Your driving enjoyment doesn't have to stop once your current PCP or LP agreement reaches the end of the road. Refinance is available as three different products: Personal Contract Plan (PCP), Lease Purchase and Hire Purchase.
Which refinance product is right for you?
PCP
Lease Purchase
Hire Purchase
How long would you like to refinance over?
12 - 49 months
12 - 49 months
12 - 60 months
How many miles do you expect to drive each year?
5,000 - 30,000
10,000 - 60,000
No restriction
Do you want another deferred payment (final balloon payment) at the end of your refinance agreement?
Yes
Yes
No
Is the future value of your vehicle guaranteed?
Yes
No
N.A.
Once your chosen agreement has started, here's what happens:
- You pay back your monthly repayments over the period you agreed at the start of your agreement
-To keep enjoying your vehicle, you need to keep up to date with your monthly repayments. Failure to do so can impact your credit rating and result with the vehicle being repossessed. If you are experiencing any money struggles, please contact us on: 0800 912 3558 so we can discuss what options may be available.
-You must keep your vehicle in good condition. If you return the vehicle and it is damaged, you may be charged, please check our damage guides for more information. Any repairs must be completed to our standards.
-If you want to end your agreement early, you can request a settlement quote. How far into your agreement you are will affect the amount left to pay.
When your agreement comes to an end, your options depend on your plan:
PCP
Lease Purchase
Hire Purchase
Pay off your optional final balloon payment and £10 option to purchase fee and own the vehicle
Pay off your final balloon payment and £10 option to purchase fee and own the vehicle
Pay the £10 option to purchase and own the car
Refinance the optional final balloon payment into another refinance agreement (minimum amount refinanced needs to be £1,500 or more)
Refinance the final balloon payment into another refinance agreement (minimum amount refinanced needs to be £1,500 or more)
Pay the £10 option to purchase and own the car
Trade your vehicle in for another one. Your current vehicle is sold back to the Retailer and used to pay off the optional final balloon payment. Any money left over can be used towards the deposit for another vehicle (subject to application and approval)
Trade your vehicle in for another one. Your current vehicle is sold back to the Retailer and used to pay off the final balloon payment. Any money left over can be used towards the deposit for another vehicle (subject to application and approval)
Trade your vehicle in for another one. Your current vehicle is sold back to the Retailer and the funds can be used to place a deposit on another vehicle (subject to application and approval)
If your vehicle is worth less than optional final balloon payment, simply return your vehicle to us (subject to BVRLA wear and tear guidelines, excess damage and mileage charges apply
If your vehicle is worth less than final balloon payment, you will be liable to pay the shortfall
Trade your vehicle in for a new one. Your current vehicle is sold back to the Retailer and the funds used to place a deposit on another vehicle (subject to application and approval)
Benefits
The benefits of a refinance agreement
Spread the cost
Instead of paying the outstanding final balloon payment in full, you can spread the cost with smaller monthly payments.
Enjoy your current vehicle
You keep the vehicle you are currently driving and continue to enjoy it.
Agreement term to suit you
You can choose how long your agreement lasts to suit your budget.
Terms and Conditions:
Refinance is not available to customers using their vehicle for hire or reward purposes.
Want to view the other products?
We have pulled together all the information, videos, and tools you need to make an informed decision about the right finance product for you.
