Volkswagen has launched a new program for its Australian customers, promising financial peace of mind throughout the ownership experience.
Called Volkswagen Choice, the program includes a guaranteed buy-back value on all new Volkswagens on 12-, 24-, 36- or 48-month terms.
Private customers (the program is not available to fleet purchasers) nominate a time period upon purchasing and the maximum distance they expect to cover during each year of ownership; ranging from 10,000-25,000km.
A deposit can be paid up front, or the customer can choose to pay the full on-road price. Under a leasing arrangement, the future value will determine the monthly repayments.
At the end of the term, customers can choose to trade, retain or return their vehicle, knowing the value their car will carry as per the original contract.
Trading allows a customer to roll the lease program over with appropriate adjustments to cover another new Volkswagen, while choosing to retain the vehicle requires the customer to pay the outstanding value that was agreed upon at the time of purchase - either as a lump sum, or through a new financing arrangement.
Customers can also choose to return the vehicle and ‘walk away’ from the program once the lease term expires.
Some ‘terms and conditions’ apply, naturally, such as reasonable wear and tear on the vehicle, and the owner must stay under their nominated travelling distance.
Exceeding the maximum distance doesn’t void the agreement, but it will result in a ‘excess kilometre charge’ that reduces the agreed value.
Volkswagen provides the example of a 48-month term on a $27,990 Tiguan with a 15,000km annual distance limit and a final balloon payment.
With a comparison finance rate of 8.34 percent, the customer can expect a minimum value for their Tiguan of $10,802 after the 48 months and weekly payments of $128.
Volkswagen is sweetening the deal on its new Choice program until June 30 this year, with the offer of a $1000 financing bonus.
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