Good discounts currently on new mercedes

[Funkyboy]

Just a heads up if anyone is looking for a new Mercedes. Drive the deal has some big discounts (12k of new GLC) must be ordered by end of month.
Check out their special offers page they are all listed there.

 

[Delayed Steve]

There's a lot of deals about for the GLC at the moment, a dealer around here has a few in stock, premium pack big wheels choice of colours and big discount..
Perhaps the clunking transmission fault has come home to roost.. Or is it due a face-lift like the C Class?

 

[Funkyboy]

There's a lot of deals about for the GLC at the moment, a dealer around here has a few in stock, premium pack big wheels choice of colours and big discount..
Perhaps the clunking transmission fault has come home to roost.. Or is it due a face-lift like the C Class?

There was big discounts on most of the range. It was the GLC I was interested in. Wasn't aware of clunking transmission was aware of the crabbing wheels though?

 

[Delayed Steve]

That's what I meant, a lot on here where saying that the transmission was winding up and causing it to clunk/crab. Replacing the tyres with all season tyres was just masking the problem.
There's a lot of videos on YouTube showing the clunking noise, just search for clunking or crabbing glc.
There are plenty on here with a engineering background that will explain it better than me.

 

[Thrash]

Yes, big discounts across the entire range at the minute. I was looking at a C220d AMG Line saloon and they're offering £11k off the list. I know the facelift is due soon but that wouldn't put me off.
I imagine the GLC will be due a facelift fairly soon, the deals will probably only get better as it gets closer. Just a shame the finance is at 5%, BMW are offering just as big discounts on the 3 Series but with 1.9%

 

[st13phil]

Just a shame the finance is at 5%, BMW are offering just as big discounts on the 3 Series but with 1.9%

Sounds like both MB and BMW are having trouble shifting new metal. Are the discounts bigger on the diesels, or are they comparable across the engine range?

 

[Deleted member 6183]

I was in a dealer this morning and spotted £16k off something in the showroom, a CLS I believe.

 

[Thrash]

Sounds like both MB and BMW are having trouble shifting new metal. Are the discounts bigger on the diesels, or are they comparable across the engine range?

Slightly lower discounts on petrol models but due to the lower list price they work out pretty comparable - in terms of monthly payments it worked out a few £ a month, that was with BMW anyway so I imagine the same with MB.
I was looking at an A4 and the GFV on the S-Line S-Tronic on a 1.4 TFSI was much higher than any C Class or 3 Series along with a big discount and 3.2% APR. Just a shame it looks so boring.

 

[Funkyboy]

It's really interesting the reasons why car sales are dropping. It's being billed as the backlash against diesels but that's not the case. The real reason is that the FCA has got involved with the PCP boom. Car dealers didn't have to prove that the customer could afford the payments by doing due dillegence on the customers incoming and out going expenditures. Since the FCA got involved they now do. This has resulted in less people being able to demonstrate they can afford the payments thus resulting in a drop in sales. In fact if it's proved that a finance company gave someone a PCP deal when could they could not afford it the customer would be entitled to a refund of payments and the contract canceled.

 

[Delayed Steve]

With discounts like this imagine what it's going to do to residuals?

 

[Deleted member 6183]

It's really interesting the reasons why car sales are dropping. It's being billed as the backlash against diesels but that's not the case. The real reason is that the FCA has got involved with the PCP boom. Car dealers didn't have to prove that the customer could afford the payments by doing due dillegence on the customers incoming and out going expenditures. Since the FCA got involved they now do. This has resulted in less people being able to demonstrate they can afford the payments thus resulting in a drop in sales. In fact if it's proved that a finance company gave someone a PCP deal when could they could not afford it the customer would be entitled to a refund of payments and the contract canceled.

This was three years ago, do you have any facts to back up your argument?

 

[Delayed Steve]

Could it just be supply and demand ? Too many cars and not enough customers !
The PCP bubble has got to burst someday, I know everyone who has a PCP says its just costing them pocket change but the reality is a lot of people are living in a dream world .

 

[gr1nch]

Possibly it's more people coming to their senses? Maybe purchase behaviour is converging to a sustainable steady state. We in the UK buy too many cars, too often. The roads (and our drives!) have been increasingly clogged up with cars both moving and parking. Arguably cars are more reliable than in the past and can last longer, yet people buy new ones not to replace a faulty or unsafe car, but because they just fancy it and it's seemingly cheap to do so.

By comparison, I've bought one new car in the past 30 years, plenty of used ones though and when flat screen TVs came out I bought a 46" ten years ago and haven't had the need to change it yet.

Also in the UK it is so much easier to buy a new car than in other European countries, the prolific choice of cars, the variety of purchase options, the ease of PCPs, the cheapness of insurance. I looked into buying a car in Belgium and France whenever there and it was less simpler to do, if there was finance involved and more expensive than the UK.

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[JBD]

This was three years ago, do you have any facts to back up your argument?

This is certainly not the reason for the current market slump. We see no more declined proposals than 3 years ago. MBFS has always been very fussy


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[JBD]

Could it just be supply and demand ? Too many cars and not enough customers !
The PCP bubble has got to burst someday, I know everyone who has a PCP says its just costing them pocket change but the reality is a lot of people are living in a dream world .

I’ll give my take on the situation, being an MB salesman

The PCP bubble certainly hasn’t popped, it’s the an effective and affordable way of purchasing a car. The issue is that used car residuals have dropped and the market is in a period of stabilisation. We’re seeing a lot of people having to hand back because their balloon payments are very high. Obviously they’ve benefited from that, with lower payments and the guaranteed residual at the end.

It does mean that customers looking to go for a similar car again are having to put in more money to achieve the same monthly costs now though, as the balloon payments are much lower.

The big issue for us is that it’s meant that we’re having to heavily discount to try and bridge some of the gap. It’s definitely not something that can be maintained, but I do think we’re just paying for the cheap deals that were offered 3 years ago. I’m sure things will continue to stabilise as time goes on, but it’s pretty clear that residual values were way too high 3-5 years ago. We noticed MBFS dropping balloon payments over 2 years ago, so it’s definitely something that they’ve planned ahead with


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[leef44]

I’ll give my take on the situation, being an MB salesman

The PCP bubble certainly hasn’t popped, it’s the an effective and affordable way of purchasing a car. The issue is that used car residuals have dropped and the market is in a period of stabilisation. We’re seeing a lot of people having to hand back because their balloon payments are very high. Obviously they’ve benefited from that, with lower payments and the guaranteed residual at the end.

It does mean that customers looking to go for a similar car again are having to put in more money to achieve the same monthly costs now though, as the balloon payments are much lower.

The big issue for us is that it’s meant that we’re having to heavily discount to try and bridge some of the gap. It’s definitely not something that can be maintained, but I do think we’re just paying for the cheap deals that were offered 3 years ago. I’m sure things will continue to stabilise as time goes on, but it’s pretty clear that residual values were way too high 3-5 years ago. We noticed MBFS dropping balloon payments over 2 years ago, so it’s definitely something that they’ve planned ahead with


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Exactly this ^^^

The saturation of the market with end of lease PCP cars is pushing up the supply of good value 2nd hand buys, lowering the cost and thus increasing the gap for final balloon payments. So demand on new cars goes down.

 

[JBD]

Exactly this ^^^

The saturation of the market with end of lease PCP cars is pushing up the supply of good value 2nd hand buys, lowering the cost and thus increasing the gap for final balloon payments. So demand on new cars goes down.

It’s pretty simple if you think about it. I do think it’s a good thing though, as we will gradually get to a point where things level out

I think less premium brands may go pop before that happens though. MB have their current growth to prop them up as this happens


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[st13phil]

The big issue for us is that it’s meant that we’re having to heavily discount to try and bridge some of the gap. It’s definitely not something that can be maintained, but I do think we’re just paying for the cheap deals that were offered 3 years ago. I’m sure things will continue to stabilise as time goes on, but it’s pretty clear that residual values were way too high 3-5 years ago.

The root of the problem, imo, is that cars are overpriced at list to start with, and have been for many years in the UK. The market is heavily distorted by fleet discounts which means that residuals are pathetically poor vs. original list price. The heavy depreciation in the first 2-3 years gives a strong indication as to what the market really believes the product is worth. Artificially high PCP balloon payments were always going to end up with the result we have today.

 

[wivenhoe]

Apologies for the long post - I think that premium car manufacturers have got themselves into a potential tight spot which will be difficult to come out of in the short term.

List prices are consistently artificially high which now means that you could be paying higher personal / road tax on a car which costs far less - but nobody wants to be the first to significantly reduce list prices. When residuals are compared against list prices, to the normal punter this makes the cars look far more expensive than they are (even allowing for options). Drive the deal has loads of German Premium cars with discounts over 20% Special Offers

The new emissions code (WLTP) will undoubtably effect tax & buyer concern. NOx could be the next problem. BMW have announced they are ceasing production of some plug-in’s and Mercedes have declined to answer if they will be - rumoured that the only plug-in to be manufactured after Sept will be the E350e. (Although this could be confusion over the new diesel plug-in announced).
BMW cuts model range as new WLTP test looms

Dieselgate is reducing the residuals and with the new emissions this could unduly effect the premium petrols as well.

The currency rate has gone against prices in the U.K.

Previously the cost of PCP’s were kept low by very low interest rates and these appear to be moving upwards.

All of this applies to all the premium manufacturers and let’s hope that Mercedes fair better in the new emissions than their competitors so residuals hold up !

 

[wongl]

Capped pay rises by the government over the last few years is beginning to bite. The uncertainty of BREXIT along with the devaluation of the Pound is also causing some of my friends and family to wait and see.

Good to see that there is a new pay deal for NHS staff with the starting salary of a nurse approaching/exceeding the starting salary of new doctors from 3 years ago. This will surely inject and boost our declining economy.