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2023 Volkswagen ID.4 EV silver color front view
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VW Slashes Interest Rates On Used ID.4 EVs

Volkswagen is offering unusually good deals on used ID.4s this month. According to a bulletin sent to dealers, factory-certified Volkswagen ID.4 EVs offer interest rates as low as 1.99% APR. While this could be a way for electric car buyers to take advantage of the ID.4's depreciation, there are some important limitations.

Through June 3rd, CPO ID.4 models are eligible for 1.99% financing for 36 months, a price cut from 3.99%. On 60-month loans, the rate went from 3.99% in April to 2.99% in May, with no change to the 72-month rate. Interestingly, VW's best rate on its certified gas models is a lot higher at 5.25% on loans up to 60 months.

Volkswagen ID.4 black interior

A used ID.4 could be a way to score massive savings. Volkswagen's website shows manufacturer-certified ID.4s here in the Los Angeles area for less than $25,000. This could enable some buyers to take advantage of a $4,000 tax credit on used EVs under $25,000. The downside is that not every preowned ID.4 is certified.

It's also worth noting that 1.99% financing is limited to loans up to 36 months, and a 3-year loan may not make sense for most buyers. CPO ID.4s benefit from a factory warranty and used ID.4 prices reflect the significant amount of depreciation on preowned EVs. But you may want to weigh your choices carefully.

As CarsDirect reported earlier today, new Volkswagen ID.4s have up to a 30% discount off MSRP. On some trims, there's now as much as $17,500 in national lease cash. In Southern California, VW is even advertising $18,750 off the high-end ID.4 Pro S Plus. That's the biggest discount we've ever seen on the ID.4.

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      As CarsDirect’s resident pricing expert, Alex offers must-know analyses of pricing & incentives to those looking to buy or lease a car. His consumer-oriented coverage of the latest trends and breaking news has been featured by The Wall Street Journal, Fox Business, Motor Trend, Automobile Magazine, and more.

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