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  • Volkswagen Finance is Rated as "Excellent!" by 10 Users

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    Volkswagen Finance

    Making your journey to owning a Volkswagen car easy and convenient, Volkswagen Finance offers world class car financing solutions to Indian customers. Leveraging the ‘Volkswagen Advantage’ customers can procure loans with quick approvals, fast processing and an assurance of complete transparency from the financier. With a completely customer-centric approach, Volkswagen offers exciting car financing deals with attractive interest rates and flexible repayment options. Customers can obtain car financing from any authorized VW dealership with minimal documentation procedures for all models of Volkswagen cars.


    Features and Benefits of Volkswagen Finance Car Loan

    As a preferred financier, Volkswagen aims to provide innovative car financing solutions loaded with attractive features to customers choosing to buy any type of VW sedan or hatchback. Volkswagen Finance processes a car loan after receiving the required documentation post sanction and then disburses the approved loan amount.

    Quantum of loan - Volkswagen Finance sanctions up to 90% of the value of the car purchased for salaried professionals and up to 85% for self-employed businessmen.

    Processing Fees

    Loan Amount

    Processing Fees

    Below Rs 5 lakhs

    Rs.3,379

    Between Rs 5 lakhs and Rs 10 lakhs

    Rs.3,387

    Above Rs 10 lakhs

    Rs.4,565

    Documentation Charges - Rs 350

    All fees and charges are subject to the Goods & Service Tax as applicable.

    Loan Tenure - Borrowers can choose from flexible loan tenures ranging from 1 to 5 years.

    Security - No additional collateral or security needs to be provided while applying for a Volkswagen Finance car loan and the company only requires the car to be hypothecated to Volkswagen Finance Private Limited. A personal guarantor is also not required.

    Repayment - Repayment of the car loan can be done in monthly installments through post-dated cheques or through ECS debits available in select cities.

    Prepayment charges - Part-repayment of the Volkswagen Finance car loan is allowed only twice in the entire loan tenure and the sum repaid should be equal to 3 monthly installment amounts.

    Full Pre-payment charges

    Within 24 months from the sanction date

    3% of the outstanding principal

    After 24 months

    1.5% of the outstanding principal

    Part-repayment charges

    2 % of the prepaid amount

    Late Payment Penalty - Volkswagen Finance imposes a late payment penalty for delays in payments of monthly installments and this amount varies from customer to customer.

    Other charges

    Types

    Charges

    Change in contract tenure

    Rs. 5000

    Change in Agreement

    Rs. 2500

    Loan cancellation charges

    Rs. 5000

    Loan account statement

    Rs. 250

    Change or addition of guarantor

    Rs. 5000

    NOC for commercial to personal usage

    Rs. 2000

    Interest On default payments

    0.1% per day plus applicable GST

    Charges per cheque / ECS bounce

    Rs. 500 per instance

    Cheque / repayment mode swap charge

    Rs. 500

    Legal, repossession and incidental charges / Stamp duty charges

    At actual

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    Volkswagen Finance Car Loan Eligibility

    Salaried Professionals

    Applicants need to be at least 21 years old to be eligible to apply for a Volkswagen Finance car loan.

    Car Value up to Rs 10 lakhs -

    • The gross annual income required is Rs.2 lakhs and the individual should have been employed for a period of at least three years.

    Car Value between Rs 10 lakhs and Rs 20 lakhs -

    • The gross annual income required is Rs.3 lakhs and the individual should have been employed for a period of at least three years.

    Car Value of Rs 20 lakhs and above -

    • The gross annual income required is Rs.5 lakhs and the individual should have been employed for a period of at least three years.

    Self-employed Businessmen

    Car Value up to Rs 10 lakhs -

    • The gross annual income required is Rs.1 lakh and the individual should have been in business for a period of at least 2 years.

    Car Value between Rs 10 lakhs and Rs 20 lakhs -

    • The gross annual income required is Rs.3.50 lakhs and the individual should have been in business for a period of at least 5 years.

    Car Value of Rs 20 lakhs and above -

    • The gross annual income required is Rs.5 lakhs and the individual should have been in business for a period of at least 7 years.

    Documentation required for Volkswagen Finance Car Loans

    Identity Proof

    • Salaried Professionals - Passport / PAN Card / Driving License/ Employee ID issued by the Government of India

    • Self Employed - Passport / PAN Card / Driving License / ST registration

    • Partnership Firms - Latest Sales Tax Assessment Order / Partnership Deed / ST registration Certificate / Identity proof of signing partners / GST assessment certificate ( if required).

    • Limited Companies - ST Registration Certificate / MOA and AOA / Identity proof of signing directors.

    Address Proof

    • Salaried Professionals & Self Employed - Passport / Telephone bill / Lease Agreement / Utility Bill / Bank Statement

    • Partnership Firms - Electricity Bill / Water Bill / Telephone bill / Address proof for signing partners

    • Limited Companies - ID proof should carry the current address of the firm. / Address proof of directors

    Others Documents

    • Salaried Professionals - Last three months’ payslips / Form 16 / IT returns

    • Self Employed - ITR for the last 2 years / Balance sheet and P&L account statements / computation of income / Audited ITR with annexures (if available)

    • Partnership Firms & Limited Companies - Income proof - Audited Balance Sheet / Profit & Loss statement / Computation of income / Audited ITR with annexures (if available)

    Additionally the applicant’s bank account statement for the past six months should be furnished. All the copies submitted should be self-attested by the applicant.

    Perfect Car Loan Deals for you

    Why choose Volkswagen Financial Services?

    Here are some reasons why Volkswagen Finance is one of the most preferred non-banking financial companies amongst customers for auto loans:

    • Loan amount: Customers can get an auto loan of up to 90% of the value of the car (on-road price of the Volkswagen car models).
    • Loan repayment: Volkswagen offers flexible loan repayment options which makes it easier for borrowers to repay their auto loans.
    • Loan approval: Lenders compete with each other to offer excellent services in order to attract and retain customers in terms of easy documentation, faster loan processing, and instant loan approval.
    • Financing solutions: With the advent of technology, Volkswagen Finance offers innovative financing solutions to customers in an effort to facilitate easy access to auto financing.
    • Auto loan interest rates: Usually, customers prefer a lender who offers low-interest rate auto loans. Volkswagen Finance offers new and used car loans at attractive interest rates. The rate of interest on an auto loan depends on the loan amount, loan tenure, and the eligibility of the customer.
    • Loan tenure: It is important to choose a suitable loan tenure for the repayment of your car loan as it determines how much you save or spend on overall interest payments. A short loan tenure usually means higher EMIs and lower interests whereas a long loan tenure means lower EMIs and higher interests. Calculating the car loan EMI can help you choose a suitable loan tenure. Volkswagen Finance offers long tenure funding for the purchase of your dream car.
    • Customised loan products: Volkswagen Finance offers customised loan products to suit the varying needs of the customers. What’s more, the NBFC also offers world-class customer service.
    • Motor insurance: Volkswagen Finance Private Limited in partnership with Bajaj Allianz General Insurance Company offers a unique motor insurance plan. The motor insurance policy not only covers your vehicle but also provides extended warranty and depreciation shield, ensuring you have a peaceful driving experience, every single time.

    Volkswagen Finance Car Loan Eligibility Calculator

    Before applying for a car loan, finding out whether you meet the eligibility criteria set by the lender can help you avoid rejection. Multiple loan rejections can have a negative effect on your credit score, which in turn, can affect your future loan prospects. Volkswagen Finance offers a free online car loan eligibility calculator which is simple and easy to use. All you have to do is enter your personal details into the tool such as your name, city, state, age, number of years in residence, number of years of work experience, occupation, and net annual income. After entering the details into the Volkswagen Finance car loan eligibility calculator, click on the 'calculate' button to find out if you are eligible for auto financing.

    Volkswagen Finance Car Loan EMI Calculator

    Calculating your car loan EMI can help you find out how much your car loan will cost you on a monthly basis. Volkswagen Finance offers a free online car loan EMI calculator which is simple and easy to use. All you have to do is enter your car loan details such as the make and model of (Volkswagen) car to be purchased, state, city, down payment, and loan tenure. The interest rate and loan amount will be automatically collated depending on the price of the car and the down payment. The Volkswagen Finance car loan EMI calculator will give you a breakdown of the down payment, principal loan amount, and the EMIs over the specified loan tenure.

    How to apply for Volkswagen Finance Car Loan?

    The car loan application process at Volkswagen Finance is not only convenient and fast but also flexible with minimal documentation. A representative of Volkswagen Finance will meet you at the VW dealership to assist you with the car loan application process. The car loan will be processed after the receipt of post-sanction documents at the Volkswagen Finance Central Office. As soon as the loan amount is disbursed to the dealer, you can pick up your dream Volkswagen car at the dealership. You must submit a copy of the motor insurance policy, Registration Certificate, and Invoice to Volkswagen Finance. You have the option to cancel your loan application before the loan amount is disbursed by informing the VWFPL representative or sending a written request to the lender. Loan cancellation charges are applicable.

    Volkswagen Finance Car Loan Repayment

    Volkswagen Finance offers flexible and hassle-free repayment options to its customers. The loan tenure ranges from 1 to 5 years for new car loans. EMI payments can be made through Post-Dated Cheques (PDCs). You also have the option to pay overdue through Paytm. In the case of a change in repayment mode, the NBFC will charge you a nominal fee of Rs.500.

    Volkswagen Finance Car Loan FAQs

    1. What makes and models of cars can I purchase using Volkswagen Finance car loans?
    2. Only Volkswagen manufactured cars can be purchased using a car loan obtained from Volkswagen Finance.

    3. What is maximum loan tenure offered by Volkswagen Finance?
    4. The repayment tenure for a new car loan from Volkswagen Finance ranges from 1 to 5 years.

    5. How to apply for a Volkswagen Finance car loan?
    6. Visit any of the authorised Volkswagen car dealerships in the country and a representative of Volkswagen Finance will approach you to guide with the car loan application process.

    7. Is a guarantor required to obtain a car loan from Volkswagen Finance?
    8. No, a guarantor or collateral is not needed to get an auto loan from Volkswagen Finance. For security, the VW car to be purchased using the car loan will be hypothecated to Volkswagen Finance.

    9. Is car loan foreclosure allowed at Volkswagen Finance?

    Yes, you can foreclose your car loan before the end of the loan tenure. A foreclosure fee of 3% on the outstanding principal amount plus GST will be levied if the loan is closed within 24 months of taking the loan.

    Volkswagen Car Finance Reviews

    • Volkswagen Finance Car Loan
      "Very Good Service"
      0.5 4.0/5 "Great!"
      It was a good experience i had with this loan where the process in getting this loan has been hassle free. The loan amount whcih they had given has been satisfactory and the interest rate also had been nominal when compared with the market rate and there has not been any additional charges made by them.
      Was this review helpful? 0
      , bangalore
      Reviewed on Oct 25, 2018
    • Volkswagen Finance Car Loan
      "Average service"
      0.5 3.0/5 "Satisfactory"
      I have taken a car loan from Volks Wagen finance and my loan experience was not up to the mark. The loan amount was for Rs 5.6 lakhs with nominal interest rate when compared to all other sources. There are lot of charges on this loan and the tenure period for this loan is 5 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on May 20, 2018
    • Volkswagen Finance Car Loan
      "Best Service"
      0.5 5.0/5 "Blown Away!"
      I have taken a car loan with Volkswagen Finance and my loan experience was good. The loan amount was for Rs 9 lakhs with nominal interest rate when compared to all other sources. My loan amount was based on the on-road price. Customer service was good, they followed up on time and the tenure of this loan is 6 years.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Apr 05, 2018
    • Volkswagen Finance Car Loan
      "Recommentable for car loan"
      0.5 4.0/5 "Great!"
      I have taken a car loan from VOLKSWAGEN FINANCE. With in 2 days i got my loan amount approved. The total disbursed amount was 4.5 lakhs with a rate of interest of 8.5%. If i have planning for a Pre closure within 24 months then 3% of the principal outstanding amount should be paid and if we are closing the loan after 24 months then 1.5% of the outstanding amount. The monthly EMI is 9234.
      Was this review helpful? 0
      , coimbatore
      Reviewed on Nov 18, 2017
    • Volkswagen Finance Car Loan
      "Its Recommendable"
      0.5 4.5/5 "Excellent!"
      I purchased Volkswagen Ameo car, hence Volkswagen finance gave me best car loan offer in the market, their customer service is good within six hours they approved my loan and interest rate was also and sanctioned 100% of loan on ex showroom with good tenure period.
      Was this review helpful? 0
      , hyderabad
      Reviewed on Oct 27, 2017
    • Volkswagen Finance Car Loan
      "Very Good service"
      0.5 5.0/5 "Blown Away!"
      I got the car loan from VOLKSWAGEN FINANCE. They have disbursed my car loan within 2 weeks of time. The customer service and the response is very good with Volkswagen. The rate of interest is nominal with Volkswagen, they also have the diminishing rate of interest. I am happy and satisfied with the loan amount.
      Was this review helpful? 0
      , kozhikode
      Reviewed on Jul 27, 2017
    • Volkswagen Finance Car Loan
      "Very good experience"
      0.5 5.0/5 "Blown Away!"
      I had taken the car loan from Volkswagen finance. I got an interest rate of 9.35% and there was a processing fee of Rs.1200. The processing and documentation was pretty smooth and easy and I got a good rate as well. The overall customer experience is excellent and recommendable.
      Was this review helpful? 1
      , new delhi
      Reviewed on Mar 28, 2016
    • Volkswagen Finance Car Loan
      "Experience was good"
      0.5 5.0/5 "Blown Away!"
      VOLKSWAGEN FINANCE has provided me 90% funding on my vehicle on the ex -showroom prize. I personally selected this company for he car loan. The executive has visited me for the documents collection. With in 7 days I got this loan from this company.
      Was this review helpful? 1
      , bangalore
      Reviewed on Nov 30, 2015
    • Volkswagen Finance Car Loan
      "Happy Loans!"
      0.5 5.0/5 "Blown Away!"
      Volkswagen Finance is giving finance upto 100% for the vehicles and the interest rate is very low, which is 7-9% with them. The executives are very responsive and they are providing a maximum tenure of 7 years. They are having different offers of financial options available with them.
      Was this review helpful? 1
      , nagpur
      Reviewed on Sep 21, 2015
    • Volkswagen Finance Car Loan
      "Good"
      0.5 4.0/5 "Great!"
      It took nearly 2 days for my car loan to get disbursed from the Volkswagen Finance company. The paper work was quite convenient and the best part about this company is the structure of dealing and to provide a better interest rates to the customers when compared to the other banks.
      Was this review helpful? 0
      , gurgaon
      Reviewed on Jul 24, 2015
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