We have been financing commercial vehicles since 1984 and have heard plenty of questions. Listed below are some answers to the most commonly asked questions – and if you can't find your answer, click here for assistance with your specific request. We are here to help.
How will I be invoiced for my monthly payments?
A: An invoice will be generated from our system 17 days before your due date and sent by regular mail. For added convenience, you can sign up for our Auto Pay Plan or you can set Daimler Truck Financial as a “Bill Payee” through your own Canadian bank or credit union and make your payments just like you would your cable or utility billour.
How can I make my payments?
A: We offer multiple payment options to fit your needs, including Auto Pay, online pay, Western Union and more. Find the perfect payment option here.
To whom do I make my cheques payable?
A: Cheques can be made payable to Mercedes-Benz Financial Services.
How will I know a payment has been completed via Auto Pay?
A: Your bank statement will show a debit for your monthly payment amount, made to DAIMLERTRUCKFINANCIAL or a similar abbreviation (Each bank may show different variation)
What needs to be done if I am making a payment by the Auto Pay Plan and I change my bank information?
A: You can update your Auto Pay Plan information on your My Account page or by contacting our Customer Service Department at 1-800-361-4680
How do I obtain a payoff quote on my account?
A: You can obtain payoff quotes by contract number on your My Account page or by contacting our Customer Service Department at 1-800-361-4680
When changing jobs, are there any other issues I need to consider regarding my loan or lease with Daimler Truck Financial?
A: If your truck insurance coverage is obtained through your employer, please notify your insurance agent and instruct them to list Mercedes-Benz Financial Services Canada Corporation as loss payee and additional insured for loan contracts and Daimler Truck Financial as loss payee and additional insured for leases. The agent should then send Daimler Truck Financial a copy of the insurance certificate (via mail), to the attention of the Customer Service Department.
When is my Year-End Interest Statement available and how can I obtain it?
A: Year-End Interest Statements are available after January 31st of each year and can be obtained by calling our Customer Service department at 1-800-361-4680
How can I obtain an amortization schedule of my loan?
A: Amortization schedules are only available to customers through special request. Please contact our Customer Service department at 1-800-361-4680 to obtain a copy of your schedule.
As an owner-operator, I travel quite a bit and am not always available to handle issues about my account. Is there any way I
can assign a third party to manage or discuss my account with Daimler Truck Financial?
A: Yes. Daimler Truck Financial requires you to provide verbal authorization to disclose account information to a designated person. Contact Customer Service to authorize.
How do I get a copy of my ownership?
A: Please call customer service at 1-800-361-4680, we can provide a power of attorney for you to request new ownership at the ministry of transportation or the SAAQ.
I've recently moved and need to change the registration and title on my truck to reflect a different province. Can you send
me my ownership?
A: Contact Customer Service and we can update your address in our systems as well as the lien registry. We can then provide you with a power of attorney for you to request the new ownership at the ministry of transportation or the SAAQ.
My vehicle is a leased vehicle. Do I need a Power of Attorney from Daimler Truck Financial to change the ownership from one
province to another?
A: Yes. Please contact customer service and they will email or fax you a Power of Attorney.
CHANGE OF ADDRESS
To change your address please contact our Customer Service Department or the "change of address form" in My Account
BANKING INFORMATION CHANGES
If you have changed financial institutions and would like to update your auto-debit information, please complete a Pre-Authorized Payment Plan form and submit it to our Customer Service Department.
APPLY FOR CREDIT
If you would like to apply for credit with Daimler Truck Financial, please complete the credit application form in Apply for Credit and take it to your nearest Freightliner, Western Star Trucks, SelecTrucks, Thomas Built Buses or Fuso Truck Dealers Dealership for further consideration.
CHANGING YOUR DUE DATE
If you would like to change your due date please contact our Customer Service Department. A fee covering the interest expense will apply. Daimler Truck Financial will prepare the necessary paperwork.
INTEREST PAID LETTERS
To obtain an amortization history, that shows interest and principal for each payment on your account, please contact our Customer Service Department.
When you select auto-debit you will only receive one invoice when your first monthly payment is due, confirming that your account is set up on auto-debit.
When you choose monthly invoicing you will be invoiced 17 days in advance of your due date. Customers with multiple accounts may choose a consolidated invoice, provided all contracts have the same due date. Please contact our Customer Service Department to make arrangements.
If you want to designate someone else to discuss your account with us please complete the Privacy Authorization letter and submit it to our Customer Service Department.
If your leased vehicle needs replating due to a change of employer, please contact Daimler Truck Financial, or your original leasing dealer, for a Power of Attorney letter.
Financing with Daimler Truck Financial has its advantages! As a member of our family you have access to your own personal page on our website. My Account offers you these exciting options that will help you stay on the road and stay connected:
- View Account Status
- View Invoices
- Obtain Online Forms
- Request Document Copies
- Contact Daimler Truck Financial
If you are a current Daimler Truck Financial customer, just click here to log in.
Customers are responsible for making payments on or before their due date per the conditions stated in their contract, however please refer to your contract for specific grace period details.
Daimler Truck Financial must receive your payment by your due date or within your grace period, otherwise it will be considered late and a late charge will be assessed to your account.
Late charges will be calculated as a percentage of the unpaid amount based on the terms stated in your contract or lease agreement.
GST AND HST BALLOON PAYMENTS
If you finance the GST/HST on a conditional sales contract you may choose to have a balloon payment in the fourth month. The balloon amount represents the regular monthly payment plus an amount that approximately equals the amount of GST / HST financed on your contract.
In order to be reimbursed by Canada Revenue Agency (CRA), you will require a GST/HST number. Once assigned a GST/HST number you, or your accountant, can file a reimbursement claim through CRA. This process usually takes several months so please pursue this immediately.
Visit the CRA Website for more information.
Customers may be eligible to finance their balloon payment if they have sustained a good payment history and after all contract obligations have been met.
Daimler Truck Financial can provide financing for a lease-to-retail transaction. You will need to complete a credit application and provide all additional required documentation in order for Daimler Truck Financial to determine this possibility.
You are responsible for making your payment on or before your due date per the conditions stated in your contract.
Daimler Truck Financial must receive your payment by your due date. Otherwise, it will be considered late and a late charge will be assessed to your account.
If your due date falls on a weekend or holiday the payment must be received on the business day prior.
The late charge will be calculated based on the terms stated in your contract agreement.
CHEQUE OR MONEY ORDER REGULAR MAIL/ OVERNIGHT/PRIORITY MAIL TO
Daimler Truck Financial
2680 Matheson Blvd East,
Mississauga ON L4W 0A5
To ensure proper credit to your account, please include your name and account number.
AUTO-DEBIT / PREAUTHORIZED PAYMENT PLAN
This option offers you an efficient and convenient way to make your payments automatically. Once your plan is set up, your scheduled payments will automatically be withdrawn from your bank account. We trust you will find this to be a convenient and secure method of payment.
If you would like to register for our Pre-Authorized Payment Plan please complete this enrollment form and submit it to our Customer Service Department.
INTERNET / TELEPHONE BANKING
To do this, simply contact your financial institution, through the internet or telephone, and have Daimler Truck Financial setup as a new payee. Then start making your payments from the convenience of your own home.
For your convenience you can pay online through your chartered Canadian Bank via the 'Pay Bills' section. Payments will post to your account the next business day, but you should allow 3-4 business days for the payment to appear online
WESTERN UNION QUICK COLLECT
Pay to the order of: Daimler Truck Financial
For lease customers with a Prorate Tax Certificate, we can update your account to exempt you from being billed PST once we have received a copy of the certificate. Contact our Customer Service Department.
PAYING OFF YOUR ACCOUNT
To obtain a payoff quote go to My Account or contact our Customer Service Department.
When you pay off your account in full with certified funds (i.e. certified cheque, money order, or bank draft), you will receive an immediate release of interest. If a payment has been withdrawn within the last 14 days, the release of interest will be conditional until the 14 day clearing period.
When you pay off your account in full with a personal or business cheque, Daimler Truck Financial will release their interest after 15 days.
If you intend to pay off your account and regular monthly payments are made by Pre-Authorized Payments from your bank account, please contact our Customer Service Department to have your account removed from Pre-Authorized Payments.
LOAN OR LEASE EXTENSIONS
If you run into a temporary problem and are unable to make scheduled payments, Daimler Truck Financial can provide a number of payment options to assist you with past due or upcoming payments, subject to account review. We will require information supporting the reasons for your request, which may include some documentation. An extension fee, in addition to the interest cost, may apply. To inquire about the various payment relief options that are available to you, please contact our Account Management team at 1-800-361-4680.
TRANSFERING YOUR LEASE OR LOAN
In certain circumstances, we will consider transferring your lease or loan to another individual or entity.
To begin the process, contact the Daimler Truck Financial Customer Service Department (800) 361-4680 for assistance. We will require that the interested party complete a credit application and submit it with a cheque of $150.00 plus applicable taxes (non-refundable application fee). Upon receipt, our credit department will review the application. We will contact you once a decision is made.
If you wish to expedite the process, request a Transfer of Equity application be faxed or emailed to you, authorize a Credit Card payment by phone for $150.00 plus applicable taxes (non-refundable application fee), have the application completed by the interested party, and email it back to email@example.com.
Once approved we will prepare the required paperwork and send it to you, and the transferee, for signatures. Upon receipt of original signed transfer forms, and a cheque for the processing fee of $350.00 plus applicable taxes, we will sign and return the completed documents to you.
Depending on what type of business you are transferring to (Limited Liability Corporation, Corporation, Partnership, etc.), Daimler Truck Financial may ask you for additional documents which may include, but are not limited to:
- Continuing Guaranty
- Articles of Incorporation/Organization
- Financial Statements
Daimler Truck Financial may ask you for additional documents after the Transfer of Equity application is approved which may include, but are not limited to:
- Signed Transfer Agreement
- Signed continuing Guaranty Form
- New void Cheque
- Insurance certificate
- Cab Card Registration
- Vehicle registration or ownership
For any transfer to occur all payments must be up to date.
Transferring a current account into your business name follows a similar process. A similar fee will apply.
Once the transfer of equity is completed, the original borrower may be required to stay on the contract as a continuing guarantor based on our Credit Department's decision.
Depending on the province and/or your tax exemption status, provincial sales tax may be applicable to the transfer.
Leases and Conditional Sale Contracts require these minimum coverages:
For Lease contract, Daimler Truck Financial must be listed as Additional Named Insured. For Conditional Sale Contracts Daimler Truck
Financial must be listed as Loss Payee.
All claims due to total loss or theft must be reported to your insurance carrier and to our Customer Service Department.
If your vehicle is to be repaired due to an accident the work should be done by an authorized dealership.
If your truck is stolen, all thefts must be reported to your insurance carrier and to our Customer Service Department at 1-800- 361-4680
If your unit is declared a total loss, it must be reported to the Daimler Truck Financial Customer Service Department at 1-800- 361-4680. If you have received the insurance cheque for the total loss, you must endorse the joint-payee cheque and promptly send it to Daimler Truck Financial, Customer Service Department at:
If you're renewing, canceling or changing carriers, have your agent send a copy of your new policy or binder to Daimler Truck Financial immediately to the address below. The loss payee and additional insured names should be listed as Mercedes-Benz Financial Services Canada Corporation. Cancellation notices must be received by Daimler Truck Financial within 30 days of the effective date and mailed to Daimler Truck Financial, Customer Service Department at:
Prior to maturity of your lease, a Lease Maturity Advisor will contact you to review your lease-end options concerning your residual obligation.
Your options may include refinancing residual to an extended lease term, typically to a nominal residual value. We can also refinance the vehicle to a conditional sale contract. Both options are subject to credit approval.
For return options and details please contact our Lease Maturity Advisor at 1-800-361-4680.
ENGINE REPAIR FINANCING
Daimler Truck Financial may provide financing for a complete engine overhaul. Depending on your credit status, you may pay a certain percentage as a down payment toward the engine repairs/rebuild.
Only an authorized Freightliner, Western Star dealer or authorized repair facility for Cummins or Detroit Diesel engines may perform the engine overhaul.
The following information is required for consideration of engine repair financing by our credit department.
For qualifying customers and subject to credit approval, back payments may be rolled into the new contract.
The new payment amount is subject to the terms and conditions that the Daimler Truck Financial credit department provides upon approval.
Daimler Truck Financial does not resell its repossessed vehicles to the public. Contact your local dealership to inquire about their inventory of
Daimler Truck Financial repossessions.
Daimler Truck Financial can provide you with a yearly interest letter for the previous year on an active account. You can also obtain this information by calling the Customer Service Department at 1-800-361-4680 or submitting a request for your Year-End Interest letter. To request a Year-End Interest letter, log in to My Account and see 'Request Documents' section.
Daimler Truck Financial can provide your Year-End Balance on an active account. You can call the Customer Service Department at 1-800-361-4680 or submit a request. To request a Year-End Balance letter, log in to My Account and see 'Request Documents' section.
If you are interested in financial options including programs, terms and rates from Daimler Truck Financial please contact your local dealer by using our Dealer Locator. Our large dealer network will be able to provide you with customized solutions to meet your business needs.