Volkswagen offering payment relief, lease extensions to customers
Jobless rates are soaring due to the COVID-19 outbreak and Volkswagen wants its customers' pocketbooks to feel less of a pinch during this trying time.
Volkswagen of America and Volkswagen Credit will defer payments for up to 90 days for existing VCI customers affected by the economic crisis. Additional payment assistance options for customers in good standing include:
- Up to 90-day payment deferrals without fees (VCI will not charge any fees but finance charges will still accrue for non-lease accounts)
- Lease extensions up to six months
- Waiving past maturity fees in certain circumstances
Volkswagen and VCI are giving qualified new buyers the option of delaying their first payment for up to 180 days combined with zero-percent APR financing for up to 72 months for most new vehicles. The program is set to run through April 30.
"We know this pandemic has caused significant stress and worry across America, and is putting financial strain on millions of households," said Scott Keogh, CEO of Volkswagen of America. "We have a commitment to help our customers, our dealers, our employees and our communities in a time of crisis."
Volkswagen will launch an ad campaign in English and in Spanish to raise awareness of their new Community-Driven Promise campaign.
VW | Community-Driven Promise www.youtube.com