Finder is committed to editorial independence. While we receive compensation when you click links to partners, they do not influence our opinions or reviews. Learn how we make money.

Mercedes-Benz Financial Services auto loans review

Last updated:  

Recent college grads, service members and loyal customers might qualify for special discounts.

  • Best for well-qualified buyers looking for low rates on luxury new and used cars.
  • Pick something else if you’re a first responder looking for discounts.

Starting at 1.99%

APR

Details

Product NameMercedes-Benz Financial Services
Financing typesPurchase,Leasing
Eligible car typesNew,Certified Preowned
Cosigners allowedYes

Pros and cons

Pros

  • Discounts available for college grads, military members and loyal customers
  • Preowned vehicles may qualify for special offers and financing
  • Convenient mobile app to manage your loan or lease

Cons

  • May be charged a fee to change repayment due date
  • Payment estimator doesn’t include potential fees
  • No discounts for first responders

Mercedes-Benz Financial Services special discounts

  • Military: Yes
  • College grad: Yes
  • Repeat customers: Yes
  • First responders: No
  • Accessibility equipment: Yes

Mercedes-Benz Financial Services reviews and complaints

BBB accredited No
BBB rating A+
BBB customer reviews 1 out of 5 stars, based on 5 customer reviews
BBB customer complaints 109 customer complaints
App Store Score 2.5 out of 5 stars, based on 150 customer reviews
Google Play Score 4 out of 5 stars, based on 204 customer reviews
Customer reviews verified as of 15 October 2020

There’s no Trustpilot profile for Mercedes-Benz Financial Services (MBFS). Its Better Business Bureau profile has little in the way of reviews, but it does have just over 100 complaints as of October 2020.

How to apply

Applying for financing through Mercedes-Benz Financial Services only requires a few basic pieces of information. Follow these steps to get started:

  1. Go to the Mercedes-Benz Financial Services website and click Credit Application in the main menu.
  2. Select if you’re applying as an individual or a business, then if you’re applying with a coapplicant.
  3. Read and accept the terms of use and privacy notice.
  4. Select the year, class and model of your desired vehicle.
  5. Select the type of financing you want — lease, loan or balloon loan — then enter your down payment, desired term and the value of your trade-in, if applicable.
  6. Select an authorized Mercedes-Benz dealership in your area.
  7. Enter information about yourself, your residence and your employment status — including your Social Security number and monthly income.
  8. Read over any relevant state disclosures, then review and submit your application.

Mercedes-Benz will review your application and notify you of your preapproval status within one to two business days. After you print your preapproval offer, contact your Mercedes-Benz dealership to go over your options. Bring a form of payment, your driver’s license and proof of insurance with you to finalize your purchase.

How do repayments work?

Mercedes-Benz Financial Services offers four payment methods:

  • Through the MBFS website
  • Through the MBFS mobile app
  • By phone
  • By mail

If you choose to pay online or through the mobile app, you can set up automatic payments so it’s one less thing you have to worry about. Mercedes-Benz doesn’t mention any late fees on its website, so reach out to your local Mercedes-Benz dealership for more details on potential costs.

Compare more car loan options

Data indicated here is updated regularly
Name Product Minimum credit score APR Loan term Requirements
Carvana
No minimum credit score
3.9% to 27.9%
Varies
18+ years old, annual income of $4,000+, no active bankruptcies
Get pre-qualified for used car financing and receive competitive, personalized rates.
car.Loan.com Car Loans
300
Varies by network lender
Varies by lender
Must be a US citizen with a current US address and employed full-time or have guaranteed fixed income.
Apply with a simple online application to get paired with a local auto lender. No credit and bad credit accepted.
CarsDirect auto loans
Varies by network lender
Varies by network lender
Must provide proof of income, proof of residence, and proof of insurance.
Save time and effort with this lending service specializing in beginner-friendly or subprime car loan.
Auto Credit Express Car Loans
300
Varies
Varies
Must be employed full-time or have guaranteed fixed income of at least $1,500/month and be a current resident of the US or Canada.
Get connected with an auto lender near you, even if you have bad credit.
Monevo Auto Loans
500
3.99% to 35.99%
3 months to 12 years
Credit score of 500+, legal US resident and ages 18+.
Quickly compare multiple online lenders with competitive rates depending on your credit.
loading

Compare up to 4 providers

Ask an expert

You are about to post a question on finder.com:

  • Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
  • finder.com is a financial comparison and information service, not a bank or product provider
  • We cannot provide you with personal advice or recommendations
  • Your answer might already be waiting – check previous questions below to see if yours has already been asked

Finder only provides general advice and factual information, so consider your own circumstances, or seek advice before you decide to act on our content. By submitting a question, you're accepting our finder.com Terms of Use and Privacy and Cookies Policy.
Go to site