Understanding Mercedes-Benz financial services is a great place to start for first-time buyers. Learning about financing, leasing, and the jargon used when buying a vehicle is half the battle. Mercedes-Benz of Lynnwood can help you understand the ins and outs of financing a new car.
Apply Online
Apply online via our credit application to take advantage of the time-saving pre-approval process. Make sure you are prepared and have all the necessary documentation such as pay stubs, tax returns, length of employment, and personal information. This will ensure a smooth, quick, and efficient process.
Financing Terms and Interest Rates
When financing a vehicle, you can choose the length of the loan based on your budget. A new vehicle can be financed for a few years or several years. When budgeting for vehicle payments you will pay less in interest with a shorter term but your payments will most likely be higher. Even if you are offered a great interest rate, weigh the pros and cons of the term you choose. Make sure your monthly payments are manageable.
Insurance Requirements
Familiarize yourself with the insurance requirements when you finance a car. Most loans for new vehicles require you to have full coverage. Unless you are paying the full price in cash, which would be unusual, you will have to obtain a policy that covers everything including unforeseen circumstances. If you are making a cash purchase, you will be required to carry liability insurance only.
Know Your Statement and Auto-Pay Options
When you finance a new Mercedes-Benz, you can choose a paper statement or go paperless to save unnecessary paper waste. You can also choose the auto-pay option which will automatically deduct your monthly payment from your bank account.
Learn More About Mercedes-Benz Financial Services in Lynnwood, WA
To learn more about available financial services, visit our Lynnwood, WA Mercedes-Benz dealership. Explore Mercedes-Benz ownership near Seattle today!
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