What is Leasing?
If you like to keep things fresh and your monthly payments low, leasing might be just the thing for you. Depending on your needs, the length of your lease can be anywhere from 1 to 5 years with a set kilometre limit. At the end of the lease, you can pick a new Volkswagen for your next adventure, purchase your current Volkswagen for a predetermined price, or return it to your Volkswagen dealer.
Benefits
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May provide lower monthly payments than financing, over a shorter term
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Flexible lease terms and a range of kilometre allowances that suit your lifestyle
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Ability to turn-in your vehicle for a newer Volkswagen model or buy your vehicle at a predetermined price at lease maturity
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Drive a new Volkswagen more often!
The One-Pay Lease Program is available to Customers that want to lower their cost of borrowing compared to a standard lease and avoid the hassle of monthly payments.
One-Pay Lease Benefits:
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Reduced interest rate
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GAP coverage that protects you in case of theft or total loss event
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Options to purchase or return the vehicle at the end of the lease term
What it is
With a Lease Excess Wear Waiver from Volkswagen Protection Plus you won’t need to worry about additional costs you might need to pay when returning your car. With coverage up to $10,000 you can relax and enjoy your Volkswagen knowing you’re protected against common lease excess wear costs*.
What's covered
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Small dents
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Paint scratches
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Windshield and other glass/lens damage
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Bumper damage
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Upholstery damage
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Worn tires
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Damaged wheels
Program highlights
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Lease excess wear costs are waived
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No deductible
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Coverage for up to $10,000
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Fully transferable to a new lessee
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Cancellable within 60 days
What it is
As your lease nears its end date, you’ll want to figure out your next steps. Start by setting up or logging in to your complementary Volkswagen Plus account. There, you’ll find members-only benefits, events, special offers and plenty of useful online tools that’ll make the transition a smooth ride.
When there are approximately 8 months remaining on your lease, you will receive an email and/or a package in the mail that will direct you to a personalized End of Lease microsite hosted on Volkswagen Plus. Here you will find an End of Lease timeline customized to your account that will guide you through the opportunities that await.
1. Get a new Volkswagen
You’re still in a Volkswagen state of mind and that’s a good thing. All you have to do is set up an appointment with the dealer, book your pre-inspection, final inspection and test-drive your new Volkswagen.
2. Keep your Volkswagen
You can’t let go and who can blame you? After all, it’s a Volkswagen. Talk to your dealer and they’ll guide you through the process of buying your current vehicle.
3. Return your Volkswagen
You need a break. We understand. Just get in touch with us to set up your final inspection, schedule a return date with your Volkswagen Dealer and you’re done!
Leasing versus financing a car
Still trying to decide which financial plan works best for you? Check out our quick guide for the pros and cons of financing and leasing!
Leasing
Cost: You will pay monthly installments based on an amount pro-rated to the term and kilometre option of your choice; plus any extras such as Protection Plans, accessories, and fees. Taxes are calculated on the monthly payment, not on the full price of the vehicle.
Ownership: You do not own the vehicle while you pay your monthly installments. When you complete your final installment, you will have the option of buying your Volkswagen for a predetermined price, or returning it.
Payments: Similar to renting a home, you pay a monthly installment for exclusive use of the vehicle over a fixed term, with an option to purchase the vehicle for a predetermined amount (residual value) at the end of the term. You can reduce your installment amount by making a down-payment at the time of purchase. Your first payment is due on the day you take delivery.
Personalization: You can customize the term, kilometre allowance, and more to suit your personal situation.
Upgrading Your Vehicle: At any time during, or at the end of the fixed term, you can explore upgrading to a new Volkswagen with your dealer. There is no penalty for paying out your lease early.
Financing
Cost: You can borrow the full purchase price of the vehicle plus extras such as Protection Plans, accessories, and fees. Taxes are calculated on the full purchase price of the vehicle.
Ownership: You are the registered owner of the vehicle while you pay your monthly installments. When you complete your final installment you will have full ownership.
Payments: You pay off the value of the contract, over a fixed term, with equal monthly or biweekly installments. You can reduce your installment amount by making a down-payment at the time of purchase. Your first payment is due 30-days from the day you take delivery.
Personalization: You can customize the term, repayment structure, and more to suit your personal situation.
Upgrading Your Vehicle: At any time during, or at the end of the fixed term, you can explore upgrading to a new Volkswagen with your dealer. There is no penalty for paying out your loan early.
