Land Rover Advance Payment Plan - Available at Grange Land Rover

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 the finance 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

1. Choose a new Land Rover.

2. Pay an initial upfront amount based on the vehicle's Guaranteed Minimum Future Value (GMFV), then choose your term over 1 to 3 years.

3. We calculate the predicted value of your vehicle at the end of your agreement based on your agreed annual mileage and the con tract term. This value is deferred to the end of the agreement and makes up the optional final payment.

4. There are no regular monthly repayments – just a single initial payment and a deferred Final Payment based on the vehicle's GMFV.

5. At the end of the agreement, you pay the remaining balance (plus the agreement interest if applicable).

6. Alternatively you can choose to return the car, or start a new finance deal.

 

What is 'Guaranteed Minimum Future Value' (GMFV)?

GMFV is the expected value of the vehicle you are purchasing at the end of the finance agreement.

It is based on car model, loan term and expected annual mileage.

It is set by Land Rover Financial Services.

Payment of the GMFV value is deferred to the end of your agreement.

A higher GFMV will mean a smaller initial payment, but a bigger payment at the end of the agreement if you wish to own the car outright.

A lower GFMV will mean a bigger initial payment, but a lower payment at the end of the agreement if you wish to own the car outright.

If you choose to return the vehicle at the end of the agreement, you will have nothing further to pay if the car meets the mileage and condition requirements.

Once set, GMFV cannot be changed, and therefore it protects against unexpected falls in used vehicle values.

 

How are the payments calculated?

Upfront Payment = Total Price of Vehicle – GMFV Interest Applicable

Final Payment = GMFV a nominal Option To Purchase Fee

 

What happens and the end of my APP agreement?

You have three options:

1. Renew – choose a new Land Rover from your Retailer and start a new finance agreement. If your existing car's actual value is more Range Rover RR Sport RR Evoque than final deferred payment, you can 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.

2. Return – hand back your vehicle to Land Rover Financial Services. If the vehicle is in good condition and has not exceeded the allowed mileage, you will have nothing further to pay.

3. Retain - pay the GMFV as your deferred final payment and the title of the vehicle will be transferred into your name.

 

 

Terms and Conditions

APP is only available for new vehicles.

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.

Minimum contract term of 13 months, maximum contract term of 37 months.

You must have fully comprehensive insurance.

Finance available subject to status and only available to applicants aged 18 and over resident in Mainland UK and Northern Ireland.

This plan is available to business customers.

 


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Grange.co.uk is a part of Cambria Automobiles plc, Swindon Motor Park, Dorcan Way, Swindon, SN3 3RA registered in England and Wales company registration number 05754547 VAT no GB 218 1290 83. Cambria Automobiles (South East) Limited is authorised and regulated by the Financial Conduct Authority (FCA) - FRN 308872. See company details.

We are a credit broker and not a lender. We can introduce you to a limited number of lenders who may be able to finance your purchase. We can only introduce you to these lenders and may receive commission or other benefits for doing so.

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