Personal contract leasing is big business in many parts of the world, but here in SA it has not really taken off, in spite of the best efforts of many finance houses and car makers. It is a product that is evolving with some companies like Volvo looking at taking it another step further to become a subscription model in the same way you subscribe to a cellphone contract. We are a number of years away from that here in SA though and in the meantime some people are choosing to switch from financed ownership to more of a usage deal. Jaguar Land Rover (JLR) is the latest to introduce such a package in the form of its Guaranteed Future Value finance product, giving customers the opportunity to step into a new Jaguar or Land Rover every three or four years. The company says that buyers will know right from the start of their finance contract what the guaranteed future value of their vehicle will be, allowing them to plan ahead with an option to either renew, retain or return the vehicle a...

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