Financing With Final Installment – Installment Loans


Next by Gavo is the maxi final installment loan provided by Gavo Car Finance, the brand part of the Ford Motor Company that manages the financial services of the Swedish company. Next can be requested for all cars in the Gavo range, from the XC60, XC70 and XC90 crossovers to the V50 and V70 wagons, from the S, S40, S60 and S80 sedans to the C30 and C70 coupes.

Next by Gavo features

Next by Volvo features

This is a financial solution with a series of low-value installments and a maximum final installment. The advance required when purchasing the car is 15% of the final price.

It is a consolidated formula that minimizes the initial impact, offering low value installments for the first 24 or 36 months, and gives the customer, at the time the maxi installment expires, the possibility of acting according to three logics:

  • buy a new car, returning the previous one and activating another Next by Gavo loan on the new one
  • weld the maxi installment and keep the car
  • return the car without any obligation to the dealer

The interest rates are:

  • maximum tan, 14%
  • maximum taeg, 25.23%

The preliminary investigation costs amount to 300 USD.
Other costs include:

  • installment fees, 4 USD
  • periodic communications to the customer, 2 USD
  • contract closing costs, 40 USD
  • commission for early repayment, 1% of the residual capital
  • reminder fees for unpaid installments, 15% of the outstanding amount
  • Default rate, 12%

For the purpose of calculating the value of the vehicle at the time of the expiry of the maxi installment, 0.1 USD per kilometer must be added in excess of the amount established at the time the contract was stipulated. 

Who can request Next by Gavo

Who can request Next by Volvo

Funding can be requested for the purchase of a new or zero-kilometer vehicle at a Gavo dealership. The amount is paid directly to the concessionaire.

The loan applicant must be of age and present personal and income documents, be they a copy of the pay slip, pension slip or the latest Unico form for the self-employed.

Gavo Car Finance reserves the right to request further real and personal guarantees based on the amount requested and the consistency of the customer’s income.

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