Volkswagen has just announced an extension for its Community-Driven Promise customer payment assistance program, which was put in place at the beginning of April as a result of the COVID-19 pandemic.
The program is now set to stay in place through June 1st, offering assistance for both existing customers as well as new buyers, as long as they are deemed “qualified”.
“The COVID-19 pandemic has caused significant stress and worry across America, and is putting financial strain on millions of households,” said VW of America CEO, Scott Keogh. “We will continue to look for ways to help our customers, our dealers, our employees and our communities in this time of crisis.”
Related: What To Do When You Can’t Make Your Car Payments
Existing customers can get up to 90-day payment deferrals without fees (although charges will still accrue for non-lease accounts), but also lease extensions for up to six months, with a 20% reduction rebate in the monthly payment amount, and up to five monthly payments when leases are extended for at least three months. Furthermore, VW will also waive past maturity fees in certain circumstances.
As for new customers, they can now defer the first payment for up to 120 days (revised from the original 180 day offer), combined with zero-percent APR financing for up to 72 months for most new vehicles. VW can also waive up to six months of payments (up to $750 per month) for qualified new buyers who lose their jobs (not available in New York at this time, and not offered on leases).
The German carmaker is also offering highly qualified customers the chance to purchase a certified pre-owned model with zero percent APR financing for 60 months. This offer runs through June 30th.