Volkswagen ID Forum banner
1 - 10 of 10 Posts

·
Registered User
Joined
·
50 Posts
Discussion Starter · #1 ·
Have we any insight into financing terms for id4? Looks like most vw models offer 0 or 0.9%. Should we expect the same? My local CU has 2.29 for a 60 month as a backup but obviously prefer sub-1.

ps I’ve tried to reach the finance office at my dealer for weeks and just get voicemail and no call back.
 

·
Registered User
2021 VW ID.4 1st Edition, Dusk Blue <3
Joined
·
414 Posts
My dealer in Denver, Emich VW, gave me purchase quotes with 2.33% for a 60 month and 3.08% for a 72 month (and I have outstanding credit).
 

·
Registered User
2021 ID.4 1st Edition Blue Dusk
Joined
·
187 Posts
0% financing is not always a good deal -
Never tell the dealer that you are paying cash -
or that you are putting cash down (ideally 20%) -
Don't ever tell the dealer how much you can pay per month. Negotiate the MSRP first -
Don't pay for unnecessary dealer fees -
 

·
Registered User
Joined
·
50 Posts
Discussion Starter · #5 ·
0% financing is not always a good deal -
Never tell the dealer that you are paying cash -
or that you are putting cash down (ideally 20%) -
Don't ever tell the dealer how much you can pay per month. Negotiate the MSRP first -
Don't pay for unnecessary dealer fees -
it is if you’re buying car at MSRP and financing anyways
 

·
Registered User
Proud FE owner
Joined
·
1,000 Posts
"Sign and Drive" financing offers posted for all other models.
  • 0%/72 months for Tiguan, Atlas, Arteon
  • 0%/60 months for GTI, Golf, Jetta, Passat

 

·
Registered User
Joined
·
26 Posts
Stupid question. I've contacted two different banks for loan approval, and both are asking for a signed purchase agreement in order to send the loan to underwriting. I even asked the one loan officer if I could have approval ahead of time, and he said he would need a signed PO from the dealer in order to get a final approval on the loan.

I'm no finance guy, but I guess I thought I could get pre-approval that I could pull out if the sleezy finance salesman tried to give me an inflated interest rate while in the finance office. Am I thinking about this incorrectly? Does pre-approval exist in the auto loan industry?
 

·
Registered User
2021 ID.4 1st Edition Blue Dusk
Joined
·
187 Posts
Stupid question. I've contacted two different banks for loan approval, and both are asking for a signed purchase agreement in order to send the loan to underwriting. I even asked the one loan officer if I could have approval ahead of time, and he said he would need a signed PO from the dealer in order to get a final approval on the loan.

I'm no finance guy, but I guess I thought I could get pre-approval that I could pull out if the sleezy finance salesman tried to give me an inflated interest rate while in the finance office. Am I thinking about this incorrectly? Does pre-approval exist in the auto loan industry?
You should never, ever, reveal you have pre-approval financing until you have the out the door price plus the interest rate the dealer is offering. See my buyers guide here.

Try DCU Credit Union. DCU is offering 1.49 % APR. If you are current or Ex-Military, Navy Federal. I was pre-approved without having to submit any kind of "signed purchase agreement"
 

·
Registered User
2021 ID.4 First Edition (Dusk Blue)
Joined
·
310 Posts
You should never, ever, reveal you have pre-approval financing until you have the out the door price plus the interest rate the dealer is offering. See my buyers guide here.

Try DCU Credit Union. DCU is offering 1.49 % APR. If you are current or Ex-Military, Navy Federal. I was pre-approved without having to submit any kind of "signed purchase agreement"
Actually it can be an even better deal than that. DCU gives you 0.5% off if you do direct deposit. They also give you 0.25% off if you are financing an EV. Their rates up to 65 months are 1.99% so at the least you should be at 1.74% (if you're too lazy to set up direct deposit) or 1.24% (if you do direct deposit).

You can also refinance at those same terms too, so basically if you don't feel like doing any of this when you buy the car. I actually got 1.99% from Capital One through the dealership and then refinanced a couple of weeks later.
 

·
Registered User
Joined
·
26 Posts
You should never, ever, reveal you have pre-approval financing until you have the out the door price plus the interest rate the dealer is offering. See my buyers guide here.

Try DCU Credit Union. DCU is offering 1.49 % APR. If you are current or Ex-Military, Navy Federal. I was pre-approved without having to submit any kind of "signed purchase agreement"
That's exactly right. I'm trying to go into the dealership with a pre-approval ready. I'll have the dealer quote me their best offer, and if it's not better than what I already have, I'll go with my own financing. I explained that to the loan officer over the phone with my credit union, but he said he would need the purchase agreement in order to send the loan to underwriting. The other bank I bank said the same thing. I'll check out DCU, thanks for the tip.
 
1 - 10 of 10 Posts
Top