For a lot of people, getting a new a car typically involves taking up a loan which “ties them up” for a few years without any additional benefits beyond being able to drive their purchase so long as monthly repayments are made.
While a hire purchase agreement is straightforward and simple, it is not without its limitations. In addition to being locked into a set tenure that determines the monthly repayment amount, buyers could also be faced with a situation where their car cannot fetch a desired value should they decide to sell at the end of the loan period.
To circumvent these downfalls, Mercedes-Benz Financial Service is providing customers with the option of Agility+, an innovative payment plan that is designed to provide ultimate flexibility and convenience.
Through Agility+, you get a lower, more affordable monthly repayment structure when compared to a traditional bank loan. This is made possible because unlike a normal bank loan where you’re paying for the entire car, the Agility+ plan allows you to choose your preferred tenure and mileage, meaning you’re only paying for how much you plan to use.
“When I go and read a little bit more [about Agility+], compared to the conventional package (hire purchase loan), actually is it a little bit more savings in Agility+,” said Kent, a customer that took up Agility+ to finance a Mercedes-Benz EQS.
This approach of “only paying for what you intend to use” provides you with flexibility if you’re not the type of person who drives very frequently but prefer to be in a Mercedes-Benz when you do. This was the case for Sharon Arulandu, another customer who chose Agility+ for a GLC because of her low mileage usage.
Alternatively, you might be someone who would like to try something different after a certain of years. The Agility+ plan is also tailored for this as it incorporates something called Guaranteed Future Value. Factored into your payment plan, Guaranteed Future Value protects you from depreciation, which is one of many factors that are beyond our control in determining the resale value of a vehicle.
Coming to the end of your tenure, you are given a few options on how to conclude your Agility+ plan. As a start, you can Settle the remaining residual value of the car and take full ownership. Alternatively, you can even sell the car off yourself and pocket the difference if get a good offer for it that’s even higher than the Guaranteed Future Value.
The second option is to Extend your repayment plan to cover the remaining residual value over the following few years. Meanwhile, the third option is to Return the car back to Mercedes-Benz with no further obligations, freeing you to upgrade to a newer Mercedes-Benz model every three to five years if you so wish.
Speaking from her experience, Sharon recalled, “Mercedes-Benz contacted me to check on what are my options if I’m going to renew the car, and they me I can either renew, find an outside buyer or return the car. So, I had a few months to make a decision and I decided to go ahead and find a purchaser outside. I managed to sell my car outside on time to replace with a new Agility+ programme and a new GLC.”
Financial benefits are just part of the Agility+ experience, as you’ll also get to enjoy two service packages to cover scheduled services as well as MobilityPlus, which guarantees a replacement car if your Mercedes-Benz ever needs to be at the service centre for any more than 48 hours. For business owners like Too Jia Feong that uses his Mercedes-Benz for networking, having the peace of mind that he can remain mobile with Agility+ was a relief in reserve.
Agility+ is a unique way to own and experience a Mercedes-Benz that delivers a plan that is not only feature-rich, but also flexible and with a lower, more affordable monthly repayment structure aligned to your budget. It’s well worth checking out if you’re tired of the constraints of traditional car loans.
Looking to sell your car? Sell it with Carro.