Mercedes-Benz cars are generally regarded as luxurious, well-built vehicles that don’t particularly depreciate heavily in value and are offered in a number of formats such as saloon, hatchback, estate and 4×4.
A lot of people want to buy cars made by this German car manufacturer because of the prestige that is associated with the marque, while others just want to own a car that is comfortable and reliable, but isn’t mass-produced to such an extent that there is nothing “special” about the brand.
The trouble is, brand new or nearly-new models can sometimes be out of reach for people because of the premium prices that they attract. But did you know that Mercedes-Benz cars can actually be in virtually everyone’s reach thanks to some awesome Mercedes finance deals currently on offer?
If you are thinking of buying yourself an E-Class estate, or indeed any other model produced by Mercedes-Benz, this handy guide will tell you all you need to know about how you too can afford to buy a Merc!
One of the most-flexible ways to buy a brand new Mercedes-Benz car is to opt for the Agility finance plan.
The way that it works is extremely simple; you pay a deposit for the car you want, agree a set of monthly payments for a pre-specified period of time (depending on how many miles per year you anticipate on driving) and at the end of this time period you can make one of three choices:
Buy the car – you can firstly buy the car by paying the balance remaining, which is also known as the Optional Purchase Payment and is equal to the car’s guaranteed future value. You can usually pay the car off in cash or arrange for a straight finance agreement;
Hand the car back – as long as you meet your obligations for any pre-agreed excess mileage charges, you can simply hand the car back with nothing further to pay. This can be useful if you want to take out the same style of finance on a different brand new Mercedes-Benz car;
Buy and part-exchange – alternatively, you could use your equity in the car to put towards the purchase of another brand new Mercedes-Benz car. This is perfect for those that want to refresh the model of car they own every three years or so and don’t want the hassle of having to buy the car they already drive and then sell it privately.
The traditional way of buying a car is to opt for a hire purchase plan. Although this is a less-flexible way of buying a new or used Mercedes-Benz car, it means that you own the car outright once you have made all of your agreed monthly payments.
It is worth bearing in mind that you normally have to put down a deposit of say 10% or more, and your monthly payments will be higher in comparison to other finance deals, depending on how long you take the finance out over.
Suitable for business fleets is the contract hire style of financing. You simply put down a small deposit, pay for the use of the car over 3 years or so, and then you hand the car back to your Mercedes-Benz dealer.