PCP ending - chased for answer from MB

[ghibbett]

Hi All,

My Agility Finance agreement is due to end in mid Sept, yet I've now received my 2nd letter from MB Finance literally DEMANDING to know what I plan to do at the end of term (6 months from now). The letter states that if MB do not hear from me, they shall assume I wish to purchase the vehicle and debit the balloon payment from my account.

Last month I spoke with my MB dealership to start the process of what to replace my current car with. Their response was that it was much too early to be looking yet and we should wait until May/June.

So how can I decided whether I want to hand back the car or replace it with a new MB at this stagedoh! I would love to hear from others who have been in this prediciment?

 

[SportsCoupeRich]

I'm getting these too, on the same timeline. I haven't dealt with it at all yet.

 

[def90cars]

I had the same - they debited the money one week after the end date.

No problems.

 

[portzy]

Do like I did with my '58 A Class. Tell them that you wish to hand the vehicle back then if you do decide to keep it and pay the final fee at a later time, (nearer your trade in point), they will welcome you with open arms.

Believe me, they hate having hand backs and would much rather have cash in hand than go to the trouble of collection, inspection, transport and storage etc plus they have to finally retail the car, sometimes at a closed auction, simply to get their money back sooner to ease their cash flow.

A couple of words of caution though. Make absolutely certain that the car is as mint as possible, with due consideration for Mercedes fair wear and tear policy, as both their collection agents and Mercedes themselves will be all over it with a fine tooth comb looking for the slighest problem to stitch you with financially. Take plenty of photos just before handover.

***By the way the collection agents inspection is not the binding one***

I did hand mine back in the end because the trade in value was less than the ballon payment so it did not make sense. Also, a close friend of mine is an ex MB Dealer Principal who is still highly regarded and he vouched for its condition and therefore I had no problem with the handback.

 

[ghibbett]

Thanks guys,

Have heard back from my Salesman and he confirms this is std practice. He confirms you can let MB Finance know as late as 1 month before end of contract without issue.

So I have a few more months to decide on my replacement

 

[Dieselman]

Tell them that due to their high pressure methods, you will be defecting to BMW.

 

[Rory]

My Agility Finance agreement is due to end in mid Sept, yet I've now received my 2nd letter from MB Finance literally DEMANDING to know what I plan to do at the end of term (6 months from now).

They really don't help themselves (apart from to your money) do they?

 

[ghibbett]

To be honest, I am less than impressed with MB Finance. A few months ago I called them to get an up-to-date settlement figure. They would not give me a figure over the phone, rather I had to write to them to obtain this information

Needless to say I didn't bother, yet a few days later received a letter with my settlement figure anyway

However I'll leave it down to MB as to whether I stay with the brand. Offer me the right deal on a new W205 C-class, or perhaps a current E-class, and I'll stay. Otherwise I'll be off and probably just lease something. That being said, there are some very attractive deals on BMW 335xds at the moment

 

[bas358]

I am on hp due to end sept and getting regular calls to,say need to,sit,down to let,them explain options, guess what this is with sales person! Oh and mothers are wonderful deals including up to 30% off new.

If merc carry,on this way our cars will suffer bigger depreciation than vauxhalls and fords do.

 

[Peterr_ibg]

To be honest, I am less than impressed with MB Finance. A few months ago I called them to get an up-to-date settlement figure. They would not give me a figure over the phone, rather I had to write to them to obtain this information

Needless to say I didn't bother, yet a few days later received a letter with my settlement figure anyway

However I'll leave it down to MB as to whether I stay with the brand. Offer me the right deal on a new W205 C-class, or perhaps a current E-class, and I'll stay. Otherwise I'll be off and probably just lease something. That being said, there are some very attractive deals on BMW 335xds at the moment

Strange - when i was looking for settlement figure on Agility it was an automated phone system - you call and enter your agreement number and the computer voice tells you the figure

 

[Sp!ke]

I thought the settlement figure was just the gfv of the car?

 

[Dieselman]

I thought the settlement figure was just the gfv of the car?

It is the outstanding finance and any other charges. The gvf only comes into play at the end of the term.