WHAT IS EQUITY PARITY?
Equity Parity: get a new Land Rover for no extra cost
If you are on a Land Rover Freedom (PCP) finance plan, you could be offered a new vehicle – and have to pay less money each month for it. Find out how with our guide to Equity Parity.
What is Equity Parity and how can I take advantage?
Equity Parity is reached when:
Current Value of Vehicle is = or > Amount Still To Be Paid Off
- Equity Parity occurs when the amount your Land Rover is worth at that time is the same or higher than the amount of finance you still have to pay off.
- For roughly a month after Equity Parity is reached, Land Rover Freedom (PCP) finance plan customers are able to take advantage of a great deal.
- During this window, customers have the option to swap an existing model for a brand new Land Rover.
- It costs nothing to switch, and you could end up paying less every month for the new car.
Why would I be interested?
You love driving the latest Land Rover models.
You want to drive a new car every couple of years.
Your family size has increased and you need a bigger car.
You want to upgrade your model for a small monthly payment increase (or none at all).
You want to make the most of Land Rover’s residual values.
Is it too good to be true?
No, it’s genuinely as good a deal as it sounds.
You might not ever have heard of Equity Parity before – but each week Land Rover Freedom customers are taking advantage of our offer upon reaching it, and upgrading to a new model.
What happens when I reach Equity Parity?
We want to give you the right information at the right time, to make your choice as smooth and simple as possible.
You will be first be contacted via email to let you know that you are approaching Equity Parity on your vehicle payments.
In case you miss the email, or want to know more, your retailer will call you during your Equity Parity window. The retailer will have expertise in Equity Parity. They will be able to explain the new model and re-financing options available to you in detail, and answer any further questions you have.
What will my options be?
- Get a brand new version of the exact same Land Rover model that you are currently driving.
- Get a brand new, higher specification version of the model you are currently driving.
- Upgrade to a brand new car in a different model to the one you are currently driving.
The above options will require a change to your finance agreement, and can be discussed in detail with your retailer.
Alternatively, you can choose to continue with your current vehicle and your existing payment plan
How can I find out more?
To find out more about your options ahead of reaching Equity Parity, you can find and contact your local retailer
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