Audi Financial Services

[Simpleisgreat]

Hello:

 

Looking for anyone that has had experience with Audi Financial, I realize they are backed by VW Credit.

 

1) Do they offer online preapproval (been unable to locate online)? I realize some disagree with this methodology, but it has been seamless for me when I did it with Daimler, Mercedes, BMW, and Nissan..

 

2) Does the tradeline report as VW Credit or Audi Financial?

 

Any input is greatly appreciated.

[MarvBear]

 

good luck.

[drdre1443]

Audi financial services is an arm of VW credit. They operate separately, but can see everything internally companywide, and vice-versa. There wasn't an online app when I worked for VW 4 years ago. They are VERY loyal to their customers as I have seen approvals for second cars with credit scores in the 500's but perfect VW + Audi payment history. Even first car approvals with top tier financing with b ad credit but perfect VW payment history,

 

They will report as Audi Financial Services. What's great about the way they report is that your high credit/limit will be the "total amount paid" after all payments are paid. So if you get a loan for 30K, after one payment the report will show a 29,xxx balance with a high credit/limit of 35K (example).

 

make sure to never pay 15 days late. Even though they only report 30 days late to CRA's, they have an internal scorecard which looks down upon 15+ days late payments. Their late payments are usually cheap; 5-10 bucks and are charged usually on the 11th day.

 

They can be quirky in reporting as I've seen some reports showing no payment history for 3-6 months, then reports normal, then one month no reporting, then normal again. Not bad but they can take their sweet time in reporting current balance.

[MarvBear]

good to know this. thanks for the information.

[Fern278]

Audi financial services is an arm of VW credit. They operate separately, but can see everything internally companywide, and vice-versa. There wasn't an online app when I worked for VW 4 years ago. They are VERY loyal to their customers as I have seen approvals for second cars with credit scores in the 500's but perfect VW + Audi payment history. Even first car approvals with top tier financing with b ad credit but perfect VW payment history,

 

They will report as Audi Financial Services. What's great about the way they report is that your high credit/limit will be the "total amount paid" after all payments are paid. So if you get a loan for 30K, after one payment the report will show a 29,xxx balance with a high credit/limit of 35K (example).

 

make sure to never pay 15 days late. Even though they only report 30 days late to CRA's, they have an internal scorecard which looks down upon 15+ days late payments. Their late payments are usually cheap; 5-10 bucks and are charged usually on the 11th day.

 

They can be quirky in reporting as I've seen some reports showing no payment history for 3-6 months, then reports normal, then one month no reporting, then normal again. Not bad but they can take their sweet time in reporting current balance.

 

 

Awesome info!!

 

How are they with first time audi/vw buyers? What kind of scores are they looking for?

 

thanks!!

[radiodesignguy]

VW/Audi pulls TU as their main regardless of what the dealer pulls. I was looking at an Audi R8 a while back, and had TU on ice. Even though dealer said EQ score was great, Audi refused the loan without TU pull.

[Bloody but Unbowed]

Not sure where they are looking for now, but we got a New 07 Q7 Prem with ~660 on Exp in 07. This was a first time Audi/VW buyer and prev high credit of 15k (but some pretty high student loans so who knows)

 

I can also agree that their reporting is slow (my report is still stuck on the Aug payment) and the 10 day grace is about right (I forgot once and was about 4 days late and no late charge or anything, they were actually pretty nice when I called)

 

Good Luck

[radiodesignguy]

Not sure where they are looking for now, but we got a New 07 Q7 Prem with ~660 on Exp in 07. This was a first time Audi/VW buyer and prev high credit of 15k (but some pretty high student loans so who knows)

 

I can also agree that their reporting is slow (my report is still stuck on the Aug payment) and the 10 day grace is about right (I forgot once and was about 4 days late and no late charge or anything, they were actually pretty nice when I called)

 

Good Luck

 

Mercedes has some REALLY good offers right now on financing, and you can get by with a sub 650 score and still get a good rate. I know we are talking Audi, but I just recently went into a MB dealer to look at the new E63 AMG on a buy and it was a pretty good deal, especially for AMG because they usually don't "deal" on AMG models.