This month, you can finance a brand-new VW by using your DP as savings

DPs will be settled as hold-out deposits and can be withdrawn after 24 months
by Leandre Grecia | Jul 16, 2021
PHOTO: Volkswagen Philippines
CAR BRANDS IN THIS ARTICLE

If you’re in the market for a brand-new sedan, you might want to check out Volkswagen Philippines’ latest promo.

For the month of July, the carmaker is offering its vehicles with no cash-out through its ‘Zero in on a Volkswagen’ promo. Buyers who wish to purchase a brand-new Santana, Santana GTS, Lavida, or Lamando through financing can have their down payments waived.

Customers only need to open an account with the Bank of the Philippine Islands (BPI). Those approved will then need to execute a Hold-Out Agreement equivalent to 20% or 30% down payment of the selected vehicle. This will be withdrawable after 24 months, as long as the customer’s auto loan account is updated and not in ‘past due’ status.

The hold-out deposit will remain in the customer’s account and continue to earn interest, essentially allowing him to enjoy Volkswagen’s zero cash-out offer. In addition to this, the currently available cash discounts will be applied to lower the covered vehicles’ SRPs. Chattel mortgage fee and the first-year comprehensive insurance (with acts of nature) shall be free as well.

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You can refer to the table below for a better look at the available offers:

Model

Discounted SRP

BPI Deposit Amount

Monthly Amortization

Volkswagen Santana MPI MT 550,000
As low as 30% DP
13,739
Volkswagen Lavida 230 TSI DSG SE 918,000 22,932
Volkswagen Santana GTS 180 MPI AT SE 995,000
As low as 20% DP
24,856
Volkswagen Lamando 280 TSI DSG SE 1,515,000 37,845

Are any of these worth considering, folks? If you want to avail of this promo, you only have until July 31, 2021 to do so, so take note.

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PHOTO: Volkswagen Philippines
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