Jaguar Land Rover has presented an alternative of a Guaranteed Future Value finance product in South Africa, giving customers the chance to venture into another Jaguar or Land Rover every three or four years.
Financial Services Manager, Jaguar Land Rover South Africa Viola Rossouw said buyers will know right from the beginning of their finance contract what the guaranteed future estimation of their Jaguar or Land Rover will be, enabling them to plan with an alternative to either renew, retain or return the vehicle toward the end of a pre-decided term.
“This product will appeal to a changing customer– a client who needs no hazard toward the end of the term. A client not inspired by ownership but instead “usership”. A client who needs to drive another vehicle every three or four years,” said Rossouw.
The Guaranteed Future Value product is as straightforward as choosing a favoured Jaguar or Land Rover, picking the time of use, distance (km) and deposit.
Toward the end of the term, a client will have three alternatives:
Before to the date on which the GFV is expected and payable and provided that the customer has paid every other amount owing, including any overdue debts and additionally arrear intrigue, the client may choose to trade the vehicle in for another Jaguar or Land Rover.
If the offer of the vehicle is more than the GFV amount, a customer can apply for any surplus amount towards the purchase of the new vehicle.
In the event that the client chooses to buy the vehicle, at that point before they will call the date on which the GFV is expected and payable upon to settle it and any overdue debts, arrear intrigue or some other sums payable.
The client can also opt to refinance the vehicle.
The client may choose to return the vehicle to a Jaguar Land Rover Retailer at the end of the chosen contract term, given that the Customer has paid up every other amount owing, including any unpaid debts or potentially arrear interest and that the vehicle complies with the condition of utilisation.