C63 finance question

[seesixtythree]

Hi All,

I am in the market for a C63, I have seen a 2012 edition 125 coupe in silver with 16k miles at MB dealership, the car is listed at £37,950 and I have been offered the following finance deal:

£10k deposit 36 months £537 per month with a balloon at then end of approx £13k I think in the end I pay about £44k. Does that seem excessive? Is it about right? Should I be looking for a better deal?

I have never gone down the PCP route before so naturally I am a bit apprehensive as I just don't know if this is a good deal or not especially with the C63 being released shortly.

Any advice would be much appreciated.

 

[def90cars]

Its not great.

Forget the balloon as its basically the value of the car in three years.

£10k plus 36 x £537 is £29332

A NEW AMG C63 saloon would be

£7499 plus 36 x £749 which is £34463

A C63 AMG 507 Coupe (no less) would be

£7954 plus 36 x £749 which is £34918


For £5000 I would go new.
Assuming a £10k deposit I think payments would be in the £690 area?

 

[Simon_M]

All you should be looking at is the interest rate and total cost over the term.

 

[aquanaut]

Also the new C63 at £749 is the 'basic' version...add some decent options and you will be nearer a grand.

 

[seesixtythree]

Thanks guys,

That's really interesting I have always been more concerned with monthly payments as opposed to the total cost in 3 years. Am I just looking at it wrong?

Also does that mean if I was looking at the older shape that I should be asking for a better price or is it just a case of the higher interest rate on the older car which will always mean it works out more expensive than a newer car over 3 years.

The point about speccing up a new car is valid too it may push the cost completely out of my budget.

 

[Simon_M]

Brand new news often have low APRs subsidised by Mercedes Finance, used cars do not. the GFVs drop off after 3 years so financing an older car becomes more expensive.