Mercedes C63 deals on PCP?!

[irdan87]

Very informative post Gizze thanks, and it clears up all of my questions. Never knew how any of them worked out. So how would you advise to buy a W204 c63? The facelift shape by next year would be maximum five years old so maybe the prices might drop to just above 27/28, contract hire sounds better than buying outright? I've never thought about depreciation on a car worth that much of buying outright

I'm going to wait for the trade-ins come March time and hope to get one for 30k on 4 year finance with a deposit to stay in positive equity where I can potentially chop and change after 2-3 years if I wish to. Unless the new model really nose dives and orders don't come in where they run a ridiculous promotion to get them out there

 

[Deleted member 37751]

Technically in that respect to buy a C63 in that mindset you'd need just under a million in the bank!

And that's my point!

If you can, do. If you can't, lease. If someone does half their wages in on a car that they love, who's it hurting?

No-one.

 

[ash59fifty-uk]

And that's my point! If you can, do. If you can't, lease. If someone does half their wages in on a car that they love, who's it hurting? No-one.

Very good point. My credit rating is shocking though I doubt I'd be able to do anything like that for a while! It's gone up a little since May with a credit card so it's in the right direction

 

[ash59fifty-uk]

I'm going to wait for the trade-ins come March time and hope to get one for 30k on 4 year finance with a deposit to stay in positive equity where I can potentially chop and change after 2-3 years if I wish to. Unless the new model really nose dives and orders don't come in where they run a ridiculous promotion to get them out there

What colour and extras are you looking to get? White seems to be the most expensive however that's the only colour I've really glanced at, I haven't sat down and had a proper 'right it's car buying time' search yet Other colour ones seem to be cheaper when I've kept the colour open in searches

 

[Deleted member 113659]

And that's my point!

If you can, do. If you can't, lease. If someone does half their wages in on a car that they love, who's it hurting?

No-one.

I honestly have no preference. There's obviously pros and cons for both methods of buying. As you said, people do what suits them.

Ant.

 

[gIzzE]

First things first; I really don't care how people finance their cars and their life is up to them.

But this defence of finance "yah, I could pay cash because I'm really rich but I prefer to invest my money in blah blah blah instead" is just a load of crap; the people I know with real money, strong money, all buy their cars 'cash'. Seriously, I don't know any of them that lease. If you really can afford to buy something outright with ease, why on earth would you tie yourself down to a finance agreement for say two years?

If someone can manage to work out a way to get into a £60k motor for as little as possible, good luck to them, but to make out that they've got another option as to how they do it is ridiculous.

I don't buy my cars because I can't afford a new one cash.

But often the hire deals are cheaper than you can buy cash.

This was my point about people confusing contract hire with PCP.
Of course borrowing the money to buy something will cost more than using your cash*, but hiring it can be cheaper than the depreciation as there is no purchase price or sale price.


*Sometimes exceptions. £8000 finance contribution from BMW last year on a new M3, interest on the finance over the 3 year period was £5300.

 

[irdan87]

What colour and extras are you looking to get? White seems to be the most expensive however that's the only colour I've really glanced at, I haven't sat down and had a proper 'right it's car buying time' search yet Other colour ones seem to be cheaper when I've kept the colour open in searches

I'm a bit like you mate - not really got the final spec in my head I'm looking for.

I deffo want white with black alloys and I'd quite like a panoramic roof too. Quite fancy red leather interior too.

Something like this one would more than satisfy me though (local to me) although it's 4k overpriced at present -

http://used.mercedes-benz.co.uk/use...ercedes-benz-c63-amg-lincoln-for-sale-fh13soe

 

[gIzzE]

Very informative post Gizze thanks, and it clears up all of my questions. Never knew how any of them worked out. So how would you advise to buy a W204 c63? The facelift shape by next year would be maximum five years old so maybe the prices might drop to just above 27/28, contract hire sounds better than buying outright? I've never thought about depreciation on a car worth that much of buying outright

If you want the W204 then I guess you don't have choice, contract hire is only on new.
Just watch the prices though, you may find a W205 is cheaper than a 5 year old W204. Depends what happens to prices I guess.
A 4 year old 60k mile car at £30k till seems strong, I reckon that will lose £15k over the next 3 or 4 years.

Plus you have to consider warranty and the fact coming up to 9 years old things like keeping it feeling fresh with suspension etc.

I'm not saying financing is sensible, but on a few occasions I have used it to be in metal that is at the right point of the depreciation curve.
535d was a good example, 10 months old, £52,000 new, I bought used with 10k miles for £32k and drive it for 2 years and 50,000 miles and sold it for £29k, including the interest that car cost me £250 a month all in.
The 2 year old 530d old shape I was considering at the time was at the top of my cash budget, £22k, that car over 2 years and 50k miles would have lost some £10,000, far more than the 535d.


Problem with finance is there are lots of people who get into monthlies they really can't afford. My rule was never go above 5% of my take home wage, once you start doing that you're pushing it somewhat imho.

 

[ash59fifty-uk]

I'm a bit like you mate - not really got the final spec in my head I'm looking for. I deffo want white with black alloys and I'd quite like a panoramic roof too. Quite fancy red leather interior too. Something like this one would more than satisfy me though (local to me) although it's 4k overpriced at present - http://used.mercedes-benz.co.uk/used/2013/mercedes-benz/c63-amg/2013-mercedes-benz-c63-amg-lincoln-for-sale-fh13soe

Nice that, similar except I'd want a saloon. White, dark wheels, red interior would be nice but key factor would be the reverse camera. Performance package or HK audio doesn't interest me

 

[ash59fifty-uk]

If you want the W204 then I guess you don't have choice, contract hire is only on new. Just watch the prices though, you may find a W205 is cheaper than a 5 year old W204. Depends what happens to prices I guess. A 4 year old 60k mile car at £30k till seems strong, I reckon that will lose £15k over the next 3 or 4 years. Plus you have to consider warranty and the fact coming up to 9 years old things like keeping it feeling fresh with suspension etc. I'm not saying financing is sensible, but on a few occasions I have used it to be in metal that is at the right point of the depreciation curve. 535d was a good example, 10 months old, £52,000 new, I bought used with 10k miles for £32k and drive it for 2 years and 50,000 miles and sold it for £29k, including the interest that car cost me £250 a month all in. The 2 year old 530d old shape I was considering at the time was at the top of my cash budget, £22k, that car over 2 years and 50k miles would have lost some £10,000, far more than the 535d. Problem with finance is there are lots of people who get into monthlies they really can't afford. My rule was never go above 5% of my take home wage, once you start doing that you're pushing it somewhat imho.

Some wise strategies there

I love the look of the W204 facelift, the W205 to me just looks like a E-class and I don't think it sounds better than the 204, plus the engine in the 204 being what it is. Might look at the newer model deals- that convertible one looks very promising

 

[PenelopePitstop]

First things first; I really don't care how people finance their cars and their life is up to them.

But this defence of finance "yah, I could pay cash because I'm really rich but I prefer to invest my money in blah blah blah instead" is just a load of crap; the people I know with real money, strong money, all buy their cars 'cash'. Seriously, I don't know any of them that lease. If you really can afford to buy something outright with ease, why on earth would you tie yourself down to a finance agreement for say two years?

If someone can manage to work out a way to get into a £60k motor for as little as possible, good luck to them, but to make out that they've got another option as to how they do it is ridiculous.

So what about individuals who have a few cars and some of them are bought with cash and some of them are leased?

Can they afford or not? Or maybe they just know how to crunch the numbers? There are cars you buy and there are cars you lease.

 

[gIzzE]

It is simple, buy/lease/hire it which ever way is cheapest over the period you want it.

Some people will always buy as they like to mod their cars, which is fair enough too.

There is no black and white.


I am in the camp that, if I want a new car, then I can easily afford £500 a month or so, but I cant afford £40,000.
My current X3 is costing me £315 a month on a lease, my C320 Estate is costing me about £50 a month in depreciation. I'm more than happy with both those.

 

[Deleted member 37751]

Can they afford or not?

I don't really care to be quite frank and if you'd have read my other replies, you'd see just that.

If someone wants to get in a (on paper) £60k car but hasn't got that kind of cash, but then find they can do it for £500 a month for three years plus £3k down, good on 'em; costs them £21k but as long as they're happy, that's the main thing.

 

[Deleted member 37751]

It is simple, buy/lease/hire it which ever way is cheapest over the period you want it.

One thing that has dawned on me (as I was pondering this old chestnut) is that in my equations of who owns and who leases, I've worked out that it's generally employees who lease because they know their incomings and outgoing a for the next however many years whereas self-employed (business owners, property developers etc) seem to 'own' more often than not.

Or maybe that's just the people I know!

 

[gIzzE]

Hmm? Maybe.



I think it is more the ones who get cash.

All the guys I know who 'buy' their cars tend to deal with cash on a daily basis, builders, sparkies, plasterers, plumbers, smaller car dealers etc.

All the guys I know who work for companies, or run companies, and get paid monthly, whether it be the ones on £200k a year or the ones earning £40k as a teacher all seem to lease.
Life if monthly, so why wouldn't the car be?

 

[irdan87]

Sorry guys stupid question time - is the w204 facelift model 12 plate onwards?

Thanks again.

 

[paulshep69]

Sorry guys stupid question time - is the w204 facelift model 12 plate onwards? Thanks again.

Correct

 

[Deleted member 37751]

Sorry guys stupid question time - is the w204 facelift model 12 plate onwards?.

No, 2011/11 plate but most will be from 2011/61.

 

[Deleted96908]

Life if monthly, so why wouldn't the car be?

One thing that has dawned on me (as I was pondering this old chestnut) is that in my equations of who owns and who leases, I've worked out that it's generally employees who lease because they know their incomings and outgoing a for the next however many years whereas self-employed (business owners, property developers etc) seem to 'own' more often than not.

Or maybe that's just the people I know!

I think Gizze has a point about life being monthly.

But agreeing with your point also, I go to buy a car because I need or want one, not because finance might be on offer. So it's a cash thing with me and has been for almost 15 years. Which has its ups and downs. If I don't have the cash I don't buy a car and by cash, I don't mean having £50k in the bank if I want a £50k car - there'd need to be plenty in reserve too.

I'm investing in a new venture at the moment, so cash is spoken for, at least in terms of preserving the ratios mentioned above. I guess I could finance but that would remove the drive which will hopefully make the new venture work - as every entrepreneur knows, there's nothing like hard incentives to get you out of bed every day at dawn.

 

[ash59fifty-uk]

I think Gizze has a point about life being monthly. But agreeing with your point also, I go to buy a car because I need or want one, not because finance might be on offer. So it's a cash thing with me and has been for almost 15 years. Which has its ups and downs. If I don't have the cash I don't buy a car and by cash, I don't mean having £50k in the bank if I want a £50k car - there'd need to be plenty in reserve too. I'm investing in a new venture at the moment, so cash is spoken for, at least in terms of preserving the ratios mentioned above. I guess I could finance but that would remove the drive which will hopefully make the new venture work - as every entrepreneur knows, there's nothing like hard incentives to get you out of bed every day at dawn.

Excellent post

Without the drive there's no point, even if it's 'fun'

When I lost weight and picked up my old eating habits id picture in my head an old photo of me at college in the CAD suite, slumping over the chair I was huge! This greatly helps motivation

Same with work, if you picture it you'll stay on course and it's something I do. Even with something that I want to buy that'll need saving etc

Connor mcgregor says a lot about this about upcoming fights, inspiring stuff!