Volvo Financial Services (VFS) announced it is offering customers in the U.S. an enhanced finance program on the purchase or lease of a model year 2020 or 2019 Volvo VNL, VNR, VNX or VHD model during this time of financial uncertainty as a result of COVID-19. Mack Financial Services made a similar announcement earlier this week as a result of the coronavirus.
“We understand how important it is — especially during this unprecedented situation with the coronavirus — for trucking companies to maintain strong cash flow,” says Stephen Yonce, VFS vice president. “To do our part, Volvo Financial Services continues to seek out ways to help our customers through these difficult times.”
The “Hammer Down 2.0” Program extends the first payment for 60 days for qualified buyers of Volvo VNL, VNR and VNX models and for 90 days for qualified buyers of VHD models in dealer stock inventory. In addition, the program offers low to no down payments for qualified applicants.
For model year 2019 trucks, customers can receive up to $5,000 payment credit on initial monthly installment or lease payments, and up to $3,000 payment credit on initial monthly installment or lease payments for model year 2020 models, VFS says.
Daycab models also will receive an engine plan and purchased Engine Aftertreatment (EATS) coverage for three years or 300,000 miles. VNL, VNR and VNX sleeper models will receive an engine plan and purchased EATS coverage for four years or 500,000 miles.
“Trucking companies and professional drivers are more important than ever,” says Peter Voorhoeve, president, Volvo Trucks North America. “Volvo Trucks North America is committed to doing its part to alleviate some of the stress created by COVID-19, and we will continue to offer programs to help our customers and keep trucks and the economy moving.”