Ive had a slow year but November and December have been very very busy... hopefully will stay that way..
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I read this yesterday and it has been bugging me ever since. Having looked on the Merc UK website at the current new car offers, if this statement is true then why are Merc Finance still offering an ML320CDI (£43350 OTR) with a Guaranteed value of £29725 after two years?
69% of its list price and also with subsidised finance at 6.9% APR?
And Mercedes are going to be buying back loads off people for £30k at 2 years old.
Surely paying off debt is the same as saving? So reduce the mortgage.
RH
From what I've seen, there are too many first time buyers wanting 3 bed semi's! Why 1 person wants a 3 bed semi just defies logic....
So that when they start a family they dont have to move home.
But they're not because it didn't cost £45k in the first place.
If it cost them say £22k they are getting it back for under £10k.
I also have been pondering trading the ML 270 in against either a 1 year old ML or E320 cdi est - the GFV being offered seems too good to be true, allowing for the fact that you are hooked into trading for another down the line it still seems a good way to reduce your losses on depreciation - or am I being naive
My view is that some banks through ISA and SIPP are offering 6% savings rates. So if your mortgage rate is less than 6% then it is better to save than to pay off debt.
Or by people having an affinity with Tulips...................
I'm here. And what is happening to residuals shows how PCP's with a good GFV can be very beneficial. I'd rather be the customer than Mercedes on the deals that have been offered in the last twelve months. MB and BMW will lose huge amounts when many of the cars are handed back after two or three years.Where's Hawk20 when you need him
The media are always looking for an angle or a hook.
This means that they can shout "House prices to fall X%" without even referencing where that measurement starts.
During the mid-nineties recession I can distinctly remember Ceefax reporting two headlines on the same page - one saying houseprices rising and the other saying they were falling. They don't really care or cross check (the headlines referred to reports from two different banks/building societies).
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Undertakers are still doing OK!
Merry Christmas & A Happy Safe New year
Lofty
I'm here. And what is happening to residuals shows how PCP's with a good GFV can be very beneficial. I'd rather be the customer than Mercedes on the deals that have been offered in the last twelve months. MB and BMW will lose huge amounts when many of the cars are handed back after two or three years.
BTW people keep saying it costs 5p to make a car. Don't they notice that most car makers are losing money -even Toyota. Even in the good years the profit margin on most makes was tiny. If they make a few hundred pounds per car -net of all costs- they are lucky.
And dealers make very small margins too. That is why many are going out of business even before the recession. Very competitive market with high overheads and lots of discounting.
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