Mercedes agility personal finance plan
Discussion
When you break even...
From experience Mercedes set their final balloon payments (or guaranteed future value) very high, so you could be in negative equity until quite far on in the deal unless you've put in a chunky deposit.
Only way to know is to keep an eye on what your car is worth against what you currently owe, it'll vary car to car, deal to deal.
P.S. Ive assumed if its an Agility then its likely a PCP not a lease.
From experience Mercedes set their final balloon payments (or guaranteed future value) very high, so you could be in negative equity until quite far on in the deal unless you've put in a chunky deposit.
Only way to know is to keep an eye on what your car is worth against what you currently owe, it'll vary car to car, deal to deal.
P.S. Ive assumed if its an Agility then its likely a PCP not a lease.
yellowbentines said:
When you break even...
From experience Mercedes set their final balloon payments (or guaranteed future value) very high, so you could be in negative equity until quite far on in the deal unless you've put in a chunky deposit.
Only way to know is to keep an eye on what your car is worth against what you currently owe, it'll vary car to car, deal to deal.
P.S. Ive assumed if its an Agility then its likely a PCP not a lease.
I am unsure hence asking wiser heads. From experience Mercedes set their final balloon payments (or guaranteed future value) very high, so you could be in negative equity until quite far on in the deal unless you've put in a chunky deposit.
Only way to know is to keep an eye on what your car is worth against what you currently owe, it'll vary car to car, deal to deal.
P.S. Ive assumed if its an Agility then its likely a PCP not a lease.
Its early days yet and I have not entered into a deal just trying to get a grasp on the best way forward.
That said I'm happy to go full term on the agreement I am just seeing if it's more efficient to return early.
I've had a few of these agreements with Merc, 3yr and 4yr deals, I've never 'broken even' on what was owed vs. outstanding value of the car until I was within the last 6 months of the deal.
You stand a better chance of equity and being able to get out, trade in or swap before the 48mth point if you put in a big deposit, but you're paying for it either way.
I'd suggest only getting into it if you want to keep the car for the full term of the agreement, unless you're prepared to pay to come out early.
Also, be aware that with Mercedes Agility you have to keep a main dealer service history or they will penalise you if you let the agreement run it's full term (the penalties will be in the agreement) and hand the car back, the way around this if you prefer indie servicing is to trade-in just before the end of the term rather than hand back.
You stand a better chance of equity and being able to get out, trade in or swap before the 48mth point if you put in a big deposit, but you're paying for it either way.
I'd suggest only getting into it if you want to keep the car for the full term of the agreement, unless you're prepared to pay to come out early.
Also, be aware that with Mercedes Agility you have to keep a main dealer service history or they will penalise you if you let the agreement run it's full term (the penalties will be in the agreement) and hand the car back, the way around this if you prefer indie servicing is to trade-in just before the end of the term rather than hand back.
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