Agility Finance

[ab0700]

Hi everyone,

I'm considering swapping my 2023 EQA on Agility finance for an ex-demo EQE due to warranty issues. I know I need to talk to a dealer to explore exact options, but I'm looking for general advice from anyone who has gone through a similar process.

Has anyone here had experience with handing back a car on Agility finance and swapping it for another? Any insights would be greatly appreciated.

Thanks

 

[Monday]

It sounds as though you will be terminating an agreement somewhere midway through. i have only finished an Agility agreement towards the end so up to 6 months early on a 3 or 4 year agreement. MB Finance will give you a termination payment at anytime and this is usually the final payment + remaining monthly payments with some reduction of interest over the reduced credit period. This figure is likely to scare the life out of you. If your dealer is sympathetic to your warranty problems, you may wangle some further goodwill but I have no experience of this. I suspect such dealers are an endangered species!
There is also a provision in your agreement which is driven by the consumer credit act which provides that when you have paid off 50% of the credit, you can simply hand the car back. But I have noticed that recent agreements are structured such that you only reach that figure at the end of the agreement ie the final ‘balloon’ payment is >50% of the total credit.
Good luck!