Mercedes Credit Card (2024)

FAQs

Do Mercedes-Benz have a credit card? ›

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The Mercedes-Benz Credit Card isn't just a card; it's your key to a realm of unmatched privileges.

While Mercedes-Benz Financial Services doesn't specify on its website what credit scores are needed to qualify for financing, the company does note that not everyone will qualify for its special financing offers. You typically need excellent credit to qualify for its lowest starting APRs.

Know Your Credit

What credit does Mercedes-Benz use? Generally, Mercedes-Benz Financial Services determines loan eligibility by checking FICO® Auto Score 9, from Experian.

Typically, leases aren't approved with credit scores lower than 620. But don't be discouraged! Check out how to improve your credit score. Then, talk with our MB financial department to see if we have lease options available for you.

No responsible lender can say for sure that Mercedes finance is easy to get. Everyone is different, and so is their eligibility for car finance. This is because there are lots of factors that affect whether you will be approved. These include credit history, income, and affordability.

You don't want to drain your savings and then end up needing that money for an emergency. Experts recommend that you put at least 20% down for a luxury model, but that isn't a hard and fast rule.

A Tier 1 credit score represents the highest level of creditworthiness. While different lenders might have slight variations in their criteria, a Tier 1 credit score generally falls within the range of 800 to 850 on the FICO scale.

FICO 9 is an updated FICO credit scoring model that was introduced to lenders in 2014 and consumers in 2016. Key changes in FICO 9 center on how collection accounts, paid and unpaid, factor into your credit score calculations.

Still, you typically need a good credit score of 661 or higher to qualify for an auto loan. About 69% of retail vehicle financing is for borrowers with credit scores of 661 or higher, according to Experian. Meanwhile, low-credit borrowers with scores of 600 or lower accounted for only 14% of auto loans.

2024 Mercedes-Benz C-Class

$598/mo est. $5,598 total due at lease signing includes down payment, first month payment, and $0 security deposit.

Can a 650 credit score get me a car? ›

Getting a car loan is possible if you have a 650 credit score. Although the loan terms may not be ideal, and you'll end up paying more for the car than someone with a lower credit score, you're still eligible for a loan.

A 750 credit score is considered excellent and should help you secure a competitive interest rate on your car loan. Regarding car loans, shopping around and comparing offers from different lenders is essential. Don't just go with the first offer you receive, even if it seems like a good deal.

With around 2,000 employees, Mercedes-Benz Bank supports the sales of Mercedes-Benz vehicles and provides financial and mobility services such as financing, leasing, rentals or subscription models to about one million customers. In direct banking, Mercedes-Benz Bank offers fixed-rate accounts and money market accounts.

Hire Purchase (HP)

Hire Purchase is another straightforward type of Mercedes car finance options that's easy to understand. When you take out an HP agreement, you pay a deposit upfront, followed by fixed monthly payments over an agreed term (usually 1 - 5 years).

We're here to help. Mercedes-Benz Financial Services provides finance, lease and insurance services for the dealers and customers of Mercedes-Benz cars and vans.