Volvo Financing Deals
|Loan terms |
Up to 85 months
*Limited-time promotional rate, check with your local Volvo dealer for current pricing and terms.
Volvos have a longstanding reputation for safety innovation and sleek European style. The Swedish carmaker has pioneered safety advances like three-point safety belts, rear-facing child seats and side-impact airbags.
Volvo began making cars in its Scandinavia homeland in 1927, but today’s cars and SUVs are built in other regions of Europe, the United States and China. You can finance or lease a new or certified pre-owned Volvo through Volvo Car Financial Services (VCFS). VCFS offers qualified buyers competitive interest rates and flexible lease terms.
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Volvo financing options
Buying a Volvo
If you are preapproved for an auto loan from Volvo, you can shop for a new vehicle at one of Volvo’s nearly 300 authorized dealerships in the U.S. VCFS offers affordable and competitive financing on new and Volvo Certified Pre-Owned cars, with terms up to 85 months.
Luxury carmakers like Volvo rarely offer 0% APR financing, but you may be able to secure a low promotional rate if you’re considered a well-qualified buyer. You can often find rates as low as 4.99% APR for some select models, though for most Volvos, the promotional rate is 5.99% APR with terms up to 72 months. To receive the promotional rate, you may have to select a car from the dealer inventory on the lot rather than order a vehicle with the colors, trim level and accessories you want.
You can also finance a certified pre-owned (CPO) Volvo sedan or SUV. A Certified by Volvo vehicle must be four years old or newer and have fewer than 80,000 miles. For CPO vehicles from model years 2019 to 2022, Volvo offers rates as low as 5.99% APR for 72 months.
Volvo doesn’t publish information on its credit score requirements, but typically, a FICO credit score of 740 or higher is considered very good and may help you qualify for better rates. Check with your local dealer because each dealer may have its own qualifications and promotions.
Leasing a Volvo
For drivers who prefer to lease a vehicle, Volvo offers terms from 24 to 48 months, with a choice of mileage options. The standard program is 15,000 miles per year, but you can choose from 7,500 to 30,000 miles per year. Keep in mind that higher mileage plan will also result in a higher monthly payment. Additional miles cost $0.25 per mile, so it might be wise to opt for more miles at the start.
You can reduce your monthly payment by making multiple security deposits at lease signing. At the end of your lease, the additional security deposits are refunded. Volvo also offers the option to make a single payment at lease signing. Business leases are also available.
Guaranteed auto protection, in the form of a GAP waiver, is included in the lease agreement at no extra charge. There is, however, a $450 disposition fee at the end of the lease, unless you choose to refinance the vehicle.
The Care by Volvo program gives drivers the option to pay an all-inclusive fee that includes up to 1,250 miles per month, maintenance, insurance, protection for tires and wheels, excessive wear coverage and roadside assistance. There’s no long-term commitment, and users can cancel after the first five months, depending on state regulations (though if you live in Illinois, you can cancel after 12 months).
Volvo financing pros and cons
Volvo Car Financial Services may be the right choice if you prefer dealer financing — but as with any financial product, it’s important to weigh the pros and cons before signing on the dotted line.
Interest rates on a new Volvo start at 4.99% APR
Offers incentive rates on specific models that could be lower than market rates
Offers an all-inclusive monthly subscription that can be canceled after five months in most states
Financing is limited to new and CPO Volvos
Must apply through Volvo dealership
Limited information about financing and lease terms is available — you’ll need to speak with a dealer for current rates and terms
A closer look at Volvo financing
VCFS provides competitive and flexible financing options for your new Volvo. Buyers enjoy low finance rates on new and certified pre-owned Volvos, with terms up to 85 months. VCFS also offers leasing with a range of mileage plans and terms. Use an auto loan calculator to compare rates from VCFS and other lenders.
Volvo provides a few special offers for specific buyers. To take advantage of these incentive programs, you must verify your eligibility online through ID.me to get your Volvo PIN. Bring your PIN to your Volvo dealer when you’re ready to buy or lease a new Volvo.
- Stateside military: Military members who are stationed in the U.S. can receive a $500 bonus incentive when purchasing or leasing a new or CPO Volvo.
- Overseas military: Active duty military personnel and U.S. diplomats who are stationed overseas are eligible for significant savings below U.S. MSRP, plus three years of complimentary scheduled maintenance, when they buy a new Volvo. Service members stationed in Europe can drive the car for up to five years before shipping it stateside to a U.S. dealer.
- Affinity offer: First responders, medical professionals and teachers may be eligible for a $500 incentive bonus when they purchase or lease a new or CPO Volvo.
Additionally, VCFS offers a few incentive programs for certain buyers and lessees:
- EV lease: VCFS offered a limited-time $7,500 lease bonus on selected Recharge electric vehicles.
- Loyalty cash: Drivers who currently own or lease any model year Volvo or Saab vehicle, or who have owned or leased in the past six months, are eligible for $500 bonus cash on their new Volvo purchase.
- Volvo College Graduate program: New grads have the opportunity to finance their Volvo purchase with a 5% down payment, upon credit approval.
- Expatriate program: Business professionals who live outside the U.S. may be able to finance or lease without establishing a U.S. credit history. The contract length is limited to the length of stay determined by the applicant’s visa and employment contract, subject to credit approval with VCFS. These consumers are also eligible for the subscription-based Care by Volvo program.
How to apply for financing through Volvo
VCFS allows you to begin the loan application process online, but you’ll have to visit your local Volvo dealer to complete the paperwork and secure financing.
- Visit Volvo’s home page
- Select “Find a Retailer” at the upper right of the page
- Enter your ZIP code and select a Volvo retailer near you
- On your local dealer’s website, select “Finance & Offers”
- Click on “Finance Application” in the Finance Center list
- Fill out the Finance Application and submit it
To complete the application, you’ll need to submit personal details like your name, Social Security number, address, housing and employment information. Once you’ve submitted your request, the Volvo dealership you selected will contact you.
How Volvo financing compares
Volvo Car Financial Services offers similar interest rates and terms compared with banks and online lenders. But even if you think financing through VCFS aligns with your needs, it’s still a good idea to shop around for auto loans before signing on the dotted line.
|Volvo||Mercedes-Benz||Bank of America|
|Terms||Up to 85 months||24-72 months||Up to 72 months|
|Amounts||Not disclosed||Not disclosed||$7,500 and up|
|Min. credit score||Not disclosed||Not disclosed||Not disclosed|
Frequently asked questions
From time to time, Volvo does offer 0% APR financing, but it isn’t common. However, as with any auto financing, the best deals are reserved for the most well-qualified buyers. To know whether you’ll qualify for Volvo’s current promotional offer, visit your local dealership.
Volvo doesn’t disclose a minimum credit score for financing, but generally those with scores of 740 and above qualify for better rates.
Yes, the Care By Volvo car subscription program requires a credit check.