Is the Approval Rate of Mercedes-Benz Finance High?
2 Answers
The approval rate of Mercedes-Benz Finance is relatively high. Here are the detailed explanations: Approval aspects: First, it depends on which level of car you are purchasing, such as C-Class or S-Class; then, it depends on whether you choose ordinary financial loans or the 'Enjoy First, Choose Later' loan method; based on the down payment amount and the length of the repayment period. Required materials: Mercedes-Benz Auto Finance Personal Auto Consumption Loan Application Form; copy of ID card (married individuals need to provide copies of both spouses' ID cards, and both sides should be copied); income proof documents (bank account details, income certificate issued by the company, pay slips, or other documents that can prove personal income); proof of residence (homeowners need to provide copies of the property certificate and land use certificate; renters need to provide a valid rental contract).
When I first bought my Mercedes, I went through Mercedes-Benz Financial Services, and the approval process was quite user-friendly. As long as your credit history is good and you have sufficient income proof, the approval rate can reach 70-80%. They mainly look at your repayment ability—your monthly income should be at least twice the monthly installment, which is crucial. I recommend preparing six months of bank statements and work proof in advance, and try to make a down payment of at least 30%. Make sure to fill out the application materials completely without missing any information, so you can get the results in about three days. Currently, the financial policies are quite flexible, with repayment periods extending up to five years, and the interest rates are even more favorable than regular bank auto loans.
