Auto Loans

[soccrstar]

Hello,

I was wondering if anyone knows much about VW Credit.

I applied online and got the we will review the application yaddy yaddy yaddy. pretty much needed further review I guess. this was last night...

This morning I got an email from VW Credit. called couple dealers and doesn't look like anyone knows what the heck it means :-x what the heck... heck I called VW Credit and they said they or least that department have no access to that and need to go to the dealership and quite frankly don't want to go all the way over there just for them to say DENIED. waste of time and gas. something they can easily say over the phone.

any help is appreciated!

Subject: Thank you for your Online Credit Application with Volkswagen Credit

Confirmation Code: 1234567

Dear SoccrStar,

Thank you for applying for credit with Volkswagen Credit. Please visit Dealership Volkswagen to discuss your financing options on the 2012 VOLKSWAGEN Golf for which you have expressed interest. Your dealer will help you choose your specific vehicle and facilitate the financing process.

Be sure to bring the following documents to make the transaction quick and smooth:

Your valid driver’s license
Proof of insurance and agent contact information
If you are trading-in a vehicle, the vehicle title of your trade-in, or if you are still making payments, the payoff amount and the name of the company or bank that holds the loan
Your Confirmation Code: 1234567

Your selected dealer:
Dealership Volkswagen
City, MA
Phone: (123) 456-789

We look forward to serving you.

Sincerely,

Volkswagen Credit

[annielorie]

Im not a car dealer but IMO that sounds like they will approve you! Why would they have you bring in all the information.  Remember also face to face the manager can shop you around to different lenders to make the deal.

[annielorie]

Oh there is a thread here " I manage an autodealership I can help.  Post him a question as he is actually a manage of a VW dealership and might help you shed some light on this email. Good Luck

[Kevin7180]

From my experience with VW, when you apply through there website, your getting a potential approval. You will need to go to a dealer and select a car first. They have different financing offers depending on the model. They will submit a purchase purposal back to VW for complete underwriting approval. Only then find out what APR you will be offered. 

Good Luck. We are looking to get another VW in 2 weeks.

[69Moon]

A complete an utter con trick by a so called respected car brand. I applied online, received the standard confirmation code email from vw credit telling me to go to my specified dealer. Dealer was 25 miles away. Dealer claimed no knowledge of vw credit preapproval process. Kept badgering me to complete a whole new credit application. On pressuring him he eventually returned will the vw credit so called preapproval which he handed to me and stated DENIED!!!!! 50 mile round trip to be told denied... I have been a VW credit customer for the last 7 years... This is a new strategy to drive customers to the dealers to be skinned alive...they should be very ashamed... I hope there management take a good hard look at this tactic because they are about to get allot of heat from customers on this...