Volvo Introduces Guaranteed Future Value Deals for Electric Vehicles in South Africa

In a groundbreaking move that echoes the rapidly evolving automotive landscape, Volvo Car South Africa has taken a significant step towards promoting sustainable mobility. For the very first time, the automaker has extended its acclaimed guaranteed future value (GFV) financing program to encompass its impressive electric fleet. This strategic shift not only underscores Volvo’s commitment to a greener future but also caters to the surging demand for electric vehicles (EVs) within the local market.

Traditionally, Volvo’s Versatility Finance scheme was reserved solely for their range of combustion-engine vehicles. However, the winds of change have prompted the Swedish marque to introduce their coveted GFV offering to their electric lineup, with the spotlight shining brightly on the XC40 Twin Motor Recharge AWD Ultimate. This expansion of the program is a clear reflection of Volvo’s dedication to providing diversified and accessible options that align with the evolving preferences of their customers.

The heart of this innovative program lies in its adaptability. Prospective EV owners are now presented with the choice of either a 36- or a 48-month GFV contract period, coupled with the freedom to cover up to 20,000 km annually without worrying about mileage penalties. Furthermore, the flexibility extends even further, as Volvo offers the option to initiate the program with a 10% deposit, effectively rendering the monthly installments even more manageable. The program’s structure takes into account multiple variables, including the chosen contract duration and deposit amount, which collectively yield a projected GFV of approximately 60% – 61% based on the specifics of the agreement.

Volvo’s commitment doesn’t end with just numbers. The automaker’s GFV scheme introduces a refreshing sense of certainty into the EV ownership experience. By offering a guaranteed buyback at a competitive, pre-established value, provided that the vehicle remains within the stipulated mileage confines and adheres to reasonable wear and tear standards, Volvo is turning the page on conventional ownership models. At the conclusion of the agreed-upon contract period, the customer is empowered to make a decision that resonates with their circumstances, whether it involves purchasing the vehicle outright, exploring refinancing options, trading up for a new model, or even returning the car—without any additional financial obligations.

Greg Maruszewski, the Managing Director of Volvo Car South Africa, succinctly encapsulates the significance of this expansion, stating, “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.” This bold move places Volvo at the forefront of the electrification movement, aligning their values with the burgeoning global shift towards sustainable transportation solutions.

Enthusiasts and potential EV adopters need to act swiftly to seize the benefits of Volvo’s latest GFV offer, as it is slated to remain available until the conclusion of September 2023. With this initiative, Volvo Car South Africa has undoubtedly transcended the boundaries of conventional automotive finance, ushering in a new era of convenience, affordability, and forward-thinking mobility solutions. As the wheels of innovation keep turning, Volvo’s commitment to driving progress remains resolute, propelling us all towards a cleaner, more sustainable automotive future.

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