New MBFS Sales Exec Zeroes In on Tech Innovation

Mercedes-Benz Financial Services USA plans to use artificial intelligence and machine learning to further adapt to the industry’s “online evolution,” newly appointed Vice President of Sales and Operations Mark Lovely told Auto Finance News. Though traditional auto finance will remain a part of the business, Lovely is on the lookout for “new and exciting developments […]

• Nicole Casperson
• March 28, 2019
• Innovation & Mobility, Operations, Sales & Marketing, Technology, Update

Lincoln Financial, MBFS Top Consumer Satisfaction Survey

Lincoln Automotive Financial Services and Mercedes-Benz Financial Service tied for first place in J.D. Power’s luxury brand customer satisfaction index ranking, published this week. Consumer satisfaction was gauged in five areas: billing and payment processing; mobile app experience; onboarding; origination; and website experience. On a 1,000-point scale, both companies scored 877. This year’s study found that consumers are making […]

• Monica Melton
• November 13, 2018
• Operations, Strategy, Technology

Dealers Prioritize Lender Communication, J.D. Power Survey Finds

As interest rates rise, dealer satisfaction with their lender partners is increasingly reliant on quick and meaningful communication with credit staff, according to the 2018 J.D. Power Dealer Financing Satisfaction Survey released this week. “Satisfaction declines by 163 points, on a 1,000-point scale, when dealers are not able to reach the credit staff,” Jim Houston, […]

• William Hoffman
• August 14, 2018
• Archives, Credit Performance, Operations

18 Subscription Programs That Are Changing Auto Finance

Subscription programs that allow for more flexible vehicle ownership could wind up being a bust, but if investments from just about every major OEM on the market, a handful of startups, and numerous dealerships are any indication, this is a fad that will be around for some time to come.    What “flexible ownership” means […]

• William Hoffman
• July 31, 2018
• Innovation & Mobility, Risk, Technology

Daimler Financial to Change Name in 2019 Reflecting Mobility Ambitions

Daimler AG, the parent company of Mercedes-Benz is restructuring its financial services unit in order to better accommodate the rise of mobility services, the company announced in a press release. Daimler Financial Services AG will be renamed Daimler Mobility AG in the first half of 2019 and its 13,000 employees will be tasked with managing […]

• William Hoffman
• July 27, 2018
• Innovation & Mobility, Technology

Mercedes-Benz Bank to Launch Subscription Service

The financial arm of Mercedes-Benz said today that it will soon launch a subscription service called “Mercedes me Flexperience.” Mercedes said the pilot program will be launched through its Mercedes-Benz Bank in Europe “in the next few weeks.” In January, reports surfaced that Mercedes-Benz was planning to pilot a car subscription service this year. Mercedes me […]

• William Hoffman
• March 8, 2018
• Innovation & Mobility, Operations, Strategy, Technology

BMW’s First Loan Issuance in 2 Years Provides Portfolio Insights

BMW Financial Services issued its first North American securitization deal in two years, and the parameters of the transaction reflect the rising loan term environment seen across the industry. BMW’s 2018-A transaction backed by $1.4 billion in auto loans has the highest average loan term — 63 months — of any of its issuances dating […]

• William Hoffman
• January 16, 2018
• Capital Markets

Mercedes-Benz Financial to Construct New Fort Worth Operations Center

Mercedes-Benz Financial Services announced plans to construct a new national business operations center in Fort Worth, Texas, not far from its current location. Construction on the 200,000-square-foot facility is slated to begin in early 2018 in the business park of AllianceTexas. The building is scheduled to open in early 2019 and will retain 900 direct […]

• William Hoffman
• December 13, 2017
• Operations, Strategy