Central Volkswagen Financing Options
Are you in need of a new vehicle? Does your financial situation make it difficult to obtain the car you want and deserve? At Central Volkswagen, we offer financing options that can meet your needs and budget so you can get the car you love. Moreover, our finance team at our VW dealership near Plainfield, CT, is comprised of experts who can guide you through the process step by step.
So, regardless of what you're looking for, we can help with our many financing plans. But at this point, you may be curious about why you should choose Volkswagen Financing over alternatives. Keep reading to find out.
Volkswagen Financing vs. Other Options
At Central Volkswagen, we offer numerous financing incentives that make your decision-making easier. So, if you're shopping around and comparing deals, look no further! Here are a few of our incentive packages for financing with us.
Care Maintenance Plans
Our Volkswagen Care plans give you freedom. You can choose from multiple prepaid scheduled maintenance packages. The result? Each package will give you peace of mind, knowing that your investment is protected. This is accomplished with Volkswagen Care plans' manufacturer-recommended tune-ups.
College Grad Program
Are you a college graduate? If so, you may be eligible to finance a vehicle through our College Grad Program. The program is available to both American citizens and permanent residents, provided they graduated from an American (or Canadian-authorized) college. You must have graduated within 24 months before your application. Also, the program is valid from January 2024 to January 2025.
Bonus for VW Military & First Responder Personnel
We want to thank our military personnel and first responders for their service to America. For this reason, we are offering a $500 bonus to qualified personnel of any of the five branches of the military and to our first responders. This is our way of saying thank you for your selfless acts of service for our country. You've truly made the ultimate sacrifice.
Qualifying for Volkswagen Financing
Qualifying for Volkswagen financing is a simple process. Please ensure you have the following documents and information for a smooth and streamlined process:
American Social Security card
Documentation validating your place of residence and telephone number A physical, or copy, of a U.S. Visa with displaying a date of expiration Contact details of two American residents as personal references If these criteria are met, you can qualify for Volkswagen financing.
Advantages of Volkswagen Financing
Volkswagen financing offers numerous advantages. Moreover, these financing benefits often far outstrip the possible rewards you may gain from leasing a vehicle. Let's explore a few of these advantages in a little more detail.
Low Interest Rates
Other than your home, your vehicle is most likely your most expensive purchase. Most people tend to upgrade their vehicles at least a few times throughout their lives. But the truth is, if you're like most people, you probably don't have the funds to purchase a new vehicle in full, which is why financing is important. One of the main benefits of Volkswagen financing is the low-interest rates that accommodate your monthly payments.
Convenience
At Central Volkswagen, our job is to make the financing process seamless for you. As a result, we offer pre-approved financing when you apply. All you need to do is fill out a VW credit finance application. From there, one of our specialists will contact you to gently move you through the vehicle financing process. Everything is done for your convenience at Central Volkswagen.
Flexibility
With Volkswagen Financing, we offer flexibility in our payment plans. Each program is tailored to meet qualified individuals where they are, helping to ease payment constraints while adding more peace of mind in the process. Some of our special programs include incentives such as vehicle protection and maintenance plans and are tailored toward the following individuals:
- Military personnel
- First responders
- College graduates
Components of an Auto Loan
An auto loan is not a singular element. It comprises numerous components you must be aware of that form the loan. Each of these components contributes to the wholeness of your loan, thereby giving you a clear overview of what your advance consists of. For this reason, it's critical to understand these elements. Let's explore each of them in detail.
Down Payment
Your down payment plays a major role in the vehicle-buying process. In its simplest terms, a down payment is an upfront predetermined amount you pay toward the principle (more on that in a moment). This payment is made when you actually purchase your car. It's a percentage of the overall vehicle cost (typically 10% to 20%). Moreover, the down payment can drastically affect the overall price of your vehicle.
This is an important concept to keep in mind when financing: The more you pay as your down payment, the more you will save regarding the overall cost of the car.
Interest Rate
The auto loan interest rate is an essential part of financing a vehicle. It is the percentage of the loan amount that remains after you pay your down payment. This percentage is included in your monthly installments and is paid to the lender throughout the term of your loan. To sum up, your auto loan interest rate is simply an additional fee that contributes to the amount of money you owe to the lender. It is included on top of the original amount you borrowed.
Loan Term
A loan term is the length of time you and the lender agree for the loan to be paid. It's typically about 12 months. You will make a payment each month based on the loan amount divided by the term plus the interest rate. Loan terms can range from 12 months to 72 months.
Principal
The principal is the amount of money you borrow for your auto loan. Your monthly payment goes toward paying down the principal you owe as well as the loan and interest fees.
Pre-Approval
The pre-approval process begins by filling out an application that can usually be done online. This process verifies your Income, credit score, and other personal information to determine your eligibility for a vehicle loan. Once this process is complete, the lender provides the loan terms. You can then choose your vehicle.
Volkswagen Financing FAQs
At Central Volkswagen, we receive numerous questions regarding vehicle financing at our dealership. Here are the most common ones that you may have.
What is an auto loan?
An auto loan is simply a loan paid out to purchase a car. If you don't have the money for a new vehicle, an auto loan can help you make the purchase. You borrow money from a lender to pay for a vehicle. However, it is a loan, so this means you agree to repay the money over a set period in addition to any interest fees that accumulate.
How much can I borrow for an auto loan?
The answer to this question will vary from person to person. However, the amount of money you can borrow will be based on a few variables. Namely, your income/salary, credit score, and debt-to-income ratio.
Can I refinance my auto loan?
Yes, refinancing an existing auto loan is permitted by many lenders. However, keep in mind if your vehicle is in substandard condition or your payments are winding down, some lenders may not provide refinancing as an option.
How do I apply for Volkswagen financing?
You can apply online for Volkswagen financing using our finance application.Â
Can I lease a Volkswagen instead of buying it?
Yes, you are more than welcome to lease a vehicle instead of financing it. We provide a Lease Return Center where you can turn in your vehicle or lease it a new one from us.
Are there any Volkswagen financing specials?
Yes. At Central Volkswagen, we have numerous financing specials. So, whether you're looking for a deal on a new or used vehicle, we have something for you! Here are our financing specials:
- New vehicle specials: View our inventory to claim your new vehicle special today. Finance is available at as low as 1.9% APR for 60 months.
- Used vehicle specials: Fill out our used vehicle specials form, and we'll get back to you to help you find the perfect used vehicle to meet your needs.
- Service specials: Get $5 to $25 off of our numerous auto services with our service specials.
- VW incentives: Explore our incentives to find a vehicle you love
Get Volkswagen Financing Today
Vehicle financing is an easy and convenient way for you to get a reliable vehicle quickly, even if you don't have cash at hand to pay for it outright. For this reason, Central Volkswagen is here to help you get the vehicle you want and need. Whether you're looking for an SUV, minivan, or sedan, our experts are here to assist you every step of the way. So, if you're ready, contact us to finance your new vehicle today!
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