Volkswagen Financial Services: Difference between revisions

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 == Which percentage of cars in VW Financial are lease vehicles and have to be resold? → Would a drop in used cars prices cause a problem?==
-   In Q3 2022 VW CC, they said that there's an increased share of leasing contracts in the fleet business.
+In <u>Q3 2022 VW CC</u>, they said that there's an <u>increased share of leasing contracts</u> in the fleet business.  Even if used car <u>prices drop</u> this may <u>not</u> be a problem. As most cars would be <u>cheaper</u>, most of the cars that VW sells after their lease expires will get <u>sold more easily</u> because of the lower prices.  Also, the <u>positive trend in the financing of used vehicles</u> continued in the first nine months of 2022; in particular, the sale of after-sales products such as servicing, maintenance and spare parts agreements <u>increased</u>. The volume of <u>loans and receivables increased moderately</u> in the first half of fiscal year 2022.  <u>VW Financial IR H1</u> : Volkswagen Financial Services is deliberately focusing on the advantages of leasing for electric mobility and assumes that around '''80%''' of Volkswagen Group electric vehicles <u>will be leased or financed</u> through Financial Services.
-   Even if used car prices drop this may not be a problem. As most cars would be cheaper, most of the cars that VW sells after their lease expires will get sold more easily because of the lower prices.
-   Also, the positive trend in the financing of used vehicles continued in the first nine months of 2022; in particular, the sale of after-sales products such as servicing, maintenance and spare parts agreements increased.
-   The volume of loans and receivables increased moderately in the first half of fiscal year 2022.
-   VW Financial IR H1 : Volkswagen Financial Services is deliberately focusing on the advantages of leasing for electric mobility and assumes that around 80% of Volkswagen Group electric vehicles will be leased or financed through Financial Services.
-   New vehicle deliveries declined, which consequently also led to a fall in vehicles available on the used vehicle market. Despite this, there was a year on year rise in the number of leases for new vehicles, both for private and for fleet customers. On the other hand, new financing agreements for new and used vehicles, as well as for direct business went down compared with the previous year
+New vehicle deliveries <u>declined</u>, which consequently also led to a <u>fall in vehicles available</u> on the used vehicle market. Despite this, there was a year on year <u>rise</u> in the number of <u>leases for new vehicles</u>, both for private and for fleet customers. On the other hand, new financing agreements for new and used vehicles, as well as for direct business <u>went down</u> compared with the previous year
-   ''More information about car financing and leasing in the US :''
+====== ''More information about car financing and leasing in the US :'' ======
+<nowiki>https://fortunly.com/statistics/car-loan-statistics/</nowiki>
-<nowiki>https://fortunly.com/statistics/car-loan-statistics/</nowiki>
+-More than '''85%''' of new cars in US are financed.
-   -More than 85% of new cars in US are financed.
-   -More of the used cars were financed, however: 55.5% compared to 54% in 2018.
+-More of the used cars were financed, however: '''55.5%''' compared to 54% in 2018.
-   -Delinquency rates for auto loans have been dropping for years. “Serious delinquency” - missing a payment date by 90 days or more - hit an all-time high in 2010. It’s been less than 5% ever since.
+-Delinquency rates for auto loans have <u>been dropping for years</u>. “Serious delinquency” - missing a payment date by 90 days or more - hit an <u>all-time high</u> in 2010. It’s been less than '''5%''' ever since.
-   -Just as the total car-loan debt is growing, so are monthly payments. In 2019, the average car payment per month rose to $467. For new vehicles, the increase was by 5.6% up to $554, while monthly payments for used cars went up to $391 (an increase of 4.9%). The average monthly lease payment rose to $457.
+-Just as the total car-loan debt is growing, so are monthly payments. In 2019, the average car payment per month rose to '''$467'''. For new vehicles, the increase was by '''5.6%''' up to '''$554''', while monthly payments for used cars went up to '''$391''' (an increase of <u>4.9%</u>). The average monthly lease payment rose to '''$457.'''
-   -On average, car loan term is 6 years. Borrowers under 30 are struggling with their car loans
+-On average, car loan term is <u>6 years</u>. Borrowers under 30 are struggling with their car loans.
 ===='''Q5: How fast are refinancing conditions for VW Financial worsening and what is the impact of this going to be?'''====