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 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.”
“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.”
VCFS is one of the only U.S. luxury automotive captive finance organizations with a third-party bank-sourced funding model, offering highly competitive loan and lease products for new, used, and certified pre-owned Volvo Cars vehicles. 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.