PRETORIA - It's easy to understand why Jaguars and Land Rovers remain sought-after vehicles in the premium class. Not only are the latest-generation vehicles sublime to drive, they're also packed with technologies that make them safer and more efficient too.

But, there's no arguing that Jaguars and Land Rovers are not the most affordable premium vehicles on sale in South Africa. In fact, the models that we really want can retail well into the millions of rands (Hello Range Rover SVR).

Taking the rapidly rising cost of new car prices (and living) into account, JLR SA is trying to make it easier to own one of their products through tailor-made finance plans that enable you to drive a new car of your dream every four years.
If you must have the latest and greatest

Jaguar Land Rover SA has introduced the option of a Guaranteed Future Value finance product in South Africa, which gives you the opportunity to step into a new Jaguar or Land Rover vehicle every three or four years. You needn't worry about taking an expensive 'bath' when it comes to re-sale or trade-in time either, as  buyers will know right from the start of their finance contract what the guaranteed future value of their Jaguar or Land Rover will be. Jaguar Land Rover SA spokesmen say this finance package is ideal for people that must have the latest and greatest model; as it allows customers to plan ahead with an option to either renew, retain or return the vehicle at the end of a pre-determined term.

The company's financial services manager, Viola Rossouw says: " This product will appeal to a changing customer – a customer who wants no risk at the end of the term. A customer not interested in ownership but rather ‘user-ship’. A customer who wants to drive a new vehicle every three or four years.”

How tailored finance for your new Jag or Landy will work

The company says signing up for its Guaranteed Future Value product is as simple as selecting your preferred Jaguar or Land Rover model, choosing the period of use, distance (km) and paying a deposit.

At the end of the term, customers will have three options:

1) Renew your contract

Let's say you've selected a Range Rover Sport for a period of four years and you're nearing the end of your finance agreement. Now, if you're still smitten by the Rangie, you can tell you financier (JLR SA) that you'd like to renew your contract for a few more months or years. They'll work out the cost of a monthly premium based on your Range Rover's guaranteed value and you can then sign another contract for the period of time that you'd like to keep that same car.

2) Retain your vehicle

If you've fallen in love with your Jaguar or Land Rover and simply can't bring yourself to part ways with it, you can talk to your dealership about retaining the car and paying it off through traditional finance mechanisms. Basically, you'll be buying your car again, but this time you can elect not to take a guaranteed future value as you'll be financing it as a used car. Depending on the vehicle and the mileage you've covered, you could even opt to finance it for another three or four years.

3) Return the vehicle

Let's say you're reaching the end of your guaranteed value finance deal and you decide that the vehicle just isn't right for your lifestyle anymore. You can simply drive it to your dealership and return it, no questions asked. However, you should ensure that all your monthly premiums and any outstanding monies owed on the vehicle is up to date. Returning your car might be a great idea if you'd like to try a new brand or some thing different in a few years, but do note that you would have paid monthly premiums for quite a few years and you won't have any vehicle to show for it. (Deposit is gone too)

Guaranteed Future Value deals can work to your advantage if you remain within the mileages stipulated in your finance contract and ensure that the vehicle remains in a showroom manner throughout your 'user-ship' cycle. If you go over the mileage specified in your contract, or if your vehicle is accident-damaged and poorly repaired, you won't receive the value that you were guaranteed at the start of your contract.

Do a bit of homework and speak to the financial consultant at the dealership to gain a deep understanding of how the finance is structured. If you don't mind paying to use a car, these sorts of deals are ideal for you.