With The Balloon Plan you can keep your monthly payments lower by deferring a proportion of the amount of finance to the final payment at the end of the agreement.
Agree on the initial down payment and the tenure of the agreement based on which we will confirm your regular monthly payment. The Authorised Land Rover Retailer will submit the finance application to Land Rover Financial Services and subject to your application being approved, you can drive away in your Land Rover.
HOW IT WORKS
− Decide your down payment for a new Land Rover.
− Set your monthly payments to suit your budget by adjusting the final payment amount.
− Repay over 1-5 years for a new Land Rover.
− Down payment from 10 % may be available subject to approval from Land Rover Financial Services and at their sole discretion.
− With The Balloon Plan, you have the opportunity to maintain a lower EMI which is fixed for all months thanks to the final higher payment scheduled to be paid in a lump sum at the end of the tenure.
− There are no mileage restrictions as with other finance options.
WHAT HAPPENS AT THE END OF MY AGREEMENT?
− Pay the deferred final payment and retain your Land Rover.
− Part-exchange the vehicle subject to settlement of your existing finance agreement. You are then free to upgrade to a new Land Rover.
WHAT ELSE DO I NEED TO KNOW?
− Ideal if: You like to drive the newest model and you want to keep your monthly payments lower.
− Introducing a deferred final payment enables you to reduce your monthly payment.
− Options at the end of the tenure to pay the final payment and retain your Land Rover.
− A proportion of the finance is deferred until the end of the agreement so you should prepare for this.
− We strongly recommend that your Land Rover has a valid insurance policy throughout the tenure of the agreement.
− Your vehicle is at risk of repossession if you do not maintain repayments as per your agreement.
− After all the payments have been made, Land Rover Financial Services will issue a No Objection Certificate allowing you to remove hypothecation from the Registration Certificate. Until the final payment is made, your Land Rover will remain hypothecated by Land Rover Financial Services.
OTHER FINANCE PLANS
Allows you to spread the cost of buying your dream Land Rover with a standardised monthly payment tenure for the duration of the loan.
Maintain a lower EMI which is reduced due to an annual bullet payment option. A perfect plan for those who expect seasonal income or annual hike.