Volkswagen Credit and Audi Financial Services to Support Automotive Financing Options in Puerto Rico in Agreement With Reliable Auto, from MarketWatch.
SAN JUAN, PR, Apr 16, 2015 (Marketwired via COMTEX) — Volkswagen Credit and Audi Financial Services are pleased to announce an agreement with Reliable Auto to introduce enhanced retail financing options in Puerto Rico. The collaboration, effective immediately, will help increase Volkswagen and Audi market share in Puerto Rico, and enable Volkswagen and Audi dealers to offer customers in Puerto Rico attractive financing options toward the purchase of new vehicles. VW Credit, Inc. (VCI) is the captive finance subsidiary of Volkswagen Group of America (VWGoA), and serves the Volkswagen, Audi and Ducati brands in the United States.
Reliable Auto (Reliable), a subsidiary of Wells Fargo Corporation, which is one of the world’s largest financial services companies, currently holds 135,000 active clients in Puerto Rico.
During a press conference, NÃ©stor Vale, executive vice-president of Reliable, indicated that the new alliance “is a vote of confidence in Reliable’s capabilities and validates the company’s leading role in the local industry. The agreement presents an opportunity to offer quality service to more Puerto Ricans and strengthen its position in the market, while increasing sales for the Volkswagen and Audi Brands.”