Volvo Contract Hire has moved its Volvo Car Financial Services branded business and personal contract hire products to Santander Consumer Finance (SCF).
The move aims to allow SCF and Volvo to work at a strategic and tactical level across all segments of both the fleet and retail markets.
Stewart Grant, commercial director at SCF, said: “We are delighted to have secured this tender – it’s one that will see our contract hire business stream continue to grow as we move into 2018.
"The winning of this tender vindicates our move into the fleet sector.
"Given Santander Consumer Finance is a relatively new entrant in the contract hire market, we are grateful to Volvo for giving us this opportunity.
"Our outstanding track record in delivering results for Volvo in the retail arena clearly had a big part to play in the decision and we will repay the faith shown by helping to drive their contract hire business forward.”
Selwyn Cooper, head of financial services at Volvo Car UK, said: “Contract hire is a crucial part of our business at Volvo, as we work towards our aim of 60,000 new car sales per year by 2020. We are very pleased to be working with Santander to deliver this service.”