Private Individual Finance Options
Personal Contract Purchase
This is the most popular way to pay for a car and is ideal for customers who wish to change their car at intervals between 24 and 48 months, taking away the worry of depreciation.
How does it work?
Choose the car (new or used) you like
Choose the most suitable repayment period
Agree on your annual mileage
You are given a Guaranteed Minimum Future Value which becomes your optional final payment
You decide on the deposit and payments suitable for your budget
At the end there are three choices for you; part exchange your vehicle for another car, keep the car and pay the final payment or hand it back and have nothing further to pay.
What are the benefits?
Fixed monthly payments mean you always know what you will be paying, so there are no nasty surprises
A Guaranteed Minimum Future Value, so you know from day one the minimum you will receive as a part exchange in the future
Lower monthly payments than traditional forms of funding because the final payment at the end reduces your monthly commitment
Changing your car regularly saves money on repairs and maintenance
Hire Purchase
The most straight forward method of purchase. Ideal for a customer who desires outright ownership of their car and probably changes their car at intervals of greater than 48 months.
How does it work?
Choose the car (new or used) you like
Choose the most suitable repayment period between 12 and 60 months
You agree on a deposit and monthly repayment to suit your budget
At the end of the agreement, as long as all the payments have been made, the car is yours
What are the benefits?
At the end of the agreement you own your car with nothing further to pay
Fixed monthly payments help with your budgeting
Personal Contract Hire
This option allows you to run a car without the worry of ownership or depreciation and giving you the option of having a maintenance package, so you have no unexpected bills.
What are the benefits?
Fixed monthly payments with an option of having your servicing and maintenance costs fixed for the term
No concerns over depreciation of the future value of your car
No hassle trying to sell your car at the end of the contract
Advance Payment Plan
With the Advance Payment Plan (APP), you make one upfront payment and defer the remaining vehicle cost until the end of the agreement.
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:
1. Renew – part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
2. Retain – to keep your Land Rover, you only need pay the optional final payment.
3. 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 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.