As an indicator of how popular vehicle financing services have become over here, Mercedes-Benz Malaysia has announced that its Mercedes-Benz Services Malaysia (MBSM) division has financed over 50% of all new cars sold through authorised dealers.

The company recorded a RM2.27 billion concrete servicing portfolio last year, netting new contracts worth over RM717 million – despite the coronavirus pandemic and the government’s movement control orders. The figures are slightly down on 2019’s figures of RM2.6 billion and RM1 billion respectively.

In addition, MBSM launched two new insurance products in 2020, Star Protect and Star Protect Plus, offering additional benefits on top of the usual coverage. They complement the company’s usual Agility Financing and FinanceCare hire purchase packages, as well as its lease products.

Agility Financing is perhaps MBSM’s most well-known offering, providing lower monthly instalments and a shorter loan tenure. Once their tenure is up, buyers can choose to either settle the outstanding amount, refinance the loan or simply walk away without owning the car.