No response from Mercedes-me car finance

Monty53

Hi MSE,
Can you offer advice please.
The balloon payment on my car is due 25th June after 3 years of monthly payments.
However, I have been furloughed since April and am now threatened with redundancy.
I emailed my car finance company, Mercedes-me,following their website guidelines on 1st May, which they acknowledged in an automated reply and said they would respond within 10 working days, after waiting 3 weeks I emailed again and received the same response but still have not received any personal communication.
I asked them if it would be possible to postpone the ballon payment for 3 months and in the meantime I would continue to make the monthly payment due to my uncertain situation caused by Corona virus.
I have tried to call them but the recorded message says they will not deal with finance questions and to email them, which I have done.
I’m at a loss to know what to do next, any advice would be appreciated, also if anyone else is having a similar experience with Mercedes finance. 

Thrugelmir

Is there an option to hand the car back? 

Monty53

Thanks for your reply.
The website says they’re not making collections, besides I need a car as I’m a carer.
I find it very frustrating not being able to speak to anyone, I understand they must be busy but it’s been over 5 weeks since my first email so they’re not keeping their ‘decision within 10 days’ promise, I’m finding it very stressful being stuck in limbo.

neilmcl

They wont "postpone" your final payment but they can re-finance if you want to keep the car. You need to actually phone and speak to someone rather than rely on email to sort this.

Monty53

neilmcl said:

They wont "postpone" your final payment but they can re-finance if you want to keep the car. You need to actually phone and speak to someone rather than rely on email to sort this.

Thanks for your reply.
Unfortunately that’s exactly what I can’t do, as I said in my previous post they are not accepting calls regarding finance, the recorded message gives the email address.
I don’t really mind what their decision is, re-finance or give the car back, what I find frustrating and unprofessional is the lack of communication, if I can’t postpone the final payment then tell me so I can deal with it, not keep me waiting for weeks on end. 

HampshireH

Are you pressing the finance option on a switchboard when you call?

I usually try any other option to get through then feign ignorance at my misdialed digit if its urgent.

Normally a customer service advisor will have at least some info to try and help.

Galloglass

The first thing to check before you call them, is what instructions are they working to, and what questions about your finances will you be asked. Based on this, you can get an idea of the likely result. FCA guidance says this

Where a customer wishes to retain the vehicle, but does not have funds to cover the balloon payment due to coronavirus related financial difficulties, firms should work with the customer to find an appropriate solution. Given the increased potential for disparity between the balloon payment and the value of the vehicle in the current climate, firms should ensure that solutions do not lead to unfair outcomes. For example, refinancing the balloon payment might not be appropriate in the circumstances.

Whole item in detail here.
https://www.fca.org.uk/publications/guidance-consultations/motor-finance-coronavirus

That second bit in bold suggests that the balloon payment you may be asked to make may not reflect the true value of the car. In other words, hand it back and wait for prices to drop.

Monty53

Thanks Galloglass,
All points noted.
👍

daveyjp

When we handed a car back to Merc everything was done through the dealership.  As delaers are now open call them and ask them on the current process.

I doubt they are currently inundated with new car sales so admin may be happy for some work to do!

Monty53

daveyjp said:

When we handed a car back to Merc everything was done through the dealership.  As delaers are now open call them and ask them on the current process.

I doubt they are currently inundated with new car sales so admin may be happy for some work to do!

Thanks, yes I have also called the dealership, they aren’t making any collections and they referred me to the website which also says they’re not making any collections! 
I would like to keep the car, as was my original intention before Coronavirus and furlough hit, I’ve asked for the 3 month extension to the agreement that they’re offering under Covid-19 guidance ... but apart from initial automated email giving a case number, 6 weeks ago, there’s been absolutely no proper communication from them. 

As if everyone hasn’t got enough to contend with at the moment, personally I’m at the end of my tether. 

Galloglass

Thanks, yes I have also called the dealership, they aren’t making any collections and they referred me to the website which also says they’re not making any collections! 

How these packages usually work is the dealer signs up the customer and refers the customer to the Finance Company (FinCo). It is the FinCo that owns the car until the last payment is made i.e. balloon payment. So it will be FinCo that organises the transfer of ownership or the collection of the car (which they are not doing). Dealers have nothing to do with it.