Mercedesfinance

If anyone ever has any questions I am here to help answer them. I am not here to sell you anything, in fact I wont sell anything on here. But if you have any Mercedes Benz finance related questions I am here to help.

-Mercedes Finance Guy

PS... I just took delivery of my first Mercedes Benz! =) I am very happy!

Mbracer26

How long can one extend a lease? I have a PO number as well.

Mercedesfinance

Great first question! As long as you have an order on file with a dealership you can extend up to 3 months. However, be aware, you are not adding three months worth of miles. So any miledge over your initial contract agreement you will be responsible for the penalty.

I hope this helps.

HBerman

That was not my experience. My W213 order got delayed and the lease payments on my W212 were extended AND the mileage was increased for the months involved. Ultimately, I extended for 9 months due to the non-delivery of one car which got stuck at the port in Germany and needed to have an engine rebuild.

Srikanth G

Hi - qq since you work at MB finance. i work for corporation and through my employer im eligible for fleet discount (1500 in case of E).
i spoke to 4 dealers and they all said i cannot combine fleet with dealer incentives (like spring sale and dealer incentive is more than fleet). so whats the point of fleet. are they accurate when they said its not combinable.
just surprised how 4 different dealers across 3 different states say the same thing

konigstiger

“Fleet incentives cannot be used in conjunction with Dealer Employee Purchase Program (DEPP), Mercedes Vehicle Plan (MVP), Master Lease Program (MLP), Diplomat, European Delivery, Courtesy Vehicle Program (CVP), Special Demos, Competitor Conquest Program, other Fleet Programs (Executive Allowance Bonus (EAB) or Fleet Employee Program (FEP)), or non-U.S. Specification vehicles.”

https://www.mbusa.com/mercedes/fleet...am_information
1-866-628-7232, fleetoperations@mbusa.com

Mercedesfinance

One thing I have learned about MB is that they will bend most rules when the circumstances demand it. While the 3 month "rule" is there... There are always circumstances that will allow for exception. I'm glad to know that they took care of you!

Mercedesfinance

yes that is the case. Usually the fleet pricing is usually a better deal than most customer facing incentives. But it is nice that you have a choice to take the one that is better for you.

In the case of an E class most dealers should be at around at 8-10% discount plus any incentives. Just make sure that your pricing is in line with that!

I hope this helps!

bob2011

Kind of a long question, and would love if you could help me out!

Basically I'm 23 years old and just started to build my credit last year. I have a couple of credit cards and about a years worth of credit "history". I wanted to trade in my E class this year, but decided to hold off until next year so I can establish more credit history, so instead I bought a fiat and financed it so more history could be established. I plan to pay the fiat off in a year and a half so the loan will be off my credit, and want to finance a new W213. So my question is will a year and a half of car financing history be enough to finance a W213 at a ok rate, or should I hold off for longer than a year and a half?

My second question is, out of the 3 credit institutions, which one is used to determine rates, or is it all 3?

Sorry for the long post, but I would love to get some insight! Thanks!

Mercedesfinance

Hi there. Also a fabulous question! Thank you for asking it.

So I am going to work backwards on this one. MBFS (Mercedes-Benz Financial Services) uses Trans Union reports to determine credit acceptance. However other banks will use the other bureaus. So keep them all clean!

When a lender looks at someones credit for approval. They look at a many factors but I can keep it simple.
1. ADVANCE
2. DEBT LOAD
3. HISTORY
4. YOU (Ability to pay)
Almost in that order.
1) How much are you trying to borrow relative to the collateral. The more cash down or equity that you have in your new deal will greatly determine the risk level of the loan. i.e. if you are putting down 50% on your deal then if you fail to pay, the bank will win because of the equity position you have put them in. ON the other side, if you have a trade in that you are upside down in and are trying to finance 140% of the value of the car (invoice) then the bank will consider you to be far higher of a risk. Make sense?

2) Your own Debt load. Your "score" is mostly derived from your credit that you have available. If you are using more than 50% of your credit cards you are seen as a huge risk to the lenders. If your total outgoing payments are higher than 60% of your income then you are a huge risk to the lender. They will increase the rate to compensate.

3)History is very important. This is one thing that young people struggle most with. When it comes to an auto loan/lease the bank does not want to see anyone go from a Honda Civic loan to a Mercedes GT loan. In your case going from a FIAT to a P3 heads up 3d sound W213 E300 for 74000.00 might be a hard sale for the finance manager to make to MBFS. But, that being said.... I have done it. But it was usually done due to a provable job income increase or validation of liquidity of someones accounts. Cash down etc. Anything I could do to lower the risk in the banks eyes.

4) You... yep it all boils down to you. Your job, job type, who you are, if you are nice (Believe it or not this plays a huge part. I know personally that I have worked VERY VERY HARD for nice people. I will also admit that I have spent as little time as possible for ones that are totally rude or demanding) So be NICE!!! When you fill out your app, do it carefully. Take your time WRITE NEATLY. BE HONEST! Remember the finance guy needs to paint a good picture of you to the lender. ASK TO SPEAK WITH HIM/HER PRIOR TO SUBMITTAL. Make sure you tell them about how long you have been doing what you are doing, even if it is with different companies. Be honest and thorough with anything that is bad. Trust me with MBFS a story will go a long way.

Which leads me to the last part.... MBFS... They are one of the most amazing captive lenders I have ever EVER WORKED WITH in 22 years of doing this they are the first bank that ABSOLUTELY does NOT use the credit score to determine the tier. They truly want to support the dealers and help them to get the approvals they need to sell cars. So that being said, the fact that you are trying to do the right thing will go a long way.
MBFS will want to see that you can pay for the new car. They will want to see that the payment does not exceed 12-15% of your monthly income. They will want to see that they have some equity in the deal. They will want to see that you have not been pursuing large amount of credit prior to getting your new car.

Here are my suggestions to increase your odds of approval.
Cash down
Mitigate any negative equity from your trade
LEASE LEASE LEASE (MBFS will almost always give higher tiers on leases)
Keep your nose clean... =) NO LATE PAYMENTS
keep it real.... DONT GO LOOKING TO PURCHASE AN E43 IF YOUR LAST CAR WAS A FIAT. =) If you are going to go E class then keep it around 50K or PUT UP THE CASH TO KEEP THE AMOUNT FINANCED/Total Adjusted Cap cost AROUND 50K.

Good luck!!!! I hope this helps!

If you have any other questions send me a message and I can give you my cell phone number to discuss!
MB Finance Guy!

bob2011

PM on the way!

RB15

Hey Mercedes finance guy!

are you aware of the issue of a strange engine noise coming exclusively from the new E400 coupe engines? I'm told Mercedes are working on a fix, mine has it.

Regards

Mercedesfinance

We don't have the E400 W213 here yet! I will let you know once we do!

RB15

ok thanks for the reply anyway!

DRobTheGreat

I'm actually considering purchasing an E43. I've talked to a few dealers, and apparently inventory with the P03 Package on the west coast is virtually empty. Given that i'm likely to be ordering the vehicle (perhaps even considering European delivery), is it fair to say that beyond a fleet discount price, i'm looking at little to no incentive given its rare form?

Also, would lease financing still be an option on ordering?
Thx

Wassaby

If this one works for you please pm. Thanks.


E43W4 $72,400
799 designo Diamond White Metallic $1,515
861 AMG Black Nappa Leather
L6I AMG Performance Steering Wheel $500
P03 P03 Premium 3 Package: Parking Pilot, NFC Wireless Charging, $7,300
RVR 20" AMG Multi-Spoke Wheels Black $750
R01 High-Performance Summer Tires
U17 Black Seat Belts
068 Wheel Locking Bolts $150
070 Chrome Door Handle Inserts $100
15A LED Logo Projectors $200
401 Heated and Ventilated Front Seats $450
413 Power Tilt / Sliding Panorama Sunroof $1,090
51U Black Headliner
521 521 AMG Night Package: High-Gloss Black: Front Splitter, Front Apron $650
736 Natural Grain Black Ash Wood Trim
773 773 AMG Exterior Carbon Fiber Package: Carbon Fiber: Mirror Covers, $1,950
811 Burmester® High-End 3D Surround Sound System $4,550

SUBTOTAL $91,605
DESTINATION & DELIVERY $925
TOTAL $92,530

BeoBenz

Thank you for your offer to answrer finance related questions. I am awaiting the arrival of an E400 coupe. The delivery date will be more than 60 days past the turn in of a prior Mercedes lease, perhaps by a month. Is there any ability to extend the 60 day period in which leasing a new Mercedes will waive the turn in fee for the prior lease?

Mercedesfinance

Popular question. As long as you have a Valid PO number you can extend...

BeoBenz

Thank you!

BeoBenz

Spoke with Mercedes Financial. They told me, not possible unfortunatley.

Mercedesfinance

Call your dealer that you have the order placed with. They can assist you.

BeoBenz

Dealer told me they do not believe it is possible. But the would try.

Mercedesfinance

Send me a PM with your order number and the dealer you are buying your car from. I will see if I can help.

BlackjackM

Great to have you here, I've learned some new info already!

My question: When will full 2018 pricing for the E be released??

Mbracer26

Ive extended for the past 6 months and on going. Its very possible, done it with multiple cars now.