Mercedes-Benz Services Malaysia, the leasing and financing arm of Mercedes-Benz Malaysia, will not be granting a 6-month moratorium for its customers, echoing a similar move by BMW Credit Malaysia.
Curiously, there is very little chatter about it. To Mercedes-Benz owners, this is almost like a non-issue, which is in sharp contrast to the hoohaa created by BMW customers, who flooded the company’s Facebook page demanding that they be given the same 6-month moratorium on their car’s payments extended by banks.
The announcement is not new and Mercedes-Benz customers have already been informed of the matter earlier. A statement by Mercedes-Benz Services Malaysia reads:
“Please be informed that Mercedes-Benz Services Malaysia is not in the category of a Licensed Bank or Financial Institution under the purview of Bank Negara Malaysia. As a result, the automatic moratorium directive does not apply for Mercedes-Benz Services Malaysia. Unfortunately, we will have to continue to accept all monthly instalments due for now.
“However, we are aware of the difficulties faced by our customers and are currently working on the best solution to support our customers.
“Your inquiry is important to us. Please do not hesitate to contact us via email at email@example.com or contact us at 1-800-88-1133 press 2. As we are facing an unprecedented high volume of enquiries, our team will get back to you as soon as possible.”
Based on the most recent publically available information, Mercedes-Benz Services Malaysia finances 50 percent of all Mercedes-Benz cars sold in Malaysia, with a portfolio worth over RM 2.8 billion.