Investor Report

Mercedes-Benz Auto Receivables Trust 2014-1

Collection Period Ended

Page 1 of 5

Amounts in USD

30-Nov-2017

Dates

Interest Period of the Class A-1 Notes (from... to)

Collection Period (from... to)

15-Dec-2017

Distribution Date

30-Nov-2017

1-Nov-2017

30/360 Days

Actual/360 Days

Collection Period No.

Determination Date

Interest Period of the Class A-2, A-3 and A-4 Notes (from... to)

13-Dec-2017

Record Date

14-Dec-2017

15-Dec-2017

15-Nov-2017

15-Dec-2017

15-Nov-2017

Summary

Balance

Beginning

Ending

Principal

Payment

Principal per $1000

Face Amount

Initial

Note

Factor

Balance

0.00

Class A-1 Notes

0.000000

295,000,000.00

0.000000

0.00

Class A-2 Notes

0.000000

343,100,000.00

0.000000

0.00

Class A-3 Notes

0.000000

375,870,000.00

0.000000

91,752,858.77

10,544,090.44

81,208,768.33

Class A-4 Notes

95.421633

110,500,000.00

0.734921

91,752,858.77

81,208,768.33

10,544,090.44

Total Note Balance

1,124,470,000.00

Yield Supplement Overcollateralization Amount

Adjusted Pool Balance

Overcollateralization

3,615,612.59

28,832,498.44

120,585,357.21

28,832,498.44

Pool Balance

124,631,208.18

113,656,879.36

1,202,489,808.91

1,153,299,937.71

49,189,871.20

4,045,850.97

110,041,266.77

28,829,937.71

Initial Overcollateralization Amount

Target Overcollateralization Amount

Current Overcollateralization Amount

Amount

Percentage

28,832,498.44

2.50%

28,829,937.71

2.50%

28,832,498.44

Interest Payment

Interest per

Interest & Principal

Payment

Interest & Principal Payment

per $1000 Face Amount

Interest Rate

$1000 Face Amount

Class A-1 Notes

0.180000%

0.00

0.000000

0.00

0.000000

Class A-2 Notes

0.430000%

0.00

0.000000

0.00

0.000000

Class A-3 Notes

0.870000%

0.00

0.000000

0.00

0.000000

Class A-4 Notes

1.310000%

100,163.54

0.906457

10,644,253.98

96.328090

$10,644,253.98

Total

$100,163.54

Investor Report

Mercedes-Benz Auto Receivables Trust 2014-1

Collection Period Ended

Page 2 of 5

Amounts in USD

30-Nov-2017

Net Liquidation Proceeds

Investment Earnings

Reserve Fund Draw Amount

Available Funds

Interest Collections

Purchase Amounts

Principal Collections

0.00

Advances made by the Servicer

Available Collections

11,319,188.78

Recoveries

0.00

10,816,475.51

11,319,188.78

109,533.12

121,278.49

265,552.97

6,348.69

0.00

(1) Total Servicing Fee

(2) Total Trustee Fees (max. $100,000 p.a.)

Nonrecoverable Advances to the Servicer

103,859.34

0.00

(3) Interest Distributable Amount Class A Notes

(4) Priority Principal Distributable Amount

100,163.54

0.00

(5) To Reserve Fund to reach the Reserve Fund Required Amount

(6) Regular Principal Distributable Amount

(7) Additional Servicing Fee and Transition Costs

0.00

10,544,090.44

0.00

(8) Total Trustee Fees [not previously paid under (2)]

0.00

(9) Excess Collections to Certificateholders

571,075.46

Total Distribution

11,319,188.78

Distributions

Available Funds

Distribution Detail

Paid

Shortfall

Due

0.00

103,859.34

Total Servicing Fee

Total Trustee Fee

0.00

100,163.54

0.00

Monthly Interest Distributable Amount

thereof on Class A-1 Notes

0.00

thereof on Class A-2 Notes

0.00

thereof on Class A-3 Notes

0.00

thereof on Class A-4 Notes

100,163.54

0.00

100,163.54

Interest Carryover Shortfall Amount

0.00

thereof on Class A-1 Notes

0.00

thereof on Class A-2 Notes

0.00

thereof on Class A-3 Notes

0.00

thereof on Class A-4 Notes

0.00

100,163.54

0.00

Interest Distributable Amount Class A Notes

Priority Principal Distributable Amount

0.00

Regular Principal Distributable Amount

10,544,090.44

0.00

10,544,090.44

Aggregate Principal Distributable Amount

10,544,090.44

0.00

Investor Report

Mercedes-Benz Auto Receivables Trust 2014-1

Collection Period Ended

Page 3 of 5

Amounts in USD

30-Nov-2017

Reserve Fund and Investment Earnings

Investment Earnings

Net Investment Earnings on the Reserve Fund

Reserve Fund

Reserve Fund Amount - Beginning Balance

Reserve Fund Deficiency

Reserve Fund Amount - Ending Balance

2,883,249.84

0.00

2,883,249.84

Reserve Fund Required Amount

plus top up Reserve Fund up to the Required Amount

plus Net Investment Earnings for the Collection Period

minus Net Investment Earnings

minus Reserve Fund Draw Amount

0.00

Investment Earnings for the Collection Period

Net Investment Earnings on the Collection Account

5,045.06

1,303.63

6,348.69

2,883,249.84

Notice to Investors

Mercedes-Benz Financial Services USA LLC, as Servicer, has elected to exercise its option under Section 8.01 of the Sales and Servicing Agreement to purchase the Trust Estate

(other than the Accounts) immediately after giving effect to the monthly payment of principal and interest on December 15, 2017 (the "Redemption Date") and has deposited

$ 81,208,768.33 into the Note Payment Account to redeem the balance of the Class A-4 notes. Therefore, pursuant to Section 10.01 of the Indenture, the Notes will be redeemed on

the Redemption Date.

Investor Report

Mercedes-Benz Auto Receivables Trust 2014-1

Collection Period Ended

Page 4 of 5

Amounts in USD

30-Nov-2017

Pool Statistics

Principal Gross Losses

Pool Data

1,202,489,808.91

2.54%

17.00

49.18

Cutoff Date Pool Balance

Amount

Number of Receivables

Pool Balance beginning of Collection Period

124,631,208.18

Principal Collections

Principal Collections attributable to Full Pay-offs

Principal Purchase Amounts

Pool Balance end of Collection Period

Weighted Average APR

2,930,933.19

0.00

157,853.31

113,656,879.36

13,517

14,092

Weighted Average Number of Remaining Payments

Weighted Average Seasoning (months)

As of Cutoff Date

Current

43,511

7,885,542.32

2.67%

51.92

Pool Factor

9.45%

11.34

Investor Report

Mercedes-Benz Auto Receivables Trust 2014-1

Collection Period Ended

Page 5 of 5

Amounts in USD

30-Nov-2017

Delinquency Profile

(1) A receivable is not considered delinquent if the amount past due is less than 10% of the payment due under such receivable

Total

113,656,879.36

13,517

100.00%

91-120 Days Delinquent

0.06%

72,649.76

61-90 Days Delinquent

0.21%

241,251.22

31-60 Days Delinquent

0.95%

1,081,470.38

Current

98.77%

112,261,508.00

13,390

Delinquency Profile

(1)

Amount

Number of Receivables

Percentage

Loss Statistics

Average Net Loss / (Gain)

8,139.79

Cumulative Principal Net Loss / (Gain) as % of Cutoff Date Pool Balance

Four Month Average

(0.506%)

Third Prior Collection Period

Second Prior Collection Period

Prior Collection Period

Current Collection Period

(0.712%)

Principal Net Loss / (Gain) as % of Average Pool Balance (annualized):

3,679,185.60

(70,696.63)

Principal Net Loss / (Gain)

Principal Recoveries

119,099.49

4,827,267.48

Principal Net Liquidation Proceeds

109,450.45

1,342,189.65

Principal Gross Losses

157,853.31

9,848,642.73

452

Losses

(1)

Amount

Number of Receivables

Amount

Current

Cumulative

0.306%

(1) Losses includes accounts that have been charged off with a balance remaining of less than $50. These accounts are excluded in the Number of Receivables count as they are not

considered a charge-off on a defaulted loan.

(0.525%)

1.201 %

(1.987%)

Mercedes-Benz Auto Receivables Trust 2014-1 10-D