Info

VW College Graduate Program

 
Effective Dates: May 8, 2019 - January 2, 2020
Bulletin Number: V1905-30M-Update

Please indicate bulletin number and note College Graduate program on funding package included at the bottom of the PDF. Please refer to Financing Handbook for further details. Note: this program is not combinable with VW TDI programs 79L & 81R.
 

Program Benefits


Leasing

VCI Premium Rates/Advances (see below), Security deposit is not required, and $500 Customer Bonus for MY19.

Retail Financing

VCI Premium Rates/Advances (see below) and $500 Customer Bonus for MY18 and MY19.

Driver's Option

VCI Premium Rates/Advances (see below) and $500 Customer Bonus for MY19.

Certified Pre-Owned

VCI Premium Rates/Advances (see below). Does not qualify for $500 Customer Bonus.

 


Program Eligibility


  • Applicant must be a U.S. Citizen or Permanent Resident.
  • Must be within six months of graduation or have graduated no more than 24 months prior to the date of his/her credit application, from a 2- or 4-year accredited U.S. or Canadian college or university with one of the following degrees: Associate's; Bachelor's; Master's ;Doctoral; Nursing degree (RN or LPN).

Eligible Vehicles


  • MY19 and MY18 (retail only) - New and Near New VW vehicles qualify for rates/advances.
  • MY19 are eligible for $500 bonus. MY18 are eligible only for $500 bonus on retail (See Vehicle Definition and Eligibility Matrix in Financing Handbook).
  • Certified Pre-Owned Volkswagen vehicles (Retail Financing Only).

Rates / Advance


  • All original "Tier 2-3" credit tiers will be eligible for approval at "Tier 2" Tier rates and advance.
  • All original "Tier 4-8" credit tiers will qualify for "Tier 4" rates and advance*.
        *In cases of a credit-qualified co-applicant, tier and advance are based on the primary applicant. If the College Graduate is the primary, the tier and advance will follow the program rules.*

Term


  • Retail: 12-72 months
  • Driver's Option: 12- 48 months
  • Lease: 12-48 months

Dealer Reserve


For Standard & Special Rates:
  • Retail/Driver's Option: Maximum APR of 1% above published "Tier 2 or 4" buy rate.
  • Lease: Maximum rent charge factor is 0.00040 over the "Tier 2 or 4" base rent charge factor.
  • See Dealer Reserve sections for further details.

Required Documentation


See financing handbook for further details on each required document:
  • Bonus Claim Form
  • Copy of Proof of Income & Full Time (Permanent) Employment*
  • Copy of Degree or Transcript & Contact Information for References**
  • Copy of complete & signed credit application
        *Optional documentation for original Tier 2 customers only.*
        **Optional documentation for original Tier 3-4 customers only.**

Credit Application Process


  1. Dealer submits credit application with special handling code "College Grad Program."
  2. Any Red Flag failures must be cleared prior to approval.
  3. All original "Tier 2-3" credit tiers will be eligible for auto approval at "Tier 2" rates and advance.
  4. All original "Tier 4 and below" credit tiers will qualify for "Tier 4", but will be reviewed by a Credit Analyst for College Graduate Program qualifications and to ensure no derogatory credit is present.

Other Miscellaneous


  • If Volkswagen Credit is not able to validate the supplied documentation within 5 business days, the funding package will be returned to the dealer unfunded.
  • Any documents sent to our Credit Department will NOT be transferred or forwarded to our Funding Department.
  • There will be no exceptions to the program eligibility.
  • Customer is eligible for this program benefits once per degree.
  • Qualification under this program is subject to verification prior to approval.
  • No credit history required; however, established history must be in good standing with no previous derogatory credit.
  • Monthly payment may not exceed 25% of gross monthly income.
  • College Grad may be combined with Military/First Responder or DEPP.

Disclosures


  • In order to participate in this program, the $500 bonus must be disclosed on the contract as shown below. NOTE: Amounts shown below increase when combined with other VWoA Customer programs.
  • Lease Agreements - Bonus amount must be listed on the "Capitalized Cost Reduction" and "Rebates and non-cash credits" lines in the "Itemization of Amount Due at Lease Signing or Delivery" section: This bonus cannot be used in any other items listed in the amount due at lease signing or delivery.
  • Retail Contracts - Bonus amount must be listed on the Manufacturer's Rebate* line in the "Total Down Payment" section. If the contract does not have a "Manufacturer's Rebate" line, disclose the amount on the "Other" down payment line. (See examples below - contracts may vary by state).
        *Contract disclosure requirements are referenced in this bulletin. For advertising this offer, please refer to Volkswagen of America, Inc. IDM Guidelines to ensure compliance.*

LEASE EXAMPLE
 

RETAIL EXAMPLE
 



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