AClass A180d Should I Sell 3rd year PCP

[caz787]

Hello all, apologies if this is the wrong part of the forum but I am just looking for some advice - also apologies if I come across like I don’t know what I’m doing - basically I don’t!!!

Currently in 3rd year of PCP with A180d AMG Line Premium has 20,000 on the clock, 68 reg. My outstanding finance is £15759 and this is the settlement figure so Mercedes say. Webuyanycar are offering me £23,000 after inspection today they didn’t even try knock me down - the guy even told me to try sell it private as I’d prob get more - strange coming from him really.

I am in a predicament need to buy a new car next Sept, lots of things planned holidays etc so worried about finding a deposit for next Sept and wonder will car be in negative equity then? I know I am in a good position here due to increase in used car prices.

If you were in my position would you sell ASAP clear finance and have a decent cash deposit on another car? I am after a BMW Gran Coupe (wrong part of forum I know) BMW saying not available until April and price hike from tomorrow - just my luck!! For the time being I have access to my dads vehicle.

Not sure what to do - to me it sounds too good to be true I am worried I will sell it for £23,000 and then be charged some kind of additional exit fee with Mercedes. Or if I stick with car another year will it not having any equity in it…..

[Silenoz]

You need to get a settlement figure from Mercedes, WBAC will need the letter from them to confirm the amount of finance outstanding.

You don't say what deposit you put into the A-class - if you are able to sell it, clear the finance and walk away with £7k + is this a much better position than you went into the car with?

As you've already seen, there are some long lead times on some new cars and secondhand ones have jumped in value as a result.

Depends what is important to you - I bought a new car in March, didn't get on with it and was able to sell it for slightly more than I paid for it at the end of August. It's replacement is showing as being worth £1500 more than I paid for it in August, but I don't know what I'd replace it with at the moment. I had thought of just buying something cheap for a year or so, but I've done that before and I always end up getting something new after a few months as I like the toys and reliability of a new car.

[caz787]

Thank you for responding we put £2.5k deposit in on the A class!! I think as a starter for 10 I will ring merc finance and get a letter with settlement figure so I have that to hand!! I am worried we leave it a few months and the price of used cars comes down drastically - anyone got a crystal ball going spare!!

[Silenoz]

I think prices are at or close to peaking, so if you so want to get out of the Mercedes you might be better doing it sooner rather than waiting.

Mine had gone up by another £200 between last Friday and Saturday, but has dropped back by the same £200 this week.

[Ron240]

caz787 said:

I am worried we leave it a few months and the price of used cars comes down drastically - anyone got a crystal ball going spare!!

The industry is predicting used prices to stay high at least until the end of the year.
It is hard to say if prices have peaked at the moment but they certainly have been continuing to rise. It is hard to imagine them going much higher...but then not so long ago it would have been almost impossible to imagine where used values are at the moment.
I have a June 2020 Mercedes bought brand new and I have been regularly checking WBAC quotes over the past couple of months, and every one has been higher than the previous.
My latest quote obtained today puts my car £40 above its brand new full list price, which is £3700 more than I paid for it.

Edited by Ron240 on Friday 1st October 20:45

[caz787]

Thank you - WBAC has offered me £345 more now than yesterday - going to keep my eye on this and soon as I see the market dip look to cash in then. Least it will give me a bit more time with a car as my new one not due until Jan/Feb if I am lucky