Been trying to source my mps 3 through the dealers as I have a merc with 5 months pcp left till I hand it back so I was looking to trade in and get my mps earlier rather then later or so I thought ,
The dealers are having a right laugh with me and not in a good way either as it's a merc they all go trade price as they say they wouldn't keep this car on their forecourt and they are all punishing me with the trade in by nearly 1k to a whopping 2:5k putting me in a negative equity.

Now I'm not daft and know that not letting a pcp run to the end of its deal does land me in neg equity But at least keep the deal alive and with some negotiation available. Here's how my past two deals have gone.

Offered a deal with Mazda Doncaster.
Salesman let me check your car out.
Merc A class 2010 18k miles silver and a few extras.
To settle this car now on pcp I owe £8000
He has a drive and asks me what I am looking for in a deal.
I reply either a pcp deal or a finance deal please but I would like a £300 budget and to keep the deal to around 36/42 months.
The car I'm looking at is a black 2009 mk2 mps 30k on clock priced at 11600

Salesman returns ok I can offer you a pcp over 42 months at £360 with a final payment of £3600


Ok that's £360x42>£15:120 plus a settlement at end £3600 that comes to £18:720
I look at him blank and say no way so he stands up and says let me speak to my manager and within two minutes offers me a payment of £316 a month that's £13272 in payments and a settlement figure. I just said no and ring me if you can come up with a better deal.

Now the second deal was much the same and worked out around 16500 for the total cost of the car.

Looks like I will have to wait till march and borrow the money from the bank as a trade in seems crazy to a Mazda dealer and I can get 12k over four years at £280 and own the car.

Has anyone else encountered this .?

I could always hand the merc back early and voluntary terminate but this does not seem a great option as a voluntary termination although legal does go on your credit rating as a voluntary termination and some leasing hp companys look at it as a bad mark.

Any advice ?

Cheers bob.

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Never lend your car to someone you married. Or to a garage that can't tune it.

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I'd sit it out and get the money from the bank , you'll own the car so you can do as you please and the APR on a bank loan is pretty low at the min so the total amount you borrow is no where near as bad as from a dealer !!
Plus if you go to the dealer as a cash buyer you can get a better deal

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352 whp on stock block mofos
Kill count *rs5 *s5 *335i *535D *AM DBS *evos *supra and pretty much everything else

Our Mazda 2 is on a pcp deal and I asked about settling it and they offered us £500 to settle it.so there is the odd case where it works in your favour but I totally agree with getting your own loan,Mazda are totally trying to rip you off.

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