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VW Finance payment holiday

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whoopee. VW Finance have accepted me as part of their payment deferral scheme. I have the offer of a 3 month repayment holiday and they have issued a new agreement increasing the APR on my original agreement which takes my current monthly payment of just under £600 to just over £720 a month for the remaining 22 months of my original agreement. Thank you VW. 

Comments

  • Most of the £120 pcm charge will be the result of having to increase the monthly payments to cover the £1,800 you are not paying over the next three months. There is no such thing as a free lunch.
  • bradders1983
    bradders1983 Posts: 5,684 Forumite
    1,000 Posts Third Anniversary Name Dropper
    No lender made a secret that payments after payment holidays would have to go up to cover the extra interest. 
  • diggingdude
    diggingdude Posts: 2,492 Forumite
    Seventh Anniversary 1,000 Posts Name Dropper Photogenic
    disgrace....take them to court for compo
    An answer isn't spam just because you don't like it......
  • Thrugelmir
    Thrugelmir Posts: 89,546 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Photogenic
    Don't take the holiday if have no need. 
    Next time choose a cheaper car.  ;)
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