Volvo confirmed on Wednesday it has extended its guaranteed future value (GFV) finance offering to their electric vehicle (EV) fleet.
The Volvo Versatility Finance scheme was previously only available for the Swedish carmaker's combustion engine vehicles, but in response to growing demand for EVs, the company has added the XC40 Twin Motor Recharge AWD Ultimate to the list of eligible cars while also refining its GFV offering.
According to Volvo, customers can now choose between a 36- and 48-month GFV contract, with a mileage cap of 20,000km a year. Consumers will have the option of putting down a 10% deposit to make the monthly instalment more affordable. Based on a variety of factors such as the chosen term and deposit, consumers can expect to benefit from a GFV of about 60% — 61%, depending on the contract period.
Volvo said the scheme guarantees buyback at a competitive predetermined value — provided the stipulated mileage parameters are not exceeded and the “wear and tear” conditions are met — after the agreed contract term. The customer will then have the option of buying the vehicle outright, refinancing the vehicle, trading it in on a new model or returning it with nothing further to pay.
“Local demand for EVs continues to gain momentum,” Volvo South Africa's Greg Maruszewski. “The extension of our guaranteed future value offering gives more South Africans the opportunity to get behind the wheel of an electric SUV.”
Volvo’s latest GFV offer runs until the end of September.
Volvo extends guaranteed future value finance to electric models
Image: Supplied
Volvo confirmed on Wednesday it has extended its guaranteed future value (GFV) finance offering to their electric vehicle (EV) fleet.
The Volvo Versatility Finance scheme was previously only available for the Swedish carmaker's combustion engine vehicles, but in response to growing demand for EVs, the company has added the XC40 Twin Motor Recharge AWD Ultimate to the list of eligible cars while also refining its GFV offering.
According to Volvo, customers can now choose between a 36- and 48-month GFV contract, with a mileage cap of 20,000km a year. Consumers will have the option of putting down a 10% deposit to make the monthly instalment more affordable. Based on a variety of factors such as the chosen term and deposit, consumers can expect to benefit from a GFV of about 60% — 61%, depending on the contract period.
Volvo said the scheme guarantees buyback at a competitive predetermined value — provided the stipulated mileage parameters are not exceeded and the “wear and tear” conditions are met — after the agreed contract term. The customer will then have the option of buying the vehicle outright, refinancing the vehicle, trading it in on a new model or returning it with nothing further to pay.
“Local demand for EVs continues to gain momentum,” Volvo South Africa's Greg Maruszewski. “The extension of our guaranteed future value offering gives more South Africans the opportunity to get behind the wheel of an electric SUV.”
Volvo’s latest GFV offer runs until the end of September.
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