Volvo XC70 Launches Zero-Down Lease-to-Own Plan, Cutting First-Year Ownership Costs by ¥106,000

Volvo Cars has launched a "Rent-to-Own" leasing program for its XC70 model, offering a zero-down-payment, zero vehicle purchase tax option with monthly rentals starting from RMB 2,999. The program covers four trim levels, and the monthly payment includes rent, insurance, license plate registration fees, and purchase tax—no additional charges apply. Take the XC70 99th Anniversary Core Edition as an example: its official exclusive price is RMB 249,900. Customers in non-license-restricted cities can lease it from RMB 2,999 per month. In Beijing, Shanghai, and Shenzhen, where license plate restrictions apply, the monthly rental increases by RMB 500. No extra fees are charged in Hangzhou or Guangzhou. Under the traditional purchase model, customers would need to pay an initial down payment of approximately RMB 50,000 in the first year, followed by 36 monthly installments of RMB 6,053, plus around RMB 11,000 in purchase tax, RMB 7,888 in insurance, RMB 500 for license plate registration, and bear a first-year depreciation loss of roughly RMB 75,000 (calculated at 30% of the vehicle’s price). This brings the total first-year cost to approximately RMB 142,000. In contrast, with the Rent-to-Own plan, customers only pay 12 months of rent totaling RMB 36,000 in the first year—no down payment or depreciation loss—and save over RMB 106,000. At the end of the lease term, customers may choose to return the vehicle, exchange it for another model, or purchase it outright. If opting to buy, they must pay a final balloon payment of RMB 214,000. Combined with the 12 months of prior rental payments, the total expenditure amounts to RMB 249,900—saving over RMB 37,000 compared to the total cost of direct purchase (RMB 287,300). Customers who choose to buy out the vehicle also receive benefits typically reserved for new car buyers, including trade-in or upgrade subsidies, lifetime warranty on the battery, motor, and electronics (the “three electric” components), and lifetime free data connectivity. Additionally, they enjoy six premium after-sales commitments: complimentary vehicle pick-up and delivery, premium loaner cars, and lifetime parts warranty. They also receive an “Ultimate Peace-of-Mind Package” valued at over RMB 50,000, which includes a 2-year extended vehicle warranty, lifetime maintenance service, a 3,000 kWh charging card, and a RMB 5,000 renewal insurance fund. The program includes four variants: - 99th Anniversary Core Edition (from RMB 2,999/month) - 99th Anniversary Plus Edition (from RMB 4,199/month) - AWD Ultra Long Range Core Edition (from RMB 4,699/month) - AWD Ultra Long Range Plus Edition (from RMB 5,499/month)