Volvo To Launch Captive Finance

The latest Volvo ad campaigns urge consumers to choose their strength wisely. It’s an interesting command, coming from an auto manufacturer that plans to launch a captive finance arm in 2012.

Volvo recently announced its intent to partner with Bank of America, stating that consumer loan and lease products would be available by the end of the year. Volvo Car Financial Services’ loan products will license Bank of America’s proprietary underwriting and risk-based pricing technology to support the credit process.

This development will allow consumers to receive standard market rates and promotional rates supported by Volvo Cars of North America, creating another option in an already competitive auto financing market.

Now, local financial institutions must also heed Volvo’s advice and choose their strength wisely. Focus on personal attention, member advantages, rate discounts and convenient service to remain a top choice for vehicle financing.