Finty
Volkswagen Financial Services

Volkswagen Financial Services Chattel Mortgage with Volkswagen Choice - Guaranteed Future Value

Chattel mortgageSecured

Volkswagen Choice allows you to safeguard the future value of your vehicle. You choose the term and KM limit that suits your needs and we guarantee the future value^ of your car at the end of the term, subject to fair wear and tear guidelines. You can use Volkswagen Choice with a Consumer Loan or Chattel Mortgage finance product.

Written byDavid Boyd
Interest rate a year, from
8.89%
Establishment fee
$590
Monthly fee
Not published
Borrow
Not published

Monthly repayment

$100,000 over 5 years

Apply now

What it would cost

At the lowest published rate of 8.89%. The rate you are offered depends on your business, and the establishment fee is not included.

Monthly repayment
$2,071
Total repayments
$124,230
Interest
$24,230

Loan details

Rates

Interest rate (a year)
8.89%
Rate type
Fixed
Security
Secured
Type of finance
Chattel mortgage

Limits and fees

Loan amount
Not published
Loan term
Up to 5 years
Establishment fee
$590
Monthly fee
Not published

How it compares

Against the other secured business loans we compare. Typical means the middle half of them.

Cost of $20,000 over 5 years

$5,436

Interest and fees at its starting rate. Typical is $5,512.

Setup fee

$590

A typical setup fee is $590.

Longest term

5 years

5 years is the usual longest term.

Pros and cons

Pros

  • One rate for everyone. Everyone approved gets 8.89%, so the rate you see is the rate you get.
  • A fixed rate. Your repayments stay the same for the whole loan, which makes it easier to budget.

Cons

  • Secured against an asset. That usually keeps the rate down, but the lender can take the asset if you can't repay.
  • An early repayment fee. Paying the loan off early or refinancing can cost a fee, which cuts into what you save by repaying sooner.
  • A $35 late payment fee. Setting up automatic repayments avoids it.

Similar loans

Business loans of the same kind from other lenders that start at a similar interest rate.