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Volvo Car Financial Services (VCFS) and Bank of America (NYSE: BAC) today announced the extension of their long-standing relationship to provide auto loan and lease origination, financing, and servicing for Volvo Cars customers and Volvo Cars’ 280 U.S. retailers.* The collaboration, which began in 2012, will now continue through 2030.
“Bank of America (BoA) has been a trusted partner for over a decade, assisting Volvo Cars customers in financing and enjoying their vehicles,” said Robert Manna, President of Volvo Car Financial Services. “By extending this relationship through 2030, we are reaffirming our commitment to providing competitive financing options and a high-quality experience for both customers and retailers.”
VCFS is one of the only U.S. luxury automotive captive finance organizations with third-party bank-sourced funding. It claims to provide competitive loan and lease products for new, used, and certified pre-owned Volvo Cars vehicles. Most other large auto companies prefer to own their finance company.**
“Through our strategic alliance, Volvo Cars customers benefit from Bank of America’s proprietary underwriting capabilities and top-notch servicing platform. By combining VCFS’s customized programs with Bank of America’s technology and service strength, the relationship offers competitive rates, flexible options, and ongoing support, from application to the duration of the loan or lease,” VCFS said in a release.
“We are thrilled to extend our strategic partnership with Volvo Cars,” said Roger Boschulte, Head of Vehicle and Home Lending Products at Bank of America. “This extension reinforces our shared focus on delivering a smooth and flexible financing experience designed to make vehicle ownership easy and accessible.”
*AutoInformed on
**Volvo Car Financial Services U.S., LLC is a wholly owned subsidiary of Volvo Car Corporation of Gothenburg, Sweden (VOLCAR-B.STO). It provides financial services and products to Volvo Car customers and Volvo Car retailers in the United States. Volvo Cars itself is a subsidiary of Geely Holding, which owns ~ 78.7% of the company’s outstanding shares. Geely Holding, a Chinese multinational enterprise, bought Volvo from Ford Motor in 2010 after years of cultural clashes between American Ford and Swedish Volvo employees and senior managers.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn.
He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe.
Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap.
AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks.
Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.
Volvo Car Financial Services Extends BoA Deal
Click for more.
Volvo Car Financial Services (VCFS) and Bank of America (NYSE: BAC) today announced the extension of their long-standing relationship to provide auto loan and lease origination, financing, and servicing for Volvo Cars customers and Volvo Cars’ 280 U.S. retailers.* The collaboration, which began in 2012, will now continue through 2030.
“Bank of America (BoA) has been a trusted partner for over a decade, assisting Volvo Cars customers in financing and enjoying their vehicles,” said Robert Manna, President of Volvo Car Financial Services. “By extending this relationship through 2030, we are reaffirming our commitment to providing competitive financing options and a high-quality experience for both customers and retailers.”
VCFS is one of the only U.S. luxury automotive captive finance organizations with third-party bank-sourced funding. It claims to provide competitive loan and lease products for new, used, and certified pre-owned Volvo Cars vehicles. Most other large auto companies prefer to own their finance company.**
“Through our strategic alliance, Volvo Cars customers benefit from Bank of America’s proprietary underwriting capabilities and top-notch servicing platform. By combining VCFS’s customized programs with Bank of America’s technology and service strength, the relationship offers competitive rates, flexible options, and ongoing support, from application to the duration of the loan or lease,” VCFS said in a release.
“We are thrilled to extend our strategic partnership with Volvo Cars,” said Roger Boschulte, Head of Vehicle and Home Lending Products at Bank of America. “This extension reinforces our shared focus on delivering a smooth and flexible financing experience designed to make vehicle ownership easy and accessible.”
*AutoInformed on
**Volvo Car Financial Services U.S., LLC is a wholly owned subsidiary of Volvo Car Corporation of Gothenburg, Sweden (VOLCAR-B.STO). It provides financial services and products to Volvo Car customers and Volvo Car retailers in the United States. Volvo Cars itself is a subsidiary of Geely Holding, which owns ~ 78.7% of the company’s outstanding shares. Geely Holding, a Chinese multinational enterprise, bought Volvo from Ford Motor in 2010 after years of cultural clashes between American Ford and Swedish Volvo employees and senior managers.
About Ken Zino
Ken Zino, editor and publisher of AutoInformed, is a versatile auto industry participant with global experience spanning decades in print and broadcast journalism, as well as social media. He has automobile testing, marketing, public relations and communications experience. He is past president of The International Motor Press Assn, the Detroit Press Club, founding member and first President of the Automotive Press Assn. He is a member of APA, IMPA and the Midwest Automotive Press Assn. He also brings an historical perspective while citing their contemporary relevance of the work of legendary auto writers such as Ken Purdy, Jim Dunne or Jerry Flint, or writers such as Red Smith, Mark Twain, Thomas Jefferson – all to bring perspective to a chaotic automotive universe. Above all, decades after he first drove a car, Zino still revels in the sound of the exhaust as the throttle is blipped during a downshift and the driver’s rush that occurs when the entry, apex and exit points of a turn are smoothly and swiftly crossed. It’s the beginning of a perfect lap. AutoInformed has an editorial philosophy that loves transportation machines of all kinds while promoting critical thinking about the future use of cars and trucks. Zino builds AutoInformed from his background in automotive journalism starting at Hearst Publishing in New York City on Motor and MotorTech Magazines and car testing where he reviewed hundreds of vehicles in his decade-long stint as the Detroit Bureau Chief of Road & Track magazine. Zino has also worked in Europe, and Asia – now the largest automotive market in the world with China at its center.