topic Re: Mercedes Financial in Auto Loans

Mercedes Financial

Anonymous — Tue, 09 Jan 2018 04:57:44 GMT

Does anyone know how tough Mercedes financial is? I am looking to buy a $38,000 benz. I can put 10K down. I am in the process of rebuilding my credit. My FAKO is 640

Re: Mercedes Financial

lexus829 — Tue, 09 Jan 2018 06:42:50 GMT

With your score and DP you should be ok.. you gonna be leasing? or purchasing? You said youre rebuilding? from bk? hopefully no repo? normally MB and Porsche are pretty tough unless you're an existing customer.

Re: Mercedes Financial

Anonymous — Tue, 09 Jan 2018 07:14:03 GMT

Thanks for the reply Lexus!

I want to purchase an MB sprinter cargo van for my small business (only MBFS will do loans on those apparently, since it is a commercial vehicle)

I dinged up my credit in 2011-2013 ... lots of 30 day late pays on my mortgage and a car loan (which is paid and closed) I do have another paid auto loan that was never late on my CR.

Mortgage has been on time since 11/2013. I have 2 credit cards (small limits) that are current and never late as well.

I think the old late pays are supressing my score. Also, my file is pretty thin otherwise.Only current accounts are the mortgage and 2 credit cards.

Re: Mercedes Financial

marty56 — Thu, 11 Jan 2018 10:28:19 GMT

Also check with a local CU.

Re: Mercedes Financial

Anonymous — Thu, 11 Jan 2018 16:54:04 GMT

Just because it's a commerical vehicle doesn't mean that MBFS is the only lender that can finance it, I think you are getting some bad information from the dealer on that subject. Many Auto lender's have a commercial lending side meant for commerical vehicles/businesses, etc. Ally, US Bank, Well's Fargo, and many other lender's all have commercial lending on these types of vehicles.