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Dealer Financing vs. Bank Auto Financing

Purchasing a new vehicle comes with multiple decisions, including whether you should look to bank auto financing or dealer finance plans. At Mercedes-Benz of Chicago, we want to make the car buying process as stress-free and enjoyable as possible, so we’ve put together this guide, which explains the benefits to both, as well as cover the specific advantages that come with using Mercedes-Benz Financial Services. 

Why Choose Dealer Finance Plans?

Dealer finance plans allow you the convenience of financing at the same place you purchase your vehicle, which cuts down in your trips around Chicago. And, the benefits to dealer financing don’t end there, you’ll also get: 

  • A finance team that can help you determine if buying or leasing your new Mercedes-Benz is in your best interest. 
  • Bank auto financing can limit some shoppers, as banks can include restrictions on age and mileage in their loans. 
  • Instead of filling out multiple applications with different banks, you’ll find one online application at a dealership.
  • A bank can only provide their lending option, while a dealership works with multiple lenders to find you a great term and rate. 
  • Credit-challenged buyers will find dealerships that specifically cater to their circumstances and work to help them rebuild their credit. 
  • When you choose dealership finance options, you have the leverage to negotiate other costs, such as your down payment. 
  • Dealership finance offers can also be added to make your new purchase easier on your wallet. 

Why Choose Bank Auto Financing?

A pre-existing relationship with your bank can make the idea of choosing bank auto financing more comfortable for some buyers. Banks also can set their own internal rates. While these are advantages, it’s still worth comparing any loan offers you get from a bank to those a dealership can offer, as they will have more options. 

First-Class Mercedes-Benz Financial Services

Mercedes-Benz is known for world-class amenities, and that applies to Mercedes-Benz Financial Services as well. With Mercedes-Benz Financial Services, you can expect:

  • Special Finance Offers- Loyalty Program Accelerator and other programs make sure you find great pricing on your Mercedes-Benz vehicle.
  • Financing and Leasing- Cost-effective financing and leasing packages are available, along with options balloon payment plans. 
  • Automated Payments- Payments can automatically be withdrawn from your bank account when you set up your payment plan online. 
  • First Class Finish- Find incentives towards leasing your next vehicle and enjoy fast and simple lease returns with Mercedes-Benz Financial Services. 
  • Available Warranty Coverage- Enjoy peace of mind with additional warranties or extended warranty coverage. 

Visit the Mercedes-Benz of Chicago Finance Center Today!

While you can learn more at our finance center in Cook County, you can also start your vehicle financing at home! Use our online payment calculator to create a plan that works well with your budget, and then complete our application to get pre-approved!


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