MB Financial - Can you negotiate on GFV?

[tazco]

Hi,

I have an E350CDi which is ending its PCP at the end of June and the GFV is set at £18,500 which is high... The resale or value is about £14,500... Clearly when I hand it back, it will go to BCA auction and get maybe £13k... Are there any chances of negotiating with MB Financial? I'm going to call them tomorrow to see if they are prepared to take a lower price. My only concern is that these are call centre staff and not sure they'll get common sense.

Has anyone been through the same example? I'm sure there are others as MB seem to have over inflated their GFV's massively..

Thanks in advance for any advice...

[breadvan]

Didn't work for me a few years ago with BMW. Similar position, I was told to bugger off.

My car appeared at BCA a few months later and went for a song, but by then I had sorted something else out.

I felt everyone lost......

[tazco]

I'll give it a go... Will update...

[tazco]

Had a chat with MB today and they were useless. They understood what I meant but said there was no budge on policy.

Roll on my next lease car!

[hornetrider]

tazco said:

Roll on my next lease car!

And there's your answer

What do you think makes them more money?!

[tazco]

I know... But the only thing is that it won't be a Mercedes...

[rickh]

One thing to note is, with pcp you carnt auctally loose, They have set the GFV....so

1. If the car was worth 20k to sell you could of sold it and cleared the finance and have 2k cash

2. Part exchange it in at mercedes for 18k against another merc...there loss your gain

3. Hand it back and walk away with no financal tie to the car...


If you dont want the option of ever owning the car, then the best option would probaly be to go for a operating lease over 2/3 years.