Volvo CE bundles charging, repairs, and more into one lease for electric compact equipment
Volvo Construction Equipment has launched a new financing option for the company's electric compact equipment.
The leasing package bundles charging, maintenance, repairs, and more. Combined, the package costs less than purchasing the items separately.
Volvo CE's new electric compact equipment financing option
Available in the U.S. and Canada through Volvo Financial Services (VFS), the process to set up a lease for electric machines is the same as with other Volvo CE machines. Contractors will work with their local Volvo CE dealer and VFS to set the length of the contract, determine how many hours each machine could operate, and negotiate monthly payments.
Then, within the package, contractors and users also get:
- An equipment maintenance plan to help ensure the electric machines stay up and running as they should. Lessees will have the option to bring machines to their Volvo dealer location for maintenance or have a dealer come to them.
- Extended coverage for repairs beyond the factory warranty period. This helps limit some risk by covering machines for a longer time.
- Physical damage insurance (currently only available in the U.S.) in the event of a covered accident that causes damage to the machine.
- The option to finance a charger alongside the lease with a single monthly payment. The charger is purchased, not leased, but it's financed within the same terms and rates as the complete package. As an example, if you sign up for a 48-month lease, you have the option to pay for your charger in 48 monthly payments as well.
- Save money on the bundle of electric compact machines. This could be up to 15 percent less on the monthly payment than acquiring items separately, depending on the dealership.
Another benefit is that the leasing packages come with a simplified early termination option at 24 months.
Getting started with Volvo CE's financing options
To explore financing options, contractors can visit the Volvo electric machine site, select the model they're interested in, and use the "build and quote" tool to configure the model to their needs. If they select the financing application in the tool, a dealer will follow up with them. Users can also reach out to their local Volvo dealer for a quote.