1) Can I take a loan from Audi Finance to buy any car?
If you take a loan from Audi Finance you can purchase Audi
manufactured cars only.
2) What are the loan tenure options?
The tenure of the loan could range from one to five years.
3) How is the interest charged / calculated?
Interest is calculated on a monthly reducing balance basis.
4) Do I have to pay any additional charges?
Please refer the Service Charges section.
5) How do I approach Audi Finance for a Car loan?
You can just walk into any of our Authorised Audi Dealership
6) How much time will it take for my loan to be approved?
The loan will be processed after receipt of post-sanction documents
at Central Office.
7) Is a personal guarantor a must?
No, a personal guarantor is not a must.
8) What security / collateral do I have to provide?
No additional security / collateral needs to be provided, apart from
the car against which the loan is granted, being hypothecated to
Volkswagen Finance Private Limited.
9) If I do not meet all the criteria for the loan, can I still
avail of a loan?
All loans are at the sole discretion of VWFPL.
10) How do I repay the loan?
The loan can be repaid through Electronic Mode (ECS) or post-dated
cheques drawn on Volkswagen Finance Private Limited.
11) Can I foreclose my loan?
Yes. A foreclosure fee of 3% on the outstanding principal amount
along with Service Tax as applicable will be charged if closed within
24 months of the loan taken. For details please see the Service
12) What is a Monthly Reducing Balance?
In the case of monthly reducing balance method, the principal gets
reduced at the end of every month and the interest is calculated on
the outstanding principal at the end of the month.
13) What are the stages involved in availing a loan?
The stages involved are:
- Sanctioning of the loan
14) How can I foreclose my Car Loan?
Make a call to VWFPL Call Centre and get foreclosure statement.
Based on FC statement, pay the total amount at your dealership. Below
mentioned documents are required to complete the prepayment process:
- Duly Signed and dated physical copy of request letter is
required from applicant towards foreclosing of the said loan
- Foreclosure payment can be made either via Cheque/DD
favouring "Volkswagen Finance Private Limited" or funds
transfer via NEFT/RTGS can also be done. Bank details for funds
transfer can be checked from our Customer Care Team
- Interest is calculated on a daily basis and will be applicable
& payable by customer till the time of receipt of clear funds as
well as receipt of physical request letter
- Banking is
considered on the working days
- If the funds are transfered
via RTGS/NEFT kindly please share the bank details along with UTR
reference no. to enable us to check the receipt of funds at our end
to proceed with loan foreclosure
15) How can I obtain my un-banked PDC or Security PDCs?
After closure of Loan, in the event of the applicant’s wish to
procure the post-dated cheques and / or security post-dated cheques
that remain un-banked at the end of the loan tenure / change of
repayment mode; or details of such un-banked post-dated cheques and /
or security post-dated cheques, the applicant must make a request for
the same, within thirty days of closure of loan / change of repayment
mode. If this is not done, VWFPL shall have the discretion /
responsibility to destroy the un-banked post-dated cheques including
security post-dated cheques without any further notice and VWFPL shall
not have the obligation to return the same to the Applicant.
16) How do I update my mailing address, mobile number or Email Id
registered under my loan account?
For address change, necessary KYC proof needs to be submitted and
for change in Email Ids and mobile numbers, Customer Request Form
(CRF) needs to be filled up which is available at the Dealership