Volvo Buses & VFS (Volvo Financial Services) join forces

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Volvo Buses & VFS (Volvo Financial Services) join forces – launches a new line of flexible financing solutions for operators.

In the current market situation, the transport and travel industry are working hard to regain momentum. In order to support the customers’ business, Volvo Buses together with Volvo Financial Services (VFS) now offer new financial options to help lower the barrier for restarting bus and coach operations. Although not available in all markets, more details will emerge in the coming weeks.

The new financial offering, “Flexilease”, includes a variety of lease and rental solutions, combining lower initial investment, shorter commitment periods, attractive buy-out options and possibilities to change over time.

“The Covid-19 situation has struck hard on the bus and coach business, and from Volvo Buses and VFS side we are eager to do everything we can to stand by our customers so they will be able to recover their business as soon as possible, says Niklas Orre, Vice President, Coach Sales at Volvo Buses.

A new possibility is the short-term rental. To rent a new, or used, bus or coach for as little as three months could be the way to seize a limited but important business opportunity. If things go well, the rental can be extended to up to a year, still with a buy-out option.

“The new financial offer is about reducing risk but also about swift and immediate response to upcoming business opportunities. Across Europe, there are several new and used vehicles available. In fact, our customers could have a luxury coach, ready to run, within days,” explains Niklas Orre.

Another new offer is the season-sensitive lease. In the tour and charter business, most operators experience significant variations in volume between the seasons. With a flexible payment schedule, adapted to the passenger volume, the operator’s cashflow can be improved.

Other flexible options are lease offers with a pay-per-kilometre charge, which ensures flexibility in costs when demand is uncertain, and the cash flow-friendly delayed payment solution, where amortizations start after three months, where Volvo covers the three months interest.

“In these uncertain times we must find new ways to support our customers. I am convinced that smarter financing can be of help. From our perspective we see this as developing and increasing our business offer, adding more alternatives to choose from,” concludes Niklas Orre.

 

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