Frequently Asked Questions
Q. After I’ve decided on my smart vehicle, what steps do I take to lease or finance through Mercedes-Benz Financial Services?
A. Once you decide on a vehicle, you can Apply for Credit by clicking here. Once your application is submitted, notification will be sent to your preferred dealer, who you can then contact to arrange the last details. You can also apply for credit in person at your preferred dealer.
Q. If I apply for credit online, will the information I provide and view be secure?
A. Rest assured that at financingfortwo.ca we're as concerned about this as you are. We safeguard your personal information with industry-standard security technology. In order to make sure you're receiving all the benefits of our safety and security procedures, we suggest you upgrade to the latest version of your Web browser.
Q. Can I lease or finance a pre-owned smart vehicle?
A. Yes. Mercedes-Benz Financial Services also offers competitive financing programs customized specifically for pre-owned vehicles. Please inquire with your local dealer.
Q. In a First Class Lease, how many kilometres can I drive?
A. To fit the varied driving habits and preferences of our customers, Mercedes-Benz Financial Services offers several different lease programs. For smart vehicles, our standard lease allows for 18,000 kilometres per year, and our low kilometre lease allows for 12,000 kilometres per year. In addition, we offer an extra-kilometre lease if you drive more than 18,000 kilometres per year.
Q. How do I go about purchasing my vehicle at the end of my lease?
A. Your vehicle may be purchased at the end of your term by contacting a lease maturity advisor at 1-866-202-6969.
Q. Is it possible to extend a lease that is ending, for example if my new smart vehicle isn’t available yet?
A. You may have the option of extending your lease. Please contact a lease maturity advisor (1-866-202-6969) to review your options.
Q. What happens if I would like to terminate my lease early?
A. You may, in fact, have various options available to end your lease early, as per the terms of your lease agreement. To inquire about your available options, please contact the appropriate Mercedes-Benz Financial Services servicing office at 1-888-532-7362.
Q. What is Pre-Authorized Payment?
A. Pre-Authorized Payment is a free service available from Mercedes-Benz Financial Services that automatically deducts your monthly vehicle payment electronically from your chequing or savings account.
Q. How does Pre-Authorized Payment work?
A. Each month your payment is deducted from your enrolled chequing or savings account. If the date happens to fall on a weekend or holiday, the debit is processed the next business day (Monthly or Biweekly payment options are available).
Q. What do I need to qualify for Pre-Authorized Payment?
A. All you need is a chequing or savings account in good standing with a financial institution. To sign up, you'll also need to supply some basic personal information, chequing or savings account information, as well as your Mercedes-Benz Financial Services account number(s).
Q. How do I sign up for Pre-Authorized Payment?
A. For registeration inquiries, please contact the appropriate Mercedes-Benz Financial Services servicing office at 1-888-532-7362.
Q. How will I know my Pre-Authorized Payment service has been activated and I can stop mailing payments?
A. You are responsible for mailing your payments until you receive a confirmation letter stating that you are enrolled in Pre-Authorized Payment. The enrollment process takes approximately 30 days after we receive your Authorization Agreement. It is very important that you continue mailing your payments until you receive this confirmation letter.
Q. What if I haven't received a confirmation letter after four weeks?
A. In this situation, contact Mercedes-Benz Financial Services by calling the
Mercedes-Benz Financial Services office that services your account to check the status of your Pre-Authorized Payment registration (1-888-532-7362).
Q. Do I include a payment with my Pre-Authorized Payment Authorization Agreement?
A. Yes, you can include a payment with the Pre-Authorized Payment Authorization Agreement. Continue making payments by mail until you receive a confirmation letter from Mercedes-Benz Financial Services.
Q. Can I use Pre-Authorized Payment for more than one Mercedes-Benz Financial Services account?
A. Yes. Pre-Authorized Payment can be used to make payments on as many Mercedes-Benz Financial Services accounts as you like. Simply complete the Authorization Agreement process for each account. Make sure the Authorization Agreement is complete, then print and sign the document and mail it and a void cheque to the Mercedes-Benz Financial Services office that services your account.
Q. What if I change financial institutions?
A. Transferring Pre-Authorized Payment to a new chequing or savings account is easy. All you need to do is complete a new Authorization Agreement with your new account information and send it to Mercedes-Benz Financial Services along with a void cheque. We'll update your Pre-Authorized Payment information and send you a confirmation letter stating that we have processed your information change. The process takes approximately 30 days after we receive your Authorization Agreement. Payment will be drawn from your current account until Mercedes-Benz Financial Services and your financial institution have processed the request. In the interim, if you have closed your current bank account you must make payment by mail.
Q. What if I decide to discontinue Pre-Authorized Payment?
A. To cancel Pre-Authorized Payment simply complete and submit the Cancel Pre-Authorized Payment online form within the Statement Options tab of Update Profile. You can continue making payments by mail, or sign up for Pre-Authorized Payment again at a later time.
Q. I need to speak to a Mercedes-Benz Financial Services representative about Pre-Authorized Payment. Who do I contact?
A. If you still have questions about the service, please contact the
Mercedes-Benz Financial Services servicing office by calling the Mercedes-Benz Financial Services office that services your account. Before calling, make sure to have your banking information and Mercedes-Benz Financial Services account number(s) available so that we can serve you as quickly and efficiently as possible.