Mercedes-Benz Financial Services Korea

What Mercedes-Benz Financial Services Korea does

Mercedes-Benz Financial Services Korea (MBFSK) is the captive automotive finance arm of Mercedes-Benz Group AG (formerly Daimler AG) in South Korea. Operating as a wholly-owned subsidiary, MBFSK provides financing, leasing, and insurance products exclusively to buyers of Mercedes-Benz passenger and commercial vehicles in the Korean market. The core product portfolio includes general installment financing, financial leases, operating leases, and two residual value-guaranteed products (MB-Sure installment and MB-Plus lease). These financing products are complemented by an extensive suite of bundled protection products: New Car Exchange Insurance (with Meritz Fire Insurance), Total Care repair cost insurance (with DB Insurance), 3-Care Plus, Body Care Program, and a Good Driver cashback reward program. The company also offers commercial vehicle financing in conjunction with Daimler Truck Korea and certified pre-owned protection programs.

Distribution is handled through Mercedes-Benz Korea's nationwide authorized dealer network — twelve named dealers including Hanseong Motor, The Class Hyoseong, Motor One, Star Motor, Jung-ang Motors, and others — with 50+ in-dealer Finance Managers handling origination. Digital channels include the benzfs.com website featuring a monthly payment calculator and the myMBFS customer portal for self-service account management, alongside KakaoTalk Plus Friend, Facebook, Instagram, and YouTube. Operational support comes from Mercedes-Benz Mobility AG (eRDR, Skip Loss, SAP, and CRC financial systems), Mercedes-Benz South East Asia (treasury and infrastructure), Ubase (customer service), Kookmin Credit Info (debt collection), and Dadais (insurance claims administration).

The revenue model is subscription/recurring: monthly installment and lease payments, annual insurance premiums, and one-time enrollment fees for protection programs. Interest rates on financing products range from 0–9% depending on vehicle class and customer credit profile. Revenue is generated through interest spread on installment loans, lease usage fees, and commissions or partner economics on insurance and protection products. The customer base consists of individual consumers purchasing Mercedes-Benz passenger vehicles (S-Class, E-Class, C-Class, GLC, GLE, A-Class, CLA, CLS, and EV models) plus commercial fleet customers, all originated through the MBK dealer channel.

Name

Mercedes-Benz Financial Services Korea

Legal name

Mercedes-Benz Financial Services Korea (메르세데스 벤츠 파이낸셜 서비스 코리아)

Website

https://benzfs.com

Company type

Private

Operating status

Operating

Headcount range

51–100 employees

Short description

Mercedes-Benz Financial Services Korea is the captive automotive finance arm of Mercedes-Benz Group AG in South Korea, providing installment financing, leasing, and vehicle protection products exclusively to Mercedes-Benz passenger and commercial vehicle buyers through the brand's nationwide authorized dealer network and digital channels.

Ownership category

akta.pro rank

Product category

Automotive Finance

NAICS

Passenger Car Leasing (532112), Passenger Car Rental (532111)

SIC

Services-Auto Rental & Leasing (No Drivers) (7510)

akta.pro primary industry

New & Used Auto Purchase Loans (FSAKADAA)

akta.pro secondary industries

Leasing & Lease Buyout Financing (FSAKADAC), Auto & Vehicle Leasing (Personal Use) (FSAKANAA), Vehicle Protection & Add-on Product Financing (Warranties, GAP, Service Plans) (FSAKADAL)

Keywords

• Automotive financing services
• Vehicle installment leasing
• Residual value guarantees
• Captive auto finance
• Vehicle protection insurance

Headquarters

HQ city

Seoul

HQ country

South Korea

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Installment Financing (할부): Traditional installment financing for Mercedes-Benz vehicle purchases. Customers pay monthly installments over a fixed period. Interest rates range from 0-9% depending on vehicle class and creditworthiness.
2. Financial Lease (금융리스): Lease agreement where the vehicle is registered under MBFSK's name while customer makes monthly payments. At lease end, customer can acquire ownership. VAT exempt on lease payments.
3. Operating Lease (운용리스): Operating lease where monthly payments can include running costs. Vehicle can be returned at lease end. No ownership transfer.
4. MB-Sure (잔존가치보장 할부): Residual value guaranteed installment program with guaranteed residual value at contract end, reducing monthly payments.
5. MB-Plus (잔존가치보장 리스): Residual value guaranteed lease program allowing inclusion of running costs in monthly payments.
6. Refinancing (재금융): Refinancing services for existing vehicle loans.
7. New Car Exchange Insurance (신차교환보험): Group insurance product provided in partnership with Meritz Fire Insurance. If customer is involved in accident with 50% or less fault and repair costs exceed 30% of purchase price, they can exchange for a new Mercedes-Benz.
8. Total Care Insurance (수리비용보상보험): Repair cost compensation insurance in partnership with DB Insurance, covering windshield, side mirror, tire, tire wheel damages, and body parts (dent, chip, scratch).
9. Good Driver Program: Rewards program for customers who maintain accident-free and violation-free records during the contract period. Provides cashback upon repurchase.

Pricing tiers

Go-to-market motion2 records

Distribution channels2 records

Marketing channels3 records

Core offering

Mercedes-Benz Financial Services Korea provides captive automotive financing for Mercedes-Benz vehicles in South Korea. Its core offering is a portfolio of installment financing and leasing products (MB-Sure residual value installment, MB-Plus residual value lease, general installment, financial lease, and operating lease), complemented by vehicle protection programs, group insurance products such as New Car Exchange Insurance and Total Care, refinancing, and commercial vehicle financing. Distribution is executed through the nationwide Mercedes-Benz authorized dealer network and the company's own digital portal.

Product overview

Mercedes-Benz Financial Services Korea (MBFSK) operates as a captive automotive finance company offering a portfolio of financial products centered on vehicle financing and leasing. The core offering consists of four main finance products: MB-Sure (residual value guaranteed installment), MB-Plus (residual value guaranteed lease), general installment financing, financial lease, and operating lease. These are complemented by an extensive suite of ancillary services including vehicle protection programs (3-Care Plus, Body Care, Total Care), insurance products (New Car Exchange Insurance, Total Care repair cost insurance, Certified Pre-Owned exchange and Car Care programs), and digital self-service tools (myMBFS customer portal, monthly payment calculator). MBFSK also provides commercial vehicle financing and a direct motor insurance comparison service. The overall portfolio functions as a platform of modular financial and protection products that can be layered onto the core finance contracts to enhance customer retention and vehicle lifecycle management.

Differentiator

Problem solved

Functional benefit

Products and services

• MB-Sure Residual Value Guaranteed Installment (잔존가치보장 할부 프로그램) Installment financing product for purchasing Mercedes-Benz vehicles with a guaranteed residual value set at contract end, materially lowering monthly payments by deferring a portion of the principal to maturity.
• MB-Plus Residual Value Guaranteed Lease (잔존가치보장 리스 프로그램) Lease program where customers pay monthly usage fees on a guaranteed residual value amount; at maturity, the customer can return, acquire, or re-lease the vehicle.
• General Installment Financing (일반할부) Traditional installment financing for purchasing Mercedes-Benz vehicles with fixed monthly payments over a set period. Interest rates range from 0-9% depending on vehicle class and credit profile.
• Financial Lease (금융리스) Financial lease where the vehicle title is registered under MBFSK during the contract while the customer makes monthly usage payments, with option to acquire ownership at maturity. Lease payments are VAT exempt.
• Operating Lease (운용리스) Operating lease with monthly payments that can include running costs such as insurance, tax, and maintenance. The vehicle is returned at lease end with no ownership transfer.
• Refinancing (재금융) Refinancing service that allows existing vehicle loan customers to restructure the terms of their financing.
• Commercial Vehicle Installment Financing (상용차 할부금융) Installment financing product specifically designed for commercial vehicles, offered as part of the commercial vehicle service lineup via the Daimler Truck Korea dealer relationship.
• New Car Exchange Program (신차 교환 프로그램) Program allowing customers to exchange their vehicle for a new Mercedes-Benz under specified contract conditions as an ancillary service to the finance contract.
• Good Driver Program (굿드라이버 프로그램) Reward program that refunds up to 10% of the original vehicle purchase price (capped at 7 million KRW), or 7% (capped at 5 million KRW) if not returned, to customers who maintain a clean driving record during the contract evaluation period and repurchase within 360 days of maturity.
• 3-Care Plus Protection program covering windshield, side mirror, tire, and wheel replacement costs due to non-accident damage, with combined coverage limits of 4.4M-6.7M KRW depending on vehicle model.
• Body Care Program Body damage protection program covering dent, chip, and scratch repairs on specified vehicle body parts caused by non-accident incidents, with a 1 million KRW per-occurrence limit.
• Total Care Program (토탈케어 프로그램) Comprehensive care program covering windshield, side mirror, tire, wheel, and body panel damage from non-accident incidents, with combined coverage limits tiered by vehicle model.
• New Car Exchange Insurance (신차교환보험) Insurance product that provides a new Mercedes-Benz replacement if the customer's vehicle is damaged in a car-to-car accident with 50% or less fault, when repair costs exceed 30% of purchase price. Example premium: 88,900 KRW annually for a 70 million KRW vehicle.
• Total Care Repair Cost Compensation Insurance (수리비용보상보험) Repair cost compensation insurance covering windshield, side mirror, tire, tire wheel damages, and body parts (dent, chip, scratch) for Mercedes-Benz vehicles, with tiered coverage maximums of 4.4M / 5.4M / 6.7M KRW by vehicle class.
• Certified Pre-Owned Exchange Program (인증중고차 교환 프로그램) Program allowing certified pre-owned vehicle owners to exchange for the same certified model if damaged in a car-to-car accident with 50% or less fault and repair costs exceed 30% of purchase price.
• Certified Pre-Owned Car Care Program (인증중고차 Car Care 프로그램) Protection program for certified pre-owned Mercedes-Benz vehicles covering windshield, side mirror, and bumper repairs for non-accident damage, with coverage tiered by vehicle model.
• Mercedes-Benz Direct Motor Insurance Quote Compare (다이렉트 자동차보험 비교서비스) Partner service enabling customers to compare motor insurance quotes from multiple Korean insurers in real-time with dedicated consultant support.
• myMBFS Customer Portal Online customer portal providing contract information viewing, payment history, document upload/download, early repayment calculations, and customer inquiry management for existing MBFSK customers.
• Monthly Payment Calculator (월 납입금 계산기) Online calculator tool allowing prospective customers to estimate monthly payment amounts based on vehicle model, model year, product type, down payment, contract term, and interest rate.

Quantifiable outcome

• Insurance claim processing through partner Dadais provides efficient claim handling for covered repairs.

Named customers1 record

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Eleven partnerships are on record, tiered core and supporting.

• Meritz Fire Insurance (메리츠화재)coreOthersMeritz Fire Insurance partners with MBFSK to provide New Car Exchange Insurance (신차교환보험), a group insurance product that allows customers involved in accidents with 50% or less fault and repair costs exceeding 30% of purchase price to exchange their damaged vehicle for a new Mercedes-Benz.
• DB Insurance (DB손해보험)coreOthersDB Insurance partners with MBFSK to provide Total Care (수리비용보상보험), a repair cost compensation insurance covering windshield, side mirror, tire, tire wheel damages, and body parts (dent, chip, scratch) for Mercedes-Benz vehicles.
• Dadais (다다이즈)coreImplementation/ SI/ Consulting PartnerDadais serves as the insurance claims handler and administrator for group insurance products including New Car Exchange Insurance, Total Care, 3-Care Plus, Body Care Program, and Car Care Program. Handles customer claims processing, documentation review, and benefit disbursement.
• Mercedes-Benz Mobility AGcoreTechnology or IntegrationProvides eRDR reporting system support, Skip Loss system operation, SAP system operation, and CRC system operation for MBFSK's financial systems.
• Mercedes-Benz South East Asia Pte. Ltd.coreTechnology or IntegrationProvides infrastructure system operation, treasury services, and regional oversight for MBFSK operations.
• Ubase (유베이스)supportingImplementation/ SI/ Consulting PartnerHandles customer contract inquiries and consultation, as well as maturity contract management for MBFSK.
• Kookmin Credit Info (고려신용정보)supportingOthersProvides debt collection services for MBFSK.
• Mercedes-Benz Korea (메르세데스벤츠코리아)coreStrategic or Co-development PartnerParent company and main distribution channel partner. MBFSK provides financing services for Mercedes-Benz vehicles sold through MBK dealer network. Joint marketing and customer data sharing for financing services and co-marketing activities.
• Mercedes-Benz Group AG (다임러그룹)coreTechnology or IntegrationCorporate parent providing system support, audit services, network operations, and strategic direction for MBFSK. Handles portfolio reporting and financial auditing through accounting firms.
• Daimler Truck Korea (다임러트럭코리아)supportingStrategic or Co-development PartnerRelated entity for commercial vehicle financing services, sharing dealer network and corporate governance with MBFSK.
• Mercedes-Benz Authorized DealerscoreChannel Partner/ Reseller/ DistributorNetwork of authorized dealers including Hanseong Motor, The Class Hyoseong, Motor One, Star Motor, Jung-ang Motors, Gyeongnam Motor Sales, Jin Motors, Shinseong Motor, KC Auto, Gyohak Motors, Hanseong Motors, DK Motors that facilitate vehicle sales and financing applications.

Scale indicators1 record

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UChbw0qKAMdFf6TlC0T3Z_zw
• Facebookfacebook.com/MercedesBenzKorea
• Instagraminstagram.com/mercedesbenzkr
• LinkedInlinkedin.com/company/mbfsk

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mercedes-Benz Financial Services Korea