FAQs

General

Why ŠKODA Financial Services?

At ŠKODA Financial Services, our aim is to help you experience the joy of driving a new ŠKODA as quickly and easily as possible. We offer a full suite of finance solutions to suit individuals, families, and businesses of all sizes. And because you can choose your vehicle, finance, and insurance all at once in the same place, we save you time and effort making owning a new vehicle a breeze.

How much can I borrow?
Eligible customers can borrow up to 100% of the cost of your 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 getting finance from 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.

Get in touch with one of our Business Managers at your nearest ŠKODA dealer to find out exactly how much your finance solution would cost.

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 tax position.

Where can I get ŠKODA Financial Services?
Use our 'locate 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.

What are your interest rates?
Our interest rates align with market conditions. But we also regularly offer special rates to make owning a ŠKODA even more affordable. You can ask your local Business Manager what our current rates are.

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 or hire 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 us online using the 'Feedback' option.

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.

What’s the difference between a Novated Lease, Finance Lease, Hire Purchase and Chattel Mortgage?
While some finance options may seem similar, they can actually make a big difference to what you need to pay, how you make your repayments and the kinds of tax deductions you can claim. That’s why we make it part of our service to sit down with you and discuss your financial situation before we work out which option will work best for you.

It’s also vital that you talk to your accountant, who can help you choose the option that best suits your financial situation.

Leasing

What is FBT?

The Commonwealth Government charges a fringe benefits tax (FBT) on any employee benefits you receive that aren’t part of your salary, including a work vehicle. They calculate FBT every year from 1 April to 31 March. While your employer pays the FBT, they usually charge it back to you as an extra pre-tax payment. Talk to your accountant for more information.

ŠKODA Choice

Am I able to finance factory options, warranty and insurance under the ŠKODA Choice program?
Yes. Your Business Manager can tell you more.

What finance terms are available with ŠKODA Choice?
ŠKODA Choice is available on terms ranging from 12 to 48 months.

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.

What is the ‘acceptable condition’ of a vehicle?
You can find more information about Fair Wear and Tear by downloading our guide under the Maintenance section.

What models are available with ŠKODA Choice?
All new and demonstrator ŠKODA vehicles are available with SKODA Choice. Visit your local ŠKODA dealer for more details.

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.
You can check the list of participating dealerships here .

Existing Customer

How can I change my payment method or direct debit?
Click here to update your details online, or call us on 1300 734 567.
Direct debit payments must in the same name as your finance contract - third-party direct debit payments can’t be processed.

How do I update my contact details?
Click here to update your details online, or call us on 1300 734 567. Please make sure you have your contract number handy.

Can I change my repayments?
Click here to update your payment amount, date or frequency details online, or call us on 1300 734 567.

I’m selling my car - what do I need to do?
Before you sell, you need to pay out your contract in full. Click here to enquire about how much you need to pay, or call us on 1300 734 567.

How do I make a ŠKODA Insurance claim?
You can contact our ŠKODA Insurance help line on 1300 138 669 and they will be able to assist you.

Can I get a copy of my contract or the terms and conditions?
Of course. To request a copy of your contract, click here , or call us on 1300 734 567.
You can also request a copy of your terms and conditions. Depending on your contract, you may also have a variance letter, signed at the same time you signed your contract.

What is ŠKODA Financial Services’ BPAY biller code?
Our BPAY biller code is 44255.
To find the BPAY Reference Number for your contract, please refer to your Welcome letter, or contact our Customer Support team on 1300 734 567.

What should I do if I am experiencing financial hardship?
You should contact us immediately if you are experiencing financial hardship so we can discuss your options with you. Please either fill out our online Existing Owner ‘Hardship’ enquiry form here , or call our Customer Care Team on 1300 734 567.

When do I have to pay my residual/balloon payment?
We’ll send you a notice to let you know when your payment is due, usually a month before you need to pay. If you would like to know the date in advance or check your options, please call us on 1300 734 567. Remember to have your contract number handy.

How much is my current payout amount?
Click here to enquire about your payout amount online, or call us on 1300 734 567.
Please note that the payout figures we give you are only valid for the day they are issued.

I’m changing employers - what happens to my Novated Lease?
Find out if your new employer will take over your Novated Lease agreement. If they’re happy to do this, let us know their details by clicking here or calling us on 1300 734 567.
If your new employer won’t take over the agreement, you’ll need to enter into a new contract with us in order to keep your vehicle. To do this, call us on 1300 734 567. Please have your contract number handy.

Can I make extra payments on my contract?
Yes, call us on 1300 734 567 to let us know how much and how often you would like to pay. If you are paying extra now to get ahead so you can suspend payments later on, please let us know when you call.

Can I suspend my payments?
Yes. You can temporarily suspend payments, provided you’ve made extra repayments in advance so your repayments can still be covered. Call us on 1300 734 567 to find out more.

My registration or engine number has changed - what happens now?
Please tell us immediately of any changes to your registration number or VIN so that we can update your finance contract to match the details in the vehicle registry in your state. If you fail to tell us of a change, your contract might be confused with another vehicle, and it may delay settlement when your contract ends.
Click here to update your registration details with us online here, or call us on 1300 734 567. To update your VIN number, please call us on 1300 734 567. Be sure to have your contract number handy.

Can I refinance my contract into a 3rd party’s name?
No, we can’t change the name on your contract. You’ll need to pay out your existing contract, and the third party will need to arrange their own finance.

What are my options when my contract ends?
If there’s a residual on your contract at the end of the term you can either pay it out and end your contract, or refinance the residual amount. To get a refinance quote:
• Personal use vehicles - click here to enquire about your options online, or call us on 1300 734 567.
• Commercial use vehicles - contact the dealership you bought your vehicle from for help to refinance your vehicle.

Can I get a monthly statement?
Yes, however, we only provide one statement a year free of charge - any additional statements incur a fee.
Click here to request a statement online or call us on 1300 734 567.