Volkswagen expands payment relief options for new customers
Apr 16, 2020
- Volkswagen and Volkswagen Credit will waive up to six months of payments for qualified new customers who lose their jobs
- Zero percent APR financing for 60 months on most Certified Pre-Owned VW models
Herndon, VA — Volkswagen of America and Volkswagen Credit (VCI) today announced an expansion of the Community-Driven Promise including new payment assistance for eligible customers who lose their job due to economic reasons.
For qualified customers who purchase a new vehicle and lose their jobs due to economic reasons, VCI will waive up to six months of payments, up to $750 per month, providing some financial relief in these uncertain times.
“This global pandemic and the economic uncertainty that came with it has many of us facing difficult choices and we don’t want purchasing a new vehicle to be one of them," said Scott Keogh, president and CEO, Volkswagen Group of America. "We want our customers to know that if the unexpected happens, we're here to help.”
This job loss payment assistance applies to customers who purchase a new vehicle and finance the purchase through Volkswagen Credit, and is not currently available in New York. To be eligible, customers must be receiving unemployment benefits, and the unemployment must occur for economic reasons after the first 90-days of ownership. Customers must also have been employed on a full-time basis at least 12 consecutive weeks prior to the unemployment. The benefit expires 12 months from date of purchase. Other conditions and limitations apply. For more details about the job loss payment assistance component of the Community-Driven Promise, visit VW.com/the-community-driven-promise/.
Also as part of the Community-Driven Promise announced April 3, Volkswagen is giving highly qualified new buyers the option of delaying their first payment for up to 180 days and is offering zero-percent APR financing for up to 72 months for most new vehicles. The program is set to run through April 30.
Volkswagen is also making it easier to purchase a Volkswagen Certified Pre-Owned vehicle with zero percent APR financing for 60 months for highly qualified customers through VCI. This offer ends June 30, 2020.
Volkswagen recently launched an ad campaign in English and in Spanish to raise awareness of the payment-relief offers. The ads can be viewed here:
Existing VCI customers who need help are strongly encouraged to access and manage their account online 24/7 at vwcredit.com to see what options may be available. Volkswagen and Volkswagen Credit (VCI) will defer payments for up to 90 days for existing VCI customers affected by the economic crisis. No late fees will be charged, but interest will continue to accrue for loan accounts. Lease extensions will also be available for up to six months with payment reduction rebates for customers who extend their lease three months or more.
All of these relief options come on top of Volkswagen’s existing four-years or 50,000-mile (whichever occurs first), New Vehicle Limited Warranty and the Carefree Maintenance program. That program offers two years or 20,000 miles (whichever occurs first) of scheduled maintenance at no additional charge.
Founded in 1955, Volkswagen of America, Inc. is an operating unit of Volkswagen Group of America and a subsidiary of Volkswagen AG, with headquarters in Herndon, Virginia. Volkswagen’s operations in the United States include research and development, parts and vehicle processing, parts distribution centers, sales, marketing and service offices, financial service centers, and its state-of-the-art manufacturing facility in Chattanooga, Tennessee. The Volkswagen Group is one of the world's largest producers of passenger cars and Europe's largest automaker. Volkswagen sells the Arteon, Atlas, Atlas Cross Sport, Golf, Golf GTI, Jetta, Jetta GLI, Passat, and Tiguan vehicles through more than 600 independent U.S. dealers. Visit Volkswagen online at www.vw.com or media.vw.com to learn more.
“VW”, “Volkswagen”, all model names and the Volkswagen logo are registered trademarks of Volkswagen AG.
JOB LOSS PAYMENT ASSISTANCE NOT AVAILABLE IN NEW YORK AT THIS TIME. Available when financing the purchase of a new, unused Volkswagen vehicle through Volkswagen Credit and participating dealers between April 15, 2020 and April 30, 2020. To be eligible, account must be active and in good standing at the time of unemployment, primary vehicle owner must have been employed on a full-time basis at least 12 consecutive weeks prior to date of unemployment, been unemployed for a minimum of 30 days, and must be receiving unemployment benefits from the recognized private or governmental agency in applicable state. Additional eligibility restrictions apply and must provide proof of involuntary unemployment. Individuals who become unemployed within 90 days of finance contract date or more than 12 months after are not eligible. Waiver limited to no more than 6 monthly payments, up to $750 a month and up to $4,500 total. Customer responsible for any payment amount in excess of the maximum. Not available on leases. Not available for cash. Volkswagen employees and anyone receiving termination or severance pay are not eligible. This is only a summary of the Program, please read the Involuntary Unemployment Payment Waiver Program Terms and Conditions (available through participating dealers) for complete details.
Financing and payment deferral offer is available to highly qualified customers on new, unused 2019 and 2020 Volkswagen models financed by Volkswagen Credit through participating dealers only. Example: For 0% APR, monthly payment for every $1,000 you finance for 72 months is $13.89. No down payment required. Other amounts may be due at signing. Not all customers will qualify for credit approval or advertised APR. Limited to two offers per household. May not be combined with certain other offers. Not available on lease offers. We will schedule your first payment exactly 180 days from the date of the contract. Dealer sets actual price. Excludes business customers. Offers not valid in Puerto Rico. See your Volkswagen dealer for details or, for general product information, call 1-800-Drive-VW.
4 years/50,000 miles (whichever occurs first) New Vehicle Limited Warranty on MY2020 VW vehicles. See owner’s literature or dealer for warranty exclusions and limitations.
0% APR, no down payment required, available on all Volkswagen Certified Pre-Owned (“CPO”) models, excluding 3.0L TDI models, financed by Volkswagen Credit through participating dealers. Example: For 0% APR, monthly payment for every $1,000 you finance for 60 months is $16.67. Not all customers will qualify for credit approval or advertised APR. Offer ends June 30, 2020. Offer not valid in Puerto Rico. See your local, participating Volkswagen dealer for details or, for general product information, call 1-800-Drive-VW.
VW’s Carefree Maintenance program provides the 10,000- and 20,000-mile scheduled maintenance services or scheduled maintenance services for two years (whichever occurs first) as stated in the vehicle’s maintenance booklet on MY2020 VW vehicles . See dealer or owner’s literature for provided services, exclusions, and time and other limitations. The Carefree Maintenance program does not provide tire rotations, or other services or parts not specified in the owner’s literature.