Standard rates, fees and charges applied to Consumer Contracts

Standard rates, fees and charges applied to Consumer Contracts

Our standard interest rates range from 8.75% to 13.49% per annum and fixed for the whole term of the contract. Interest charged under the contract is calculated by multiplying the unpaid average daily balance outstanding at the due date of each month by the monthly interest rate. The monthly interest rate is calculated by dividing the annual interest rate by 12. Current interest rates are dependent on term, deposit and dealer discretion. Mercedes-Benz Financial normal lending and credit assessment criteria apply. These interest rates are current as at the present day however are subject to change. Please see your authorised dealer for any promotions or special rates available at this time.

Establishment fee

Establishment fee

Up to $265. This fee covers the cost of processing, assessing and approving your finance application.

PPSR registration fee

PPSR registration fee

$10.35. This is fee is for registering our security interest on the Personal Property Security Register.

Early termination – creditor’s loss fee

Early termination – creditor’s loss fee

A creditor’s loss fee will be applied if you early terminate your contract. This fee is to compensate the Lender for any loss suffered by the Lender, should you decide to fully repay all monies owing under your contract before the final repayment is due.

Default interest

Default interest

Default interest is calculated at the rate of 10% per annum plus the annual interest rate referred to in your contract. If you fail to make any payment on the due date default interest is payable on the overdue amount from the due date until the date Mercedes-Benz Financial receives full payment of that overdue.

Recovery costs

Recovery costs

We will charge you any costs charged by third parties relating to your Consumer Credit Agreement e.g. Legal, Repossession Agent or vehicle repairer.

These fees are effective from 1st June 2018.