Lease

A car lease is an option if you’re keen to commit to driving a Volvo for a few years without the responsibility of ownership. You choose the term you would like – either 24, 36 or 48 months. The longer the term you select, the lower your monthly payment will be. Making an optional advance payment can further lower your monthly payment. What’s more, your car lease is tailored to match your needs, based on the car, flexible mileage and additional services. When your contract term ends, you simply return the car to us.

You choose the term that suits you - either 24, 36 or 48 months.

No, we don’t demand any advance payment. You can however place an OPTIONAL advance payment if you wish to do so. The advance payment is taken off the total cost of the car lease, with the remaining amount distributed equally over monthly payments until the end of the contract.

Example: Say you select a car that is priced at £500 per month with £0 advance payment for 36 months. Your total lease price for 36 months will be £18,000. If you choose to make an advance payment of £3000, your new monthly payment will be £416 per month. Your credit assessment will be performed on the £416 per month instead of £500 per month.

You will select an annual mileage allowance when you take out your car lease. You may request to change your mileage allowance at any time if you think you will exceed or fall short of your mileage allowance. If you change your mileage:

(i) Before the 25th of the month, your new mileage bucket will be adjusted in your next monthly payment.
(ii) On or after the 25th of the month, your new mileage bucket will be adjusted in the following monthly payment.

A mileage change will recalculate your total mileage. Your new total mileage will be recalculated as the weighted sum of the selected mileage buckets throughout the duration of your contract (see examples below). If you exceed your new total mileage when you return or switch your lease car, you will be charged an excess mileage fee of £0.20 per mile. Please be aware that you will not receive a reimbursement for mileage you do not use.

Example 1: If you choose an annual mileage allowance of 6000 miles (monthly average of 500 miles) and decide to return your car after six months and 15 days, your mileage allowance up to this point would be (500 miles x 6.5 months) = 3250 miles If you exceed 3250 miles when returning your car, you will be charged for the excess mileage.

Example 2: If you choose an annual mileage bucket of 6000 miles (500 miles/month) for the first 12 months, then upgrade to an annual bucket of 18 000 miles (1,500 miles/month) for 6 months, then downgrade to an annual bucket 12 000 miles (1,000 miles/month) for 18 months and then return your vehicle; your total allowed mileage at contract termination will be calculated as: (500 miles x 12 months) + (1,500 miles x 6 months) + (1,000 miles x 18 months) = 33,000 miles

If you exceed 33,000 miles when returning your vehicle, you will be charged for the excess mileage.

The first 7 days of your car lease includes Volvo Driveaway insurance (subject to meeting our eligibility criteria). After that, you are responsible for obtaining your own insurance coverage by either choosing to continue with our fully flexible monthly Volvo Car Insurance or your own cover.

The cost of Volvo Car Insurance varies depending on several factors such as the vehicle you choose, your age, driving experience and where the vehicle is to be kept. You can obtain an indicative quote by filling out your details online here.

Please note that insurance is not included for Fleet & Business Online customers. However, sole traders are eligible for insurance coverage if the insurance is registered in an individual’s name.