MB finance

[silentdriver]

Hiya, I have recently taken out a personal contract via MB direct.due to a change of circumstances, I now want to reduce my agreed milage thus reducing my repayments a little.Has any one here have experience and were able to change or modify thier contract.Ive written to them and the reply was reading between the lines "you,re stuffed mate".....
I dont want to terminate it has i love the car.thnx

 

[jberks]

I suspect that even if you could get them to play ball, the admin, early repayment and other costs would swallow up the majority of the saving. Whilst it may be technically possible, I've never heard of anyone changing the terms mid deal so I suspect they don't have a mechanism for it.

If you really want to do this, I'd recommend popping into the dealer where you bought the car and having a chat with their business manager. If there is a way he'll be best placed to put it together. I suspect the only option will be to take out a new agreement using the new funds to pay off the old one but then again it does depend on what the car's value is now as you may not be able to borrow enough against it.

With most low deposit new car lease schemes, if you do the maths, calculating depreciation, dealer profit, vat and fees, you're in negative equity for the majority of the loan period and only come out the other side in the last 6 months, so chances are you're stuck with it or would have to hand it back.