Mercedes car finance.

AdrianC

Scrapit said:

KimJongUn88 said:

What makes it disgusting?
They must be inundated with these requests.  Their workforce will be decimated by the virus.  They will also be waiting on a decision further up the food chain.  This doesn't make the delay in responding disgusting.

Decimated? Sounds a bit much. Remember the number of cases are published.

"Decimated" rarely carries its literal meaning of one in every ten. But as far as the number of Covid cases - the published figures are even acknowledged by the government to be wildly inaccurate. There is virtually no testing available on any but the sickest of people being hospitalised.

MARKMAKAVELI

New update from Martin Lewis and also from Mercedes.

ML said "If you've a car loan, PCP, leasing or HP deal and are struggling to pay due to coronavirus, you can get a three month payment holidays on request.

Ask to defer payments for three months, though as interest still racks up, only do it if there's no other option.

They can't repossess cars for non-payment."

Mercedes told me this morning after I called them again explaining its been a month with no reply:
"We can set your payment to come out at the end of next month to effectively buy you time until a decision is announced in the coming days, we expect 3 month holiday period to be offered but awaiting confirmation".

Hopefully some good news for others out there too 🙌

MARKMAKAVELI

UPDATE: Can someone help me make sure I've understood this correctly please?
Mercedes previously told me on the phone that the 3 month holiday payment was imminent and that they would process this for me. They already put my service plan payments on 3 month hold.

Since then, they sent an email which basically states that it isn't a payment holiday as you'd expect. I will still owe the payment plus interest. I thought it would be a case of if I have 6 months left on the contract, I would still owe that and would restart my contract and see out the remaining 6 months after the 3 month pause. 

facade

That is how  a "holiday"  works.  They defer the payments, but charge interest on the outstanding sum during that time. 

The "mortgage holiday" is exactly the same.

No-one is giving anything away