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FINANCE EXPLAINED

LAND ROVER FREEDOM (PCP)

Slide into the driver’s seat and enjoy the pleasure of outstanding performance. Land Rover Freedom is a Personal Contract Purchase (PCP) agreement with fixed monthly repayments and a choice of options at the end of the agreement.

How it works:

Choose your Land Rover, agree your annual mileage and agreement term (generally 24 months). Your retailer will then calculate the Guaranteed Minimum Future Value (GMFV) of the vehicle at the end of the agreement, which becomes your optional final payment.

The GMFV and any deposit are deducted from the price of the vehicle and your monthly payments are based on the remaining balance plus interest.

At the end of the agreement, choose from one of the following options:

- Renew – Purchase a new vehicle and use any excess value over the GMFV towards the new deposit.
- Retain – Pay the GMFV and keep the vehicle or re-finance the GMFV on a new agreement.
- Return the vehicle to your retailer. Providing the vehicle is within the condition specified in the agreement terms and conditions and has not exceeded the allowed mileage you will have nothing further to pay.


What is the GMFV:

- The Guaranteed Minimum Future Value is set based on the predicted value at the end of the agreement, taking into account its age and estimated mileage.


Benefits:

- Fixed regular payments for easy budgeting
- Your repayments are reduced because the GMFV is delayed to the end of the agreement
- The GMFV protects you against any potential fall in used car values. The value of the vehicle at the end of the contract is guaranteed to at least equal that of the optional final payment.
- With shorter terms you can be driving a new Land Rover more often, meaning your servicing and maintenance costs may be reduced
- Flexibility on the deposit, annual mileage and agreement term to suit your needs; and at the end of your agreement you choose which of the three options is right for you

*Financial Services products are country specific and subject to offer availability and local terms and conditions. To find out which products are available to you please contact your local retailer