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Care by Volvo Subscription Service

BKWest
New Member

Care by Volvo Subscription Service

Hi everyone,

 

This is my first post, but I have been a member for almost a year.  Thanks for all of the good advice.  Since I joined, I've added three credit cards to my portfolio:  Capital One QuickSilver ($3,000 - CLI to $6,000; 6 mos), AMEX Preferred Everyday ($5,000 - CLI to $15,000; 60+ days) , and AAdvantage Aviator Red ($10,000).

 

Now my family needs a new car (we only have one, and will replace that), and we are thinking about Care by Volvo.  I realize that this product is relatively new, but I am hoping that you can help me with a few questions:

 

1.  Do you know which bureau Care by Volvo will pull for this inquiry and what score do you need; and

2.  I am looking to refinance my mortgage.  How will this affect my debt-to-income ratio, or any other mortgage qualification

 

Thanks from a very grateful member.

Message 1 of 8
7 REPLIES 7
ZZWW2017
Regular Contributor

Re: Care by Volvo Subscription Service

Welcome to the forums.

Smiley Happy

 

1. I have seen two postings (not on these forums) of Volvo financing pulling Experian.

Have you tried asking Care By Volvo which bureau they pull?

 

2.  I have no idea.

Message 2 of 8
BKWest
New Member

Re: Care by Volvo Subscription Service

Thanks for your response.  It seems weird to just ask, but I'll try.  I'll also see if they can tell me how the subscription service affects my debt-to-income ratio.  I'll update this post with any information that I get.

 

Thanks!

Message 3 of 8
RadioRob
Established Contributor

Re: Care by Volvo Subscription Service

The question you need to ask Volvo is if this subscription reports to the credit bureaus. I did a quick check, and I could not find this anywhere.

Since it is a subscription (24 month term), if it reports... lenders would include it in your DTI calculation.
Message 4 of 8
BKWest
New Member

Re: Care by Volvo Subscription Service

Thanks.  I spoke to a couple of people and they did not seem to know much.  I did get a few things out of them though:

 

1. They pull Experian, not sure which one.  And I didn't ask if they report to the credit bureaus;

2.  The subscription is treated as a regular lease.  I'll look on past forums to see how that will affect my refinance; and

3.  And for some reason, Care by Volvo is not available in NY.  No explanation for that one

 

If I find out any more info, I'll post it here.  Thanks for your help.

Message 5 of 8
jcoop269
Member

Re: Care by Volvo Subscription Service

Hey! Any update on what you found out here?


@BKWest wrote:

Thanks.  I spoke to a couple of people and they did not seem to know much.  I did get a few things out of them though:

 

1. They pull Experian, not sure which one.  And I didn't ask if they report to the credit bureaus;

2.  The subscription is treated as a regular lease.  I'll look on past forums to see how that will affect my refinance; and

3.  And for some reason, Care by Volvo is not available in NY.  No explanation for that one

 

If I find out any more info, I'll post it here.  Thanks for your help.


 

Message 6 of 8
kaylord84
Frequent Contributor

Re: Care by Volvo Subscription Service

They Pulled Transunion for me back in December 2020 . I was approved but didn't go through with it. I reside in illinois 


@jcoop269 wrote:

Hey! Any update on what you found out here?


@BKWest wrote:

Thanks.  I spoke to a couple of people and they did not seem to know much.  I did get a few things out of them though:

 

1. They pull Experian, not sure which one.  And I didn't ask if they report to the credit bureaus;

2.  The subscription is treated as a regular lease.  I'll look on past forums to see how that will affect my refinance; and

3.  And for some reason, Care by Volvo is not available in NY.  No explanation for that one

 

If I find out any more info, I'll post it here.  Thanks for your help.


 


 


Starting Score: Eq 485 TU 467 Ex 400 BK filed Dec 2016
Current Score: Eq 723 TU 665 Ex 682
Goal Score: 700 All 3


Take the myFICO Fitness Challenge
Message 7 of 8
4sallypat
Frequent Contributor

Re: Care by Volvo Subscription Service

This Volvo leasing system is nice - it's all packaged in one price ( lease, tax, insurance).

It is reported to all 3 CRA as a lease so it will impact your DTI on home re-fi.

 

I looked at it but the Liberty insurance quote for the leased car was way too expensive and I can not use my own - big turn off....

 

I am planning on doing the OSD (overseas delivery) and getting a free vacation flight for 2 round trip to Gothenburg, Sweden and pick up my new Volvo there.

 

Once I finish with my vacation touring the Scandanavian countries, I will drop off Bremerhaven, Germany for the long ocean voyage home.

 

My Volvo dealer will let me know when it arrives and I get to have a "second" delivery experience in the US.

Message 8 of 8
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