Where do u recommend I look for good MB finance deals on new cars?

[throttle_monkey]

...other than my local dealer, that is.
People I've spoken to have had mixed experiences with the myriad of internet brokers out there.
Can anyone recommend somewhere they have had more than one pleasant buying experiance?
Can I deal direct with Mercedes-Benz in the UK?
Any comments welcome

 

[HumberMart]

IMHO for low rate finance (PCP) you will not do better (or even get close) to the current offers from the local MB Dealer, as they are MB subsidised. Of course you may be able to get a larger discount from an online site like drivethedeal.com, and the discount may be more worthwhile than MB's discounted finance. MB's average PCP rate is about 5.8%, and you will normally pay at least twice this rate for PCP from an independent finance company.

 

[Pappilo]

You wont get a better rate than Mercedes is offering at the moment. I got 5.9% after getting almost £3000 of the price of the car. It wasnt my local dealer though, it was a dealer about 200 miles away from me.

 

[mbenz76]

They are very good deals at the moment. I got 5.8% and over £1600 contribution. Very difficult to beat elsewhere IMO.

 

[Merc Owner 2B]

They are very good deals at the moment. I got 5.8% and over £1600 contribution. Very difficult to beat elsewhere IMO.

Totally agree. Just doing a deal with my dealer. Cannot be matched anywhere on the net. Look at the offers section on the MB UK website. Some great deals and you'll always get a bit more from the dealer. Plus they have access to a greater stock.

 

[mbenz76]

Totally agree. Just doing a deal with my dealer. Cannot be matched anywhere on the net. Look at the offers section on the MB UK website. Some great deals and you'll always get a bit more from the dealer. Plus they have access to a greater stock.

I couldn't get them to better the finance deal, but I guess that's because I wanted a factory order E350. Did manage to get 6% off list though which I thought was quite good going.

 

[Merc Owner 2B]

I couldn't get them to better the finance deal, but I guess that's because I wanted a factory order E350. Did manage to get 6% off list though which I thought was quite good going.

Was yours the coupe as my dealer says they can't discount this?

 

[Aoraki]

I couldn't get them to better the finance deal, but I guess that's because I wanted a factory order E350. Did manage to get 6% off list though which I thought was quite good going.

Finance at 5.8% on 10K, and 7.5% off list on my factory spec E350, which I thought outstanding.

 

[mbenz76]

Was yours the coupe as my dealer says they can't discount this?

Mine is salon. I didn't expect much off at all to be honest. Tried for 10% but not a chance Always worth asking though.

 

[mbenz76]

Finance at 5.8% on 10K, and 7.5% off list on my factory spec E350, which I thought outstanding.

7,5% is very good indeed. You either have better negotiating skills or a nicer dealer than me

 

[Palmball]

If the balance after deposit is going to be over £25k and you want low interest and low monthly payments then try an independent broker like Oracle finance (Prestige car finance & vehicle finance from Oracle Finance Ltd) - they are way cheaper than anything else I could come across. They advertise quite regularly on the back page of Autocar as specialists for prestige cars and my personal experience is very good.

On my C63 (admittedly with the best part of £45k financed after deposit), my payments are at least £200 cheaper than what MB could offer. The interest also tracks the base rate so when rates are so low like they are currently, you pay very little interest.

There are some risks compared to regular dealer finance. Firstly, you have less protection if you don't pay - the agreement will be unregulated so if you can't pay, you're likely to get the car repossessed very quickly! Also, there is a risk if interest rates go up - your payments don't go up but it takes you longer to pay the balance but in the current financial climate, I think we're safe from any major rises for a while yet!

 

[Rory]

If the balance after deposit is going to be over £25k ......

..... the agreement will be unregulated...

The £25K limit for regulated agreements was abolished from April 2008 and all agreements are now regulated by default You can get around that by signing a declaration that you are a high net worth individual.

 

[Palmball]

The £25K limit for regulated agreements was abolished from April 2008 and all agreements are now regulated by default You can get around that by signing a declaration that you are a high net worth individual.

Yes, your are right. They do now offer only to high net worth individuals or for business use.

I was actually talking to them yesterday as I'm considering upgrading the C63 to one with PPPlus and was discussing how they offer finance to 'normal' individuals (i.e those that do not earn £150k + pa) and apparently it's quite easy to put the car down as business use as long as one is able to show that the car is insured for business use.

 

[MBSteve]

I get my ML 300 CDI on Thursday. Ordered through a broker via MB Finance, got nearly 5k of the price and 5.9% APR. Its a 4 year deal at £500 per month (3+47) with a purchace price of £16k at the end if you want to buy. Worked it out and the cost over the four year plus the £16k is less than the retail price. Also, only ordered it 2 weeks ago and as mentioned it gets delivered Thursday am this week so allround, chuffed with the deal.

 

[Rory]

Do you know what that deal is called? 3+47 sounds like contract hire, but then there wouldn't be the option to buy. Is it lease purchase?

 

[Roygarth]

Yes, your are right. They do now offer only to high net worth individuals or for business use.

How do they define a 'high net worth' individual?

 

[Rory]

How do they define a 'high net worth' individual?

There's a whole of bunch of detail in the Order:
http://www.opsi.gov.uk/si/si2007/pdf/uksi_20071168_en.pdf

I think money-wise, basically it's:

- received during the previous financial year net income totalling an amount of not less than £150,000*; and/or*
- had throughout that year net assets with a total value of not less than £500,000*.