I have been extremely interested in Care by Volvo since it was announced. And after seeing the article yesterday by Kristen Lee I decided to contact them directly to get more info because if it is this simple, I would be driving an XC40 in early 2018. But to put it simply: It’s less an actual subscription and more a glorified lease that’s trying to appeal to young people as a subscription if you hadn’t already noticed.
Go on the site, and they make it seem like it’s as simple as choosing your car and options, your service plan and insurance, and then scheduling a pick up for your vehicle at a local Volvo dealer. It’s not. I spoke with some reps at Volvo regarding if it’s that easy. I was informed that they do run your credit though no one could tell me why credit was needed for something that doesn’t require a down payment. I got the runaround and no direct answer except “You can check your credit information through the Volvo site. You will need to run it again 30 days before you pick up your vehicle”.
Here’s what’s bugging me about this. They make it seem simple: choose your trim of XC40, confirm your monthly payment and reserve your car with the $500 deposit, wait for the Concierge to get in contact with you for delivery at your local dealer. But things don’t make sense and point to this being more an actual lease with a marketing gimmick name than an actual subscription. The fact that you have to run your credit, yet there’s no down payment required, you can’t use a trade in because there’s no down payment, and if you do have one, according to the Care site “Your preferred Volvo dealer can assist you with your trade in as a separate transaction”. What would be the point then? Even in the fine print, it states: Excludes taxes, title and registration fees and is available for qualified customers based on FICO score through Volvo Car Financial Services. That makes it seem like Care by Volvo is only available for well qualified lessees which would make this a lease without a down payment.
Like I said I’m really interested in this because it’s so simple. But don’t bullshit us Volvo. If this is a different kind of lease in that it has no down payment just call it what it is. Don’t try and be so trendy and make it seem more simple than it really is. I don’t want to run or use my credit for something I’m “subscribing” to.