There’s no configurator to go through, nor blocks in the road where you are asked to input your details or find out you can only get a certain version or a certain option by calling a dealer. Cars are either displayed as ‘in stock’, with a maximum of one- month wait for delivery, or offered as built-to-order models taking four to five months. You’ll be offered a temporary car while you wait.
The pricing and all information is displayed up front as and when you select the various options. The XC60 starts at £799 a month, and our plug- in hybrid T8 version in Inscription Pro trim came in at £899 (since we ordered, prices for our version have dropped to £819 after Volvo announced a facelifted XC60). The least expensive option on Care by Volvo is a Volvo XC40, which can be ordered from £559, while the most expensive is £1079 for a plug-in hybrid S90.
That £899 for our XC60 includes the standard 6000 annual miles (calculated pro rata if you hand it back early), and we selected an extra 2000 miles per year at £15 per month. So £914 all-in as one monthly payment, and 30 days of free insurance are offered.
Next, enter your details to submit for a credit check and select whether you’d like the car to be delivered or if you’d prefer to collect it. Then you pay for your first month’s subscription and sit tight, waiting for the Care by Volvo team to get in touch to check you’re happy with everything, answer any questions, discuss next steps and advise you how long the car will take to be delivered. My call from the very helpful Daniel came on the Monday morning after I’d ordered the car on Friday evening.
As a headline figure, that £914 does sound expensive, particularly compared with the monthly payment of a PCP deal. But remember, there’s no deposit. This XC60 in this trim can be found for about £55,000 on a PCP, so with a 10% deposit, an assumed residual value of 50% after three years and a 4.9% interest rate, a monthly PCP payment comes to around £770 over three years. Spread that £5500 deposit over those 36 months and you get a figure of just over £920 a month.
So the PCP deal actually costs slightly more, has a longer, binding term to it and doesn’t include servicing or wear and tear. Of course, stay under your allotted mileage and it’s likely you’ll have equity in the car at the end, but when it comes to the monthly bill, there’s nothing really in it, other than the greater freedom offered by the subscription service.