Financing a new car is difficult and can be even more so when you're getting advice from multiple different sources. This can lead to the potential for contradictory advice, leading to you getting a loan that you won't be able to afford in the long run.

If you have dreamed of owning the car of your choice, but the prices of new cars have kept you away, then you need to read this blog. Here, you will learn to finance your car from Volvo experts.

Types of Financing

There are a series of options for getting your car financed but the best one is the manufacturer or the car company owner itself. Volvo has financing services that allow its users to trust a more reliable partner. However, you might have to make a choice between two types of car loans:

1. Finance

2. Lease

Finance
Here you can buy a car from a company without paying the full amount for the car but still become its rightful owner. You have to pay a desired amount at the time of purchase and then the remaining amount is distributed into small installments that are to be paid in time until the full payment of the car is received by the car company including interest.

Lease

If you are not a fan of owning a particular model of a car for a long time then this option is for you. Here, you can own a vehicle for a defined period, say for a year or two. You might also own a vehicle according to the range it has moved. After the lease period gets over the vehicle is handed over to the company and you might renew the lease or select another model for a change.

By the time your lease ends, these are the possible offers that you can explore:

1. Lease/Purchase New Volvo

After the end of your ongoing/previous lease, you can opt to buy a new Volvo car.

2. Purchase your Current Volvo

You might have had a good experience with the Volvo car you had on lease. You can contact your Volvo retailer and review options in your VCFS lease agreement and explore financing to determine if your Volvo is eligible for Certification.

3. Extend Your Volvo Lease

You can also extend your lease for the currently owned Volvo car if you do not wish to buy it but still own it.

Volvo Car Financial Services

Volvo has tied up its financial services with one of the leading private banks HDFC. They provide excellent and reliable finance options for any Volvo car purchase. It provides 100% finance options on the ex-showroom price of any Volvo model. Moreover, customers can also rely on easy repayment options with a provision of zero foreclosure charges under specific terms and conditions.

Features of the Financial Services

Here are the most significant traits of Volvo car finance:

• Loan tenure of up to 7 years

• Balloon finance

• Bullet finance

• Step-up finance

• Finance on insurance

• Zero foreclosure fee

• Finance of up to 100% on ex-showroom price

• Coverage for the extended warranty, service package, and accessories

Note: All these schemes and offers are subject to terms and conditions adjourned by HDFC Bank.

How to Apply for Volvo Car Financial Services

Since the service isn't available online mode so stop looking for one. However, the process is seamless and doesn't require much effort. Here's how:

1. Go to the Volvo Car Financial Services website;

2. Visit Shopping Tools, under which you will find Volvo Shopping Tools;

3. Ask to Recieve a quote;

4. Select the blanks asking for the model of the car, contact info, and preferred dealership, and hit the Submit button.

The authorized Volvo executive will connect with you within one business day, followed by your request.

Volvo Car Finance Benefits

A reliable service also comes with reliable perks and here are a few specs that make Volvo Car Finance a must for Volvo car owners:

Exclusive rates

Enjoy rates as low as 2.00% p.a. (flat rate equivalent) with Reducing Balance Term Financing.

Savings

Savings by reducing principal balance payments and low outstanding fees.

Flexibility & Freedom

Option to vary or maintain installment amounts. No penalty fees and no exit charges.

Conclusion

Here at Park+, we are always excited to share our knowledge on car finance and car-related information with people interested in learning more. You might find it confusing to deal with other finance-related terms like insurance. We have everything that you need to know about insurance for your car.

Visit our website for more exciting information related to car insurance and other car-related blogs. We hope you have enjoyed reading this blog post and that it provided you with useful information!