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Mercedes-Benz Financial Services Korea Criticized for Predatory Lending Practices

SEOUL, Nov. 24 (Korea Bizwire) — Mercedes-Benz Financial Services Korea (MBFSK), the South Korean unit of Mercedes-Benz Group AG’s financial and mobility services division, is being criticized for predatory lending practices. It has been pointed out that MBFSK is offering high-interest-rate loans to new customers after borrowing at low interest rates from its German headquarters. [...]

Volkswagen Korea Criticized for Offering Faster Delivery to Its Auto Loan Customers

SEOUL, Sept. 29 (Korea Bizwire) — Criticism is mounting over Volkswagen Korea, which is allegedly delivering its brand-new model faster to customers who obtain financing from its auto finance service with an annual interest rate of more than 7 percent. According to industry sources, Volkswagen Korea’s official dealers are informing customers who make reservations for [...]