Volvo PURCHASE PLAN
Funding made easy, Volvo purchase plan is a traditional scheme, providing simple fixed rate funding to buy your car. After a deposit, the remaining cost of the vehicle, plus interest, is repaid in equal payments resulting in eventual ownership of the vehicle.
- Suitable for non VAT-registered customers.
- Fixed known payments.
- At the end of the agreement you own the car.
Volvo FLEXIBLE PURCHASE PLAN
With the Volvo flexible purchase plan you have all the benefits of your purchase plan product, but with the convenience to defer part of the capital cost of your vehicle to the end of your agreement (known as a balloon payment), thus allowing you to tailor the funding solution to meet your budgetary requirements. The payment of this final “balloon” payment results in ownership of the vehicle.
- Suitable for non - VAT registered customers.
- Added flexibility by providing fixed known payments.
- At the end of the agreement, you own the car (the final balloon payment must be paid).
Volvo ADVANTAGE
Volvo advantage is a personal contract purchase agreement offering risk-free Volvo ownership – giving you the ability to pick and choose. At the start of your agreement Volvo Car Finance estimate the minimum value of your Volvo at the end of your contract term (2 or 3 years). This amount is determined by how much mileage you think you will be covering per annum. The minimum end value is called the Guaranteed Minimum Future Value (GMFV).
The deposit and GMFV are then deducted from the invoice price and your repayments are based on the balance plus interest. At the end of the agreement you have three choices:
- You can part exchange your car for another Volvo. The GMFV amount is deducted from the part exchange and any excess may be the deposit on your new Volvo.
- You can buy the car by making the final GMFV payment (Volvo Car Finance can also refinance this payment, subject to status).
- Return the car to us with nothing more to pay, subject to mileage and condition.
- Lower payments than with Volvo Purchase Plan.
- Defers part of capital cost of the car to the end of the agreement. The deferred amount is guaranteed by Volvo to be the minimum end value of the car*.
- The payment structure often means that you can enjoy a more enhanced spefication then you may have considered
- Enables car change every 2/3 years.
- Flexibility at the end of the agreement.
- Available on new or used cars up to 3 years old.
- Suitable for customers opting out of their company car schemes.
- A smaller deposit is available for customers opting out of company cars (this is subject to status).
* Subject to mileage and condition of the car.
CASHPLAN ADVANTAGE
This plan offers similar benefits to Volvo advantage with one difference: you have the option of paying one single up-front payment instead of repayments, so you can keep the change – still retaining the benefit of a guaranteed minimum future value (GMFV) at the end of the contract.
Cashplan Advantage is suitable for customers who have the benefit of a larger deposit or who can fully fund the car and wish to take advantage of the flexibility of a Guaranteed Minimum Future Value (GMFV).
- Suitable for cash customers.
- No repayments*.
- Defers part of capital cost of the car to the end of the agreement. The deferred amount is guaranteed by Volvo to be the minimum end value of the car **.
- Available on new or used cars up to 3 years old.
*Other than initial payment and optional final payment (GMFV)
** Subject to mileage and condition of car.
