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Looking for a new truck or a fleet of trucks to ship cargo and expand your business? If so, Volvo might be the perfect brand for you. Composed of top tier Swedish engineering, Volvo trucks are now available in over 75 countries and have tons of different models and classes to choose from, whether you’re looking for safety, fuel efficiency, power, or comfort.

Not sure if a Volvo is the right truck brand for you or your enterprise? Don’t worry, because Loans Canada has all the advice you need.

Why Choose Volvo Trucks?

There are many reasons to buy a reliable truck, especially when you’re looking to save on fuel costs, travel long distances, and keep yourself or your drivers safe. While there are plenty of brands available in Canada, Volvo trucks are top-rated among many drivers due to four basic but important principles:

Fuel Efficiency

Volvos are some of the most fuel-efficient and aerodynamic trucks on the road, each featuring the award-winning eXceptional Efficiency (XE) package that contains an automated i-Shift manual transmission. Their powertrains are crafted based on EPA regulations and come complete with intelligent cruise control, as well as a variety of Eco-Torque engine types to maximize your truck’s performance while reducing emissions and fuel costs.

Driver Productivity

Every Volvo chassis now has a 5-inch LCD display and steering wheel-mounted controls that allow the driver to access various operating parameters, trip information, performance data, and truck diagnostics. That way, you’ll have an easier time navigating the roads and can detect any mechanical or electrical problems that arise. Every VNR model also comes with an optional infotainment system with a 7-inch touch-screen and a premium audio system.


Your truck’s Volvo Enhanced Stability Technology (VEST) will automatically decrease torque and apply selective breaking when it detects the possibility of jackknifing, rolling over, or losing control. Volvo is also the only Class 8 manufacturer to install a driver’s side airbag in every truck and a side airbag for extra head and neck protection. The Active Driver Assist will also send out audible and visual signals if stationary objects are detected in front of you.


Remote Programming allows you to connect with the Volvo Uptime & Action Service Centers, which offer 24/7 real-time upgrades, diagnostics checks, and roadside assistance anywhere in Canada or the United States. The ASIST web portal can help you communicate with the Volvo dealer network, so you can arrange electronic estimates, repair appointments, and towing. You can also speak with your fleet manager to stay focused and productive while on the road.

Truck Loan Lenders In Canada

AmountInterestTerm (months)
SharpShooter Funding$1,000 - $300,000Fee-Based: Starting at 9%12 - 60 More Info
OnDeck$5,000 - $300,0008% - 29%6 - 18More Info
Money Line Capital$5,000+4.9% - 24.99%18 - 48More Info
iCapital$5,000 - $250,000-3 - 18More Info
Thinking CapitalUp to $300,0008% - 22%6 - 12 More Info
Merchant Growth$5,000 - $500,000-6 - 18More Info
CanaCapUp to $250,000--More Info
Company Capital$5,000 - $100,000+6.87%3 - 18More Info

Types Of Volvo Trucks

Depending on your preferences and what kind of business you’re running, you may want to test several truck models and classes before making your decision. Here are the 5 truck series that Volvo offers:

VNR Series

Ideal for regional and bulk hauling, the VNR series features 4 different models, any of which can be used for flatbeds, tankers, vehicle transport, or food and beverage services. Choose a lightweight model like the VNR 300 for day trips or a heavier class, such as the 400, 640, or 660 for overnight stays. Being smaller than some of Volvo’s larger models, any of the VNR series trucks would be perfect for shorter distances and urban distribution.

VNL Series

Efficient for long-hauling, there are 5 models (300, 400, 740, 760, 860) in the VNL series, most of which contain a sleeper cab with a reclining bunk and telescopic ladder (with the exception of the VNL 300). With better aerodynamics, turbo compounding, and a variety of engine types, you can save up to 7.5% on fuel. If you purchase a VNL, you may also qualify for the Premium Package promotion, which provides a free Premium Maintenance Plan. 

VNX Series 

If short and long-distance heavy hauling is your moto, the VNX Series might be your best choice, where durability and engine power are at the top of the list. If you’re towing lumber, gravel, or other oversized cargo, you may want to consider the VNX 300, 400, or 740, which can carry 125,000-160,000 lbs and up to 225,000 lbs with certain components applied. With up to 605 hp and 2,050 lb-ft. of torque, tough inclines and rough roads won’t be a problem.

VHD Series

If you’re looking for something with vocational hauling power and tight maneuverability, like a dump-truck, concrete mixer, or severe duty truck, check out the VHD Series, such as the 300 or 400. With your choice of axle back (AB) or axle forward (AF) configuration, you can outfit your cargo bed or front end with a variety of machinery, such as a crane, roll-off container, or plow, all while in compliance with any bridge laws or off-highway terrain you come across.

VAH Series

Made for auto-hauling over short distances, the VAH 300, 400, and 600 can each carry up to 11 consumer-grade vehicles, and come with a variety of roof heights (94.5, 97.5, 102.5 inches). Great for steering around dealer lots and urban environments, each VAH has an ample mix of agility, comfort, amenities, and carrying capacity. The standard Volvo Active Driver Assist feature allows for better collision avoidance to keep drivers and their payloads safe.

Should you finance or lease your next truck? Find out here.

Volvo Features By Series

Check out all the different models, special features, and cab types that Volvo Trucks have to offer:

VNR Series

  • VNR 300 (day cab)
  • VNR 400 (42 in. sleeper)
  • VNR 640 (61 in. sleeper)
  • VNR 660 (61 in. sleeper)

All VNR series Volvo trucks have adaptive loading, I-See predictive cruise control, and Active Driver Assist (collision avoidance).

VNL Series

  • VNL 300 (day cab)
  • VNL 400 (42 in. sleeper)
  • VNL 740 (70 in. sleeper)
  • VNL 760 (70 in. sleeper)
  • VNL 860 (77 in. sleeper)

All VNL series Volvo trucks have adaptive loading, I-See predictive cruise control, and and I-Shift transmission.

VNX Series

  • VNX 300 (day cab)
  • VNX 400 (42 in. sleeper)
  • VNX 740 (70 in. sleeper)

All VNX series Volvo trucks have wide tires, durable frame-rails, and fifth wheels.

VHD Series

  • VHD 300 AB (day cab)
  • VHD 400 AF (day cab)
  • VHD 400 AB (42 in. sleeper)
  • VHD 400 AF (42 in. sleeper)

All VHD series Volvo trucks have Volvo Dynamic Steering, Volvo I-Shift With Crawler Gears, and Enhanced Volvo Driver Assist. 

VAH Series

  • VAH 300 (day cab)
  • VAH 400 (42 in. sleeper)
  • VAH 600 (41 in. sleeper)

All VAH series Volvo trucks have Volvo Active Driver Assist (VADA), remote start, and new LED lighting.

Factors To Consider When Buying A Truck

If you’re about to buy or finance a truck of any kind, including a Volvo, there are a few important factors to consider, so make sure to do lots of research and compare makes, models, prices, dealerships and private sellers in your area. 

For instance, one of the first things to decide is whether you want a new or used truck, either of which can have benefits and drawbacks. Ask yourself the following questions when you’re considering buying a new or second-hand truck:

Buying A New Truck

  • What do you need the truck for? Hauling heavier cargo could mean you’ll need a larger model with a more reliable powertrain and transmission system. You might also want a severe duty truck to deal with tough terrain. Then again, you may want a smaller truck to maneuver around tight corners and urban spaces. 
  • What kind of gas mileage does it get? While there are many trucks that are now powered by hydrogen cells and electric motors, most still run on plain old diesel fuel, which can be more expensive and require you to find special stations. More powerful engines and transmissions also consume more fuel.   
  • What kind of engine provides the best performance? The heavier your cargo is and the farther you’re driving, the stronger you’ll want your engine to be. More torque means more money, but the extra cost can be worth it. Even when driving locally, don’t rule out the possibility of hitting ice, potholes, or steep inclines. 
  • How cheap/easy is the truck to maintain? Although Volvos have a solid reputation, European parts are harder to repair and buy. Some mechanics don’t even carry them or know how to fix them, which is why the Volvo Dealer Network and Action Service can be extremely helpful to connect with.
  • How much are you looking to spend? Remember, European trucks can be pricier to buy, fuel, and maintain, so be sure you can afford all costs associated with your Volvo before purchasing or financing it. If business isn’t booming or it looks like you won’t be able to make payments, consider a used truck instead.  

Buying A Used Truck

  • What are truck’s engine and maintenance histories like? Despite the lower cost, remember that many trucks have been driven long distances and not all drivers take care of their rigs. Be sure to get an accident report and find out if your truck has had frequent oil and tire changes, major replacements, or repairs.  
  • What mileage is on the odometer? While some trucks are built to last, one with over 2,000,000 kilometres on it (like a car with over 200,000 km) likely doesn’t have much resale value or years left. A breakdown in the middle of nowhere can be a huge, expensive hassle when you’re trying to make a delivery on time.
  • Where will you buy/finance it from? It can be risky to buy a truck from a private seller, especially if you’re an inexperienced trucker. However, second-hand dealers can also sell lemons, so it’s essential to get your truck through a reputable source that offers extended warranties, such as a factory dealer. 
  • What has the truck been used for? Sadly, some trucks aren’t built to last, have hauled heavy cargo, or been driven into the ground. So, it might be smart to buy from a fleet, where trucks are consistently updated, repaired, and documented. Then again, company drivers can be less careful with trucks that aren’t theirs.

Find out how equipment financing can help you finance your truck

How Much Do Volvo Trucks Go For?

When it comes to trucks, prices can vary greatly based on a number of elements, including but not limited to:

  • Make – As mentioned, Volvos can be a bit pricier overall than other truck brands because of their European parts and shipping costs. However, they can also be more fuel-efficient than North American brands, so the costs may balance out.  
  • Model – Generally, heavier semi-trucks with larger interiors, sleeper cabs, and extra features retail for higher. You may also pay more for any modifications, such as different cargo beds, front-end attachments, and other custom pieces.    
  • Year – Obviously, brand new Volvos are more expensive than older models. While they can be cheaper, consider how much maintenance a used truck could require. Older trucks may even burn more fuel than newer, greener models. 
  • Engine – Your engine may fluctuate in cost if it has an integrated powertrain or uses diesel over natural gas. Although a more powerful engine can be pricier and consume more fuel, it may last longer and give the truck better resale value.

Find out if you should get a variable or fixed rate truck loan

General Costs Of Owning A Truck

Now that you know about some of the main factors that can affect a Volvo truck’s price and resale value, let’s discuss some of the general costs of owning, operating, and maintaining a truck throughout the year, such as:

  • Initial Price – Generally, you can expect to about $100,000-$150,000 for a brand new semi-truck with all the features, a sleeper cab, a trailer, as well as the best engine and transmission on the market. While an older or used model will be cheaper at first, remember that you may have maintenance issues sooner. 
  • Lifetime Price – Experienced truckers estimate that they spend around $180,000 yearly to operate their rig. That includes all the standard things like fuelling, insurance, maintenance, repairs, and licensing. If you’re a fleet owner, you’ll also have to factor in your drivers’ annual salaries, food, and other employee costs. 
  • Fuelling – That brings us to one of the largest costs, gasing up your truck. Diesel fuel can be particularly pricey, costing truckers about $70,000 a year. While many trucks are converting to electric motors or running on natural gas, they can still consume a lot of energy, especially over long distances or while idling in traffic. 
  • Maintenance & Repairs – Even new trucks require a lot of mechanical attention. Some owners spend around $15,000 annually just on general repairs, tire, brake, and oil changes, and wiring or electrical issues. In fact, a single truck tire can cost about $250 and the rig can take on about $4,000 in yearly tire servicing. 
  • Licensing, Insurance & Tolls – Owners have to purchase multiple types of licenses and insurance, costing about $6,000-$7,000 yearly. Since trucks are classed as larger vehicles, drivers also have to deal with different permits and toll costs, especially in the United States, adding an extra $3,000-$4,000 per year.

Does Volvo Provide Truck Financing?

As you can see, it’s a huge financial commitment to own and operate a truck, and not every private buyer or fleet manager can afford all these high costs. Don’t worry, because Volvo does have a number of financing plans that you can access directly through their network, a Volvo manufacturer, or a dealership that sells Volvo trucks.

If you can’t qualify for truck financing from a legitimate Volvo source, you can apply for a loan through another financial institution, such as:

  • A Bank or Credit Union – While not all traditional financial institutions offer truck financing specifically, you may be able to secure a large personal loan using some collateral or a cosigner to purchase your truck and repay them over time. Good clients can even earn lower interest rates than some direct Volvo sources.
  • An Alternative Lender – Sadly, it can be tough to qualify with a bank or credit union if you have bad credit or a low income. In that case, many alternative lenders have easier approval restrictions in exchange for smaller loans with higher interest rates. However, good payments can even improve your credit.

Looking To Become A Volvo Truck Owner?

If so, Loans Canada can help you find the best financing sources, dealerships, and prices in your area.

Bryan Daly avatar on Loans Canada
Bryan Daly

Bryan is a graduate of Dawson College and Concordia University. He has been writing for Loans Canada for five years, covering all things related to personal finance, and aims to pursue the craft of professional writing for many years to come. In his spare time, he maintains a passion for editing, writing screenplays, staying fit, and travelling the world in search of the coolest sights our planet has to offer.

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