Puchong, May 23 – Driving innovation in automotive financing, Mercedes-Benz Services Malaysia Sdn Bhd (MBSM) is raising the game with more options for customers to finance and protect their prized Mercedes-Benz vehicles.
Leveraging on its menu selling strategy, MBSM recently introduced Return To Invoice (RTI) insurance and Tyre and Rim insurance options for customers to complement their standard comprehensive motor insurance.
MBSM’s menu selling strategy is designed to enhance its customers’ retail experience, creating greater value compared to traditional automotive financing. Customers have full access to an extensive list of financing and insurance solutions, thus raising the bar in financial flexibility.
“The seamless Mercedes-Benz experience continues with us as the in-house financing and insurance expert. Our strength in developing innovative financing and insurance solutions comes from understanding our customers’ financial backgrounds and needs. Essentially, customers now have the freedom to choose the terms of their financing plan; from the size of their down payment and the duration of their contract, to determining their monthly payments,” MBSM Managing Director Mike Ponnaz explained.
Taking it a step futher, customers financed under MBSM enjoy a number of options at the end of their contract period; whether it is to keep their vehicle by paying the residual value, utilising follow-up financing, or return the vehicle and immediately upgrade to the latest Mercedes-Benz model.
The newest addition to MBSM’s list of contemporary solutions is the RTI insurance, an innovative solution that helps customers maintain the value of their Mercedes-Benz vehicles. It eases the financial burden of the policy holder in the event of a total loss, from theft or fire, where a replacement vehicle is required. It offers complete protection against depreciation by covering the difference between the purchase price of the Mercedes-Benz vehicle and the amount paid by a Comprehensive Motor Insurance at the time of loss.
With RTI coverage, customers will have the same amount of money to purchase a replacement Mercedes-Benz vehicle. The maximum sum insured is RM1 million, and the maximum gap pay-out is RM500,000.
Meawhile, Tyre and Rim insurance policy holders enjoy an additional layer of protection on top of their standard motor insurance as coverage is extended to protect the tyres and rims of their Mercedes-Benz vehicle. These include replacements of up to all four tyres and four rims per policy year.
“The introduction of these insurance solutions is timely as the demand for complete insurance solutions and peace of mind is on the rise with the Malaysian market becoming more aware and informed about the importance of insurance. The RTI Insurance offers higher coverage and compensation compared to similar products offered in the market. We are a first mover in the market with the Tyre and Rim insurance, as it is the first of its kind for Mercedes-Benz customers in Malaysia. With this insurance, customers do not need to incur any additional expenditure for tyre or rim replacements,” Ponnaz explained.
The Tyre and Rim insurance fills the gap in the market for an insurance product that covers accidental damage to tyres and rims which are not covered by a standard motor insurance. These damages could be caused by parking mishaps, for example, that result in damaged rims or a punctured tyre. In the event such damage occurs, policy holders simply need to drive into any authorized Mercedes-Benz dealership to begin the claims and repair process.
Both insurance options are available with any Mercedes-Benz vehicle model*, be it individual or fleet purchases. Customers can also customise their financing package to include one or both, RTI and Tyre and Rim insurance products. For example, customers can opt to finance their new Mercedes-Benz vehicle through Agility Financing paired with a comprehensive motor insurance and add on the RTI insurance.
Existing MBSM customers whose vehicles are still within the manufacturer’s warranty are eligible to purchase the Tyre and Rim insurance directly from their authorised dealer network. Additionally, existing customers whose Mercedes-Benz vehicles are registeredwithin one year are also eligible to purchase the RTI insurance.
“MBSM enjoys a steadily growing portfolio of RM1.9 billion, todate. We remain focused on ensuring our customers’ peace of mind with more innovative financing and insurance solutions. The key word is value. Our menu selling guarantees customers a high level of financial flexibility, and ultimately make a vehicle with the prestigious three-pointed star theirs to keep,” said Ponnaz.