FINANCE PRODUCTS EXPLAINED

Right of withdrawal

You can change your mind and withdraw from the agreement without giving any reason during the first 14 days after you receive the executed copy of your agreement. This will bring the finance agreement to an end, but it does not automatically mean you can pull out of buying the vehicle or any insurance products / extras. If you withdraw, you must pay us the total amount of credit we are lending you for the vehicle and any insurance products / extras and interest on it within 30 days.

Voluntary termination

You have the right to end the agreement early and return the vehicle to us. If you do this, you need to pay us all repayments that have fallen due up to the time of termination. If at the point that you terminate, the amount you have paid for the vehicle (including the deposit) is less than half the total amount payable for the vehicle you will also need to make an additional payment to bring the amount up to this sum. You will also need to pay:

-the outstanding balance less any rebate of charges due for any insurance products / extras and

-any charges that may apply if you have not kept the vehicle in good repair or if you have exceeded the permitted maximum mileage.

For PCP, you will reach the half paid point later in the agreement than you would in an HP agreement over the same term as you are paying less each month due to the deferred optional final repayment.

Satisfactory quality rights

You have rights against the lender if the vehicle is not of a satisfactory quality. If you experience problems with the vehicle, we will work with the Retailer to resolve your concerns.

Early settlement

You can pay off your agreement in full at any time. Just contact us and we will tell you what you need to pay and by when. You may even get a rebate of some of your interest. Where applicable, the interest is calculated up-front and added to the balance at the start of your agreement. Whilst you pay an equal repayment amount each month, the amount of interest that you pay each month reduces over the life of the agreement so this will impact the level of rebate that you receive.

Eligibility criteria

-You must be at least 18 years old and a permanent UK resident.

-You must have fully comprehensive insurance which you’ll need to arrange yourself.

-You must have the relevant driving licence for the vehicle.

Vehicle information

The Retailer should disclose to you information that is material for you to make an informed decision, such as information that might affect the price, condition and/or value of the vehicle. Please ask your Retailer for any specific information that you need about the vehicle to make an informed decision and check the V5C to ensure that you are comfortable with the information recorded.

Retailer commission

Retailers typically receive commission or other benefits for introducing you to us. If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.

How information is recorded

Details of your credit agreement will be recorded with credit reference agencies. Personal Contract Purchase agreements are recorded as unsecured lending products in line with industry practice. The optional final repayment amount will be included in the total outstanding balance recorded with the credit reference agencies. Should you decide to return the vehicle to us at the end of your agreement, the outstanding balance will be adjusted to reflect that the optional final repayment is no longer due.

Relevant financial institutions

Land Rover Financial Services is a trading style of Black Horse Ltd which is part of Lloyds Banking Group’s ring fenced bank. This means we cannot enter into agreements with certain types of financial institutions, for example, banks or businesses that deal in certain investments. If you are a financial institution and you think that you cannot enter into agreements with a retail ringfenced bank, you must tell us so that we can determine your status.

Right to cancel

You may have the right to cancel within 14 days of the date the agreement is signed by you and us. If you do cancel, we will reimburse any payments received from you. For any period that you had use of the vehicle, you’ll need to pay a proportion of the agreed monthly rentals.

Early termination

You can terminate the agreement early providing you pay 50% of the remaining term (subject to account being up to date) plus any other charges, such as pro-rata excess mileage or damages.

Satisfactory quality rights

If the vehicle that you purchase under the agreement is not of satisfactory quality, you have rights against the owner who will work with the Retailer to resolve your concerns

Eligibility criteria

-You must be at least 18 years old and a permanent UK resident.

-You must have the relevant driving licence for the vehicle.

-You must have fully comprehensive insurance which you’ll need to arrange yourself.

-Road Tax is included with your monthly rentals

Maintenance

You must keep your vehicle to the standards of the manufacturer handbook. Optional maintenance packages are available within your agreement at an additional cost. Maintenance packages can only be added at the inception of the contract.

Retailer commission

Retailers typically receive commission or other benefits for introducing you to us. If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.

Relevant financial institutions

Land Rover Contract Hire is a trading style of Lex Autolease Ltd which is part of Lloyds Banking Group’s ring fenced bank. This means we cannot enter into agreements with certain types of financial institutions, for example, banks or businesses that deal in certain investments. If you are a financial institution and you think that you cannot enter into agreements with a retail ring-fenced bank, you must tell us so that we can determine your status.

Right to cancel

You may have the right to cancel within 14 days of the date the agreement is signed by you and us. If you do cancel, we will reimburse any payments received from you. For any period that you had use of the vehicle, you’ll need to pay a proportion of the agreed monthly rentals.

Early termination

You can terminate the agreement early providing you pay 50% of the remaining term (subject to account being up to date) plus any other charges, such as pro-rata excess mileage or damages. VAT registered businesses may be able to reclaim VAT, depending on how the vehicle was used (private/commercial or mixed use) and individual tax status.

Satisfactory quality rights

If the vehicle that you purchase under the agreement is not of satisfactory quality, you have rights against the owner who will work with the Retailer to resolve your concerns.

Eligibility criteria

-You must be at least 18 years old and a permanent UK resident.

-You must have the relevant driving licence for the vehicle.

-You must have fully comprehensive insurance which you’ll need to arrange yourself.

-Road Tax is included with your monthly rentals

Maintenance

You must keep your vehicle to the standards of the manufacturer handbook. Optional maintenance packages are available within your agreement at an additional cost. Maintenance packages can only be added at the inception of the contract.

Retailer commission

Retailers typically receive commission or other benefits for introducing you to us. If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.

Value added tax (vat)

VAT registered business may be able to reclaim VAT, depending on how the vehicle was used (private/commercial or mixed use) and individual tax status.

Relevant financial institutions

Land Rover Contract Hire is a trading style of Lex Autolease Ltd which is part of Lloyds Banking Group’s ring fenced bank. This means we cannot enter into agreements with certain types of financial institutions, for example, banks or businesses that deal in certain investments. If you are a financial institution and you think that you cannot enter into agreements with a retail ringfenced bank, you must tell us so that we can determine your status.

Right of withdrawal

First 14 days after you receive the executed copy of your agreement. This will bring the finance agreement to an end, but it does not automatically mean you can pull out of buying the vehicle or any insurance products / extras. If you withdraw, you must pay us the total amount of credit we are lending you for the vehicle and any insurance products / extras and interest on it within 30 days.

Voluntary termination

You have the right to end the agreement early and return the vehicle to us. If you do this, you need to pay us all repayments that have fallen due up to the time of termination. If at the point that you terminate, the amount you have paid for the vehicle (including the deposit) is less than half the total amount payable for the vehicle you will also need to make an additional payment to bring the amount up to this sum.

You will also need to pay:

-the outstanding balance less any rebate of charges due for any insurance products / extras

-any charges that may apply if you have not kept the vehicle in good repair

Satisfactory quality rights

You have rights against the lender if the vehicle is not of a satisfactory quality. If you experience problems with the vehicle, we will work with the retailer to resolve your concerns.

Early settlement

You can pay off your agreement in full at any time. Just contact us and we will tell you what you need to pay and by when. You may even get a rebate of some of your interest. Where applicable, the interest is calculated up-front and added to the balance at the start of your agreement. Whilst you pay an equal repayment amount each month, the amount of interest that you pay each month reduces over the life of the agreement so this will impact the level of rebate that you receive.

Eligibility criteria

-You must be at least 18 years old and a permanent UK resident.

-You must have the relevant driving licence for the vehicle.

-You must have fully comprehensive insurance which you’ll need to arrange yourself.

Vehicle information

The Retailer should disclose to you information that is material for you to make an informed decision, such as information that might affect the price, condition and/or value of the vehicle. Please ask your Retailer for any specific information that you need about the vehicle to make an informed decision and check the V5C to ensure that you are comfortable with the information recorded.

Retailer commission

Retailers typically receive commission or other benefits for introducing you to us. If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.

How information is recorded

Details of your credit agreement will be recorded with credit reference agencies. Hire Purchase agreements are recorded as unsecured lending products in line with industry practice.

Relevant financial institutions

Land Rover Financial Services is a trading style of Black Horse Ltd which is part of Lloyds Banking Group’s ring fenced bank. This means we cannot enter into agreements with certain types of financial institutions, for example, banks or businesses that deal in certain investments. If you are a financial institution and you think that you cannot enter into agreements with a retail ringfenced bank, you must tell us so that we can determine your status.

Right of withdrawal

First 14 days after you receive the executed copy of your agreement. This will bring the finance agreement to an end, but it does not automatically mean you can pull out of buying the vehicle or any insurance products / extras. If you withdraw, you must pay us the total amount of credit we are lending you for the vehicle and any insurance products / extras and interest on it within 30 days.

Voluntary termination

You have the right to end the agreement early and return the vehicle to us. If you do this, you need to pay us all repayments that have fallen due up to the time of termination. If at the point that you terminate, the amount you have paid for the vehicle (including the deposit) is less than half the total amount payable for the vehicle you will also need to make an additional payment to bring the amount up to this sum.

You will also need to pay:

-the outstanding balance less any rebate of charges due for any insurance products / extras

-any charges that may apply if you have not kept the vehicle in good repair

Satisfactory quality rights

You have rights against the lender if the vehicle is not of a satisfactory quality. If you experience problems with the vehicle, we will work with the retailer to resolve your concerns.

Early settlement

You can pay off your agreement in full at any time. Just contact us and we will tell you what you need to pay and by when. You may even get a rebate of some of your interest. Where applicable, the interest is calculated up-front and added to the balance at the start of your agreement. Whilst you pay an equal repayment amount each month, the amount of interest that you pay each month reduces over the life of the agreement so this will impact the level of rebate that you receive.

Eligibility criteria

-You must be at least 18 years old and a permanent UK resident.

-You must have the relevant driving licence for the vehicle.

-You must have fully comprehensive insurance which you’ll need to arrange yourself.

Vehicle information

The Retailer should disclose to you information that is material for you to make an informed decision, such as information that might affect the price, condition and/or value of the vehicle. Please ask your Retailer for any specific information that you need about the vehicle to make an informed decision and check the V5C to ensure that you are comfortable with the information recorded.

Retailer commission

Retailers typically receive commission or other benefits for introducing you to us. If you request, they must tell you in good time before you enter into the credit agreement, the amount of any commission payable.

How information is recorded

Details of your credit agreement will be recorded with credit reference agencies. Advance Payment Plan agreements are recorded as unsecured lending products in line with industry practice. The total outstanding balance recorded with the credit reference agencies will be the optional final repayment amount. Should you decide to return the vehicle to us at the end of your agreement, the outstanding balance will be adjusted to reflect that the optional final repayment is no longer due.

Relevant financial institutions

Land Rover Financial Services is a trading style of Black Horse Ltd which is part of Lloyds Banking Group’s ring fenced bank. This means we cannot enter into agreements with certain types of financial institutions, for example, banks or businesses that deal in certain investments. If you are a financial institution and you think that you cannot enter into agreements with a retail ring-fenced bank, you must tell us so that we can determine your status.