Volvo and the CEFC cut 1.00% off EV loan rates
Volvo is offering a 1.00% p.a. discount off its standard loan rate on eligible electric models. The structure is worth noting: the Clean Energy Finance Corporation contributes 0.50% of the discount and Volvo funds the other half.
This is a discount off the standard rate rather than a fixed headline rate, so what you actually pay depends on the rate you are quoted in the first place.
Eligibility
- Applies to a Volvo Car Financial Services Consumer Loan or Chattel Mortgage.
- The vehicle must have a base retail price at or below $91,387 including GST. This threshold is tied to the luxury car tax fuel efficient vehicle limit, so it rules out the upper end of the Volvo EV range.
- Finance to approved applicants only.
The fees
Establishment fees of $520 to $590 apply depending on the product. On a smaller loan amount those fees can eat into a meaningful share of what the rate discount saves you, so compare the total cost of credit rather than the rate alone.
Who misses out
Government, novated lease, fleet, and rental buyers are excluded. If you are considering a novated lease on a Volvo EV, this particular discount is not available to you.
Key details
- 1.00% p.a. off the standard loan rate, with 0.50% contributed by the CEFC.
- Available for a limited time at participating Volvo retailers.
- Not combinable with some other Volvo offers. Confirm before you order.
Volvo reserves the right to modify, extend, or withdraw this offer. Confirm current rates, fees, and eligibility with your Volvo retailer before you commit.
