Choosing the financial package goes hand-in-hand with finding the right car. We have a range of products to make the purchase of your car a simple process.
For private buyers through Volvo Car Financial Services UK Limited there are many ways for you to finance, hire or lease the right car for you. In support of the finance options we also offer Guaranteed Asset Protection (GAP) Insurance.
We will work with you through your purchase journey to ensure you select the funding method that suits your requirements exactly.
Finance Options Explained in Detail:
Personal Contract Purchase (PCP) is a finance product that allows you the opportunity to buy a new or a used car.
If you like to change your car every 2-3 years, then the Volvo Car Advantage Personal Contract Purchase plan, could be the perfect solution for you. By deferring part of the cost to the end it means you can reduce the length of your agreement, and at the end you have the flexibility to keep, exchange or return your vehicle.
What makes PCP different to Conditional Sale (CS) is that your monthly instalments are paying off the depreciation of the car, and not its entire value, over the course of the term. Then, when you get to the end of your agreement, there is a final, balloon payment that must be made if you want to keep the car. The balloon payment is often referred to also as the Guaranteed Future Value (GFV) or Optional Final Payment. Alternatively you can you return the car or renew.
•You will agree an estimated annual mileage and term. This will be in order to generate the Optional Final Payment.
•You agree on the amount of deposit, and this figure combined with the agreement duration and Optional Final Payment will determine the amount of your monthly payment.
•You sign the agreement, pay the deposit and then make the monthly payments.
•At the end of the agreement we’ll write to remind you of the three available options:
The agreement can be structured to meet your individual requirements based on the car, the agreement duration required, the available deposit and your monthly budget.
After paying the initial deposit you make regular monthly payments to cover the amount borrowed plus any interest and fees. The interest rate is fixed which means you’ll know exactly how much you will repay throughout the term of the agreement. Once all of the payments have been paid the car is yours.
A car subscription is a risk-free, hassle-free and time-freeing alternative to buying or leasing a new car. Truly flexible. Easy to start or stop. With services you need, for a clear cost. So just like TV, music or news, you can now subscribe to a brand new Volvo car. No deposit, no long-term contract, no hidden costs. Just a clear monthly fee that covers most practicalities. All done online. And if life changes, your subscription changes with you. You can switch car or simply cancel with just 3 months’ notice
You order the car you want online – in minutes. No deposit, just a clear monthly fee. No haggling, no hidden costs, no hassle. Your monthly fee includes these time-saving extras:
Unlike buying a car or some personal car leasing, Care by Volvo comes with no deposit, no long-term contract and no hidden costs. You pay a clear monthly fee for your favourite Volvo – and get top-class features, time-saving extras and most operating costs included.*
Why not take a risk-free trial and find out for yourself? The first 30 days include insurance and no exit fee, so there’s no big commitment. Then continue your subscription with our comprehensive insurance offer (or buy your own), and change your car or simply cancel – with only 3 months’ notice.
*Your subscription excludes annual car insurance and consumables such as fuel, AdBlue, washer fluid and oil (unscheduled refills) and charges for speeding, tolls and parking. Read more in our FAQ.
Our car subscription is an option if you want the latest Volvo yet like to keep your options open. A wide range of essential services are included for a fixed monthly payment. You choose which Volvo you would like, along with the mileage that you think most closely fits your needs. You can change your car or cancel your subscription anytime, with only 3 months’ notice. Although some may consider non-ownership a benefit, subscribing, as with renting or leasing, doesn't result in any vehicle ownership at the end of the subscription term. The monthly subscription fee is for using the car during the subscription term and nothing more.
In support of the finance options, we also offer Guaranteed Asset Protection (GAP) Insurance. This is designed to cover those unfortunate experiences such as theft or an accident resulting in the car being written off. GAP insurance ensures the value you get back from your insurer is the original invoice value, not the valuation of the vehicle at the time of the claim.
Depending on the age of the vehicle when the claim was made there could be a gap between how much the insurer is prepared to pay and how much is left on the finance agreement. In this situation, the agreement holder would be liable to fund the difference. GAP insurance provides cover to ensure any difference is protected.
Should you have any further questions please ask a sales consultant who will be happy to help.