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VWFS fights back at direct lenders

Volkswagen Financial Services has launched a flexible PCP package to help its dealers fight back against direct lenders which are taking a growing slice of the finance market. Dealers in the Audi, VW, Seat and Skoda networks will use the New Solutions PCP to boost penetration levels for new car sales.

The product, which replaces the Solutions package, requires smaller deposits, has longer contract periods (up to 42 months) and more flexible payments in a bid to appeal to a wider portfolio of customers. The company will give dealers point of sales materials and business managers will have a day's training on selling the new package.

Mystery shops show retailers are generally slow to offer finance packages. To overcome this problem, VWFS has improved commissions, configured to the package sold. It is also developing a 'cash for car' product for small business users.

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