Financial Services

Financial Services

A

An administrative fee charged on leases.

The amount financed in a lease.

The dollar amount that you are financing, calculated by subtracting the down payment from the purchase price inclusive of fees. When you are leasing, the amount financed is called the Adjusted Capitalized Cost.

APR is the yearly cost of a loan, including interest, insurance, and the origination fee. It is expressed as a percentage.

C

Valuable maintenance services designed to help keep your vehicle qualified for warranty protection.

The most common type of vehicle lease, whereby the lessee is responsible for satisfactorily maintaining the vehicle during the lease term. At the end of the lease term, the lessee can exercise a purchase option if it is written in the agreement or turn in the vehicle. Also called a Walk-Away Lease or a Non-Participating Lease.

Additional coverage offering up to an additional 100,000 miles for Certified Pre-Owned vehicles. Can be added to the cost of your financing plan.

A number, roughly between 300 and 800, that measures an individual's credit worthiness. Generally speaking, the higher the number, the more credit worthy.

A way for financing companies to group together credit scores for the purpose of simplifying the credit application process.

D

Unlimited repair of dents and dings with no out-of-pocket expenses (exclusions and limitations apply).

The Volkswagen Drive Easy Program, available at participating Volkswagen dealerships, includes the following vehicle protection products: Vehicle Service Contract Plan, CPO Service Contract Plan, Term Care Select, Guaranteed Asset Protection (GAP) Plan, Lease Excess Wear Protection, Road Hazard Tire & Wheel, Car Care Service Plan, Car Care Upgrade Service Plan, and Ding Shield Service Plan.

E

Ending a lease contract sooner than the contracted length of the lease. May incur additional charges and fees.

A fee imposed when actual mileage on a leased vehicle exceeds the contractual agreement for miles when the vehicle is turned in.

G

Designed to supplement your primary car insurance and cover the value of your vehicle if it is totaled in an accident.

M

An acronym for Manufacturer’s Suggested Retail Price, it’s what the Volkswagen (manufacturer) recommends to the dealer as a vehicle selling price.

Our customized vehicle insurance offers guaranteed rates, additional safety discounts, and Roadside Assistance. Limitations apply.

P

A vehicle that has been previously owned or leased.

R

The future value of a vehicle at the end of a lease, also used to determine lease payments.

Provides for the repair or replacement of tires and wheels damaged by road hazards.

S

For leased vehicles only, the amount paid at the beginning of a lease that is returned when the vehicle is turned in, less what is owed for excess mileage and wear and tear.

T

The length of a lease or finance contract, expressed in months.

Comprehensive protection for almost every component of your vehicle, covering routine maintenance services and mechanical breakdowns with $0 deductible. Designed to protect items that the manufacturer's warranty may not cover. (Limitations, restrictions, and/or exclusions apply).

For leased vehicles only, a fee to cover the costs of preparing your vehicle for resale after it has been turned in at the end of a lease.

V

Additional coverage offering up to an additional 100,000 miles for new vehicles. Can be added to the cost of your financing plan.