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New VWFS finance solution to make switch to EVs more affordable

By / 7 months ago / UK News / No Comments

A new electric vehicle finance package has launched from Volkswagen Financial Services (VWFS) to help make the move to an electric car more affordable and flexible for retail customers.

It’s dubbed Lease&Care and targeted at the 80% of new car buyers who now use finance agreements, giving them access to Volkswagen’s growing range of electric vehicles such as the ID.3 electric hatchback.

The package offers customers a minimum of a two-year lease from new, with vehicles maintained and serviced by the brand’s aftersales team on varying levels of cover. Drivers also have the option to extend the lease for a short period if they are looking to hold off until a newer model is released, allowing motorists to swap between models to suit their lifestyle.

The end-of-lease cars will then be resold through the VW network as approved vehicles.

The new financing solution launches some three months after orders opened for the ID.3, which is imminently being joined by the ID.4 compact SUV as part of VW’s fast-expanding EV line-up.

VWFS said the new solution makes medium to high-end priced electric cars “available to the masses”.

Dan James, marketing director at VWFS, commented: “The creation of the Lease&Care package looks to encourage motorists to make the switch to electric vehicles as simple as possible without the headache of costs. We understand there may be a worry around converting to EV due to the mystic around depreciation and running costs, but our new package allows customers to try an EV such as the Volkswagen ID.3 at a more affordable price, for a length of time that suits them.”

The package offers three different levels: basic servicing (Small), all routine maintenance (Medium), and fully comprehensive maintenance replacements including tyres (Large).

Dan James added: “With this package, we are confident that we are helping more people to join the EV revolution.”

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Natalie Middleton

Natalie has worked as a fleet journalist for nearly 20 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. Natalie edits all the Fleet World websites and newsletters, and loves to hear about any latest industry news - or gossip.