Volvo's new S60 executive saloon is now available to finance for £299 a month, the Swedish manufacturer has announced.
According to the company, the mid-range T5 R-Design Edition has been awarded the joint-best residual values in its class, with industry data experts Cap HPI estimate the four-door car will retain 46 percent of its original value over the first three years and 30,000 miles of its life. That's a figure only the BMW 330i M Sport model can match.
In comparison, a Mercedes-Benz C300 AMG Line is expected to retain around 40 percent of its original list price over the same period, while an Audi A4 40 TFSI Black Edition will hold about 42 percent of its value.
And Volvo says it's a similar story for those doing more miles. A three-year-old S60 with 60,000 miles on the clock would be expected to be worth around 39 percent of its original list price, while the equivalent C-Class and A4 would be worth around 34 percent and 35 percent respectively. Only the 330i would be expected to match the Volvo at that age, again equalling the Swede’s 39 percent residual value.
As a result, Volvo says it is able to offer customers personal contract hire (PCH) and personal contract purchase (PCP) deals starting from £299 a month. Both deals are based on 10,000-mile-a-year terms, but the PCP offering is a 48-month contract and a £7,650 deposit, while the PCH deal is based on an 18-month contract with a £4,522 initial payment. Buying the car outright, meanwhile, would set you back around £37,900.
Jonny Miller, Volvo’s national leasing and residual value manager for the UK market, said the Cap HPI predictions were driving forces in calculating lease rates.
“In the leasing sector, whether for private or business drivers, residual values have a significant impact on lowering monthly costs,” he said. “We’re delighted that the dynamic new S60 has been forecast to hold its value so well.
“The S60’s striking Scandinavian design, advanced connectivity technology and unmatched safety features make it a desirable car, and such strong residual values mean it is now an even more attractive and affordable choice.”
Matt Galvin, Volvo’s sales director for the UK, added: “The new S60 completes the refresh of the entire Volvo product portfolio, giving us one of the youngest model ranges in the industry. We’re confident that this stunning new saloon will also enable Volvo to maintain its title as the UK’s fastest-growing premium car brand.”