I'm looking at using LR Freedom to buy a Freelander. Have any of you out there done so and is it a painful experience? My main question is with regard to when it gets to the end of the agreement. Is the difference between GMFV and vehicle actual value (which as I understand may be put towards the next vehicle), in general, is this 10p 50p £500 £2000 or what? I know this will be very much a case by case answer, but I only want an idea of what it could be [/i]

Last edited by dunroof on 26th Sep 2012 5:55 am. Edited 1 time in total

I have this agreement. Purchased new in 2010, 4 year GMFV deal.

The GMFV is £7,500. So if I part chop against another new car at the end of the deal, that is the minimum they can offer me but I am very confident it will be worth a fair amount more than that.

Alternatively I can hand the car back and walk away or I can cough up £7,500 (even if it is worth more) and keep the car. If I opt to buy it, I will have to pay excess mileage charges if I exceed the agreed amount but I am well within that at the moment (10k per year).

Hope that helps  LL.B (Hons) - University of Derby
LOT (Lord of Time) - University of Gallifrey

Bought our first Freelander on LR Freedom
Told the salesman that I did 40-45k miles a year, the computer wouldn't accept it so he put 25k, he didn't say anything and I didn't check. A little over 2 years later and 90k miles I decided to hand it back (transmission completely shot and warranty not valid after 30k) over 35,000 x 8p a mile = just shy of £3k - still cheaper than fixing it.

Handed it back early as it was classed as HP, and if you have paid a certain percentage you can just walk away.

READ THE SMALL PRINT Tangiers Orange - gone, missing her
Replaced by Ewok what a mistake - now a happy Disco Sport owner

[quote= I will have to pay excess mileage charges if I exceed the agreed amount but I am well within that at the moment (10k per year).
[/quote]

Reference above, I am confused by that. On the basis that the car was depreciated to the £7,500 based on the mileage, as long as you pay the £7,500, to purchase the car, they have not suffered a loss, so how they can expect you to pay that is beyond me?

Certainly my leasing agreement only charges excess mileage if I hand the vehicle back, but obviously no two agreements are the same.

Just worried that mine is now not the norm.

Luggs Never tell me the odds.

Bought 3 Freelanders using Landrover Freedom - it has been really straight forward each time.

I have managed twice to be able to secure a deal which has included 0% finance over 2 years, so no interest to pay and a great way to spread the cost a bit.

Simon 2012 SD4 HSE Santorini Black - happy bunny

The Doctor wrote:

I have this agreement. Purchased new in 2010, 4 year GMFV deal.

The GMFV is £7,500. So if I part chop against another new car at the end of the deal, that is the minimum they can offer me but I am very confident it will be worth a fair amount more than that.

Alternatively I can hand the car back and walk away or I can cough up £7,500 (even if it is worth more) and keep the car. If I opt to buy it, I will have to pay excess mileage charges if I exceed the agreed amount but I am well within that at the moment (10k per year).

Hope that helps

In my experience with 4 cars now from LR, they give on average between £4k to £7k above GMFV. ______________________
2011 Full Fat RR 4.4 TDV8
2012 FL2 SD4 Auto HSE
2013 Kawasaki Versys 650

When I bought my last Freelander in 2009 the GMFV was set quite low - seems to have been as a result of the financial issues in the world and so the finance company behind the loan had become somewhat nervous about future value of the car and so were protecting themselves.

When I got to the end of the deal (last year) the trade in value of the car compared to the GMFV was much higher...

Simon 2012 SD4 HSE Santorini Black - happy bunny

It's a while ago but I bought an S-Reg Freelander under this scheme or its BMW equivalent. At the end of the three years it wasn't worth paying the final sum (depreciation was higher than expected) so I took it back to the dealer, who seemed very surprised. The leasing company just dumped it in a field for a couple of years, lost all the paperwork and eventually sold it on as "low mileage" (3 years at 14000 plus 2 years at zero). Only downside was that I slightly exceeded the mileage and had to pay a small amount, and that I had to repair all the dents in order to give it back in good condition!

Thanks to all for your feedback, questions all answered.
I'm now waiting for the 2013 MY price lists to come out and then it's off to a stealer.

Quite right Luggs, it is only payable if handing it back. I got muddled up there  LL.B (Hons) - University of Derby
LOT (Lord of Time) - University of Gallifrey

Phew, now all I need to do is work out where all those errant commas came from. Never tell me the odds.

dunroof wrote:

IMHO, pay cash of you can. Your paying 2.5k interest otherwise.

D99 wrote:

dunroof wrote:

IMHO, pay cash of you can. Your paying 2.5k interest otherwise.