Presumably, many people buy cars through financial loans, so some people think that it is cost-effective to buy a car through a loan. There are also people who think that a loan to buy a car is more expensive than the full amount. Each has its own saying.
Let me start by saying that if you have the ability to pay the full amount, don't take out a loan. If you want to buy a car that is particularly expensive, and you have idle funds for financial management, and the income of financial management is higher than the income of loan interest, then do not pay the full amount of the loan.
As a luxury car brand like Mercedes-Benz, many people buy a car with a loan, not a full payment. Because Mercedes is particularly expensive. But Mercedes-Benz's financial policies have also been criticized.
On February 10, the WeChat public account of the China Banking and Insurance Regulatory Commission announced the Circular of the Consumer Rights and Interests Protection Bureau of the China Banking and Insurance Regulatory Commission on the Infringement of the Legitimate Rights and Interests of Consumers by Mercedes-Benz Auto Finance Co., Ltd.
In this "Circular", four major problems existing in Mercedes-Benz Finance are clearly pointed out:
1. The promotional materials do not clearly state the provider of the loan product
2. The information disclosure of service price information does not meet the requirements
3. The standard terms and conditions related to the authorized use of consumer information do not follow the principles of legality, legitimacy and necessity
4. The implementation of the review of consumer rights and interests protection is not in place
In fact, this is not the first time that Mercedes-Benz Finance has entered the public eye. In 2019, in the much-publicized Xi'an Mercedes-Benz female car owners' rights protection incident, the problem of 15,200 yuan of financial service fees was exposed.
As a result of this matter, Mercedes-Benz Finance was fined a total of 800,000 yuan by the Beijing Municipal Banking and Insurance Regulatory Bureau on September 2 due to "serious deficiencies in the management of outsourcing activities" and violating Article 46 of the Banking Supervision and Administration Law.
It was just that at that time, netizens were focusing on the product quality problem of Mercedes-Benz, but ignored the unreasonable financial service fee of 15,200 yuan.
In addition, on various car rights protection platforms, there are also many complaints about Mercedes-Benz financial service fees. So why is Mercedes-Benz Finance widely criticized?
First, financial services have become a considerable source of revenue for Mercedes-Benz. The data shows that at the end of the second quarter of 2021, Mercedes-Benz Financial's business network covers 270 major cities in China, with 682 dealers, which has covered the whole country. With the slowdown in automobile sales growth in recent years, the market has entered a mature period, and the economic benefits of the industry are significantly higher than the growth rate of production and sales, and finance is becoming one of the core sources of profits in the automotive industry.
Secondly, because the price of mercedes-benz cars themselves is relatively expensive, most consumers will choose to buy cars by means of financial loans. And because of the brand influence of Mercedes-Benz, as well as the irreplaceability in luxury car brands. The starting point of other brands' financial methods is to reduce the cost of buying a car for users and let users buy their own cars. But the influence of the Mercedes-Benz brand is very large, and you may not find other alternative models in a short period of time without buying Mercedes-Benz.
Third, because the car purchase process is a relatively complicated thing, the owner of the car is sometimes deceived when buying a car, but he cannot detect it in time. It was too late to realize it. Therefore, it can only be a complaint. And because I have already signed a contract and have already bought a car. Therefore, most of the results after the complaint are not resolved. And the relevant regulators can't stare at every car brand every day. Therefore, it also gives Mercedes-Benz Finance time to breathe.
So in a word, if you don't want to pick pits, and you want to buy Mercedes-Benz, then try to pay for it all.