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When it comes to the world of luxury cars, Mercedes-Benz is at the top of many drivers’ lists. With millions of sales worldwide every year, the iconic German brand has been producing some of the most stylish and high-performing vehicles since the early 1900s. In Canada, they even offer discounts for Canadian Armed Forces and RCMP members.
So, if you’re looking for best-in-class horsepower, comfort and safety, not to mention great customer service and vehicle selection, Mercedes-Benz might just be for you. After that, the only problem is the cost. Find out how to finance a Mercedes in 2022.
Since Mercedes-Benz is a luxury car manufacturer, their purchase prices are typically going to be higher than the average economy vehicle brand. Don’t worry, there are two ways you can obtain a payment plan for a Mercedes-Benz car through a dealership:
If you plan to buy your Mercedes, most dealerships can offer you financing, which is where you pay your car off over time with loan installments. Depending on your creditworthiness and where you apply, you may qualify for financing with a Mercedes dealership.
If you enjoy changing your car up every few years, you may prefer a Mercedes leasing plan, as it essentially allows you to rent a vehicle for an extended period. Plus, dealership leasing rates can be slightly lower. Term lengths, vehicle selection and delivery options vary by location.
Not getting dealership financing through Mercedes-Benz? Don’t worry, there are several other affordable ways to finance a Mercedes, including but not limited to:
The first thing you could look into is a car loan from one of the following lenders:
You can also apply for two types of personal loan to finance your Mercedes-Benz:
If you do research and compare sources, you may be able to find a used Mercedes for a cheaper price. On the other hand, the average new Mercedes-Benz costs anywhere from $37,000 to $229,000 depending on the model and dealership you finance it with.
Here are some examples to give you a better idea of what you could pay to finance a Mercedes (to simplify things, we’ll use a rate of 2.99% and payment plan of 84 months):
Model | Average Cost | Interest Rate | Monthly Payment | Total Cost |
A-Class Sedan | $37,800 | 2.99% | $499.29 | $41,940.56 |
GLB SUV | $46,500 | 2.99% | $614.21 | $51,593.55 |
C-Class Coupe | $51,900 | 2.99% | $685.54 | $57,585.06 |
E-Class Sedan | $64,900 | 2.99% | $857.25 | $72,009.06 |
GLE SUV | $69,900 | 2.99% | $923.29 | $77,556.75 |
E-Class Cabriolet | $88,900 | 2.99% | $1,174.26 | $98,637.99 |
GLE Coupe | $94,500 | 2.99% | $1,248.23 | $104,851.40 |
G-Class SUV | $154,900 | 2.99% | $2,046.04 | $171,867.54 |
Mercedes-AMG GT Roadster | $189,900 | 2.99% | $2,508.35 | $210,701.39 |
Maybach S-Class | $229,900 | 2.99% | $3,036.70 | $255,082.80 |
Mercedes-Benz offers a number of special discount programs for Canadian drivers too:
When financing a Mercedes, it can be a good idea to buy an extended warranty. Doing so increases your coverage by 2 – 3 years or up to 160,000 KM (whichever happens first). You’ll also get extended roadside assistance and powertrain coverage for up to 1 year (with no deductible). Plus, you can transfer an extended warranty to another person.
Otherwise, all new Mercedes-Benz cars come with a basic manufacturer warranty that lasts for 4 years or 80,000 KM, as well as coverage for these components:
If you’re a luxury car enthusiast, financing a Mercedes can definitely be a good option. However, buying a luxury car also comes with a new set of financial responsibilities. So before making the deal, consider your credit score and financial means to cover your payments. Visit a dealership or the Mercedes-Benz website for more information about their financing and leasing plans.
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