I am leaving the scheme and terminating early, just got to call them back to finalise it, once i know exactly when my new car is ready to exchange for their’s it’s all arranged. I’m dropping the car to the dealer i buying from and they doing the exchange, albeit for a car i will own.
As I’ve been on the scheme for a while and never changed early before fee is only £50 not £250. Our current car just is not as suitable as it was and the car we buying is not on the scheme in the format we want.
I’ve never asked how much the car is to buy in 11 years of being on the scheme, but i have heard on here they not as cheap as you could get one of the same spec and mileage on the second hand market. Plus you’d have to pay the whole amount to buy it from Mb, which is not really an option for many.
You can rejoin anytime an they did say if i was to termainate again, it would be £250.
My new car will be arriving in 3 to 4 weeks from last weds when i agreed to buy it, payed a small deposit and was accepted for the finance. Which is much better than the long waits for new cars on the scheme many are suffering and that’s not really an option for us and is why were terminating early.
Plus i don’t see things getting any better sooner for the scheme, even if more cars come back onto the scheme, what will the ap’s be (high i’d imagine) and for me that’s dead money, like renting a house.
Whole process has been really easy though. Part of me is sad to leave the scheme but logically for us it’s the right thing to do.
Another option for you might be to extend for another 2 years if you coming up to 3 years and pretty much they will allow it during these uncertain times, if no car is available. But again, i don’t see that as good value for us as we paying the same for an older car as for a new one, taking aside any Ap. Right now though to many ap’s are too high for me to justify leasing and car we are getting on hp not pcp is at 0% apr so a real bonus.
Most new car loans are between 5% & 8% apr, I’ve been looking and that’s what pushed me towards the car we getting obviously it’s not probally suitable for yourselves but it’s a huge differrence, if an 0% offer for a larger 7 seater did become available that was suitable and affordable for yourselves.
Pcp deals are cheaper but I’d rather pay more and own it at the end and then i might keep it even longer.
Goodluck though with whatever you decide to do..