Volkswagon Financing

[Anonymous]

Has anyone financed a car through Volkswagon?  I read on their website that they offer a first time car buyer program, which I am.  They also offer a recent graduate program.  I will graduate with a Master's in August. 

Has anyone used these programs to finance their car through VW?  Or has anyone financed a car through them?  Any insight is greatly appreciated!! 

[Anonymous]

I financed a VW from them in 2001.  It wasn't a special program.

Watch out for the 'bait and switch.'

I was quoted one rate over the phone by a salesman, then when I got there they said that he was not authorized to give financing at that rate and they couldn't possibly do it.

In the nicest possible way, I told them to give me the original rate or I was walking out the door without the car.  It was just after 9/11 and I said, "hey, no one is going to buy a car this month."  They relented, gave me the original rate, and complained that the sales manager wouldn't be able to pay his bar tab that month.  Cry me a river ...

[Anonymous]

I have used both Nissan and Mitsubishi's recent graduate rebates....Each dealership offered $500 rebate to those recently graduated (within 2 years)

If you have decent credit scores you should be fine using regular financing.  I think the first time car buyer programs are more for people with very little credit history.

[Anonymous]

My problem is that my scores aren't that great. 

• Experian- 560
• Equifax- 580
• Transunion- 623

My scores have gone up at least 75 points, and are on a steady climb.  However, I still have a lot of climbing to do.  I plan on using my Credit Union, BoA, and Capital One to see what interest rates I qualify for.  I'll try to use this against the VW dealership.  We'll see what happens.  Thanks for the insight!

[Anonymous]

VW/Audi new graduate finance program requires that you have no derogs on your report.