Find your best Mercedes finance rate with Driva

The prospect of buying a car is really exciting, but before you start shopping it’s a good idea to have a rough idea in mind of what a Mercedes-Benz will cost you. 

The actual car

When it comes to buying a new car, a good rule of thumb is to spend no more than 30% of your yearly household income on a car. Prices range quite dramatically, with the A180 hatch coming in at $50,200 and the Mercedes-Maybach GLS600 wagon starting at an amazing $358,300. If a brand new car is a bit out of your budget, you can also consider purchasing a second-hand model from a dealership, private seller or auction. No matter where you’re buying your Mercedes-Benz from, Driva can help finance it!

Ongoing costs

In addition to the major cost of buying the vehicle itself, there are a number of additional costs you’ll need to budget for too. These include:

• Registration. In order to legally drive a vehicle in Australia, you’ll need to register it. Registration costs vary between states and territories.
• Insurance. In addition to compulsory third party insurance (which is normally included in the cost of your registration), you’ll also need to take out comprehensive insurance in order for your loan to settle with any of the lenders on our panel. Driva has partnered with CGU Insurance to offer comprehensive vehicle insurance to our customers. 
• Maintenance and repairs. Regular maintenance and necessary repairs are essential to owning any car. Keep in mind that Mercedes maintenance costs tend to be higher than the industry average. 
• Fuel. Fuel costs will vary depending on a few factors including the model of your car and how often you drive it. To save money on fuel, you might like to consider an electric model like the compact Mercedes EQ. 

Learn more: How Much To Spend On A Car - A Complete Guide

Driva has a range of Mercedes finance solutions available, whether you’re after a consumer or commercial finance on a brand new or second-hand vehicle. Our main finance options are:

• Secured loan. Secured loans are one of our most popular finance products, and they involve using your new vehicle as collateral against the loan. They generally have a lower interest rate than unsecured loans and are normally used for newer vehicles. Looking to purchase an electric vehicle? Take a look at your EV loan options here.
• Unsecured loan. An unsecured loan won’t require you to put up your vehicle (or any other asset) as collateral, so you’ll likely end up paying a higher interest rate. Unsecured loans are best suited to older vehicles.
• Commercial loan. For our business customers, we have a range of commercial loan options available. Depending on your business circumstances, you might be interested in a chattel mortgage, finance lease or asset hire purchase arrangement.

You also have the option of getting finance through Mercedes-Benz Financial Services but bear in mind that you won’t be able to compare your finance options from more than 30 lenders (like you can with Driva!). 

Learn more: Dealer Finance Or Car Loan? Which Is Better?

Absolutely! Whether you’re after a brand new or used car, Drive can help you finance it.

Once your loan has settled and you’ve picked up your dream car, it’s time to start paying it back in regular repayments. These are normally fixed monthly payments, but depending on your lender you might be able to make these payments weekly or fortnightly instead. Your payments will include interest and lender fees. 

Yes! Drive can help you get pre-approved vehicle finance for a specific loan amount at a fixed rate. This means you can start shopping around with a set limit in mind and will help speed up the financing process. 

Even if you’re not 100% sure what vehicle you’re after or the exact loan amount you need, we can still help you get pre-approved and just update the vehicle details and loan amount prior to settlement. Keep in mind that your pre-approval period will expire after 90 days. 

We work with a panel of more than 30 lenders in order to give you the confidence that you’re getting the best possible rate. Driva's smart platform will allow you to compare all of your best finance options without any impact on your credit score.

Driva has a range of commercial finance options, so we’re confident we can find one that works for your business! Some of our popular commercial financial products include:

• Chattel mortgage. With this type of finance product, the business will have ownership over the vehicle, but the lender will have a ‘mortgage’ over it until the end of the loan term. It is also commonly referred to as an asset loan.
• Finance lease. A finance lease is essentially a rental agreement that allows the business the use of a commercial vehicle. The lender will technically have ownership over the vehicle until the end of the contract term. 
• Novated lease. Novated leases are typically used by employees as the most tax-efficient way to purchase a new vehicle. With this finance arrangement, the employer will pay for the employee's car lease and running costs of the employee's salary.