captive
Volkswagen Financial Services (VWFS) has announced that it has
already lent £1bn to consumers so far this year, thanks to “record
sales growth”.
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In previous years, the captive hit the £1bn milestone in the months
of December (2006) and October (2007). The £1bn lending figure
represents finance on 72,803 vehicles sold through the UK’s
Volkswagen retail outlets.
MD Graham Wheeler said: “The credit crunch has not affected our
lending abilities as we have such a strong portfolio. This means
that we are able to offer some very competitive deals on vehicle
finance and contract hire, and an increasing number of people have
been taking advantage of this rather than going to banks for
loans.”
