Here's one for you......and I ask simply because I genuinely have no idea as to what the answer is....

My daughter and her new husband both lease a Mercedes each - each one on a three year lease. His was nearly new (11 plate) when he got it just over a year ago, and hers was brand new (64 plate) when she got hers (at roughly the same time).

Due to a change in circumstances they want to go down to one car.

What are their options? Are they "stuck" with Mercedes because both of their cars are still "in contract"? Or can they go elsewhere, and if so, how?

Will Mercedes (or anyone else) allow them to cease their contracts early and take a single vehicle? If so, how does the calculation work in terms of what they owe/what the cars are worth against the value of the new car?

I have absolutely no experience of this situation having always bought my cars outright.

Any and all advice/assistance you can provide would be useful.

If it's a PCP you simply pay off the finance. I've never completed a contract yet.

I should add, I've always stuck with LR. 21MY Defender 90 S 3.0 D200

Last edited by j77 on 16th Oct 2015 6:14 pm. Edited 1 time in total

It depends on the type of finance involved, with some contracts, once you have paid 50% of the contracts total you can simply hand it back. There are many types of lease though and the lease company will make it as difficult as possible.
Read the contract

Sadly I don't have access to the contracts, and to get access would mean I fall into the "interfering father" bucket.....

Anyone have experience with Mercedes PCP specifically?

I think it's safe to say they won't have paid off 50% of the contract value after only one year of a three year lease. Equally, will they let them hand back two vehicles to then only start a new lease on a new car?

If they wanted to go somewhere other than Mercedes, is that possible?

Anyone have an idea as to how they would perform the value/trade in/new car calculation assuming it was "standard" 3 year PCP?

I would say that Mercedes PCP will be the same as any other given the FCA are pretty much in charge of all finance etc. I have just ordered a new Mercedes V Class for March the 1st for my new business & that is on PCP for which I doubt that will run full term as I normally sell early. (Past) Freelander 2 HSE 2010 MY In Rimini Red.
(Past) RR Evoque Dynamic Lux Si4 In Firenze Red.
(Past) RR Evouque Pure Tech in Barollo Black with bespoke Firenze Red colour coding.
(Present) Freelander Metropolis 2015 MY In Santorini Black with Ivory Premium Leather.

There will most likely be a penalty for early termination. You might find this useful.

Or indeed this: http://www.financingyourcar.org.uk/ Ex AA Series III LWB Safari - Gone
300TDi Disco (bought new - terrible car) sent back after 18 months
Freelander 1 Estate - leased, given back at end of lease
200TDi Disco (bought from a mate with 100,000 on the clock) - Gone
Disco 2 TD5 - sold and exported to France
FR2 TD4 GS - Gone
FR2 SD4 HSE - Now changed for a DS
New model ex-demo Evoque S 180 in white
Unable to order a new DS, so gave up. Now have a Volvo S90 Recharge.

I have never had any penalties for early termination. When I got my first Evoque that was on 5 year PCP. I sold that before I had even had it 1 year. I paid off all the outstanding finance, got all my deposit back plus £2000. (Past) Freelander 2 HSE 2010 MY In Rimini Red.
(Past) RR Evoque Dynamic Lux Si4 In Firenze Red.
(Past) RR Evouque Pure Tech in Barollo Black with bespoke Firenze Red colour coding.
(Present) Freelander Metropolis 2015 MY In Santorini Black with Ivory Premium Leather.