Volvo has come up with a finance offer that it claims will give its customers “peace of mind in troubled economic times”.
The Ford-owned company says it believes that fear of redundancy is one of the biggest barriers to buying a new car.
To try to overcome that, Volvo Car UK is providing free-of-charge unemployment protection on its finance deals.
Available on new C30, S40 and V50 models, customers financing their purchase through Volvo Car Finance benefit from the payment protection insurance (PPI), which also provides life, accident and sickness cover.
Volvo says it believes this free insurance will be the answer for customers who meet its terms and conditions, who need a new car but who have been put off making a major purchase because they are anxious about their jobs.
The policy covers all monthly payments due on the finance agreement for up to 12 months should the customer become unemployed during the first 18 months of owning the vehicle. It will also cover customer’s premiums in the event of any accident and sickness during the first 18 months of the contract with benefits payable until the end of the finance term.
To qualify for the deal, which runs out on June 30, customers have to fill in a self-declaration form to identify whether they are eligible for each element of the package.
The offer is available to any eligible customer when they buy a car through a participating dealership financed by Volvo Car Finance at a typical APR of 5.9 per cent.
Volvo Car UK managing director Peter Rask said: “We appreciate that this is a difficult time for many people up and down the country.
“However, we also believe that there are many customers who still want to buy a car safe in the knowledge that should the worst happen and they are made redundant, they can still keep their car and continue to transport their family safely. The new free-of-charge PPI delivers the ultimate peace-of-mind to prospective Volvo buyers.”
* For more information visit www.volvocars.co.uk