Coronavirus pandemic has dampened the automobile industry and this condition may prevail for a while as people may not find buying a new vehicle as a viable option. Keeping the same in mind, Volkswagen India has introduced leasing options and flexible financing instruments for purchase of its vehicles.

With this concept, the Wolfsburg-based German company aims to drive sales in a market battered by COVID-19 disruptions. Under its omni-channel mobility solutions, the company has integrated ‘Power Lease’ – a ‘pay-for-usage’ model complete with zero down payment scheme – with Volkswagen Secure which allows customers to purchase a Vento or a Tiguan Allspace model with flexible down payment and low EMI, including insurance coverage for a tenure of three or four years.

Speaking about the initiative Volkswagen Passenger Cars India Director Steffen Knapp said, the Volkswagen Secure and Power Lease initiatives provide customers with the power and independence to purchase their favourite Volkswagen in a hassle-free, contactless and digitalised manner.

In the current scenario, wherein accessible individual mobility is on the rise, these solutions will reduce the financial strain on customers, the company added.

Through Volkswagen Power Lease, a customer can access all Volkswagen BS-VI cars and avail ‘pay-for-usage’ model complete with zero down payment, low rental charges, insurance coverage and flexible maintenance option across varied tenure period of two, three and four years, the statement said.

Customers will have the option for either wet lease or dry lease. While wet-lease covers all maintenance cost and offers buy-back at the market value of the car; under dry lease customer will have to bear the maintenance cost and the buy-back will be available only at a pre-determined value.

The statement further talked about how a Power Lease also enables a customer upgrade to other Volkswagen models, avail tax benefits depending on the customer’s financial preferences while providing lucrative buy-back/retain options.

As part of Volkswagen Secure, customer will also get guaranteed residual value along with an assured buyback option. The customer may also choose to retain the car/upgrade to another model with refinance options available from Volkswagen Financial Services.