JLR India introduces a new assured buyback program with advanced financing solutions Selected Range Rover, Defender and Discovery models. Developed specifically for the Indian market, this program offers a minimum assured future value of up to 55% of the original ex-showroom price of the vehicle to eligible customers.
This initiative aims to address one of the biggest considerations associated with luxury vehicle ownership – depreciation and future resale value. By establishing a minimum future value early in the ownership period, JLR intends to provide customers with greater financial predictability as well as simplify future vehicle upgrades.
JLR Assured Buyback – How does it work?
Under the new programme, customers purchasing eligible Range Rover, Defender and Discovery models can opt for an assured buyback value of up to 55% of the ex-showroom price. The actual assured value will depend on factors including the model selected, ownership period, agreed mileage limit and retailer-specific terms and conditions.
For example, if the ex-showroom price of an eligible vehicle is Rs 1 crore, the assured future value of 55% will be Rs 55 lakh. This is an illustrative example only, as the actual buyback percentage and amount applicable to each vehicle will be determined at the time of purchase.
Importantly, JLR’s announcement specifies a Guaranteed Value of “Up to 55%”Which means that every vehicle covered under the program may not necessarily qualify for the maximum percentage. Customers will also have to adhere to the agreed mileage cap and other pre-determined conditions to be eligible for assured buyback.
Easier upgrades, more predictable ownership
As well as addressing the uncertainty around resale values, the program is designed to make upgrading to a new JLR vehicle more convenient. Since the minimum future value is established at the beginning of ownership, customers can plan their next vehicle purchase with greater certainty.
JLR India is also combining the Assured Buyback Program with advanced financing solutions. These are intended to provide greater flexibility in monthly payment structures and potentially make ownership of Range Rover, Defender and Discovery vehicles more accessible.
Commenting on the initiative, Rajan Amba, Managing DirectorJLR India said the guarantee of future value gives customers more confidence in luxury vehicle ownership. He said the financing solutions that come with the program will provide additional financial flexibility, making the aspiration of purchasing a JLR vehicle more attainable.
Available on selected JLR models
The Assured Buyback Program is being offered through participating authorized JLR retailers across India. However, availability will depend on the individual model and retailer. Assured value, tenure, mileage limit and other eligibility requirements may also vary.
With the new programme, JLR India essentially wants to reduce depreciation-related concerns, as well as encourage customers to upgrade to new vehicles at the end of their ownership tenure. For luxury car buyers, knowing the minimum future value of your vehicle in advance can significantly overestimate the total cost of ownership.