less. I'd phone 2 dealers and ask for their best deal on new.
 

hawk20

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Your Mercedes
ML250 BlueTEC Sport
Mine is a 200 SLK with a list price of £35k and an intereet rate of 5.9%

OK. I was commenting on the MB finance example you posted with a price around the £50k mark for a second hand SLKAMG.

New they are around £54,950 before you haggle a discount (or add extras) and the finance over 3 years is being offered at 4.9% according to a local MB dealer. Not much discount being given though.
 

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