KUALA LUMPUR – Daimler Financial Services has established a new subsidiary in Malaysia. With the launch of Mercedes-Benz Services Malaysia Sdn Bhd in Kuala Lumpur, the company said it has successfully set up its financial services business in the country.
As a result, Malaysian customers can now take full advantage of the broad range of attractive automotive financial services offered by Mercedes-Benz Financial, FUSO Financial and Mercedes-Benz Insurance Services. With the launch of the Malaysian subsidiary, Daimler’s financial services arm is now represented in 40 countries worldwide.
“Entering the market in Malaysia is an important step that will help secure our lasting profitable growth,” said Klaus Entenmann, the Chairman of Daimler Financial Services. “What's more, we are pleased that our local customers will now also enjoy our automotive financial services, which meet the highest international standards.”
Mercedes-Benz Services provides customers in Malaysia with a one-stop shop from which they can choose the products that best meet their needs, according to the company. When purchasing their vehicles, Mercedes-Benz and FUSO customers have three financing options:
Option 1: HP Classic – Mercedes-Benz Services Malaysia finances Mercedes-Benz and FUSO vehicles with equal monthly installments.
Option 2: HP Balloon – Mercedes-Benz Services Malaysia gives customers the option of lowering monthly payments on their vehicles with a final lump sum, which is agreed upon at the time of purchase. Here, there are three end-of-contract choices: pay-off, refinance or part-exchange with a brand new vehicle.
Option 3: HP FlexiPay – Customers are given the flexibility to structure their payments taking seasonal effects or festival periods into consideration. This option aims to help customers effectively plan and manage their finances.
In addition to these three options, Mercedes-Benz Services Malaysia offers its customers the insurance solutions of Mercedes-Benz Insurance Services, which are underwritten by its strategic partners Allianz and AXA. Its state-of-the-art comprehensive motor insurance packages insure vehicles against damage and loss. Mercedes Benz Services will also be launching payment protection insurance within the next few days, and plans to introduce an attractive courtesy car program at the beginning of next year.
Mercedes-Benz Services places particular emphasis on ways to enhance its digital sales channels. For example, it has included a financial calculator on the Mercedes-Benz Malaysia website. The company is also currently launching the ‘myMBFS’ iPhone app, which enables customers to select a car model, calculate monthly installments and access information on promotions. In addition to conventional service channels, customers can submit service inquiries from anywhere at any time via Mercedes-Benz Services web-based applications.
According to a recent World Bank study, Malaysia is among the world's most attractive places to invest. Accordingly, Daimler Financial Services has invested around €5 million in the establishment of its new national subsidiary. The start of business operations highlights the growing importance of the country's automotive market.