Frequently Asked Questions

Know your rights

Personal Information


Personal Information

Personal Information


Personal Information

    • How do I obtain a copy of the personal information you hold on me?

      How do I obtain a copy of the personal information you hold on me?

      Under the Data Protection legislation you are allowed to request a copy of all the information we hold on you. For more information on your rights under the Data Protection legislation please click on the Privacy Policy link at the bottom of the page.

      For more information on your rights under the Data Protection legislation please visit the link below:


      Information Commissioner’s Office website

    Types of Agreement


    Types of Agreement

    Types of Agreement


    Types of Agreement

      • What is a regulated agreement?

        What is a regulated agreement?

        A regulated agreement is an agreement which is covered by the Consumer Credit Act which gives you some important rights. It will only be regulated if the borrower is an Individual, Sole Trader or a Partnership of up to 3.

      • What is an unregulated agreement?

        What is an unregulated agreement?

        An unregulated agreement will not be covered by the Consumer Credit Act. This will apply to a limited company, PLC, Partnerships of 4 or more, a Local Authority, or a Charity.

      European Consumer Credit Directive


      European Consumer Credit Directive

      European Consumer Credit Directive


      European Consumer Credit Directive

        • What is the European Consumer Credit Directive?

          What is the European Consumer Credit Directive?

          The European Consumer Credit Directive (ECCD) – which may also be referred to as the Consumer Credit Directive (CCD) – was brought in across Europe to establish common consumer credit practices. From a UK perspective, the Consumer Credit Act was amended as a result of the Directive.

          Effective from the 1st February 2011, the ECCD will apply to the following:

          • Customers who purchase vehicles through Hire Purchase and Agility, who are either
          • Private Individuals borrowing up to and including £60,260, or
          • Small Businesses (Sole Traders and Partnerships of 3 or less) borrowing up to and including £25,000 where a business user exemption has been signed.

          For finance agreements above this limit and regulated leases, the existing Consumer Credit Act arrangements continue to apply unchanged.

        Voluntary Termination


        Voluntary Termination

        Voluntary Termination


        Voluntary Termination

          • How do I voluntarily terminate my agreement?

            How do I voluntarily terminate my agreement?

            If you have a Regulated Agility (Personal Contract Plan) or Hire Purchase agreement with Mercedes-Benz Finance, you have a legal right (under the Consumer Credit Act) to voluntarily terminate your agreement. You must hand back the vehicle having paid at least 50% of the total amount due on your agreement (including the deposit, amount borrowed, interest and all fees) and in addition any arrears, excess mileage and damage charges.

            Click here to view our Vehicle Return Standards

            If you are not over the 50% mark you will be required to make a shortfall payment, which we can calculate for you.

            You are not permitted to use the vehicle once you have written to us indicating that you wish to voluntarily terminate your agreement. You must ensure the vehicle is insured until it is collected.

            On collection of your vehicle, you must also hand back your keys (including spare keys), full service history and V5 registration document; if not this could result in additional charges.

            Once your agreement ends your credit file will be updated to show a voluntary termination. This information will remain on your credit file for up to 6 years, which can be viewed by other lenders also.

            If you would like to discuss this in more detail, please contact Customer Services.

          MBFS


          Mercedes-Benz Financial Services

          MBFS


          Mercedes-Benz Financial Services

            • Who regulates Mercedes-Benz Financial Services?

              Who regulates Mercedes-Benz Financial Services?

              For consumer credit activity, Mercedes-Benz Financial Services is authorised and regulated by the Financial Conduct Authority (FCA).

              The Financial Conduct Authority is the United Kingdom 's regulator of the financial services market and promotes innovation and healthy competition whilst ensuring companies keep to the rules and maintain high conduct standards. They want you to understand the financial products and services you use and for us to be clear and fair in our dealings with you.

              The Financial Conduct Authority's address is 12 Endeavour Square, London, E20 1JN, or you can visit their website which is www.fca.org.uk

              If you have any other queries, please contact our Customer Services team.

            Withdrawal


            Withdrawal

            Withdrawal


            Withdrawal

              • Can I withdraw from my Finance Agreement?

                Can I withdraw from my Finance Agreement?

                As of 1 February 2011, the European Consumer Credit Directive (ECCD) provides customers who are within the ECCD parameters, the right to withdraw from their Finance Agreement by paying the amount financed. If you would like to withdraw from your Finance Agreement, please ensure you contact us within 14 days of signing the Finance Agreement (excluding the date the agreement was signed).

                Contact Customer Services.

              • If I withdraw from my agreement, what will I need to pay?

                If I withdraw from my agreement, what will I need to pay?

                You will be asked to pay the balance financed which you can do either by bank transfer or Debit Card. You need to make this payment within 30 days of notifying us. We reserve the right to charge interest on a daily rate until such time as full settlement has been received.

                If you are thinking of withdrawing from your Finance Agreement, please contact our Customer Services team.

              • If I use my right to withdraw am I able to hand my vehicle back to the Retailer or Mercedes-Benz Finance?

                If I use my right to withdraw am I able to hand my vehicle back to the Retailer or Mercedes-Benz Finance?

                Unfortunately not, you must repay the full amount borrowed within 30 days and the vehicle remains with you.

                If you are thinking of withdrawing from you Finance Agreement, please contact Customer Services.

              • Can I change my mind after I have given notice to withdraw?

                Can I change my mind after I have given notice to withdraw?

                Unfortunately, once notification has been received either verbally or written we are unable to reverse the transaction. Please make sure that if you do want to withdraw from your Finance Agreement that you have funds in place to do so.

                If you are thinking of withdrawing from your Finance Agreement, please contact our Customer Services team.

              • If I withdraw from my Finance Agreement, will it affect my future credit applications?

                If I withdraw from my Finance Agreement, will it affect my future credit applications?

                Once you withdraw we will make arrangements to ensure that no footprint pertaining to a withdrawal appears on your credit file.

                If you are thinking of withdrawing from your Finance Agreement, please contact our Customer Services.

              • Are there any penalties for withdrawal?

                Are there any penalties for withdrawal?

                We may charge an additional 30 days interest in accordance with the ECCD legislation.

                If you are thinking of withdrawing from your Finance Agreement, please contact our Customer Services team.

              Partial settlements


              Partial Settlements

              Partial settlements


              Partial Settlements

                • Is is possible to make a partial settlement on my Finance Agreement?

                  Is is possible to make a partial settlement on my Finance Agreement?

                  All agreements which are covered by the European Consumer Credit Directive have the option of partially settling their account, which is when you can pay a large one off payment to reduce the amount of finance which is outstanding. Throughout the life of your agreement you are able to partially settle as many times as you would like.

                  To discuss the option of a partial settlement please contact our Customer Services team.

                • What are the payment methods for partial settlement?

                  What are the payment methods for partial settlement?

                  We can only accept partial settlement payments by Debit Card.

                  If you wish to partially settle your Finance Agreement, please contact our Customer Services team.

                • Are there any penalties for partial settlement?

                  Are there any penalties for partial settlement?

                  There are no penalties if you would like to partially settle your agreement.

                  To discuss the option of a partial settlement please contact our Customer Services team.

                Statements


                Statements

                Statements


                Statements

                  • Should I receive an annual statement?

                    Should I receive an annual statement?

                    You will receive your annual statement within 30 days of your contract anniversary date if you have a regulated agreement. For unregulated agreements, you can contact Customer Services and request the payment history of your account.

                    If you have any questions relating to your annual statement please contact Customer Services.

                  • Will I receive an Annual VAT invoice?

                    Will I receive an Annual VAT invoice?

                    Only three of our finance products require an Annual VAT invoice. If you have a Contract Hire, Operating Lease or Finance Lease Agreement you will receive an annual VAT Invoice, this will show your periodic payments covering a 12 month time period in advance.

                  • Can I get a statement which shows the interest on my finance?

                    Can I get a statement which shows the interest on my finance?

                    You are able to get this information by requesting an Amortisation Statement, as set out in the European Consumer Credit Directive (ECCD). This will give a view of the capital and interest payable on your agreement going forwards.

                    Any customer wishing to receive an Amortisation Statement should contact our Customer Services team.