Mercedes Benz Finance Review

Watch this item
2.5 stars
Average rating for this product is: 2.5 out of 5

From 1 rating and 1 review

Thumb down 0% of users recommend this product

Rate it Now:

Click on the stars above to rate this product:

Tweet This Item


Danc's Review of Mercedes Benz Finance

30th Jun 2007

Overall Rating

0 stars
  • Value for money
    0 stars
  • Customer service
    3.5 stars
Good Points

Easy as the car dealer arranges it.


Bad Points

1. High Interest rate
2. PCP is a not worth it
3. Dealers get a high commission so push customers into buying with Mercedes Benz Finance PCP.


General Comments

1. Typically the interest rates are 3 or 4 percent above what you can get from loan companies. Sometimes they have offers of loans at very low rates but whatever you do don't get them because although the rate maybe low they take the money out of the deposit you pay so in time the loan actually works out more expensive.

2. PCP is a not worth it because when you enter into a typical agreement for 3 years they overvalue the car at the beginning. The result is that in 3 years time when you come to sell the car all of the deposit you have put in has gone. The result is that you have no equity left in the car to roll over into the purchase of your next one. It is a very expensive way to buy a car.

3. Mercedes Benz dealers are pushed by the Finance people to sell their own loan/PCP products because they get a good commission.
My advice is arrange your loan first never enter into a PCP contract unless you are prepared to loose all your original deposit and don't listen to the Mercedes Benz dealers they are not independent.

Remember - all reviews on Review Centre express the reviewer's opinion, not necessarily ours.
If you disagree with a review then please let us know by writing a review of your own or adding a comment.

Tweet This Review

Danc's review has yet to be rated - Be the first!

How helpful did you find this review?


Members' Comments onDanc's Review

  • Big Kelly Rank: Lieutenant on 3rd Jul 2007

    Hi Danc, I totally agree with what you are saying however I don't think it is exclusive to Mercedes I believe most of the car dealers do this, as the same thing happened to me.

NameCredit RatingAPRTypical APRMin Loan AmountMax Loan AmountHome Owner  
Alliance & LeicesterGood7.90%7.90%£7,500.00£14,950.00No
Nationwide LoansBad7.60%7.60%£7,500.00£14,999.00No
Sainsbury's LoansGood7.90%7.90%£7,500.00£15,000.00No