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Trucking in Canada has become a thriving industry to look towards. When investing in one’s first truck, a preferred brand amongst the many is Volvo. As the world’s second largest manufacturer of heavy-duty trucks, they are a workhorse in this industry. To afford one, normally requires some financial assistance due to how expensive they can get. So here at Smarter Loans, we work with some of the finest Volvo truck loan providers in Canada that provide efficient application processes for their applicants.
We understand how many steps are involved during an application process of this magnitude which is why we pride ourselves in our ability to speed up for the process for you. We have made it extremely simple to apply. With a computer and some Internet access, you can secure the funds for your new Volvo truck. To start off, we suggest thoroughly looking through the information below and comparing our provider’s interest rates, offerings and terms before moving forward with a particular provider. We want our applicants to feel confident in whom they are working with and to do so, we encourage them to be educated on their decision every step of the way. To see some of the providers we work with, just glance at the list below. When you are ready to start applying, hit the “Apply Now” button besides their name.
If you can’t seem to pick a provider, you could always pre-apply at Smarter Loans. A staff member of ours will step in and find you the most reliable Volvo truck loan provider in Canada that is tailored to your needs.
We can help connect you with the top Volvo truck and trailer financing providers in Canada.
Volvo Trucks is the world’s second largest heavy-duty truck company, and constitutes 10% of the truck market in the U.S. Available in over 75 countries, this is an internationally renowned brand based out of Sweden – but it’s manufacturing process is so large, they have production facilities in 16 different countries. This scale is needed, as Volvo makes and sells nearly 200,000 trucks every year.
Volvo currently manufactures trucks in five different ‘series’ for the North American market: long-haul, heavy-haul, vocational, regional and auto-haul. Other parts of the globe have different models available. Let’s look at the Canadian offerings:
Volvo’s long-haul trucks are designed for driver comfort and improved efficiency, to make those long drives more comfortable and cost effective.
| Model No. | Engine Choice | Cab Type | Useful For |
|---|---|---|---|
| VNL 300 | Volvo D13TC Volvo D13 Volvo D11 Cummins X15 | Daycab | Short-haul |
| VNL 400 | 42in Sleeper | Long-haul, flatbed, tanker, bulk | |
| VNL 740 | 70in Sleeper | Long-haul | |
| VNL 760 | 70in Sleeper | Long-haul, van trailer | |
| VNL 860 | 77in Sleeper | Premium long-haul, van trailer |
These models are recommended for:
The heavy-haul range prioritizes power and durability, and is designed to be usable for even the most challenging tasks.
| Model No. | Engine Choice | Cab Type | Useful For |
|---|---|---|---|
| VNX 300 | Volvo D13 Cummins X15 | Daycab | Short-haul, low-bed, oil fields, gravel train length-sensitive |
| VNX 400 | 42in Sleeper | Regional heavy-haul LCV doubles, triples HOS compliant | |
| VNX 740 | 70in Sleeper | Short and long-haul, specialized carriers |
These models are recommended in particular for:
The vocational family of Volvo trucks focuses on specialization, and combines ruggedness with versatility so you can get the job done.
| Model No. | Engine Choice | Cab Type | Useful For |
|---|---|---|---|
| VHD 300 AB | Volvo D11 Volvo D13 | Daycab | Long-haul, short-haul |
| VHD 300 AF | Daycab | Long-haul, short-haul | |
| VHD 400 AB | 42in Sleeper | Short-haul, regional-haul | |
| VHD 400 AF | 42in Sleeper | Short-haul, regional-haul |
These models are recommended for specialized tasks, including:
The regional-haul range of trucks is a compromise between long-haul comfort and short-haul productivity.
| Model No. | Engine Choice | Cab Type | Useful For |
|---|---|---|---|
| VNR 300 | Volvo D11 Volvo D13 | Daycab | Regional-haul, short-haul |
| VNR 400 | 42in Sleeper | ||
| VNR 640 | 61in Sleeper |
These trucks are best used in the following scenarios:
Lastly, Volvo offers a range of trucks designed for the sole purpose of auto-hauling.
| Model No. | Engine Choice | Cab Type | Capacity |
|---|---|---|---|
| VAH 300 | Volvo D11 Volvo D13 | Daycab | 11 vehicles |
| VAH 400 | 42in Sleeper | ||
| VAH 600 | 61in Sleeper |
As Volvo’s truck range differs from country to country, it does not have any single truck model that can be considered its “best-selling” across the board. In Canada, the VNL range of long-haul trucks are the most popular, thanks in part to Canada’s booming long-haul transportation industry. The VNL 300 is probably the most commonly found on the roads, as its price and size make it the most versatile of the long-haul range. With aerodynamic design to increase fuel efficiency and advanced lighting for improved driver visibility, this is a great all-rounder.
Also popular is the VNR range for short-haul and regional-haul use. Volvo is widely respected for its enhanced safety measures, so the VNR and VNL trucks are particularly competitive in the on-highway market where safety is of paramount importance.
Volvo has over 1800 dealers worldwide, so finding somewhere to purchase a Volvo truck is not difficult. If you’re searching for a new Volvo, an official dealership is the obvious place to start. These dealers carry the full line of Volvo trucks available in Canada, as well as parts, customizations and specialized service plans. You can find your nearest Volvo dealer here.
Other dealerships may also stock Volvo trucks, especially in the pre-owned category. It is worth checking the truck dealers near you to see what they have in stock. You can also search using online marketplaces, which have recently become much more popular for truck sales. These sites allow you to investigate different model types, in both the new and used markets, to find the best deal for you.
When purchasing a new truck, financing is one of the most important factors to take into account. Few people (or businesses) can afford to buy a new truck outright! It’s important to understand your financial situation and possible loan options, before you shop, as these factors may be the determining factor in what you can realistically purchase. Dealerships may offer to connect you with loan providers, but you can also look online to find a lender with competitive rates. Eligibility requirements vary by lender, so check you qualify before beginning any application paperwork. You can save time by applying for pre-approval online, before you even go to a dealer.
The depth of Volvo’s history means that there are plenty of used trucks available to buy in Canada, but before you leap on an attractive deal, remember that used vehicles require more ongoing maintenance than new ones. This can mean higher-than-expected operational costs that impact your profitability. You will also miss out on the opportunity to customize your vehicle, or choose important factors such as the engine. However, the rise in online marketplaces for truck buyers does mean that you have the ability to search both new and used options, and if you are looking for a common model, you may be able to save money by opting for a pre-owned vehicle.
Lastly, you should consider exactly what you need your new truck for. Volvo’s different ranges have quite different capabilities, so don’t assume they are all interchangeable. A great deal on the used market may tempt you towards a particular vehicle, but make sure that you are clear about the tasks you need completed, and narrow your search down to just those models that serve your purpose.
It’s hard to talk about Volvo trucks without mentioning their impressive focus on safety and reliability. Volvo has spent almost a century understanding and developing state-of-the-art safety measures and designing their trucks – from the largest components down to the smallest – to be dependable over the long term. Some of the features that you can expect from a Volvo truck include:
The cost of a Volvo truck depends on a few factors, such as type, model number, upgrades, engine, and so on. A new VNL starts from around $160,000, but this can escalate quickly if you opt for higher end models or extra features. Used Volvo trucks are commonplace, and deals can be had for as low as $15,000 for old models. The average price for a five year old long-haul truck is $50,000.
There are a few different options for obtaining financing for a Volvo truck; one is through the dealership you’re purchasing from. Dealers usually work with local banks or credit unions to help you find financing. These lenders may not always have the most competitive rates though. Luckily, you can also search online for financing, and this often provides access to the most competitive loan terms.
What engines do Volvo trucks use?
Volvos offer a few different engines, mostly from their own range: the D11, D13, and D13TC. They also offer the Cummins X15 in some of their North American vehicles.
The primary place to get your Volvo serviced is at your local authorized Volvo dealership. They will have Volvo experts on hand, as well as the full range of possible parts. They also offer Volvo Service Planning, which means tailored service schedules that correlate with your vehicle’s typical use. Other dealers and part suppliers may also offer service options, but you might need to do some research beforehand to check they are experienced with Volvos and have ready access to the appropriate parts.
Volvo trucks are popular across the world largely because of their focus on safety. Few brands have managed to corner the market in this area quite like Volvo, and this makes them very popular both with large businesses who need to ensure their fleet remains on the road, and with owner-operators who are worried about reliability.
The operational costs for a Volvo truck are much in line with the rest of the market. The range is between $150,000 and $190,000 annually. The expenses are as follows, shown as a share of per mile operating costs:
Vehicle-based expenses:
Driver-based expenses:
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