With the Advance Payment Plan (APP), you make one upfront payment and defer the remaining vehicle cost until the end of the agreement.
WHY IS THIS PLAN FOR ME?
- I would like to pay for my new Land Rover outright, but not all at once.
- I want several options at the end of my plan.
- I want to protect against an unexpected fall in used vehicle values.
- I want to be able to afford a newer or higher spec model – APP gives you more spending power.
HOW IT WORKS
Based on your chosen term (between 13 and up to** 37 months) and mileage* Land Rover Financial Services will determine the Guaranteed Minimum Future Value (GMFV) of your vehicle at the end of your agreement. The GMFV is deducted from the price of your vehicle and you simply pay the remaining balance plus the agreement interest (if applicable) as a single upfront payment - there are no monthly payments. At the end of the agreement, just choose from one of the following options:
- Renew – part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
- Retain – to keep your Land Rover, you only need pay the optional final payment.
- Return – return the vehicle and do not pay the Optional Final Payment. If the vehicle has exceeded the maximum agreed mileage a charge for excess mileage will apply. Providing the vehicle is in good condition (fair wear and tear accepted) and has not exceeded the maximum agreed mileage you will have nothing further to pay.
WHAT HAPPENS AT THE END OF MY AGREEMENT?
You have three options:
- Renew – choose a new Land Rover from your Retailer and start a new finance agreement. If your existing car’s actual value is more than optional final payment, you can use the excess value towards your deposit on a new agreement. With this option you can either part-exchange your Land Rover or sell it privately. Subject to settlement of your existing agreement. New agreements are subject to status.
- Return – hand back your vehicle to Land Rover Financial Services without making your optional final payment. If the vehicle is in good condition (fair wear and tear accepted) and has not exceeded the maximum agreed mileage, you will have nothing to pay. If the vehicle has exceed the maximum agreed mileage a charge per excess mile will apply.
- Retain - pay your deferred optional final payment and the title of the vehicle will be transferred into your name.
WHAT ELSE DO I NEED TO KNOW?
- APP is only available for vehicles up to 3 months old.
- Minimum annual mileage 6,000 miles, maximum annual mileage 35,000 miles, maximum contract mileage 108,000 miles.
- If you wish to return your vehicle at the end of your agreement, an excess charge will apply if it has exceeded the allowed mileage, or is not in good condition (fair wear and tear accepted).
- Minimum contract term of 13 months, maximum contract term of 37 months.
- You must have fully comprehensive insurance.
- Credit is subject to status and is only available to UK residents aged 18 and over.
- This plan is available to business customers.
* Maximum annual mileage is 35,000 and the maximum mileage at the end of the contract is 108,000 (37 month term).
** Some APP Finance Offers have a maximum term of 24 months