Why do accountants seem to favour Volvo's?

Volvo has been a favourite among accountants for some time - and it's easy to see why with outstanding reliability, unrivalled safety and through some strategic offers more value than ever before!

Safety, quality and peace of mind

Volvo has built a enviable reputation for safety and durability - typified by them inventing the three point safety belt in 1959 and then making the patent design freely available to all other manufacturers. For accountants who manage risk, cost and efficiency it's a great fit as Volvo delivers unrivalled safety ratings, strong build quality and reliability 

Strong residual values and total cost of ownership 

Volvo's have always been sought after as used vehicles and as they bring new drivetrains and technologies to their range of vehicles the desirability is as strong as ever - boosting residual value and reducing contract hire rate and total cost of ownership. A Volvo therefore makes good sense whether you're buying outright, taking out a PCP or contract hire either personally or through your business. 

With electrification across the model range and with such low Benefit in Kind rates for electric Volvo's it makes more sense than ever for businesses to opt for contract hire company car drivers and for employees to take advantage of the great rates on the Volvo C40, EC40, EX30, EX40,ES90 and EX90 as well as long range plug-in versions of the Volvo XC60 and XC90 on salary sacrifice - offering savings of up to 40% 

Affinity and Member programmes

Volvo had a long running Affinity programme for professional membership group which helped to build a loyal following among lawyers, surveyors, architects, farmers and accountants - this offers favoured personal purchases and finance offers but were withdrawn from the market at the end of 2022 with the introduction of electric vehicles and the global supply issues caused by the shortage of semi-conductors to automotive manufacturers. 

Whilst the offers may have been removed accountants and other professional retain an interest and loyalty towards the Volvo brand and along with wider section of the market have turned to leasing to obtain favourable deals across the Volvo range . 

Is ICAEW Benefits Plus the only way to get Volvo offers? 

The latest and re-named ICAEW Benefits Plus offers programme has just been re-launched and for the first time in three years Volvo have supported such offers for personal and contract hire through the ICAEW vehicle offer provider Tyson Cooper.  Depending on how competitive these terms are and how many funders the provider has access to will determine how good the Volvo lease deals ultimately are. 

It's always worth comparing the scheme rates with a contract hire broker like NEV Leasing who have access to a wider panel of funders and also periodical special offers undertaken by one of the funders on their panel. 

Links to any current offers appear below: 

Interested in the Volvo XC60 T6 or T8?

Interested in the Volvo XC90 B5P or T8?

It's also worth noting that the current ICAEW vehicle scheme doesn't appear to offer an electric car salary sacrifice scheme or option for members - for employed accountants looking to source an electric vehicle personally salary sacrifice is by far the most cost effective and efficient method of doing so . 

What other brands find favour with accountants? 

For similar reasons to why Volvo is popular other brands offering reliability, strong residual values and lower cost of ownership include Audi, BMW, Skoda and Volkswagen benefitting from regular strongly incentivised offers outside the Benefits Plus vehicle scheme. It will be interesting to see how some of the new incoming brands like BYD, Omoda and X-Peng fare with the no-nonsense cost-effective proposition. 

What's the bottom line? 

Volvo combines safety, reliability, strong future value and lower cost of ownership - making them easier to own and operate and more predictable for accounting and finance professionals. 

Your local dealer or the ICAEW vehicle scheme have some advantages and is a good place to start - the latter especially if cash purchase is your preferred option. 

But with most PCP's resulting in either handing the car back or "trading it in" it's worth looking outside of these routes for the most compelling and money saving options - especiallly if employed and considering an electric vehicle where salary sacrifice is potentially even more compelling. 

NEV Leasing have extensive experience dealing with accountants and finance professional and on hand to sense check any dealer derived or Benefits Plus quotation received -  testing them with their terms and across their panel of funders to help you get the very best deal in the market to meet your personal requirements. 

Their salary sacrifice portal is now live enabling accountants access to a live quoting system that includes full maintenance and full comprehensive insurance - click here to register for access and start your own comparisons. 

For more information on how Volvo or any other manufacturer could work even better for you contact NEV Leasing on 01206 585837 ... email getintouch@nevleasing or simply click here to arrange a call back