The car loan from Bank offers several alternatives to finance a new car. Customers can choose between the Megaplus, final installment and standard financing options, which can be delimited from each other, especially in terms of repayment. Added to this are current financing campaigns for certain vehicle models, which differ from one another, above all with regard to the effective interest rate. The Stuttgart based Bank is one of the leading automotive banks in Germany and a subsidiary of Daimler Financial Services.
This is the classic version in which the car loan of the Bank can be applied for. The repayment takes place here in constant monthly installments at comparatively favorable conditions. However, these are associated with retention of title, as is usually the case with car loans. Advantages of this variant are to be found above all in the clear calculation bases by the always same rate height and the interest rate bound over the entire duration.
The interest rate is subject to strong fluctuations in the car loan of Bank, which in turn are dependent on the selected vehicle model. These are also linked to specific installment payments, which limits flexibility in financing. A comparison of the different interest rates can be made directly on the side of Bank.
This car loan from Bank with its options at the end of the term offers an extended degree of flexibility. Customers have the choice of keeping, selling or returning their vehicle to the dealership. If a customer wants to keep the vehicle, simply the final installment of the car loan is paid. However, this can also be gradually paid off with the help of follow-up financing. When selling the vehicle, the proceeds are used to settle the final installment of the car loan. If the financed vehicle is to be returned to the dealer, the customer will receive the guaranteed residual value in the amount of the agreed final installment. An additional agreement with the respective authorized dealer is required for this.
Final rate financing
The final installment financing for bank car loans is especially recommended for those customers who prefer low running costs and prefer to pay a higher final installment. This can prove to be advantageous, for example, if the balance is to be repaid from the expiration of a life insurance. Thus, the customer is granted a greater financial leeway during the term. However, it should be added that no residual debt insurance can be applied for with this offer.
Installment insurance and full service package
In addition to the Megaplus and Standard financing, installment insurance can be arranged to cover installment payments against future income losses. These losses can result from unemployment, disability, accidents and illnesses. Even in the death of the insured, the credit insurance for the credit. As a result, the borrower will of course incur further costs whose relationship to the benefits requires careful consideration. In addition, benefits for unemployment, invalidity and death of the insured person vary, which should be taken into account in the planning.
The full service package, which can be applied for the car loan of Bank, insures maintenance and repair costs. This offers the customer several advantages: A vehicle that is always optimally maintained, a constant overview of all vehicle costs incurred and easy handling via the service card.
The package includes all costs for maintenance and wear repairs as well as replacement parts and possible towing costs. The offer, depending on the vehicle and its intended use, is created individually and added to the current financing costs in the form of a fixed monthly installment. It applies throughout Europe (EU and Switzerland) and can be completed in this room at all Mercedes Benz contract partners.