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Volvo officially launches staged car purchase: Care by Volvo for XC40 early adopters
Under the "Care by Volvo" model, the cost of the vehicle, taxes, shipping, maintenance, repairs, and insurance are all included in the monthly payment. According to Atif Rafiq, Volvo's Chief Digital Officer, this method is more convenient and user-friendly compared to traditional loans. He also emphasized that the payment structure is not only simpler but also more transparent. It’s worth noting that Volvo isn’t the first automaker to introduce such a system—Porsche and Ford have similar programs in place, with monthly payments around $2,000.
The XC40 is built on Volvo's latest CMA modular platform, a compact vehicle architecture developed jointly by Geely and Volvo. Future models like the V40 and S40 will also be based on this platform. The XC40 offers multiple powertrain options, including a 1.5L turbocharged three-cylinder engine, a 2.0L turbocharged four-cylinder engine, and later will include hybrid and fully electric variants as well.
This innovative approach is changing how consumers think about car ownership, making it more flexible and affordable. As more automakers follow suit, the future of car purchasing may look very different from what we're used to today.
Volvo officially launches staged car purchase Care by Volvo: XC40 early adopters
Due to the high cost of flagship smartphones, many providers offer monthly installment plans. In a way, this helps reduce the financial burden on users on a daily basis. Now, car manufacturers are following a similar approach. Volvo is one of the pioneers in this space. At the 2017 Los Angeles Auto Show, Volvo introduced the new compact SUV, the XC40. What's unique about this model is that customers don't have to pay the full price upfront. Instead, they can opt for a monthly payment of $600. This is made possible by Volvo's "Care by Volvo" program, which is the first of its kind in the automotive industry.