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Discussion Starter · #1 ·
Does anyone know if the 1.9%/60month offer in the US is good for OSD orders? My dealer is saying no based on the Volvo website but I think the clause he's looking at relates to the other cash incentives. Does anyone know?
 

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Usually those offers are to move cars off lots.

I tried to get the Safe and Secure promotion that was running at the time of my OSD order and was told OSD is not something the dealer really gets involved in except for actually placing the order.
That's why Bob, a sponsor of this forum, can do an OSD order for you, no dealer required. The terms of OSD are in no way negotiable.

I'm sure Bob will confirm this, but I do hope he says I'm wrong.
 

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Discussion Starter · #4 ·
Thanks for the clarification and help. The fine print is always hard to interpret. Hope I can get a good rate from Volvo regardless!
 

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I got 1.74% loan for my last OSD purchase (Oct 2015) through my credit union (I always handle my own financing). I've done three OSD's - from the loan perspective really not much different than purchasing a vehicle directly from the dealer. Check out your own financial institution(s).

For OSD - the price is the price (I think that's a nice feature of the program, no haggling, no hassle). My 2007 and 2013 OSD vehicles were 7% and 5% cheaper than the best dealer price (and in part due to OSD incentives, like free packages, offered at the time I placed those orders). My 2015 OSD delivery was for the XC90 T8 - no idea if there were any cost savings, I was more interested in getting the XC90 PHEV.

If you have not done an OSD purchase - it is a great experience!
 

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I got 1.74% loan for my last OSD purchase (Oct 2015) through my credit union (I always handle my own financing). I've done three OSD's - from the loan perspective really not much different than purchasing a vehicle directly from the dealer. Check out your own financial institution(s).
A lot of banks/credit unions (my credit union included) will not provide a loan for a vehicle (and title) is in another country. Some are ok with it but smaller local ones, in my experience, don't even comprehend the concept of overseas delivery.
 

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A lot of banks/credit unions (my credit union included) will not provide a loan for a vehicle (and title) is in another country. Some are ok with it but smaller local ones, in my experience, don't even comprehend the concept of overseas delivery.
The vehicle's certificate of origin is made out from Volvo to you (the OSD buyer) and not the dealer. If you let OSD folks know the CO will include your lien holder. The CO is for a vehicle manufactured in either Sweden or Belgium that is for US (or CA) market specs - the very same vehicle that you would buy of a dealer's lot (or custom order from a dealer) - it is not a foreign CO or title. The CO is typically turned into your motor vehicle department in exchange for a title in the state or province you are registering the vehicle. (Consumers typically never see the CO for a new vehicle because the CO is issued by the manufacturer to the dealer.) The CO will be provided to you when you sign for and pickup your vehicle in Europe.

Also - if you provide a lien holder to the OSD folks it will also be noted on the order confirmation. That confirmation also includes reference to the insurance for both driving with the Swedish manufacturer's plates and subsequent transportation back home to your local dealer.

The largest problem may be that many lien holders will want to receive proof of insurance and lien holder on a title shortly after they issue the loan funds. For my credit union this needs to be done 30 days after the loan is consummated. For me a copy of the CO (with them listed as the lien holder), a copy of the order confirmation (that lists them as a lien holder and reference to insurance), and a copy of the insurance coverage was sufficient to hold things until the vehicle can be registered and title applied for.

As an alternative - many financial institutions will offer new car rates for second loans (I think my credit union calls it something like second chance). I'm not sure who Volvo uses for financing - but if my memory is correct there was a US bank that would do OSD order financing - you could always get a loan from them and then once the vehicle arrives at the dealer refinance with your personal institution.
 

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I wasn't an OSD per say, but I bought mine via the military program and it works the same way except picking it up in Sweden, it was car hauled down to me. I second rpmccormick, I work for the credit union here and we get new orders all the time, and you'll receive the MSO that will be traded in for a title in the states. I would double check with your prospective lienholders that they allow shipping of their collateral. My last credit union I worked for would not allow me to ship my vehicle I had financed with them to Europe, so I had to refinance. I currently have my 15.5 S60 financed at 1.75%, so there are good rates out there.
 

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Discussion Starter · #12 ·
The vehicle's certificate of origin is made out from Volvo to you (the OSD buyer) and not the dealer. If you let OSD folks know the CO will include your lien holder. The CO is for a vehicle manufactured in either Sweden or Belgium that is for US (or CA) market specs - the very same vehicle that you would buy of a dealer's lot (or custom order from a dealer) - it is not a foreign CO or title. The CO is typically turned into your motor vehicle department in exchange for a title in the state or province you are registering the vehicle. (Consumers typically never see the CO for a new vehicle because the CO is issued by the manufacturer to the dealer.) The CO will be provided to you when you sign for and pickup your vehicle in Europe.

Also - if you provide a lien holder to the OSD folks it will also be noted on the order confirmation. That confirmation also includes reference to the insurance for both driving with the Swedish manufacturer's plates and subsequent transportation back home to your local dealer.

The largest problem may be that many lien holders will want to receive proof of insurance and lien holder on a title shortly after they issue the loan funds. For my credit union this needs to be done 30 days after the loan is consummated. For me a copy of the CO (with them listed as the lien holder), a copy of the order confirmation (that lists them as a lien holder and reference to insurance), and a copy of the insurance coverage was sufficient to hold things until the vehicle can be registered and title applied for.

As an alternative - many financial institutions will offer new car rates for second loans (I think my credit union calls it something like second chance). I'm not sure who Volvo uses for financing - but if my memory is correct there was a US bank that would do OSD order financing - you could always get a loan from them and then once the vehicle arrives at the dealer refinance with your personal institution.
When you say you worked with the "OSD folks" to get the lien holder information added to the appropriate documents, did you work directly with Volvo OSD employees or through your dealer? My dealer doesn't seem to know much about how I could go about financing the purchase through a non-Volvo Financial Services lender so I think I'm going to have to figure all of this out on my own to get the best rate.

So what is the current rate for OSD financing?
I would love to know what the Volvo OSD rate is as well before I go into my dealer...
 

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When you say you worked with the "OSD folks" to get the lien holder information added to the appropriate documents, did you work directly with Volvo OSD employees or through your dealer?
I don't think there's any way to provide the lien holder info (if you knew it) at the time you place the order with the dealer. I've done this three times - and just asked the OSD contact (either on the 800 number or via email) to add the lien holder info.

Also consider: you need to pay for the vehicle in full either 30 days prior to the scheduled delivery date in Sweden (or elsewhere in Europe) - or - when you have the VIN number. (Normally plan on 30 days - you'll likely have the VIN before that ...)

Many lenders will pre-approve you for a loan - but that approval will only be good for say 30 to 45 days. You don't want to apply too much in advance of when you'll expect to get the VIN - as the VIN will be required on the actual loan application.

When you've decided on a lender you can find out from them how they want to be listed as a lien holder (formal name, address, etc.) - and then just communicate that to the OSD folks. They'll update the order confirmation with that info - and that will also carry through to the vehicle's certificate of origin.

With my first two OSD orders the VCNA Order Confirmation and a copy of the original OSD order (dealer printed out) I believe was sufficient for the loan application. This last order (placed May 2015) the credit union wanted a purchase and sale agreement with the dealer's name on it (which was easy enough for the dealer to provide). I had the check made cross payable to the dealer and myself, signed the check and turned it over to them. They deposit it - and Volvo takes the funds from their account for your OSD vehicle.

Then looking into the future - your vehicle is shipped (built into the OSD cost) to the nearest port and then trucked to your dealer. (Plenty of threads on this and tracking elsewhere on Swedespeed.) You will likely have a better idea when it is getting close to arrival; your car may not even show up in the dealer's system. When it arrives they'll clean it up and re-present it to you. (Just make sure nobody takes your red Swedish manufacturer's plates!)

Hope this helps ...
 

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Discussion Starter · #14 ·
I don't think there's any way to provide the lien holder info (if you knew it) at the time you place the order with the dealer. I've done this three times - and just asked the OSD contact (either on the 800 number or via email) to add the lien holder info.

Also consider: you need to pay for the vehicle in full either 30 days prior to the scheduled delivery date in Sweden (or elsewhere in Europe) - or - when you have the VIN number. (Normally plan on 30 days - you'll likely have the VIN before that ...)

Many lenders will pre-approve you for a loan - but that approval will only be good for say 30 to 45 days. You don't want to apply too much in advance of when you'll expect to get the VIN - as the VIN will be required on the actual loan application.

When you've decided on a lender you can find out from them how they want to be listed as a lien holder (formal name, address, etc.) - and then just communicate that to the OSD folks. They'll update the order confirmation with that info - and that will also carry through to the vehicle's certificate of origin.

With my first two OSD orders the VCNA Order Confirmation and a copy of the original OSD order (dealer printed out) I believe was sufficient for the loan application. This last order (placed May 2015) the credit union wanted a purchase and sale agreement with the dealer's name on it (which was easy enough for the dealer to provide). I had the check made cross payable to the dealer and myself, signed the check and turned it over to them. They deposit it - and Volvo takes the funds from their account for your OSD vehicle.

Then looking into the future - your vehicle is shipped (built into the OSD cost) to the nearest port and then trucked to your dealer. (Plenty of threads on this and tracking elsewhere on Swedespeed.) You will likely have a better idea when it is getting close to arrival; your car may not even show up in the dealer's system. When it arrives they'll clean it up and re-present it to you. (Just make sure nobody takes your red Swedish manufacturer's plates!)

Hope this helps ...
This post and your earlier one contain by far the best info I've received regarding the logistics of using your own financing option for OSD--thanks for the help!! I can actually explain how the lien holder info will be recorded to a bank now :). Now the work begins on finding a good lender.

Based on my initial online research and calling a few credit unions in the area I can't seem to find a better rate than the low 2%'s for 60 months (we have top tier credit, so these quotes are the lowest the banks I've talked to can offer). Did any of the people who mentioned getting a <2% rate go through a credit union or bank that would lend to someone in Tennessee? If you're willing to share please PM the info :)

Bob--are you able to share what the 60 month Volvo Finance rate is right now for OSD? I just wanted to be prepared for finding a lower rate before I just settle on going that route...
 

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I would love to know what the Volvo OSD rate is as well before I go into my dealer...
Add me to the list of people that would LOVE to have the rate information in hand before going to the dealer to "negotiate" a finance rate. Maybe we need to start a new thread with just that question.
I am not sure why that information can not be shared. Even if a PM is used!
 

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Add me to the list of people that would LOVE to have the rate information in hand before going to the dealer to "negotiate" a finance rate. Maybe we need to start a new thread with just that question.
I am not sure why that information can not be shared. Even if a PM is used!
You may want to check out PenFed (Pentagon Federal Credit Union) (www.penfed.org). They say they will do an OSD (I talked to them today) and the rates are very good......

36 months/ 1.49%
48-60 months/ 1.99%

If Volvo cannot match these rates, I will definitely go in this direction. You can become a PenFed member by joining one of their organizations for $14.00.
 

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My credit union is one of the top 10 (started by a previous employer of mine) and I've been a member 30+ years. Great rates and I got an extra 0.25% off the rate for a hybrid vehicle - ask lenders you're investigating if they have any specials like that (for those of you considering the T8).

The credit union I use would probably not be able to offer services to someone living in TN (unless you worked for one of the companies that use them for employee services, in which case you'd probably know about them :) ).
 

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Discussion Starter · #18 ·
You may want to check out PenFed (Pentagon Federal Credit Union) (www.penfed.org). They say they will do an OSD (I talked to them today) and the rates are very good......

36 months/ 1.49%
48-60 months/ 1.99%

If Volvo cannot match these rates, I will definitely go in this direction. You can become a PenFed member by joining one of their organizations for $14.00.
Thanks for sharing! I've reached out to my dealer to get current Volvo rates for OSD and will post when I hear back. PenFed rate looks good to me... A few local credit unions here don't have as good rates but do offer a 90 day first payment deferral which helps with the delay in getting your car with OSD.


Sent from my iPhone using Tapatalk
 

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Thanks for sharing! I've reached out to my dealer to get current Volvo rates for OSD and will post when I hear back. PenFed rate looks good to me... A few local credit unions here don't have as good rates but do offer a 90 day first payment deferral which helps with the delay in getting your car with OSD.

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I will be curious as to what your dealer says they can provide rate wise....thanks for sharing.

Please confirm what I've quoted with a representative from PenFed......I want to verify that what was relayed to me today was correct. I've also heard some lenders will lower the rate slightly if you do an automatic monthly debit from an account like a checking or savings.

You can get the PenFed 800 number from their website......
 

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Thanks for sharing! I've reached out to my dealer to get current Volvo rates for OSD and will post when I hear back. PenFed rate looks good to me... A few local credit unions here don't have as good rates but do offer a 90 day first payment deferral which helps with the delay in getting your car with OSD.


Thanks everyone for sharing the rate information. As I am getting closer to actually financing my OSD It will be great to have some actual rate figures when sitting down with the dealer's finance manager to discuss possible financing. Please keep those rate figures coming :)
 
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