Owning a Mercedes-Benz car is definitely a matter of pride. And, with the all the advanced technology, gadgets, and luxurious features, it firmly holds onto its position of being the ultimate in luxury and automobile technology. In addition to being at the forefront of style and luxury, it also keeps its customers' needs front and center, and aims to serve their best interests at all times. Hence, Mercedes-Benz India offers a number of financing options to their loyal patrons to ease their purchase of their dream vehicle.

Buyers can use either direct financing or dealership financing. In direct financing, the loan is obtained directly from a finance company, bank, or credit union. In cases of direct lending, the buyer and vehicle dealership enter into a contract, wherein the buyer uses the loan proceeds from the direct lender to pay the dealership for the vehicle.

Apart from direct financing, the most common method of financing is dealership financing. In this arrangement, the buyer and dealership enter into a contract where the buyer agrees to pay the amount financed, plus an agreed-upon finance charge, over a period of time.

Opting for dealership financing offers the vehicle buyer following benefits.

Convenience: Buyers get their vehicle and financing from one place, which makes it more convenient than the direct lending option.

Multiple relationships: Dealerships have relationship with different banks and finance companies, which means they can offer a range of financing options to the buyers. The more option a buyer has, the more convenient it becomes for them to afford their desired car.

Special programs: Buyers opting for dealership finance stand to benefit from the manufacture-sponsored, low-rate programs from time to time.

How it works?

Dealerships usually have a Finance and Insurance Department, which helps them provide a one-stop shopping facility for customers' financing needs. They ask for a credit application from the buyers, and submit it to one or more potential assignees like a bank, finance company, or a credit union. They will then evaluate the credit application using automated techniques which weighs in factors like credit history, length of employment, and income and expenses.

Each finance company decides, based on the various factors, whether it is willing to buy the contract, and if applicable offers the dealership a wholesale rate, known as the “buy rate” at which it will buy the contract. The dealer may also be able to offer reduced finance rates or cash-back on certain models. The buyer can inquire if the model they are interested in has any special financing offers or rebates that they can avail of.

Even when it comes to financing, buyers should expect nothing less than a stellar service from one of the most reputed automobile brands.

Benchmark Cars is one of the fastest growing authorized dealerships for Mercedes-Benz cars in India. As a leading dealership of Mercedes-Benz in India, they offer easy financing options for their customers and are also ever ready to take care of any automotive needs they may have.