Finance FAQs
Find your question
General
How much can I borrow?
Eligible customers can borrow up to 100% of the cost of their vehicle, including all on-road costs, insurance and even registration. Of course, the amount you can borrow depends upon your personal situation and the type of finance you want to arrange. Your Business Manager can help you work out exactly how much you can borrow when you visit your Škoda dealership.
What information do I need to provide to apply for a new vehicle finance contract?
We’ll do everything we can to help you take home your new Škoda as soon as possible - but to do that, we need some information from you, such as:
- Why you’re buying a vehicle - is it for business or personal use?
- Your current driver's licence number and its expiry date.
- How much you earn. Make sure you bring recent pay slips with you, or if you’re self-employed, your last annual financial statements and tax returns.
- Information about your assets, savings and investments.
- Your monthly income, before tax, and your monthly living expenses.
- Information about other loans or finance you have, such as home loans, personal loans, credit cards and store accounts.
- How much you owe on each of your loans.
- Your address and place of work for the past three years.
Your Business Manager may also ask you for other personal information, depending on your situation.
Is arranging finance through a car dealer expensive?
It’s a common myth that finance from your car dealer always costs more than finance from a bank. We can actually provide solutions that are great value and affordable, as we can customise your finance and insurance to suit your particular situation. We think you’ll be pleasantly surprised at our competitive rates, and enjoy our personalised finance and insurance options and unbeatable service.
How do I know which finance product to choose?
This will depend on your circumstances and what you want to achieve with both your vehicle and your finance package. The decision between purchasing or leasing is a good place to start your product research, and there’s lots of information on the rest of this site too. A Škoda Financial Services Business Manager will be able to walk you through your options in the dealership. You should also ask your accountant about which finance solution would suit your requirements.
Where can I get Škoda Financial Services?
Use our 'Find a dealer' tool to find Škoda dealerships near you. Our Preferred Dealers all have Škoda Financial Services specialists ready to help you find the best package possible.
Can I apply for finance if I am in Australia on a visa?
This will depend on your individual circumstances and the type of visa you have. You should talk to the Business Manager at your local dealership for more specific advice.
Are your interest rates fixed or variable?
Our interest rates are fixed for the life of your contract term. So they’re easy to budget for, with no unexpected rate rises.
What is the difference between a balloon payment and residual value?
The residual value is simply the estimated value of your vehicle once your lease contract expires. A balloon payment is a lump sum payment to be made at the end of your loan contract. With a balloon payment you have three choices on how to cover it: simply pay it and keep your vehicle; pay it with the proceeds of your vehicle sale (you may need to cover the shortfall if the sale price does not exceed the balloon); or trade your vehicle in for a new one or refinance.
How can I provide feedback?
We’re always looking for ways to improve our service, so we welcome any feedback you have. The easiest way to get in touch is to contact our Customer Resolutions Team.
Is there a time limit on providing a complaint?
In most cases the sooner you inform us of a problem, the easier it will be to resolve. But generally, there is no time limit for telling us about your concerns.
Will the information I provide be kept confidential?
Yes. It is covered by the same confidentiality and privacy rules as the finance we provide you.
Can someone else make a complaint on my behalf?
Yes. However, you will need to give us your written consent that you give authorisation to another person to pursue the complaint. This is so we do not breach your privacy when we discuss your complaint with them.
Škoda Choice
What models are available with Škoda Choice?
All new and demonstrator Škoda vehicles are available with Škoda Choice. Visit your local Škoda dealer for more details.
What finance terms are available with Škoda Choice?
Škoda Choice is available on terms ranging from 12 to 60 months. Terms offered are subject to change.
What happens if I exceed the kilometre restrictions?
Your contract will specify the excess kilometre charge that is payable, if you exceed your chosen kilometre range and choose to return your vehicle.
Am I able to finance factory options, warranty and insurance under the Škoda Choice program?
Yes. Your Business Manager can tell you more.
What is the ‘acceptable condition’ of a vehicle?
You can find more information about Fair Wear and Tear requirements by downloading our guide here.
Where do I apply for Škoda Choice?
The Business Manager at your participating Škoda dealership will be able to give you more information and help you choose a finance solution to meet your needs.
Existing customer
Can I access my account online?
You can manage your vehicle finance using our online finance platform – myFinance Portal. It only takes a few minutes to sign up. Once you’ve registered, login using your email address as your username.
What can I do on myFinance Portal?
Enjoy the flexibility of managing your vehicle finance, from one convenient place online. Some of the features you can expect to see:
- Keep track of your repayments and loan balance
- View your vehicle and loan details
- Change your direct debit details
- Download statements
- Update your personal contact details
- Request a copy of your contract
- Payout generator - coming soon
How do I make extra repayments towards my loan?
You can make extra repayments through online transfer, BPAY or branch deposit. Please be advised a $4.50 non-direct debit fee is payable for the above options. To be provided with the transfer or BPAY details please send us an enquiry or email customerservice@vwfs.com.au
Can I sell my car whilst it is under finance?
Škoda Financial Services holds security over all vehicles financed with us. You may negotiate with a purchaser to sell your car, however you are obligated to pay your loan in full upon the sale of your financed vehicle.
You can obtain a final payout quote and details on how to pay by submitting an online enquiry, emailing customerservice@vwfs.com.au or phoning 1300 734 567. We are unable to confirm this amount to the purchaser due to privacy, so simply pass them a copy of the Payout letter that you can request from our office.
Once my loan is finalised, when is the PPSR removed?
The PPSR/Financial interest will be removed exactly 7 days after we receive the full payout amount to finalise your loan. This is to allow time for the payment to clear.
Can I change my payment amount?
Provided your payments are not less than the minimum monthly repayment, you can change the amount. You can also choose to make your payments weekly or fortnightly. Please submit an online enquiry or email customerservice@vwfs.com.au and we will be happy to help you update your payment amount.
How can I obtain a copy of my loan statement?
To receive a copy of your loan statement you can login into the myFinance portal here or please submit an online enquiry or email customerservice@vwfs.com.au and we will be happy to arrange a statement for you. Please allow 1-2 business days to receive the requested statement.
Can I arrange my statement to be sent to me automatically?
Unfortunately statements are not sent automatically. Every customer is entitled to one statement free of charge every 12 months upon request. Any additional statement within a 12 month period does incur a $20 document fee as outlined in your loan contract.
How can I authorise a third party to have access to my Škoda Finance account?
You may authorise a person, over 18 years of age, to obtain information about your loan account. To authorise a third party please complete, sign and return the third party authority form to customerservice@vwfs.com.au. To complete the third party authority form, please click here.
Please allow two working days to update your account. Please note that this authority will enable a third party access to information and make changes to your payments or direct debit.
How do I change the account my payments are debited from?
To amend the banking details which your payments are debited from, you can change your direct debit details via the myFinance portal here or please complete the direct debit request form, please click here.
Can I transfer my finance to another person?
Škoda Financial Services are unable to offer a transfer of finance. If you are considering changing the vehicles ownership to another party, the loan will need to be paid out in full. If you would like to obtain a payout figure and information on how to pay, please submit an online enquiry or email customerservice@vwfs.com.au and we will be happy to provide you with this information.