HIRE PURCHASE PLAN Hire Purchase (HP) allows you to spread the cost of your new or used Land Rover with fixed monthly payments. At the end of the agreement, you own your vehicle.
WHY IS THIS PLAN FOR ME?
- I want to own my Land Rover at the end of my finance agreement.
- I want to know exactly how much I have to pay each month.
- I have a deposit to put down and want to choose how much I have to pay.
HOW IT WORKS
1. Choose any new or used Land Rover up to 10 years old (maximum 14 years old at the end of your agreement).
2. You agree an initial deposit with your Land Rover retailer. A part-exchange may be used to support this deposit – please ask your retailer for more information.
3. You then choose your agreement term (between 1-5 years).
4. The retailer will then submit the application to Land Rover Financial Services. If your application is approved you can drive away in your Land Rover.
5. Once your deposit is paid, Land Rover Financial Services buys the remainder of the vehicle on your behalf. You then pay back this amount, plus interest, over the agreed term.
6. You pay equal monthly payments with a fixed interest rate.
7. You own your vehicle after the final monthly payment is made.
WHY SHOULD I CHOOSE HIRE PURCHASE?
- HP allows you to spread the cost of buying your dream Land Rover with fixed monthly payments. You set your payments to suit your budget.
- You can borrow between £1,500 and £250,000 for new or used vehicles.
- There are no mileage restrictions as with other finance options.
WHAT HAPPENS AT THE END OF MY AGREEMENT?
After all the payments have been made, the title of the vehicle will be transferred to your name. Until the final payment is made, the vehicle is owned by Land Rover Financial Services.
WHAT IF I WANT TO RETURN MY VEHICLE EARLY?
It is possible to return the vehicle early if:
- You’ve already paid off at least half of your finance agreement, including interest.
- You make up the difference between what you’ve already paid and half of your finance agreement.
- The vehicle meets quality and usage requirements.
If you have already paid more than half of your finance agreement, you won’t receive a refund of the difference.
WHAT ELSE DO I NEED TO KNOW?
- You must have fully comprehensive insurance.
- Credit is subject to status and is only available to UK residents aged 18 and over.
- Your vehicle is at risk of repossession if you do not maintain contractual repayments.
- If Hire Purchase is used to finance vehicles from 7-10 years old, the agreed amount must be repaid over 1-4 years. Repayment terms of 1-5 years are available for vehicles up to 6 years old.
EXPLORE MORE FINANCE PACKAGES
Credit products are provided by Black Horse Limited trading as Land Rover Financial Services, St William House, Tresillian Terrace, Cardiff CF10 5BH.
*If the used Land Rover you wish to purchase is 7-10 years old, your term of Hire Purchase agreement can only be 1-4 years.
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