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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 financial pressure on users. 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 XC40, its new compact SUV. What’s unique is that customers don’t have to pay the full price upfront — instead, they can pay $600 per month. This is made possible through Volvo’s “Care by Volvo†program, which is the first of its kind in the automotive industry.
The "Care by Volvo" model includes not just the vehicle price, but also taxes, shipping, maintenance, repairs, and insurance — all rolled into a single monthly payment. According to Atif Rafiq, Volvo’s Chief Digital Officer, this method is more user-friendly than traditional car loans. He also emphasized that the payment structure is not only simpler but also more transparent, giving customers full visibility over their expenses.
It's worth noting that Volvo isn't the first automaker to introduce such a model. Porsche offers a similar service, with a monthly payment of around $2,000, while Ford has also launched comparable programs. This trend shows how the automotive industry is evolving to meet changing consumer preferences.
The XC40 is built on Volvo’s latest CMA modular platform, developed jointly by Geely and Volvo. More models, including the V40 and S40, will be based on this platform in the future. The XC40 comes with various powertrain options, such as a 1.5L three-cylinder engine and a 2.0L four-cylinder engine. Hybrid and fully electric versions are also expected to be introduced soon.
(Via: ubergizmo.com)