For many Americans, this is a time of uncertainty, but auto manufacturers and lenders are working to help for those who need a new vehicle or are current financing customer. Volkswagen of America and Volkswagen Credit have launched the Community-Driven Promise to help eligible customers who have been impacted by the COVID-19 pandemic or need the financial cushion to replace a vehicle.
Volkswagen and Volkswagen Credit (VCI) 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 the Community-Driven Promise. The ads can be viewed here:
Customers are strongly encouraged to access and manage their account online 24/7 at vwcredit.com to request payment assistance or to extend their lease agreement.
“Our customers remain our focus,” said Anthony Bandmann, CEO and president, VCI. “We want to be a source of support and relief in these uncertain times.”
Volkswagen and VCI will also provide additional support to its more than 600 independent dealers to help them and their employees respond to the economic uncertainty. The support includes:
· A pick-up and delivery program to help customers who want to practice social distancing, but still need their vehicles brought to a participating dealership for service or repairs.
· Acceptance of digital signatures from customers for transactions such as warranty claims.
· Increased digital operations support to limit back-end physical interaction for dealer service departments.
This support comes 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.
If you need auto assistance, visit ReedHasIt.com to learn about Parts, Service and New and Pre-Owned vehicle options in the greater in Texas. Dealerships are deemed an essential business in Texas and can help with all of your auto needs, from sales to service to parts and collision repair.
