Volvo Lease Pull Ahead

Volvo Car Financial Services (VCFS) is pleased to announce the launch of our first Lease Pull Ahead Program. This program invites lease customers that have nine monthly payments remaining on their lease to return their vehicle prior to the maturity date when they lease a new Volvo through VCFS. Eligible customers qualify to receive a waiver of up to nine (9) monthly lease payments on the existing lease as well as a waiver on the lease disposition fee.

Below are a few reasons you may want to take advantage of the program:
• You're ready to get into a new vehicle.
• You would like a lower monthly payment.
• You exceeded or close to exceeding your annual mileage plan.
• You're interested in driving a different model in the Volvo line-up.
• You had a lifestyle change and you're vehicle needs are now different.

Offer Details
• All VCFS lease accounts are eligible except single payment lease.
• 2017 Model Year vehicles are excluded.
• The program applies to the entire Volvo Model lineup except the all-new XC40.
• Offer is valid through January 2, 2019.
• The program is offered to customers with nine (9) or fewer months remaining on their current lease.
• VCFS will waive up to nine (9) remaining monthly payments and the $350 vehicle turn-in fee when customer simultaneously finances or leases a new vehicle through VCFS.

Terms, Conditions, and Restrictions
• Care by Volvo subscription transactions are excluded from VCFS Pull Ahead Program.
• A VCFS Lease Pull Ahead 'simultaneous' lease or finance transaction is defined as a lease termination within the Volvo360 portal and the subsequent contracting a new VCFS Lease or Retail Installment Contract within five (5) days of each other. Any VCFS Lease Pull Ahead
transactions outside of the five (5) day grace period will be subject to a chargeback. VCFS will not be responsible for any fees assessed to the customer due to a retailer transacting outside of the five (5) day grace period.
• Customer's account must be up to date to qualify. Any past due payments would disqualify a customer from program benefits.
• Payments already made on a lease account cannot be reimbursed. For example, if a customer has 9 months remaining on their lease but has seven (7) remaining monthly lease payments, their maximum benefit under this program is seven (7) payments.
• When a customer turns in their vehicle they are still responsible for excess wear and use, excess mileage, and any other obligations, e.g., personal property tax, if applicable.
• The Volvo 360 portal determines eligibility for the VCFS Lease Pull Ahead Program based solely on the scheduled maturity date. Final account eligibility will be validated by VCFS and the maximum payment waiver is nine (9) remaining lease payments. Please note, the Volvo
360 portal provides estimated remaining payments not the actual remaining payments due. Therefore, it is important to communicate the maximum benefit of nine (9) remaining payments on a customer's current lease under the VCFS Lease Pull Ahead Program. When communicating the maximum benefit, it is the retailer's responsibility to confirm with each Q4 VCFS Lease Pull Ahead Program customer all eligibility requirements are met such as VCFS account status, remaining payments, etc.



Frequently Asked Questions

How are the payments waived from my account?
Upon completion of the lease turn-in, VCFS will close the customer's account using the Lease Pull Ahead Program. Both the remaining lease payments (1, 2, or 3 payments remaining) and the turn-in fee will be removed from the customer's account prior to VCFS mailing the End of Lease invoice to the customer.

Will I receive any End of Lease charges from VCFS after the retailer completed the VCFS Pull Ahead Program lease turn-in?
Yes. A customer will be invoiced for excess mileage, excess wear and use (EWU), and remaining taxes in states where personal property tax is applicable.

Is a retailer required to purchase the turned-in vehicle in the VCFS Lease Pull Ahead Program?
No. The vehicle will be offered in the V360 program as usual under Iteration 1 - 3. Retailer purchase of a vehicle is not linked to the VCFS Lease Pull Ahead Program
.
I have equity in my current leased vehicle. How does the VCFS Lease Pull Ahead Program apply when taking advantage of the trade equity?
In order to roll over positive trade equity into the customer's new lease, the retailer would complete a Lease Payoff (Iteration 0) as usual, which will eliminate all further customer obligations on the traded lease, including remaining payments. The VCFS Lease Pull Ahead Program would not be applicable on a Lease Payoff as there would be no remaining payments to waive.

I have 6 months left to my scheduled maturity. Can the retailer use VCFS Lease Pull Ahead Program to take me out of my lease early?
No. This program is exclusive for customers with 3 or less remaining payments. A customer with 6 remaining payments would appear as a "No" in the Payoff Quote Tool and thus, would be ineligible for the VCFS Lease Pull Ahead Program.

Do I need to lease a new Volvo before I turn-in my lease?
Yes. In order to be eligible for the VCFS Pull Ahead Program, the retailer is required to enter the VIN of the new vehicle (replacement VIN) leased through VCFS. The new (replacement) VIN will be validated and must be an active VCFS account prior to waiving
the remaining payments on the returned vehicle. Therefore, it is critical that the retailer enters the new (replacement) VIN accurately to avoid a delay in the closing of the your prior lease account.

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