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Mercedes-Benz USA Begging its AMG GT Drivers for Low Interest Loans

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Mercedes-Benz USA Begging its AMG GT Drivers for Low Interest Loans

 
Old 04-09-2018, 04:58 PM
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Mercedes-Benz USA Begging its AMG GT Drivers for Low Interest Loans

Has anyone else received this extraordinary letter, begging me for a low interest loan?

This is almost as pathetic as Tesla's Ponzi scheme in taking "reservations" for the Model X which are years away from fulfillment. Here, however, Mercedes-Benz is paying interest.
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Old 04-09-2018, 05:15 PM
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Bizarre.
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Old 04-09-2018, 06:13 PM
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Originally Posted by MalibuScott View Post
Has anyone else received this extraordinary letter, begging me for a low interest loan?

This is almost as pathetic as Tesla's Ponzi scheme in taking "reservations" for the Model X which are years away from fulfillment. Here, however, Mercedes-Benz is paying interest.
I got it too! Pathetic agreed!
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Old 04-09-2018, 06:14 PM
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I got it too... shredder.
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Old 04-09-2018, 06:19 PM
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WOW! I can't believe it! Your name is actually Malibu? LOL
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Old 04-09-2018, 06:44 PM
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Now if Mercedes-Benz Financial Services would combine a great purchase or lease deal with a low interest loan, I might be interested. But this is ridiculous.

On the other hand, GMAC became Ally Bank.

(Yes, E55 KEV, not only am I named "Malibu Scott," but I live on "Street Address" in Malibu. I get a lot of mail I can tell you.)
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Old 04-09-2018, 08:35 PM
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So strange
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Old 04-10-2018, 09:21 AM
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Originally Posted by MalibuScott View Post
(Yes, E55 KEV, not only am I named "Malibu Scott," but I live on "Street Address" in Malibu. I get a lot of mail I can tell you.)
I like it. It's a cool name.
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Old 04-10-2018, 11:01 AM
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Thats odd.. I got it to and wasn't sure I got it for being affiliated...didnt know customers got it also.. but yea..no interest.
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Old 04-10-2018, 06:50 PM
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I think it's really sleazy. I got several and they already know your credit score so they are hocking this risky bet as if they're a bank. Just like their insurance deal with Liberty Mutual which is only an A rated company.
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Old 04-11-2018, 11:02 AM
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If Mercedes-Benz Financial Services defaults on one of these bonds, and the bondholder has a lease or is financing his car with MBFS, can the bondholder offset his bond loss with the obligation he has to MBFS?

Asking for a friend.
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Old 04-11-2018, 12:41 PM
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Originally Posted by MalibuScott View Post
If Mercedes-Benz Financial Services defaults on one of these bonds, and the bondholder has a lease or is financing his car with MBFS, can the bondholder offset his bond loss with the obligation he has to MBFS?

Asking for a friend.
This is not to be construed as financial advice. Short answer is no. The "Note" is an unsecured investment vehicle for a promise to pay like a bond. The red flag is that they are sending this to "qualified investors" which means investor's liquidity is north of $1mm which takes away any argument that you were duped thinking there is some FDIC or other type of cover. The "leasee" still owes the contract obligation to make payments separate and apart from investments they may make with the company. The investment in the note is investment "risk" and as a qualified investor you should know that. In the event of a default. I suppose you could argue an offset the difficulty is getting someone from the Company that has authority to make that decision. I could go on and on but this is a car forum.
Several years ago I bought FoMoCo credit bonds with a yield of 9%. Nice at the time, until the auto market tanked. I couldn't sell the bonds even at a deep discount and had to wait it out till maturity. Fortunately Alan Mulally (genius) saved Ford with some great financial maneuvering and I got paid.
In the end some people think 2.5% is a good deal. Caveat Emptor!
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