Frequently asked questions about Mercedes-Benz Financial Services UK.

Mercedes-Benz Financial Services UK Ltd gives you the freedom and flexibility to drive away in the Mercedes-Benz of your choosing, in a way that fits around your lifestyle. You’ll benefit from a range of both purchase and lease products from Agility (Personal Contract Plan) and Hire Purchase to Contract Hire and Operating leases, so you can find the solution that’s right for you.

 

Your preferred Showroom will also be on hand to help provide expert advice on our range of financial products and the features, benefits and limitations of each, find your local Showroom here. Throughout your journey with Mercedes-Benz Financial Services UK Ltd you’ll be provided with tailored customer service via phone, email and web, so you’re supported in the way that suits you best. If at any point in your journey you need extra help managing your agreement, Mercedes-Benz Financial Services UK Ltd have a dedicated sensitive case team here to help.

 

To apply for finance you’ll need to be 18 years or older and be a resident of the UK. Please note, you should only be applying for finance for yourself and not on behalf of another person.

 

Find out more information about the finance products here or use the Mercedes-Benz Financial Services UK Ltd Comparison table, and if there are any terms used that you’re unsure of, take a look at the Glossary. Everything’s been made easy to understand, with clear explanations and examples. If you have any further questions on choosing your next Mercedes-Benz, please get in touch with your local Showroom, you can find your nearest Showroom here.

Before deciding the best way to finance your car, you’ll need to assess your affordability, the finance product that suits you best and any limitations associated with it. It’s best to think about how much you can afford, how long you’d like to keep the car and the total number of miles you’ll be driving each year. Mercedes-Benz Financial Service UK Ltd recommends reading the product comparison table, showing the finance products offered to help you decide which option is best for you.

 

Whether you choose a lease product or a purchase product you’ll need to decide how long you’d like finance for. Mercedes-Benz Financial Services UK Ltd offer contract durations across our finance products from 24-48 months through the Online Showroom, or you can get an agreement of up to 60 months for Hire Purchase through your local Showroom. You can use the finance calculator on the Online Showroom to adjust the quote to suit you.

 

Whilst searching for your next Mercedes-Benz you can also use the Value My Car tool on the Online Showroom to get an indicative valuation for your current vehicle. This can be added to your finance quote and possibly go towards your deposit. Please note the valuation is indicative of the price your current vehicle may be worth, along with the information you have provided in your finance application. If you wish to sell your vehicle your preferred Showroom will agree a final price, this can then be used as a deposit for your next Mercedes-Benz. Alternatively, if you choose a lease product the equity from your current car can be put towards your advance rental.

 

If you'd like to continue with a full finance application, please send an enquiry to your preferred Showroom. They’ll contact you within 48 hours and help you to complete your application.

 

Find out more information about the finance products here or use the Mercedes-Benz Financial Services UK Ltd Comparison table, and if there are any terms used that you’re unsure of, take a look at the Glossary. Everything’s been made easy to understand, with clear explanations and examples. If you have any further questions on choosing your next Mercedes-Benz, please get in touch with your local Showroom, you can find your nearest Showroom here.

After you’ve chosen your vehicle and preferred finance product, your Mercedes-Benz Showroom will send you a secure link to the MyFinance portal. You can complete your finance application online at a time that suits you.

The MyFinance portal guides you through each step, from reviewing your personalised finance quote to entering the information we need to assess your affordability. In some cases, we may also ask you to complete Open Banking, a secure way to support our affordability checks by confirming your main income.

Once you’ve submitted your application, we’ll carry out the necessary credit and affordability checks. We’ll keep you updated on the outcome, and if your application is approved, you’ll receive your finance agreement to review and sign, with support from your Showroom if needed.

1. Eligibility check (before you apply)
Once you have chosen your vehicle on the Online Showroom, you’ll complete a quick eligibility check.

• This is a soft credit check, that won’t affect your credit score, or appear on your credit file.

2. Initial indication

We’ll let you know whether you’re likely to be approved, based on the above. This is not a guaranteed decision but may help you decide if you’d like to continue your application.

3. Full application checks
Once you complete your full application in MyFinance, we’ll carry out:

• A hard credit check (visible on your credit file for up to 12 months).
• An affordability assessment.
  
• Open Banking (if needed) – a secure way to support our affordability checks by confirming your main income.
  

4. Additional requirements (if applicable)
If you’re applying as a Limited Company that’s been trading for less than three years, we’ll need a Director’s Guarantee.

5. Your decision

• If approved, you’ll receive your finance agreement to sign.
  
• If declined, your Showroom will be able to explain the decision and discuss your options with you.
  

You can withdraw from a finance application at any point before signing the agreement, but please note, if your application has been processed this will leave a credit search footprint on your credit file showing which organisation conducted the search, the type of search and date.

 

If you’ve signed your agreement, but no longer want to continue with the finance, please refer to your agreement for exact information on if you have the right to withdraw. Please note this is a withdrawal from the finance and not from the purchase of the vehicle – so you will have to repay the finance by other means. You’ll need to withdraw within 14 days after the start date confirmed to you in your agreement. If you don’t withdraw from the agreement within the 14-day period the agreement remains binding.

 

Please note, if you decide on a Hire Purchase or Agility agreement and want to withdraw, you’ll be liable to repay the amount of credit to us within 30 days. When payment is made to us in full and within the time period, you’ll take ownership of the vehicle. If this is not paid within the 30 days we have the right to recover the sums due and/or the vehicle.

 

Find out more information about the finance products available for your Mercedes-Benz using the Comparison table here, and if there are any terms we use that you’re unsure of, take a look at the Glossary. Everything’s been made easy to understand with clear explanations and examples. If you have any further questions on choosing your next Mercedes-Benz, please get in touch with your local Showroom, you can find your nearest Showroom here.

Open Banking is a secure service that allows you to share your bank account information safely, quickly and easily with trusted companies, like us, through your bank or building society.

Open Banking is completely free of charge and won’t leave a footprint on your credit file.

As a responsible lender, regulated by the Financial Conduct Authority (FCA), we use Open Banking to check that you can make the monthly payments now and throughout your agreement.

By securely sharing your financial data, we’re able to see that you can maintain the monthly payments throughout your agreement and verify the details provided in your application. The FCA requires us to make these checks for all customers, including those who have financed with us before.

Yes. Open Banking is a secure and encrypted service provided by your bank or building society.

This process is supported through Consents.online, a trusted provider regulated by the Financial Conduct Authority (FCA), which means they meet strict security and data protection standards. We’ll have read-only access to the last six months’ worth of bank statement data from the accounts you choose.