Volkswagen Finance Programs

Foreign College Student Plan

Volkswagen Credit will extend credit to foreign students who are enrolled in colleges in the United States.

 

Eligible Vehicles

• Any new and Pre-Owned Volkswagen vehicles
• Volkswagen Certified Pre-Owned vehicles (Retail Financing only)

Eligible Programs

• Retail Financing
• Driver's Option
• Leasing 

Requirements

The dealer must provide the following information for each applicant prior to approval:

• Customer must be enrolled in a 2- or 4-year accredited U.S. college or university pursuing one of the following degrees:
• Associate's
• Bachelor's
• Master's
• Doctoral
• Nursing degree (RN or LPN)
• Current I-20 form (Certificate of Eligibility for Non-immigrant Student Status)
• Copies of three months of bank statements or other documentation that substantiates stability of funds flow over time
• Must provide phone number of school's Registrar's Office
• Confirmation from school showing anticipated graduation date
• Confirmation of residence and telephone prior to approval
• Copy of Visa showing expiration date (with photo blacked out)
• Lease or loan maturities will be limited to the anticipated graduation date as stated on the I-20 form documentation furnished by the applicant's school
• Qualification under this program is subject to verification prior to approval
• Social Security # not required

 

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First Time Buyer Program

Hendrick Volkswagen of Concord helps first time buyers to drive a new or pre-owned vehicle!

Eligible Vehicles

• Any New Volkswagen vehicles
• Any Pre-Owned Volkswagen vehicles
• Volkswagen Certified Pre-Owned vehicles (Retail Financing only)

 *Retail Customers only - First time Buyer plan does not apply to leases or Driver's option.

Requirements

 The dealer must provide the following information for each applicant prior to approval:

• Customer must never have had automotive credit
• Monthly payment may not exceed 18% of gross monthly income
• Minimum one year of verifiable full-time employment with current employer with income commensurate with all financial obligations. A contact name and phone number within the Payroll or Human Resources Department of the applicant’s employer must be provided
• Minimum one year residence in dealer’s market area, renting or living with parents is allowed
• No credit history required; however, established history must be in good standing with no previous derogatory credit
• Three verifiable personal references; one must be a relative
• Qualification under this program is subject to verification prior to approval

Please include the following when submitting the credit application:

• Proof of income
• Proof of Residency
• Copy of Social Security Card
• References

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Foreign Business Professionals Plan

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Business professionals from foreign countries who are working in the United States may be eligible for financing through Volkswagen Credit. The contract length will be limited to the length of stay in the United States, governed by the applicant's Visa, employment letter, employment contract, Permanent Resident Card or I-94 form.

Eligible Vehicles

• Any New and Near New Volkswagen (see Near New Vehicle Definition)
• Volkswagen Certified Pre-Owned vehicles (Retail Financing only)

 

Eligible Programs

• Retail Financing
• Driver's Option
• Leasing

Requirements

To be considered for this program, the dealer must provide the following information for each applicant prior to final approval and funding:

• Letter from employer stating applicant's position, hire date, income and length of stay in the United States. Applicant must provide a contact name and phone number for someone in the Payroll or Human Resources Department of the applicant's employer or future employer
• At the time of the credit decision, a copy of the applicant's United States Social Security card or copy of a letter from the Social Security Administration including the assigned Social Security number. This must be provided at the time of application
• Copy of Visa with expiration date (with picture blacked out). For applicants who plan to extend their stay beyond the date shown on their Visa, we will accept the length of stay in the U.S. shown on the applicant's employment letter, employment contract, Permanent Resident Card, or I-94 form in order to determine the specific finance terms
• Monthly payment may not exceed 25% of the gross monthly income
• Minimum gross income of $45,000 per year
• Verification of residence and phone number. *Qualification under this program is subject to verification prior to final approval and funding

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German Diplomat Program

Volkswagen is proud to announce that it will offer financing of Volkswagen models for German Diplomats that qualify under the Volkswagen Diplomat Program. retail loan and lease programs are available. To qualify for financing, customers must provide:

• A copy of a Diplomatic passport clearly showing the word "DIPLOMAT", Counselor D Service Card with official letter of relocation from home country 
  OR
• US Government issued G-1 or A-1 Visa
• In addition diplomats will be required to show proof of income and length of assignment to the Embassy of the Federal republic of Germany

Volkswagen Credit will provide terms that coincide with the length of assignment with the Embassy.

 

Military Assistance Corporation

We subscribe fully to the Military Assistance Corporation (MAC). This program is designed to simplify the payment process for military personnel financing the purchase of new vehicle with Volkswagen Credit. A full-time Federal Civil Service employees are eligible for allotment payments through MAC.

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