90-Day Deferment Program
With the Deferment Program, your customers can defer their first payment for up to 90 days from the
contract date on retail contracts submitted to Land Rover Financial Group (LRFG).
Applicant Qualifications
- A FICO score of 700 or higher is required for all applicants.
- Business borrowers must have an individual as a co-borrower.
- Standard credit criteria apply.
- Minimum 5-year credit bureau history with five (5) satisfactory trade lines.
- Bureau history must be free of any repossession, bankruptcies or foreclosures.
Program Requirement
- This program is for subvented and standard retail contracts only
- New subvented or standard
- CPO subvented or standard
- Total amount financed, including tax, title and license (TT&L) and all aftermarket products, is
limited to $100,000. - The amount financed can’t exceed 75% of the applicant’s gross annual income.
- Eligible for finance terms up to 63 months 0 Finance terms 64 months – 72 months are not eligible.
Additional Information
- State standard rates apply. The rate will be reflected in your approval notice.
- For permitted subvented retail contracts Land Rover Financial Group subvented rates will
apply. - This program can’t be used with any other special programs.
- Some GAP products can’t be sold on the Deferment Program since they don’t all cover losses on contracts with a deferred first payment. Check the terms of all GAP products to confirm coverage and if unequal or irregular first payments are covered.