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Agility finance

Discussion in 'General Mercedes-Benz Related Discussion' started by skyeceltic, Jan 23, 2011.

  1. Rory

    Rory Senior Member

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    Your Mercedes:
    2005 C270CDi Avantgarde Estate
    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.
     
  2. MBDevotee

    MBDevotee Active Senior Members

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    Your Mercedes:
    53 270CDI CLK Avantguard + ML500 with LPG
    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
     
  3. sw20gts

    sw20gts Member

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    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.
     
  4. Vamps

    Vamps Active Member

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    Jeep Grand Cherokee
    Same here, I like life simple, save up and pay cash, but dont buy new......:):)
     
  5. gizze

    gizze Senior Member

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    Your Mercedes:
    E350 cgi Estate & Range Rover TDV8
    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.
     
  6. Alex M Grieve

    Alex M Grieve Senior Member

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    B Class d200 Sport Premium Plus (66)
    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.
     
  7. creepy coupe

    creepy coupe Guest

    No mention of GFV's?
     
  8. hawk20

    hawk20 Senior Member

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    Your Mercedes:
    ML250 BlueTEC Sport
    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.
     
    Last edited: Sep 11, 2012
  9. hawk20

    hawk20 Senior Member

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    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.
     
  10. hawk20

    hawk20 Senior Member

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    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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