Volkswagen announced in early March that they would temporarily halt vehicle production for two weeks due to coronavirus (COVID-19). An update later in the month from Volkswagen Group CEO Herbert Diess informed the public that the company would be forced to keep factories shut longer than planned due to the coronavirus crisis. Understanding that many people are out of work and experiencing financial hardship, Volkswagen is changing dealership experiences and assisting existing customers with three months of payment relief to help.
Volkswagen Offers Customers Three Months Payment Relief
Volkswagen launched a new program called “Community-Driven Promise.” Community-Driven Promise will assist eligible customers who have been impacted by COVID-19 or need a financial cushion to replace a vehicle. Under this new program, Volkswagen is offering up to three months of payment relief.
Volkswagen’s “Community-Driven Promise”
The “Community Driven Promise” will extend payment assistance for existing Volkswagen and Volkswagen Credit customers impacted by COVID-19 for 90 days. Under this program, additional payment relief options may be available. These options include lease extensions up to six months, waiving past maturity fees and waiving fees.
“Our customers remain our focus,” said Anthony Bandmann, CEO and president, VCI. “We want to be a source of support and relief in these uncertain times.”
Customers needing payment assistance or extend a lease agreement are encouraged to submit a request online as soon as possible. The Community- Driven Promise program will run through the end of April.
Volkswagen and Volkswagen Credit is also offering buyers needing to purchase a vehicle during this time. New vehicle financing will provide 72 months with zero percent APR. They will also have the option of delaying their first payment for up to 180 days.
VW’s plan to assist dealerships
More than 600 independent dealerships and their employees will receive support from Volkswagen and VCI during this time. Dealerships will begin implementing a new pick-up and delivery program to help customers in need of vehicle service or repairs and still allow them to practice social distancing. Dealerships will also be able to begin accepting digital signatures from customers for warranty claims and other transactions. Dealer service departments will all receive increased digital operations to limit physical interactions.