I financed my MB Sprinter through MB finance and will be trading it in for my new GL550.

I've secured penfed financing already at a better rate than MB has available. My FICO is in the high 700s.

Are there any loyalty offers that MB finance does for existing customers?

I know they do stuff on leases but what about purchases?

 

Hi.

What is the intereset rate at penfed ?

 

2.34%

 

When you purchase - there are no any reason to go with MB financial. I'm currently leasing my car and must go with MB financial so they will let me return my car earlier, butother than this - I see many more better options to finance a car.

 

so if the lease is through MB financial you can return the car sooner than the maturity date? if so, how much sooner? I too am leasing through MB financial but they didn't mention anything like that.
Thanks,

 

Not currently. Ask the finance person if he/she can beat PenFed's rate.

 

I'm returning my lease 4 months early for another mb

 

I would also agree. You really do not know, until you ask the right person/s in the organization/s. In many ways, it is like getting multiple bids.

 

Currently, as they call it, loyalty program lets you return your car up to 4 months earlier than your lease maturity date. Your next car should be new ( not used) and financed thru MB financial. After 2 weeks - you can pay it off or refinance it with better rate. I think MB rate is about 3.9 right now.

 

I got .5% loyalty discount off the 1.9% here in Ontario Canada .

 

Plan on taking delivery tomorrow. Dealership thinks they can match the rate with MB finance.

We'll see.

 

Dealership is MB Finance. All others are optional.

 

When the dealership matches or beats your bank rate, just remember that it's not always through MB Finance, if that really matters to you. This has happened to me once. MBrace was offering a 3 year complimentary service at the time if financed through MB Finance. When I got my first bill, my loan was through Wellsfargo. Needless to say, I was livid! I was so upset, I just paid off the loan. Just my .02.

 

Mercedes makes good cars and has a generally positive corporate reputation. However in buying or leasing a Mercedes beware Mercedes Benz Financial Services (MBF). I will spare you my tale of woe with this dubious organization. What I will do is to urge you to practice caution.



First, closely read the lease or finance agreement. You will find that MBF grants themselves extraordinary powers of collection and repossession. The presumption is they are always in the right and you always in the wrong. The agreements also require you to waive your basic consumer and legal rights. You might ask what sort of organization would wish to treat their customers in this manner. Therefore, do the research.



Research other customer’s experiences. The primary review site for credit granters is Credit Karma (https://www.creditkarma.com/reviews/...benz-financial). A full 80% of reviewers give MBF the lowest possible rating. The titles of the first two pages of reviews tell all:



1. Worst financial service company,

2. Horrible Customer Service,

3. No problems with Mercedes-Benz Financial,

4. Terrible service,

5. Avoid at all costs,

6. MB Financial is arrogant,

7. Arrogant and rude service,

8. WORST SERVICE EVER RECEIVED,

9. Just Greedy,

10. Fed up,

11. Unethical organization,

12. Unethical,

13. No more.



There is always a chance that you will be the one in thirteen that is not abused, but your odds are not good.



If you still are not convinced read a recent Wisconsin Supreme Court decision against MBF (http://www.wicourts.gov/sc/opinion/D...df&seqNo=67711) You will quickly understand why MBF so wants you waive your rights to sue and why you really need those rights.



Know your alternatives. There are other, reputable, finance options. There are also the BMW and Audi dealerships just down the street.

 

My dealer has a variety of banking options. I have typically known what rates I could get through my credit union, and maybe one bank, then let them try to beat it. I encourage them to beat my credit union, and they've usually been able to do that if even a little bit. I have good credit.

 

also check with your credit union and see if they offer a discount for direct deposit/auto payment. NFCU grants a quarter percent for automatic payment.

 

Guy with 1 post, tells us to beware. I think we need to be beware of this guy instead.

 

Leasing programs can be from 1 month to 8 months, maybe 9 months, if you are super lucky, to get you out of your lease early.

The most I've heard was 6 months in the recent years from MB financial.

Dealers could also say that the program ends in a few days, blah blah blah, but they are just really giving you their internal "dealership" (non MBUSA) discount disguised as a early lease program. The MBUSA gives dealer an incentive, the dealer may or maybe not need to disclose such deals to you. IF they say, the incentive will end soon, so act fast, it is a sense of urgency to make you think you need to buy/lease the car ASAP, a tactical approach.

Just think about it. If you are business owner, and I'm willing to bet there is a good majority of us GL drivers are, your cost of your product is pretty much very constant, and you know that because you are the person buying (goods), or providing (service). To entice customers, you create promotions and want people to take advantage of that. Depending on how crappy or good your business is doing at the time of year, your pricing will change, and create excuses, promotions around holidays, etc...... to justify your discount without hurting the value of your brand to the best of your abilities.

Car buying is the same crap. Dealer can sell it to you if you can make them discount it pretty much any time of the year. But some months, are just crappier than others, so it all depends on your tactics and luck when dealing with them.

 

+1

 

Well... MBFS often offers "customer retention incentives" for existing MBFS lease customers - which all makes sense - to offer best opportunity to retain existing MBFS customers before they shop/convert to other brands. So you know - these MBFS customer retention incentives are by model on the current lease - and are updated each month - so "yes" dealers are appropriate in expressing these as limited period - and frankly each month's programs are updated 3rd working day of that month. These customer retention incentives literally MBFS wipe off X-number of month payments for that model - and lease end fee's are waived moving forward to another MBFS contract. Depending on model - depending on current month's program - can be from 1-to-6 months, again depending on model of current lease - again this is MBFS money - nothing to do with dealer monies.

Yes - dealer can choose to add contribution from dealer's monies - however please understand final disposition of that lease return - returning dealer has 1st option - at a fixed price - and whether or not they have made dealer contribution to the new deal does not lower the fixed acquisition price on the returned leased vehicle.

On early lease return - best to use MBFS incentives - and dealer monies are best used to lower new lease payments. $1000 dealer monies - if used to elimate one $1000 existing lease payment - gives you bigger "bang" if used to lower payments on new 36 month lease.

MBFS overall is the only source for competitive lease payments on a new Mercedes - and overall as a financial resource are as effective a financial agency as alost all others.

PenFed has a great program for purchase - as does USAA - since respective fleet discount is coupled with low rates - on purchase either dealer/MBFS can or cannot match or they cannot - when push comes to shove your dealer will go forward with you on whichever you see is best for you.

 

When I leased my 2012 GL450, my SA at that time told me to do 48 months instead of 36 months because I would start receiving early trade in letters starting month 36. Exactly on the 36th month, I got a letter stating I can move to current year GL450 with same down payment as my 2012, and similar options but my monthly price would go up by $60 bucks or so. On month 38, I took my 2012 GL450 in for early trade in and my dealership paid $4200+ remaining balance on my 2012 GL. They had a special where they were also giving away an iPad, and 2 year free maintenance. They ran out of iPads, so they gave me 3 year free maintenance. My monthly payment did go up slightly, but the free maintenance almost wipes out the difference. This time around I made my term 36 months. Hope to have a new 2018 GL in 2 years instead of 3.