Since mid-April of this year, buyers of new Volkswagen vehicles in Puerto Rico have been able to finance their purchase through Volkswagen Credit.
The new retail financing option is the result of a collaborative agreement between Volkswagen Credit, the captive finance arm of Volkswagen Group of America, and Wells Fargo Corporation subsidiary Reliable Auto. Volkswagen says that the new option will help it increase market share in Puerto Rico while enabling its dealers to offer customers attractive financing options toward the purchase of new vehicles.
In looking for a strategic partner for the endeavor, Volkswagen Credit evaluated various auto financing institutions in Puerto Rico. According to Richard Howse, VP Marketing & Business Development for Volkswagen Credit, Reliable was selected because “of its recognized position in the local automotive market, which illustrates the company’s knowledge, experience and customer service acumen.”
With approximately 135,000 active clients note, Reliable is currently the largest vehicle financing company in Puerto Rico.
“Our goal is to increase our brands’ market share in Puerto Rico, and enable Volkswagen and Audi dealers to offer customers attractive financing options toward the purchase of new vehicles,” said Howse. The financing support also applies for Audi customers in Puerto Rico.
Volkswagen vehicles are currently available at two Volkswagen franchised dealers in Puerto Rico: Autos Vega Kennedy and Flagship Volkswagen in Bayamón.