Is Mercedes-Benz in financial trouble?
The annual results published this Thursday morning reveal a sharp decline for Mercedes-Benz in 2024, impacted by the drop in sales of electric vehicles, the stagnation of the Chinese market and the turbulence in the European automotive industry. The year 2024 has been a difficult year for Mercedes-Benz. When it comes to performance and safety, Audi and Mercedes are evenly matched. These luxury manufacturers also make some of the best small crossovers and large SUVs. Most shoppers are better off with a Mercedes-Benz than an Audi. Mercedes sets the bar high when it comes to interior luxury.Yes, like most vehicles,Mercedes-Benz models require more frequent maintenance as they age. Components such as brakes, suspension, and electrical systems may need repairs after 5–7 years, increasing overall maintenance costs.While both BMW and Mercedes-Benz produce high-quality, luxury vehicles, Mercedes-Benz has a slight edge in terms of overall reliability. Mercedes’ focus on durability and comfort contributes to fewer maintenance needs, longer-lasting components, and potentially lower repair costs.When properly maintained, a Mercedes-Benz can easily last well beyond 200,000 miles, and some models have even been known to reach 300,000 miles or more. The longevity of a Mercedes-Benz depends on a variety of factors, including regular maintenance, driving habits, and the specific model.If not properly maintained, the lifespan of a Mercedes-Benz can decrease significantly, potentially shortening its life to under 150,000 miles. Regular maintenance is key to achieving high mileage.
Can I pay off my Mercedes finance early?
Yes, you could pay off your Mercedes Benz finance early. But, the terms may vary by the lender and the agreement. Paying off your finance early could help you save on interest payments and potentially own the vehicle outright sooner. All you have to do is get in touch with your finance company and ask them for a “settlement figure”. By law your lender has to post a settlement figure to you within 12 days – most times it comes straight away. You will have a period – usually 10 days – in which to actually pay the amount off.If you’d like to pay off your vehicle finance early, you can request a settlement quote. This means you’d pay less interest overall. The quote will be valid for 28 days. You can also make a partial early repayment, which reduces the interest due over the rest of your vehicle finance.Determine what you can afford to pay. Contact the creditor to negotiate a lump-sum settlement. Receive the terms of your settlement agreement in writing. Send your payment.