Volvo Car Payment Relief

Lenders and Auto Loan Relief Programs

The financial impact of the COVID-19 pandemic is intense and far-reaching. You may be dealing with the economic effects of unexpected time off of work, a layoff, or many other situations. Making your Volvo auto loan or lease payment this month and perhaps in the months to follow can be difficult with your given circumstances. Like many other auto lenders, Volvo Car Financial Services may offer a debt relief solution that could reduce your stress level and help you to manage your finances better at this time.

Volvo Car Financial Services

Auto lenders today are generally offering different types of relief to their customers, and these options include the waiver of late payment fees, deferrals, and more. Volvo Car Financial Services has not announced a predetermined loan relief solution. Instead, you are encouraged to manage your account online and to contact Volvo Car Financial Services through its customer service department to request relief. Requests will be reviewed and approved on a case-by-case basis.

End of Lease Options

At the end of a Volvo lease, you may make arrangements for a lease buyout so that you can take full ownership of your car or SUV. You may also return your vehicle to the dealership with the option to trade up to a new Volvo. However, you may not be ready to step out of your lease at this time. You can contact Volvo Car Financial Services directly to request an alternative arrangement.

Loan Deferment FAQs

What is a Volvo Loan Deferment?

A Volvo loan or lease deferment is one form of relief that you can request. If Volvo grants your request, you may miss all payments that would have been required during the period specified by Volvo Car Financial Services. Because of this arrangement, interest will continue to be charged, but late payment fees will not be applied. The deferment period’s length will lengthen the loan or lease term for your Volvo, and you must make up the skipped payment during that extension.

Will a Volvo Loan Deferment Damage My Credit Rating?

If you skip a Volvo payment without making a formal arrangement with the lender in advance, your account activity could be reported as an adverse event to the credit bureaus. Your request must be approved before you can miss payments without penalty.

How Do I Request a Volvo Loan Deferment?

If you believe that a Volvo payment deferment or another form of relief may be helpful at that time, you should contact Volvo Car Financial Services so that the lender can consider your request on a case-by-case basis.