Santander Consumer Finance (SCF) is accelerating expansion of its personal contract hire business through agreements with Mazda and Volvo.

There are to be no initial payments required on the deals which run for 18 months. Monthly payments on Mazdas start from £229 a month and from £249 a month on Volvos.

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Road tax is included as part of the contract, although customers will be responsible for maintenance and servicing in line with manufacturer requirements.  Customers phone SCF direct and then collect their cars at a local participating dealership.

The launch enables Mazda and Volvo to sell directly to Santander 123 World customers and marks an expansion of SCF’s contract hire business, which began in 2016.

Stewart Grant, commercial director at Santander Consumer Finance, said: “This new approach is a unique benefit for our existing and future brand partners and enables customers to access a new vehicle at preferential rates and without hassle or a major investment.

“We are grateful for the enthusiasm and commitment of Santander UK and our brand partners Mazda and Volvo and are confident this offer will be very popular with 1I2I3 World customers.”

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Vehicles to be offered on the plan include the Mazda MX-5 Convertible from £269 a month, the Volvo V90 from £359 a month, Mazda CX-5 £339 from month; Volvo XC60 from £379 a month, and the Volvo XC90 from £659 a month.

Santander customers qualify as part of 123 World by holding a 123 current account or credit card and the offer is also available to Santander Select and Santander Private customers.

In May Santander Consumer Finance (SCF) became the UK financial partner for McLaren Financial Services, following the end of the carmaker’s previous white label agreement.