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New car sales activity revs up in June as bargain hunters snap up EOFY deals
Car shoppers were out and about in June, with more than 110,000 new vehicles sold in the month.
Volvo Cars is an automobile manufacturer of Swedish origin. As the name might suggest, Volvo Cars was originally part of the Volvo Group, aka AB Volvo, which produces construction equipment, buses and heavy-duty trucks.
However, despite still sharing a name and a logo with the brand, Volvo Cars has not been owned by AB Volvo since 1999, when it was sold on to Ford. It is now owned by Chinese manufacturer, the Geely Holding Group, and has been since 2010.
The first car produced by Volvo was the Volvo ÖV 4, an open carriage, four-cylinder vehicle, which launched in 1927.
About Volvo cars
Volvo’s roots lie in robust cars manufactured for cold, harsh conditions. They have SUV, sedan, cross country and wagon models. Models include:
- 2018 Volvo V40 T4 Inscription ($46,878): a six-speed automatic sedan with 2.0L, four-cylinder T4 turbo intercooled, 17-inch alloy wheels, cruise control and a high performance multi-media system
- 2017 Volvo XC60 luxury ($56,888): a 2.4L, five-cylinder, six-speed automatic wagon, all-wheel drive with diesel engine
- 2017 Volvo S90 Inscriptio ($75,888): an eight-speed automatic, diesel sedan with 2.0L 4-cylinder D5 twin-turbo engine
- 2017 MY18 Volvo XC90 D5 R-Design ($98,888): an eight-speed automatic wagon with 2.0L 4-cylinder diesel engine and 12.3-inch digital driver display
- 2019 Volvo XC60 T5 Inscription (call dealer for price): an eight-speed automatic wagon with 2.0 litre, 4-cylinder T5 turbo intercooled engine, 20-inch alloy wheels, 360-degree camera and high performance audio system
Volvo is best known for its family-friendly, functional automobiles, with a reputation for safety over style.
In recent years, however, Volvo has hit the market with some slicker-looking models, which still boast the safe, robust and sturdy nature of their brand trademark. They are now widely renowned as a European luxury car brand.
Volvo’s investment in design and technology over previous years seems to be paying off in the Australian market. Their Australian sales in June 2018 were up 14.4 per cent compared to the previous June, and globally their sales have been steadily climbing, too.
Volvo is also dedicated to making their business more sustainable and to tackling climate change, by ambitiously claiming that they are going to make all of their cars either completely electric or hybrid by 2019.
How can I get a Volvo car loan?
Volvo car loans can come in a number of different forms. You can get Volvo car finance direct from your Volvo dealership, for example. This, however, may only be available for new car loans. If you are looking at buying a used Volvo, you may have to look elsewhere to procure car finance.
It is always worth shopping around prior to settling on a Volvo car loan option. Options include:
- Go direct to a lender
- Speak to a broker – brokers are car finance professionals that can organise loans for you from any of the lenders on their panel
- Use a comparison website – comparison websites allow you to see what’s on the market at the moment, and help you make the most informed decisions for your circumstances
Remember that loan rejections might negatively affect your credit score. Always make sure that you meet the application criteria before submitting a loan application.
How much does a Volvo car loan cost?
Here are the approximate running costs for three different Volvo models, based on RACQ category averages:
|Model||Category||Cents/km||Average $ per week|
|Volvo V40 Inscription||Small prestige||80.32||$231.69|
|Volvo XC60 D4 Momentum||Medium SUV prestige||96.27||$277.71|
|Volvo S90||Medium sedan prestige||99.2||$286.06|
Here’s how much a five-year loan will cost for three different Volvo models if you borrow 100 per cent of the purchase price over five years:
|Model||Price/loan||Total repayments at 6%||Total repayments at 8%||Total repayments at 10%|
|Volvo V40 Inscription||$46,878||
|Volvo XC60 D4 Momentum||$56,888||$65,988||$69,209||