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Edwin Miles. Underwriting Manager

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Refused Volkswagen Finance

Morning, please can you advise the minimum credit score which Volkswagen Finance accept? I have had 2 previous finance agreements with VW with no late payments (£15k finance on last) but have been refused for a 3rd.

Posted by Dean on


Morning Dean, thank you for your question.

I do know that VW are extremely cautious with their lending criteria and if you've had any missed payments recently on any financial commitments they would likely decline you for finance. I don't know an exact credit score of which you need to be approved however, i'd imagine it would be in the 900 region (with Experian).

Sometimes a finance company can decline you if they think you're over committed too. This happens quite a lot whereby people can have immaculate credit but be a little over stretched with credit cards and loans etc.

Anyway, please apply when you're ready as I'm confident we could get you approved as we have many lenders on our panel. Once approved we provide a no obligation quote and you can buy a car from any dealer. Enjoy your Sunday!

Posted by on

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Hi, Do you know which credit reference agency VW finance uses as I wanted to lease an Audi.

I ask because with 1 agency I have a fair rating and another excellent!!! Many Thanks.

Posted by Nick Meehan on


I'm sorry but I totally disagree, VW Finance has no moral ground for ensuring affordability. My 21 yr old step daughter was pressured into buying another VW Polo after having finance problems with her first polo from VW.

She is a student working only 4 days a week and bringing home less than £800 pm. Her domestic outgoings are £750 pm and VW thought it was perfectly reasonable to authorise a £220 pm over 3 years with a final payment of £8500.00. which meant she had no money to live on and as a result is now ill. VW response to this is "NOT OUR" problem. They refuse to disclose full particulars over their tools and matrix for ensuring not only short term, but long term affordability. They have stitched her up good and proper.

The OFT issue guidance for irresponsible selling, but wont enforce it on a individual case. The FOS (Financial ombudsman service) is as useful as a chocolate teapot on a summers day and the FSA don't want to know either. What on earth is this country coming to? It is disgusting to think the law is on the side of the perpetrator!

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