Volvo V60 Recharge hybrid review: costs, insurance, warranty & tax
Company-car drivers will be quids-in with a Volvo V60 Recharge plug-in hybrid, but it won't be all that cheap to insure
| Insurance group | Warranty | Service interval | Annual company-car tax cost (20%/40%) |
|---|---|---|---|
| 40-41 | 3yrs / 60,000 miles | 1yr / 18,000 miles |
From £814 / £1,628 |
Low CO2 emissions of 18-25g/km and an electric range of over 40 miles are key to the V60 hybrid's status as an enticingly affordable company car. It's in a much lower BiK (Benefit-on-Kind) band than its purely petrol or diesel-engined siblings (cutting tax bills by two thirds compared to the petrol V60), sitting in the low 8% bracket. So, if it's on your company-car list, it's an obvious choice. Daily running costs can also be very low if you make the most of the car's electric range, but on the other hand you will pay servicing and insurance rates commensurate with Volvo's premium-brand status.
Volvo V60 Recharge hybrid insurance group
The V60 Recharge T6 occupies groups 40-41, while the now-discontinued V60 Recharge T8 Polestar Engineered is slightly higher at group 43. Neither V60 will be especially cheap to insure compared to rivals – a BMW 330e is in group 33, for example. That said, for a car with as much as 449bhp, insuring the Volvo could be far worse.
Warranty
Volvo's standard warranty covers the car for three years or 60,000 miles – on par with premium rivals, but mainstream manufacturers such as Toyota, Hyundai and Kia do better, with longer durations and more generous mileage caps.
Servicing
Volvo recommends the V60 Recharge be maintained once a year, or every 18,000 miles – whichever comes up sooner. The cost of servicing is set by individual Volvo dealers, so it may pay to shop around if there's more than one in easy reach.
It’s also worth noting that electric cars, such as Volvo’s own XC40 Recharge, typically require more infrequent servicing – in that car’s case, once every two years or 18,000 miles. This is just one of the many ways you can save money through EV ownership.
Road tax
As a hybrid vehicle, the V60 Recharge gets a slight discount on the basic VED rate (payable from the second year onwards). However, all versions of the plug-in Volvo estate cost over £40,000, meaning you’ll also be paying the substantial ‘premium car surcharge’ of £390 per year until the car is five years old.
As mentioned above, choosing a full EV means you’ll escape having to pay VED – and the premium surcharge – until 2025. Given the Volvo will still cost well over £500 to tax every year even with its hybrid discount, there are potentially big savings to be had if you’re willing to forego a petrol engine altogether.