|
Question: When is the first monthly payment on my contract due?
Answer: The first monthly payment/Rental or future payments are due on the dates indicated on your contract under the payment schedule. Should the said date fall on a weekend or public holiday, the payment will be collected on the first business day thereafter. The remaining monthly payments/Rentals will be deducted until the final payment is received as indicated in your contract under the payment schedule. |
Question: What is the amount of my monthly payment?
Answer: The Rand value of the monthly payment is indicated in your contract under the payment schedule. For all Lease and Rental contract customers, please note that the instalment amount excludes the VAT amount payable on a monthly basis.
|
Question: Will I be charged an Initiation Fee and if so, what is this for?
Answer: Yes, you will be charged an Initiation Fee. This fee is to cover the cost involved with initiating a credit agreement. This fee is allowed for by the Regulations of the National Credit Act. You have two options of paying this fee:
1. You may finance the Initiation Fee in your Principal Debt and it will attract interest; or
2. You can pay it upfront (interest free).
The amount is specified in your schedule. |
Question: Will I be charged a Monthly Service Fee and if so, what is this for?
Answer: Yes, the frequency and value of the amount is stipulated in your contract. This is a fee to cover the maintenance involved in the contract (e.g. maintaining the system, processing of debit orders etc).
|
Question: How do I change my personal or payment details?
Answer: Certain personal details may be changed telephonically with our Customer Services Department. Should you however wish to amend your physical address or bank details, we would need a written request together with the relevant supporting documents. Kindly contact our Customer Services Department and a dedicated agent will advise you of the processes to be followed.
|
Question: Can I travel to a foreign country in my vehicle?
Answer: Yes you can, however, you will be required to obtain a Border Letter from our Customer Services Department and provide proof that your Comprehensive Insurer provides cover for the country you are travelling to. Should you wish to request a Border Letter, you can complete the attached request form and fax it to our Customer Services Department on (012) 660-7219, together with your confirmation of insurance cover. Please remember to include your contract number, reference number or ID number.
|
Question: Can I insure my vehicle with Mercedes-Benz Finance and *Insurance?
Answer: Yes, Mercedes-Benz Finance and *Insurance offers a range of comprehensive and competitively priced insurance products. Call our Customer Services Department for detailed information on the products best suited for your vehicle and usage.
|
Question: What other value added products are available from Mercedes-Benz Finance and *Insurance?
Answer: A variety of products such as Finance and Shortfall Protection, Deposit Protection and Maintenance products are available. For more information contact our Customer Services Department
|
Question: When will I receive a statement of my account?
Answer: If your preferred mailing option is post, you will receive your statement every two months after the 25th of the month. If your preferred mailing option is e-mail, you will receive your statement every month after the 25th of the month.
|
Question: How do I know if my contract falls within the National Credit Act?
Answer: Refer to the below graphic illustration link.
|
Question: Will I be paying an early settlement penalty fee?
Answer:
• If you are a private individual and the principal debt on conclusion of your agreement was <R250 000, your settlement will not include any penalty interest (only daily interest from the last instalment date).
• If you are a private individual and the principal debt on conclusion of your agreement was >R250 000, the National Credit Act allows for 90 days penalty interest plus daily interest (from the last instalment date) to be included in your settlement. This can be avoided if you give 90 days notice of your intention to settle. |
Question: What is the Mercedes-Benz Standard Lending Rate?
Answer: This is a rate determined by the Management Board of Mercedes-Benz Financial Services which operates in a similar manner to the prime rate and can be adjusted from time to time, resulting in an increase or decrease in your monthly repayment.
|
Question: Do you have a Debt Review Helpline?
Answer: Yes, below the details:
Tel no: +27 (0) 12 673 6368
Fax no: +27 (0) 12 660 7544
E-mail: ReviewDebt@mbfssa.co.za |
For further information on Debt Review, please visit the National Debt Mediation Association website: http://www.ndma.org.za
Please note that Mercedes-Benz Financial Services belongs to this association.
*Mercedes-Benz Finance and Insurance is an Authorised Financial Services and Credit Provider, and is underwritten by Regent Insurance, FSP no. 25 511, and Regent Life Assurance, FSP 18 146. |
| | |
