Previously, the Volvo Versatility Finance scheme was available only for the Swedish firm’s combustion-engined vehicles, but in response to growing local demand for electric vehicles (EVs), the company has added the XC40 Twin Motor Recharge AWD Ultimate to the list of eligible cars, while also further refining its GFV offering.

According to Volvo, customers will now have the flexibility to choose between a 36- and a 48-month GFV contract period, with a generous mileage cap of 20 000 km per annum in each case. Moreover, consumers will have the option of putting down a 10% deposit to make the monthly instalment even more affordable. Based on a variety of factors such as the chosen term and deposit, consumers can expect to benefit from a GFV of approximately 60% - 61% depending on the chosen contract period.

Volvo says 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-upon contract term. The customer will then have the flexibility of either buying the vehicle outright, refinancing the vehicle, trading it in on a new model or simply returning it, with nothing further to pay.

“Local demand for EVs continues to gain momentum. The extension of our guaranteed future value offering gives more South Africans the opportunity to get behind the wheel of an electric SUV,” says Greg Maruszewski, Volvo Car South Africa’s Managing Director.

Volvo’s latest GFV offer runs until the end of September 2023.