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Volkswagen Korea hit for providing faster deliveries to its auto loan clients
Volkswagen Korea is being criticized for delivering its brand-new all-electric ID.4 SUV faster to customers who obtain financing from its auto finance service.
Industry sources claim that Volkswagen Korea’s dealers are promising customers that they can receive their cars earlier regardless of the waiting number by availing of their auto loans.
For those purchasing an ID.4 model using Volkswagen Financial Services loans, the 60-month interest rate is estimated at 7.7 percent, far higher than credit card installment plans, which have an annual interest rate of about 4 percent.
Volkswagen Korea offers no discount for the ID.4 even when using their auto loans.
The South Korean unit of the German carmaker denied that its financial products have anything to do with the delivery date.