Please help my mate not pay too much for his new Merc

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garystu1965

Active Member
Joined
Dec 8, 2004
Messages
670
Location
Lytham St Annes
Car
Mercedes E350 CDI Coupe
Hi folks, I would really appreciate some quick replies and thoughts on the below as my mate is getting back to Mercedes within the hour....ta everyone...

He has seen a black 2009 E200K Elegance Auto for £23,500 on Merc Direct.

It's got COMAND, Parktronic, Black leather, Phone prep etc and he's smitten.

Merc have come up with a deal where they will "give him" £9900 for his old C-Class (he's owned it one year and only paid £10k for it).

They have done a deal for £312 over 48 months and guaranteed residual of £8475. He only does about 7,000 miles a year and the deal is for 10K miles a year.

He has asked them to give him an hour to decide on the deal and tried to get them down to £299 but they said no.

I still think he can get this deal down to £299 a month - surely they are desperate to sell cars and £13 a month less is not a deal breaker for Mercedes.

Please could you tell me if he is paying too much for this car (it works out at £14976 over 48 months).
 
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Is this a PCP? Will he own the car after 48 months or will he have to pay the £8,475 in order to keep it? Where's the £9,900 gone?
 
Hi folks, I would really appreciate some quick replies and thoughts on the below as my mate is getting back to Mercedes within the hour....ta everyone...

He has seen a black 2009 E200K Elegance Auto for £23,500 on Merc Direct.

It's got COMAND, Parktronic, Black leather, Phone prep etc and he's smitten.

Merc have come up with a deal where they will "give him" £9900 for his old C-Class (he's owned it one year and only paid £10k for it).

They have done a deal for £312 over 48 months and guaranteed residual of £8475. He only does about 7,000 miles a year and the deal is for 10K miles a year.

He has asked them to give him an hour to decide on the deal and tried to get them down to £299 but they said no.

I still think he can get this deal down to £299 a month - surely they are desperate to sell cars and £13 a month less is not a deal breaker for Mercedes.

Please could you tell me if he is paying too much for this car (it works out at £14976 over 48 months).

The finance side looks pretty good but what is the C Class actually worth??
 
Presumably he will own it after the term and is financing the car over 48 months minus the £9,900.....?? If so i would say the value of the C Class is the thing to check out properly in case its worth more......
 
It has a guaranteed residual of £8475.
 
If he owns it after the 48 months then effectively he is paying 5.5% gross interest on the purchase which is not bad. You may find the car isn't actually worth the £8,475 at the end of the term but is what they'd give you to retain your business for the next car. It all depends upon what is planned at the end of 48 months. Keeping it, good deal. Trading it back, good deal. selling it private, maybe not so good.
 
Good point. He owes £7500 on his C-Class. He paid £10K a year ago so basically the cars has cost him £100 over the year. Bottom line is he's giving them his C-Class and paying £14976 over 48 months.

His car is a blue C180K SE (it's walnut + black cloth + simplified Merc sat nav APS50). 37K miles 07 reg. Auto. 3 owners. FSH.
 
Good point. He owes £7500 on his C-Class. He paid £10K a year ago so basically the cars has cost him £100 over the year. Bottom line is he's giving them his C-Class and paying £14976 over 48 months.

His car is a blue C180K SE (it's walnut + black cloth + simplified Merc sat nav APS50). 37K miles 07 reg. Auto. 3 owners. FSH.

I personally would put the details into Glass website and get an accurate valuation of the c class and then make a decision based on being happy with their payment of £9,900 for the car. The finance side looks ok to me but i would want to be 100% sure that i was getting a good deal on the trade in....
 
Text the reg of the car to 86007 - they'll send you back a valuation. Don't pay more than that.

The text costs £3 - I don't work for them, etc etc - but I found this service useful when I wanted to buy a 2nd hand car. Can't argue with the prices on there - they come from the trade.
 
Culpano, when are you joining your mate and getting into a three pointed star??!!
 
Hes also got the £7500 that he owns on the c class to pay.
Making it about £22500 hes paying, which isn't a kick in the pants off the full asking price.
 
Well remember that the E200 is probably the least popular as most think its too underpowered for the W211...
 

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