Buying a used Mercedes with hire purchase (HP) car finance

Mercedes-Benz is a German car manufacturer known for its luxury, advanced technology, and strong performance.

At AutoMoney Motor Finance we can help you secure HP car finance on a used Mercedes within minutes.

What’s more we can complete your deal the same day, so you can drive home with your chosen Mercedes model straight away.

Apply now for HP car finance

Complete your details via our online form.

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

Contents

Want to know more about buying a used Mercedes?

If you’re considering purchasing a used Mercedes, here’s a detailed look at what you should know about its strengths and weaknesses:

Strengths of Mercedes

  1. Luxury and comfort:
    Mercedes vehicles are synonymous with luxury. They feature high-quality interiors, premium materials, and exceptional comfort. The brand is known for providing a first-class driving experience with attention to detail and advanced amenities.
  2. Advanced technology:
    Mercedes-Benz is at the forefront of automotive technology. Features such as the MBUX infotainment system, advanced driver assistance systems, and innovative safety features are often included, even in older models.
  3. Performance and handling:
    Mercedes vehicles are celebrated for their performance and handling. Whether it's the smooth ride of the E-Class or the high performance of the AMG models, Mercedes offers a dynamic driving experience across its lineup.
  4. Design and style:
    Mercedes' sleek and sophisticated design language ensures that their vehicles look modern and stylish. The brand’s commitment to design excellence makes its cars visually appealing and timeless.
  5. Resale value:
    Mercedes-Benz vehicles generally hold their value well due to their premium brand reputation and demand in the used car market. This can make a Mercedes a wise investment if you plan to sell the car in the future.
  6. Safety:
    Mercedes is known for its commitment to safety. Many models come with a comprehensive suite of safety features and have high safety ratings, providing peace of mind for drivers and passengers.

Weaknesses of Mercedes

  1. Maintenance costs:
    Mercedes vehicles can be expensive to maintain. Parts and service costs are typically higher than for non-premium brands. Be prepared for potentially higher running costs, including insurance and repair bills.
  2. Complex technology:
    While advanced technology is a strength, it can also be a drawback. Older models with high-tech features might require expensive repairs if these systems fail. Ensure that all electronic components are functioning properly before purchasing.
  3. Fuel efficiency:
    Some Mercedes models, especially those with larger engines or high-performance variants, may not be as fuel-efficient as other cars in the same class. Consider the ongoing fuel costs based on your driving habits.
  4. Depreciation on high-end models:
    Although Mercedes generally holds its value well, higher-end models like the S-Class or GL-Class can depreciate significantly in the first few years. This can work in your favour as a used car buyer but be mindful of potential future depreciation.
  5. Ride firmness:
    While Mercedes vehicles offer excellent handling, some models have a firmer ride quality, which might not appeal to all buyers. Test drive the car to ensure you’re comfortable with the ride comfort.

Tips for buying a used Mercedes

  • Research specific models:
    Popular models like the C-Class, E-Class, S-Class, and GLC each have unique characteristics. Research specific model years for any common issues or recalls to ensure you make an informed decision.
  • Check service history:
    Ensure the vehicle has a comprehensive service history. Regular maintenance by authorised Mercedes service centres is a good indicator of a well-cared-for car.
  • Inspect for wear and tear:
    Look for signs of wear and tear, especially on high-mileage models. Pay close attention to the condition of the interior, electronics, and suspension components.
  • Consider certified pre-owned:
    Buying a dealership-certified pre-owned Mercedes offers benefits like extended warranties and rigorous inspections, providing added peace of mind.
  • Evaluate running costs:
    Factor in potential running costs, including insurance, road tax, and fuel consumption, to ensure the car fits within your budget. Mercedes vehicles generally have higher running costs due to their luxury and performance capabilities.

Overall, a used Mercedes can offer a luxurious and exhilarating driving experience, with advanced technology and strong performance. By doing thorough research and inspections, you can find a high-quality used Mercedes that meets your needs and provides lasting satisfaction.

Buying a used Mercedes with HP car finance

One of the ways to buy a used Mercedes, if you do not have enough money to pay for it in full straight away, is to use Hire Purchase car finance (HP car finance).

This is where you ‘hire’ the Mercedes from us, spreading the cost of the car over monthly payments to us. These payments contribute towards you ‘purchasing’ (buying) the Mercedes from us at the end of the term of the borrowing, when you also pay a one-off “option-to-purchase” fee.

At this point you own the Mercedes completely and our contract comes to an end.

The pros and cons of HP car finance

Borrowing money to buy anything comes with risks, as well as rewards.

Buying a used Mercedes could be the right choice for you and an ideal solution to the practical challenges of getting about day to day. However, whilst a used car can be significantly cheaper than its brand new alternative, it still involves spending a lot of money.

When you borrow money, you need to make sure you can keep up with payments comfortably. You will have other bills to pay and necessary things to buy, so you don’t want to find that the payments on your Mercedes are leaving you short of money each month.

There are also other considerations when buying a used car and below we share the pros and cons, to help you decide if applying for HP car finance is right for you.

The pros

  • Drive away in a Mercedes today: with HP car finance you can get a Mercedes, even if you don’t have all the money for it right now.
  • Spread the cost of owning your Mercedes: cars are expensive, but are often an essential part of daily life. When you buy your Mercedes with HP car finance, you can pay for it gradually over time.
  • Manage your finances: HP car finance comes with a clear payment plan. You can easily compare what your finances will look like each month by taking away the money your Mercedes will cost you, alongside your other bills and costs, from your income to make sure it is affordable for you.
  • Decide how much you can afford each month: if you find the Mercedes you are looking at is too expensive per month, you can look at other options, with lower monthly costs.
  • Choose a term that suits you: you can repay over 3-5 years, which will impact the monthly cost to suit your monthly finances. Borrowing for longer reduces the monthly cost, but be aware it may increase the total amount you repay.
  • Own your Mercedes at the end of the term: If you keep up with your monthly payments, and can afford the “option-to-purchase” fee, you will own your Mercedes at the end of the term of your agreement.

The cons

  • Delayed ownership: You won't own the car until the final payment is made. Missing payments could result in your Mercedes being repossessed.
  • Depreciation: Used cars can lose value quickly. You might end up paying more than the Mercedes is worth over time.
  • Higher total cost: The total amount paid, including interest and fees, will be much higher than the Mercedes' purchase price.
  • Insurance requirements: Comprehensive insurance is required, which can be more costly.
  • Credit impact: Missing payments can negatively affect your credit score, making future borrowing more difficult.
  • Repossession risk: Failure to make payments can lead to the car being repossessed, possibly leaving you with outstanding debt.

Please make sure you read and understand your hire purchase agreement, maintain your car and ensure you can afford the payments before committing.

Why get HP car finance with AutoMoney Motor Finance?

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  • Complete the same day

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Ready to apply?

We hope you found the information on this page useful. If you are now ready to apply for HP car finance with us, we’d be pleased to help.

Get started with an application using our online form:

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Representative example

You could borrow £10,000 over 60 months with an initial payment of £490.66 (including £199 Admin Fee) followed by 58 monthly payments of £291.66 with a final payment of £490.66 (including optional £199 Option to Purchase Fee).

Total amount repayable will be £17,897.60.

29.3% APR, annual interest rate (fixed) 24.7%.

This example uses the representative APR. This is the rate at least 51% of customers are expected to get.

Lending is subject to status and additional affordability checks. Rates quoted are subject to change and will depend on lending amount and personal circumstances.

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