Volkswagen India introduces leasing, flexible financing options to drive sales amid COVID-19

PTI, May 27, 2020, 1:29 PM IST

New Delhi: Volkswagen India on Wednesday introduced leasing options and flexible financing instruments for purchase of its vehicles with an aim to drive sales in a market battered by COVID-19 disruptions.

Under its omnichannel mobility solutions, the company has integrated ‘Power Lease’ – a ‘pay-for-usage’ model complete with zero down payment scheme – with Volkswagen Secure which allows customers to purchase a Vento or a Tiguan Allspace model with flexible down payment and low EMI, including insurance coverage for a tenure of three or four years.

Commenting on the omnichannel mobility initiative Volkswagen Passenger Cars India Director Steffen Knapp said, “with the prevailing economic situation, we, at Volkswagen would like to offer customers financial prudency through our omnichannel mobility program.”

The Volkswagen Secure and Power Lease initiatives provide customers with the power and independence to purchase their favourite Volkswagen in a hassle-free, contactless and digitalised manner, he added. In the current scenario, wherein accessible individual mobility is on the rise, these solutions will reduce the financial strain on customers, the company added.

Through Volkswagen Power Lease, a customer can access all Volkswagen BS-VI cars and avail ‘pay-for-usage’ model complete with zero down payment, low rental charges, insurance coverage and flexible maintenance option across varied tenure period of two, three and four years, the statement said.

Customers will have the option for either wet lease or dry lease. While wet-lease covers all maintenance cost and offers buy-back at the market value of the car; under dry lease customer will have to bear the maintenance cost and the buy-back will be available only at a pre-determined value.

Power Lease also enables a customer upgrade to other Volkswagen models, avail tax benefits depending on the customer’s financial preferences while providing lucrative buy-back/retain options, it added.

As part of Volkswagen Secure, the customer will also get guaranteed residual value along with an assured buy-back option. The customer may also choose to retain the car/upgrade to another model with refinancing options available from Volkswagen Financial Services, the company said.