How to refinance a Motonovo or Black Horse final PCP balloon payment
Did you know you can refinance your final balloon payment onto another finance agreement? This isn't a commonly know option as not all banks or lenders offer this. There's no dealer involvement in the transaction (as you're simply refinancing the car you already have) so it's outside the policy of many lenders. You're basically selling the car to the finance company and refinancing it back again. It's therefore considered a private sale by many lenders and outside of their overall procedural risk. The risk however is minimal as you already know the car and will have maintained it well throughout the time you've owned it.
Here at Proactive Vehicle Finance we understand that there are many reasons why you'd prefer to keep your current car. It makes sense then to be able to refinance the balloon payment with someone who can facilitate this transaction.
So how do you refinance your car balloon payment?
Simple. You can access our online application form here, alternatively you can obtain an indication of payments via our online calculator. We can consider business or private applications to refinance your balloon payment, as some balloon agreements are in company names.
One of our team will then call you back to obtain your vehicle details, talk through the process and answer any questions you may have. We'll then get to work to find the most appropriate finance company from our panel of lenders to obtain the lowest rate, taking into consideration the car you wish to refinance (age, mileage etc) and your credit circumstances (finance is subject to status). We have a panel of lenders and some are more flexible than others when it comes to criteria. So don't worry if you've been turned down elsewhere. In some instances we can look to refinance your balloon payment with another balloon payment agreement. This may be preferable on newer vehicles or where the balloon payment due is larger (for example refinancing prestige car balloons).
If you'd like to chat to one of our team about refinance for you car balloon payment you can contact us on 0151 459 6492. We have a no pressure, friendly approach and we're more than happy to discuss your options before you apply.
Here at Proactive Vehicle Finance we understand that there are many reasons why you'd prefer to keep your current car. It makes sense then to be able to refinance the balloon payment with someone who can facilitate this transaction.
So how do you refinance your car balloon payment?
Simple. You can access our online application form here, alternatively you can obtain an indication of payments via our online calculator. We can consider business or private applications to refinance your balloon payment, as some balloon agreements are in company names.
One of our team will then call you back to obtain your vehicle details, talk through the process and answer any questions you may have. We'll then get to work to find the most appropriate finance company from our panel of lenders to obtain the lowest rate, taking into consideration the car you wish to refinance (age, mileage etc) and your credit circumstances (finance is subject to status). We have a panel of lenders and some are more flexible than others when it comes to criteria. So don't worry if you've been turned down elsewhere. In some instances we can look to refinance your balloon payment with another balloon payment agreement. This may be preferable on newer vehicles or where the balloon payment due is larger (for example refinancing prestige car balloons).
If you'd like to chat to one of our team about refinance for you car balloon payment you can contact us on 0151 459 6492. We have a no pressure, friendly approach and we're more than happy to discuss your options before you apply.