In South Florida and interested in purchasing a Mercedes GLS 450. I advised the salesman that we would be applying for financing via the MB online application for leasing the vehicle. He told me not go that route and to apply directly through him and that he would provide the application. For July the Money Factor is .00158 so I’m concerned the dealer may try to increase the MF if I went through him directly. Is there any advantage of going through the dealer for financing as opposed to MB online?
If they charge max MF markup to everyone it doesn’t matter whether you applied to MBFS directly. MBFS only sets the buyrate and has no power over whether the retailer marks it up or not.
There is some benefit to applying directly through the dealer especially if you’re unsure of whether you’re getting Tier 1 or not.
Before submitting the application, make sure that you have the deal structure in place and that you know the numbers… including the money factor.
Dont let them run your credit until you have the numbers you want, no point in getting a hard inquiry for no reason.