Volkswagen Financial Services (UK) Limited announce record £1billion lending
(04/09/2008)

Volkswagen Financial Services (UK) Limited is bucking all the trends in the current credit crunch by reporting record sales growth.

Volkswagen Financial Services (UK) Limited offers a range of finance and insurance products through registered retailers on the full range of new and used Volkswagen Group brands – Audi; Volkswagen; Volkswagen Commercial; Skoda; SEAT and Bentley.

The UK company has announced that it has reached £1 billion of lending in 2008 five months ahead of target despite the general slow-down in consumer spending.

“It’s a tremendous achievement in the current economic climate that we have secured so much new business so quickly,” said Managing Director Graham Wheeler. “People are coming to us rather than the banks.

“We put our success down to the fact that we have more available funds and can move faster than other financial organisations. Long term strategic planning means that the credit crunch is not affecting our lending abilities.

The company is able to offer customers competitive deals on vehicle finance and contract hire.

£1 billion in lending represents finance for 72,803 vehicles sold through Volkswagen retailers across the UK since 1 January 2008 across the range of Audi, Volkswagen, Volkswagen Commercial, Skoda, SEAT and Bentley models.

Finance and Insurance Products:

1. Solutions Finance Plans enables smaller deposits to be made on any vehicle in the Volkswagen Group. There are three plans tailored to meet mileage requirements between 5,000 and 40,000 miles per annum over a period of eighteen months to three and half years.

2. Insurance Asset Protection Plans. There are two plans that shield the owner from financial loss over three years which are paid out in addition to a comprehensive motor insurance plan settlement. An additional cover for a further two years is also available.

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