Volkswagen Finance

digitalphase

Just got a couple of questions directed at those who have bought a brand new VW.

1) How hard/easy is it to get the finance?
2) How do they work out the payments. Do you put down a deposit then pay x amount over 3 years? What happens then?
3) Would you do it again?

Thanks.

Oh, and this question could also apply to buyers of Seats/Audis/BMWs as I suppose the variant wouldn't be too great.

Clive_Woody

My previous car (SEAT Ibiza) was purchased using a 3 year 0% finance deal with VW finance. I think I payed something like a 30% deposit then the remainder of the balance over 3 years. I have no complaints with how it was handled. There was no issue with my acceptance, but I have never had a problem with getting credit.

I recently purchased a new Skoda Octavia (once again through VW finance). This is a 2 year 0% finance deal with a 50% deposit. Once again no issue with acceptance and all the paperwork came through no problem.

Once the finance deal is up the car is yours to keep. Both of my deals have no final payments or release fees, all very simple and straight forward.

digitalphase

Thanks for your reply Clive

Do you know if they do a longer term than 3 years at all? Or would I have to arrange a separate loan after that time to continue with the car?

I am looking to keep the car for at least 5 years, so if I could pay it off over 5 years it would suit me better.

ILW

Speak to a dealer or two, will give you all the options.

eschaton

http://www.volkswagen.co.uk/finance/offers

This should answer some for you.

How hard it is will depend on your personal financial circumstanes and how much deposit you will be making at the start.

Clive_Woody

digitalphase wrote: »

Thanks for your reply Clive

Do you know if they do a longer term than 3 years at all? Or would I have to arrange a separate loan after that time to continue with the car?

I am looking to keep the car for at least 5 years, so if I could pay it off over 5 years it would suit me better.

The 0% finance deals currently all seem to be around the 2yr with 50% deposit level, but interest paying deals may run longer. Best bet is to go to dealership and ask what they can offer.

One thing to consider is that the car warranty may only be for 3 years so with 5 years or repayment worst case scenario is you are still paying for the car after it has died (unlikely I admit, but something to consider).