If you take a loan from Audi Financial Services, you can purchase ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL) manufactured cars only.
The tenure of the loan could range from one to five years.
Interest is calculated on a monthly reducing balance basis.
Please refer the Service Charges section.
You can just walk into any of our Authorised Audi Dealership.
The loan will be processed after receipt of post-sanction documents at Central Office.
No, a personal guarantor is not a must.
No additional security / collateral needs to be provided, apart from the car against which the loan is granted, being hypothecated to ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL).
All loans are at the sole discretion of VWFPL.
The loan can be repaid through Electronic Mode (ECS) or post-dated cheques drawn on SKODA AUTO Volkswagen Finance Private Limited.
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 Charges section.
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.
The stages involved are:
• Sanctioning of the loan
Make a call to VWFPL Call Centre and get Foreclosure statement. Based on Foreclosure statement, pay the total amount at your dealership along with the below mentioned documents to complete the prepayment process:
Duly signed and dated physical copy of request letter is required from applicant towards foreclosing of the said loan account.
> Foreclosure payment can be made either via cheque/DD favouring “ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL)” or funds transfer via NEFT/RTGS can also be done. Bank details for funds transfer can be checked taken from our Customer Care Team.
> Interest is calculated on 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 transferred via RTGS/NEFT, 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.
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.
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
* Under the joint trade name "ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL)" the subsidiaries of ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL) AG provide the aforesaid services. Financial Services are offered by ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL). Leasing, Insurance and Mobility Services are offered by ŠKODA AUTO Volkswagen India Private Limited (SAVWIPL) in cooperation with third parties.