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Mercedes-Benz Financial Services

Mercedes-Benz Financial Services

 4.1/5 (126 ratings)
  • 5 stars
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  • 1 stars

About Mercedes-Benz Financial Services

This profile has not been claimed by the company. See reviews below to learn more or submit your own review.

Mercedes-Benz Financial Services is an in-house financing provider for vehicles from Mercedes-Benz and other brands under its parent company, Daimler AG. It provides an online payment calculator, and you can apply online or at a local dealership to get preapproved. After your purchase, you can manage your account and make secure payments online.

Overall Satisfaction Rating

  • 5 stars
  • 4 stars
  • 3 stars
  • 2 stars
  • 1 stars

Pros

  • Apply online or at a dealership
  • Flexible payment options
  • Preapproval option
  • Online account management

Cons

  • Limited automaker support
  • Terms only available through dealers

Bottom Line

Mercedes-Benz Financial Services provides financing options for vehicles at Mercedes-Benz dealerships across the country. If you prefer the convenience of financing through your dealership, MBFS is worth considering.

What is MBFS?

Mercedes-Benz Financial Services (MBFS) is a financial services provider that works with Daimler AG customers and dealerships. Whether you’re buying or leasing, you can apply for financing online or directly through your local dealership with MBFS. It also offers extended warranties and insurance backed by Liberty Mutual.

You can manage your account and user preferences on Mercedes-Benz Financial Services’ website, with credit and debit repayment options. Accounts can also be managed on the “Mercedes me” mobile app.

MBFS also provides online resources for car buyers, including payment calculators and leasing vs. financing comparison tools.

How does Mercedes-Benz Financial Services work?

After applying, you can expect a response within four business hours. If you’re preapproved, the company will determine your interest rate and financing terms. Simply bring the printed approval email with you to the dealership. You then have the option of financing or leasing a vehicle. If you're unsure which option is right for you, try MBFS's purchase option selector or speak with your dealer.

Once you've chosen your vehicle and your purchasing arrangement, you can opt to add extended warranty coverage, insurance or a down payment. First Class Leases do not require security deposits, but there are payment options for those who would like to put down a deposit. Your dealer should walk you through all your payment options, including the interest rate and any loan or lease terms.

Mercedes-Benz Financial Services rates

Mercedes-Benz Financial Services doesn’t list all its rates online. However, its online payment estimator can generate costs for leasing and financing a new Mercedes-Benz, including down payments and trade-ins. Your rates depend on your:

  • Vehicle choice
  • Location
  • Credit score
  • Financing terms

However, the payment estimator is exclusively based on the Manufacturer’s Suggested Retail Price (MSRP), which doesn't include any price negotiations, insurance, optional products or other charges from the dealer.

The company also offers balloon financing, featuring lower monthly payments and one larger payment at the end of the loan. Speak to your dealer about current loan rates and terms.

Mercedes-Benz Financial Services FAQ

What credit score is needed for Mercedes-Benz Financial?
Credit score requirements vary between dealers and shoppers, depending on factors like down payments and employment history. As a general rule, most car dealers require a minimum credit score ranging from the mid-600s to low-700s. If you're uncertain if you qualify, apply online to receive preapproval.
Is it hard to get Mercedes-Benz financing?
It depends on your credit history, employment history, down payment and other factors. While it's easy to apply for financing, your credit score and other financial information will determine the likelihood of approval. It’s worth noting that Mercedes-Benz dealerships offer financing options for people rebuilding their credit.
Does Mercedes-Benz offer 0% financing?
Mercedes-Benz may offer 0% financing during promotional periods. However, terms like these often require good to excellent credit histories to qualify.
Does Mercedes-Benz offer 72-month financing?
It’s hard to say with certainty. Loan terms vary, depending on the lender and their current promotions. Contact your local Mercedes-Benz dealership for specific financing options.

Is Mercedes-Benz Financial Services legit?

Yes, Mercedes-Benz Financial Services is the in-house financing company for Daimler AG, a major automaker. It offers leasing and purchasing options at dealerships across the country. You can apply online or in person, and convenient account management is available through your computer or its branded mobile app. One of the best ways to find a deal on an auto loan or lease is by shopping around, so if you’re in the market for a Mercedes-Benz or an affiliated vehicle, it may be worth seeing what MBFS can offer you.

Mercedes-Benz Financial Services Reviews

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Page 1 Reviews 0 - 10
Rated with 1 star
Verified Reviewer
Original review: Nov. 23, 2021

Mercedes Benz Financial Services (MBFS), the wait time is almost 2 hours every single time they are called. I purchased my vehicle 10/23/2021 over a month ago. The bank is still waiting and did not receive the TITLE and, I did still did not receive the "PAID IN FULL" letter. When I called numerous times to find out where this paperwork is so it can be changed over at Motor Vehicles, I was told the account is closed because they were paid. I'm not sure what they do there but, it's definitely not their job and they really don't care. They tell you things that just don't happen. I will never buy another Mercedes after this very frustrating experience.

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Rated with 1 star
Verified Reviewer
Original review: Nov. 3, 2021

In early 2021 I decided to pay off my MB E350 and received confirmation that it was paid in full. For 6 months I have been trying to get my TITLE. Each time I call I get a different story plus promises "it's in the mail". This last time MBFS said I had no account with them - of course not, I paid it off and owe nothing. I finally threatened to call my attorney (my son has his own practice) and accuse them of fraud: Holding on to TITLEs when they do not own the cars.

It was partially effective, I received a letter from MBFS stating they have no lien and no interest in my vehicle - just so I can register my vehicle and drive lawfully. I STILL HAVE NO TITLE. We own 3 MBs and used to be brand loyal. But I will not purchase another MB even though I paid cash ($64K) for one earlier this year and walked away with the TITLE. Thank God I didn't deal with MBFS.

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    Rated with 1 star
    Verified Reviewer Verified Buyer
    Original review: Sept. 27, 2021

    I am having a terrible experience with MBFS after returning my vehicle. Before returning the car, there was a autovin inspection. In the inspection the inspector noted that the charging cable is missing. When I pointed him to the power outlet where the cable was, he mentioned that to return the cable when you return the car. I returned my leased car with the charging cable. But still the MBFS send me invoice charging for the cable amount of $900. When I dispute the charge, they are not able to verify that the cable was returned. I did a CARFAX search with the VIN number and saw the car was serviced for pre-delivery and called the dealership and confirmed that the cable was there in the car. But still the MBFS insist on me paying for the missing cable.

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    Rated with 1 star
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    Verified Reviewer
    Original review: May 14, 2021

    I bought my 2019 GLA off my lease with MBFS. I completed all the forms, sent them back, they cashed my check on 2/6/2021. It is now 5/15/2021 and NO TITLE! This after HOURS ON MULTIPLE PHONE CALLS and resubmitting forms (MBFS LOST THE FIRST SET..BUT NOT MY CHECK). Still after new forms and HOURS again which MBFS could not explain why I don't have a title. THIS THE WORST EXPERIENCE I HAVE EVER HAD WITH A BUSINESS.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 27, 2021

    I paid for all expenses of my lease upfront. This included all payments and services. When I turned in the car (with almost 4000 miles lower than the allowed mileage), I still ended up with a $900 dollar payment for a "turn-in fee" and for a worn tire. I've only leased a car once before and didn't get raked over the coals like this. I wasn't that impressed with the car to start with (Fully loaded GLC 300) and will never lease or purchase a Mercedes in the future.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Jan. 2, 2021

    I wish I had done my research in advance. I leased a GLA, started my lease at 7K miles and turned it in with 26K miles, WELL short of my max mileage. I was charged for new tires on the turn-in, $279 per tire. Are you kidding me? How can they sell a vehicle with tires that are worn out after 20K miles? Plus every minor scratch was charged another $250-300 EACH. This is on top of the $595 "turn-in" fee. They nickel and dime you, but in the $100s, everywhere you turn. Also, avoid the Service Package as it's also a total scam. What they don't tell you is the service package only comes with 1 service per year of your lease and costs $2K. I regret ever leasing a Mercedes and will never work with them ever again.

    11 people found this review helpful
    Rated with 1 star
    profile pic of the author
    Verified Reviewer
    Original review: Oct. 15, 2020

    So much for "the best or nothing"! I paid off my $49,000 loan in July 2020 with MBFS and still have not received my title! I keep calling and keep getting the runaround and this is not to mention having to wait on hold for 30-45 minutes which is inexcusable, they need an answering system that will take your number and call you back! The stupid woman I spoke with in customer service said that my BANK has to decide where my title is being sent to, and when I called my bank they literally laughed and said it is not up to them; it is my car that I paid off. I used MBFS previously and they acted in a professional manner; they are failing miserably now! HIRE MORE HELP WHO KNOWS WHAT THEY ARE DOING! NOT RECOMMENDED!!!

    11 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: Aug. 24, 2020

    DON'T EVER BUY AN EXTENDED WARRANTY ON A MERCEDES VEHICLE. I have been driving Mercedes cars exclusively since 1974. Since 1998 my wife have been driving 2 Mercedes exclusively. I purchased a 2013 Mercedes SL550 with only 8000 miles on it back in 2016 from Mercedes E Ca. I sold my SL550 that I purchased from Mercedes E in June.

    I had several months left on my extended warranty that I paid several thousand dollars. I was entitled to a refund of $875. I canceled the policy on June 4th. When I called the dealer to check on a refund he told me the company he would take care of it - He did. (I have a copy of that transaction.) But 2 months later I have received nothing. When I called Mercedes Financial they had no record of it. They told me to call back the dealer I bought it from. I did last week and the Financial Director I dealt with is gone.

    I was told by the new F.D that the company had been sold and he said he was not responsible for the refund that I had to go after the new company. I asked him for contacts of the new company so that I could pursue them to obtain my $875 refund. He said he would check for me but 2 phone calls later I never heard back from him. AS a last resort I have called Mercedes Financial 6-7 times and got nowhere. They keep transferring me back and forth to the same people accomplishing nothing but wasting many hours of my time. After driving Mercedes over 40 years I am screwed out of my $875. I unfortunately I obtained a 2020 SL450 which I JUST before they refusing to pay me my refund. THIS WILL BE THE LAST MERCEDES I WILL EVER DRIVE.___

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 24, 2020

    We leased a vehicle from Mercedes-Benz of Massapequa. Upon returning our old lease and getting the new lease we were informed by the salesperson that fees would be waived. Weeks later after returning the vehicle we have been harassed by Mercedes-Benz Financial stating that we owe them two additional months of lease payments due to the car needing repairs and the body shop now fixing it quick enough. When I spoke with them they told me I need to fight with my insurance company to make those payments. Meanwhile they have the new car and have nothing to do with the old one anymore. Mercedes financial was not helpful. They were rude. Did not care what I was told from the sales person. I will never do business with this company again. They also do not tell you that when your lease is over and if you do not wanna lease with Mercedes again that they charge you a fee to walk away.

    I have these vehicles from other dealers and never ever had such problems like I am having now with Mercedes financial. People need to be aware that Mercedes financial are not reliable. They lie and do not work with their customers. Buyers be weary of this company and be aware before you sign any documents because what is said at the dealership is not what is related to the financial department and you’ll get no support from the dealer when the financial company keeps on calling and harassing you.

    9 people found this review helpful
    Rated with 1 star
    Verified Reviewer
    Original review: July 23, 2020

    Very unhappy with Mercedes financial practices - they stopped all lease transfers in the beginning of pandemic lockdown and have not resumed since. All other lease offering companies did. I call Mercedes several times, and they could not offer me any logical explanation for continuing this practice, which implies that Mercedes is exploiting this pandemic to further their agenda (selling more vehicles and initiating new leases). This action created enormous hardship for me - I am paying for vehicle I am not using, and also people who contacted me trying to assume the lease who need solutions to the problems created by pandemic. As a physician, it is hard to see how Mercedes can do this during the time when my colleagues and essential workers are putting their lives online to help others. By pursuing profits, Mercedes is making it at the huge expense of the leaseholders. At the time of the pandemic, it is unforgivable.

    17 people found this review helpful
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    Mercedes-Benz Financial Services Company Information

    Company Name:
    Mercedes Benz
    Website:
    www.mbfs.com