Press Release

May 11, 2020

Volkswagen Financial Services set comprehensive sales program in motion together with the Group brands

Non-contributory payment protection insurance for jobholders in case of unemployment

Attractive financing and leasing packages for new and used vehicles from Volkswagen Passenger Cars, Audi, SEAT, ŠKODA and Volkswagen Commercial Vehicles

Braunschweig, 11 May 2020. Volkswagen Financial Services have launched a comprehensive sales program together with the brands Volkswagen Passenger Cars, Audi, SEAT, ŠKODA and Volkswagen Commercial Vehicles. Following the closure of the car dealerships as a result of the corona lockdown, customers are now being given the opportunity to finance or lease vehicles at particularly advantageous conditions. An essential component of the program consists of non-contributory protection insurance for installment payments in the event of unemployment, in order to give customers currently in gainful employment more security when concluding a leasing and financing agreement. A range of special rates and conditions are also being provided for new and used vehicles, which can be further combined with attractive options for maintenance and inspection services. "We are pleased to be able to offer our customers a comprehensive sales package together with the Volkswagen Group brands and our dealer partners," says Jens Legenbauer, Chairman of the Management Board of Volkswagen Leasing GmbH and Regional Manager Germany at Volkswagen Financial Services. He continues: "The products offer customers real added value in the current phase and provide quick access to mobility. In doing so, we are setting a strong example together during the corona crisis."

The non-contributory payment protection in case of unemployment is a core component of the program across all the brands. As part of the initiative, employees automatically receive the insurance at no additional cost. In the event of involuntary unemployment, the insurance covers up to twelve monthly installments of the respective financing or leasing contract. This adds a great deal of security to financing or leasing, especially in the context of an economic situation like the present that is difficult to predict. Moreover, the product also offers extensive support and assistance services when there is a threat of impending unemployment.

In addition to non-contributory payment protection, customers also benefit from highly attractive financing and leasing packages for new and used vehicles. The financing rates lie between zero and 1.99 percent depending on the particular brand. This is supplemented by maintenance and inspection packages that are provided at reduced cost or are even complimentary in some cases. The contracts can be finalized in the respective showrooms of the Volkswagen Group dealers.

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Information for editors:

Volkswagen Financial Services are a business division of the Volkswagen AG group of companies and comprise Volkswagen Financial Services AG along with its associated companies, Volkswagen Bank GmbH, Porsche Financial Services, and the financial services companies in the USA and Canada that belong directly or indirectly to Volkswagen AG – with the exception of the financial services of the Scania brand and Porsche Holding Salzburg. The key business fields embrace dealer and customer financing, leasing, the bank and insurance business, fleet management and mobility offers. Volkswagen Financial Services have a total of 16,571 employees worldwide – including 7,414 alone in Germany. Volkswagen Financial Services report total assets of around EUR 223.5 billion, an operating result of EUR 2.96 billion and a portfolio of around 21.5 million current contracts (as at: 31.12.2019).

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