Honda and Volvo offer to cover finance payments for anyone made redundant
2 April 2009

Honda and Volvo are offering payment protection to any finance buyers who are made redundant.

The Honda scheme is available to buyers of selected Civics and CR-Vs.

Under the terms of the deal Honda will cover the monthly car repayments for up to a year if customers are made redundant for more than three months.

Volvo's scheme is available for buyers of all Volvo C30, S40 and V50 models.

It means anyone buying through Volvo Car Finance will have payments covered for up to 12 months if they are made unemployed during their first 18 months of owning the vehicle.

Hyundai North America has been running a similar scheme in the USA since January, seeing a significant rise in sales as a result.

Honda is also offering a zero per cent APR hire purchase offer, low deposit and 4.9 per cent APR PCP deals, and price reductions on selected models in order to stimulate sales.

These include a Civic 1.8 SE with leather for £14,495, a saving of £1520 on the list price, or a Civic Type R GT for just £199 per month at zero per cent APR.

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9 May 2016
A lot of good car finance companies will actually ask you to look at guaranteed asset protection and loan protection insurances if you take up a car finance plan with them. Not all people will buy into it of course, but it's really worth looking at in case something (like redundancy) happens.

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