How do I Finance a New Volkswagon Vehicle?

You can finance a new Volkswagen vehicle either at the Volkswagen dealership through Volkswagen Credit or another lender that the dealer uses. You also can finance the purchase on your own through an outside lender. Research and choose the best interest rate available, which can save you thousands in the long run. Be sure to check Volkswagen Credit financing options available for new cars. You might be able to take advantage of low rates, such as a zero-percent finance opportunity.

Instructions

1

Go to Volkswagen's website (see Resources). Go to "Shopping Tools," located on the top right-hand menu or the Web page and select "Special Offers" from the drop down menu. Input your ZIP code to view local deals and determine if you want to use Volkswagen Credit to take advantage of the rates you see (this is handled at the dealership).

2

Contact a local lender, such as your current bank or credit union, which often offers competitive rates, if you do not want to use Volkswagen Credit or the dealership. If you find better rates at one of these institutions, apply at that location.

3

Apply for a loan by filling out a credit application. Give your Social Security number, date of birth, address, salary and employment information.

4

Wait for your approval. If you are applying at a dealership, your approval often is given within the hour, since the submitting process is done electronically online. If you are applying through a bank outside the dealership, the waiting period can take several days. At a dealership, dealer personnel handle all of your banking contract details. With an outside lender, you need to supply the bank with a buyer's order (provided by your dealer), which lists your total vehicle cost and all vehicle identification information.

5

Call your insurance agent to add your vehicle to your policy. You must have full coverage insurance on a financed vehicle. Obtain proof of coverage and have it faxed or bring it to the bank or dealership providing your loan. Proof of insurance is required to complete the loan process.

6

Sign all of your contract paperwork, confirming that the term, payment and amount borrowed is correct before completing the paperwork. If doing this at a bank, receive your check to pay the dealership. If at the dealer, sign all of your contract paperwork. In many cases, Department of Motor Vehicle paperwork is provided by the dealership, and you do not have to go the agency itself.

7

Confirm that your car is clean and without scratches or dents. Make sure you get two sets of keys and an owner's manual. Your dealer representative will put your plates on the vehicle before you leave in your new car.