HOW ADVANCE PAYMENT PLAN WORKS
Based on your chosen term (between 13 and up to** 37 months) and mileage* Jaguar Financial Services will determine the Guaranteed Minimum Future Value (GMFV) of your vehicle at the end of your agreement. The GMFV is deducted from the price of your vehicle and you simply pay the remaining balance plus the agreement interest (if applicable) as a single upfront payment - there are no monthly payments. At the end of the agreement, just choose from one of the following options:
1. Renew – part exchange the vehicle subject to settlement of your existing finance agreement; new finance agreements are subject to status.
2.Retain – to keep your Jaguar, you only need pay the optional final payment.
3. Return – return the vehicle and do not pay the Optional Final Payment. If the vehicle has exceeded the maximum agreed mileage a charge for excess mileage will apply. Providing the vehicle is in good condition (fair wear and tear accepted) and has not exceeded the maximum agreed mileage you will have nothing further to pay.
WHAT ELSE DO I NEED TO KNOW?
- Ideal if you want to protect against an unexpected fall in used vehicle value and want more spending power – maybe for a newer or higher specification model
- Advance Payment Plan features a Guaranteed Minimum Future Value (GMFV). Jaguar Financial Services will set the GMFV based on the estimated value of the vehicle at the end of the agreement - this value assumes the vehicle is within the agreed mileage and in good condition. The GMFV is deferred to the end of the agreement and, if you choose to exercise the Goods Return Option and the vehicle meets the mileage and condition requirements, you will have nothing further to pay
- A proportion of the credit is deferred to the end of the agreement and you should prepare for this if you want title of the vehicle to be transferred into your name
- Newer model means lower maintenance costs
Terms and conditions
*Maximum annual mileage is 35,000 and the maximum mileage at the end of the contract is 108,000 (37 month term). **Some APP Finance Offers have a maximum term of 24 months. For electric vehicles the maximum annual mileage is 24,000, not to exceed the battery warranty mileage at the end of the contract. Credit is subject to status and only available to UK residents aged 18 and over. Credit is provided by Black Horse Limited trading as Jaguar Financial Services, St William House, Tresillian Terrace, Cardiff CF10 5BH.
CONTACT A FINANCE SPECIALIST