PCP Ballon Make then an Offer?

martyn0610

I have PCP finance deal with Mercedes Benz Finance which is due to come to the end of its term in October 2011. I have a choice at the end i can hand the vehicle back and pay no more or i can pay a "Balloon Payment" of circa £18K and keep the car. Parkers Guide values the car @ £16,000 is it possible to make an offer to the finance company below the £18k that is in my contract and if yes what should i be offering?? thanks for any help

clangnuts

Hand it back and let them take the hit on depreciation? I doubt you'll be able to vary the contract with them.

blacksta

I suspect there is no harm in trying alternatively if you have the 16k you might be find another if not cheaper - what kind of merc is it

scheming_gypsy

Parkers might value it at 16k but people who buy them privately might value them at 14k, so even at 16k you might be over paying.

highet

just remember MBF are notorious for screwing customers for end of contract charges for damage they ''discover'' on your car after they have taken it away!!!!!!! check threads on here and be very careful if you dont want to end up seriously out of pocket

Hintza

To echo what the above poster has said if it is not immaculate (and I mean immaculate) their charges can be high so buying it might be a cheaper option.

I haggled with MB Finance over a Grand Cherokee and they wouldn't shift and I thought they were circa £4k over market.

Flyboy152

martyn0610 wrote: »

I have PCP finance deal with Mercedes Benz Finance which is due to come to the end of its term in October 2011. I have a choice at the end i can hand the vehicle back and pay no more or i can pay a "Balloon Payment" of circa £18K and keep the car. Parkers Guide values the car @ £16,000 is it possible to make an offer to the finance company below the £18k that is in my contract and if yes what should i be offering?? thanks for any help

And this is the perfect example of the advantages of a PCP, despite what some might say about them.

Kilty_2

Hand it back and then if you're very lucky you might be able to track it down at auction.....

Making an offer will not be possible.

blacksta

Flyboy152 wrote: »

And this is the perfect example of the advantages of a PCP, despite what some might say about them.

How is that an advantage, when the poster will be paying 2k over what the car could be worth.

Please explain

Kilty_2

blacksta wrote: »

How is that an advantage, when the poster will be paying 2k over what the car could be worth.

Please explain

............. it's worth £2000 less than predicted yet the OP can just walk away.

Flyboy152

blacksta wrote: »

How is that an advantage, when the poster will be paying 2k over what the car could be worth.

Please explain

Do you know what a PCP is?