NEGATIVE EQUITY PRIVILEGE
PROTECT YOURSELF FROM NEGATIVE EQUITY IF YOUR VEHICLE IS DEEMED A TOTAL LOSS BY YOUR INSURER.
Should your vehicle be declared a total loss from collision, fire or theft, your insurer may only pay its fair market value. This puts you at risk for negative equity, meaning you owe more money on your vehicle loan than your vehicle is worth. What’s more, the amount paid may not be enough to purchase a replacement.
If you find yourself in this situation, we’re here to assist you.
With Negative Equity Privilege, you are eligible for an in-store loyalty credit towards a replacement vehicle*, which will help to cover the difference between your insurer’s payout and your vehicle loan balance.
FOR EXAMPLE:ǂ
Outstanding loan balance |
$63,000 |
Vehicle value |
$56,000 |
*In-store loyalty credit |
$7,000 |
Negative Equity Privilege is available on all makes and models within six model years and must be purchased within seven days of the purchase date of your vehicle.
Contact your local Land Rover Authorized Retailer to find out more about the Land Rover Protection Program.
ǂProduct summaries and graphs are provided for informational purposes. Ask your Land Rover Authorized Retailer for actual terms and conditions governing membership privileges.