Many people have vehicles previously financed on an agreement with a balloon at the end, often known as lease purchase or PCP, but what are your end of PCP options? You may not want to hand your car back or change it though and prefer to keep the vehicle. Paying off the PCP balloon payment in one go can be a large cash outlay and you may not have all the cash to hand. We can therefore look to refinance the balloon payment when it’s due, leaving you free to carry on using the vehicle with a new agreement in place.
Other types of refinance - We can also help to refinance a personal car or van into your limited company name. Alternatively you may wish to see if you're eligible to refinance an existing car finance agreement onto a better rate.
Vehicles Refinanced - We can arrange to refinance cars, vans, pickups, motorbikes and motorhomes.
Customer types - Private individuals, self employed, limited companies (including new or recently established) or partnerships are all eligible to apply for balloon refinance. We've even been able to refinance balloon payments where other lenders haven't been able to help, as we have a panel of specialist lenders.
Finance types - Payments can be spread over a number of years on a Hire Purchase agreement. At the end (subject to all payments being made and any option to purchase fee if applicable) you will own the vehicle outright. In some instances, and depending on your credit circumstances and the age and mileage of your vehicle, a Lease Purchase agreement with a small balloon can be obtained.
The process - You will need to obtain an up to date settlement figure and letter from your current lender as we'll need the exact settlement amount for your new agreement. We'll then arrange to pay off your existing PCP balloon. It's very much a straight forward process and we'll talk you through it step by step. You can use our balloon refinance calculator below to get an indication of payments.
Applying for an approval in principle - You can access our online application form here, or click either of the blue "Apply" buttons on the page. You can also apply via the online calculator.
Our service -
We are a trusted credit broker with a panel of competitive banks and lenders - click here to see recent Trustpilot and Google reviews from previous customers.
There is no fee for our service and we provide:
What's the catch? There isn't one, this is how it should be. Our aim is to build long and lasting relationships with our business and private customers, it's as simple as that.
Click here to see Google & Trustpilot reviews from our other customers.
FINANCE CALCULATOR BELOW
**Don't forget to bookmark this page in your web browser for future reference.**
Find out what your monthly payments might look like with our hire purchase vehicle finance calculator (other types of finance available).
Find your monthly payment
Our finance calculator will help to give you an idea of what your monthly payments might look like for the price of vehicle you're looking to buy.
Step 1 - All you need to do is enter your current lenders settlement figure at the top.
Step 2 - Choose how long you’d like to pay the loan back over.
Step 3 - Then select your anticipated credit score.
The finance calculator will then provide an estimate of your repayments.
If you already have a budget in mind just enter your anticipated credit score first, then simply adjust the repayment period until you hit your payment.
Please note: The vehicle finance calculator is designed to give you an estimate of how much you could expect to pay each month based on the terms you select. The rates and payments quoted can change based on your individual circumstances, the lender from our panel that approves you, and the type, age or mileage of vehicle you refinance.
While the finance calculator can give you a good indication of what your monthly repayments might look like, everyone’s credit circumstances are different and finance is subject to status.
To find out whether you could be approved in principle for finance, simply complete our quick application form by clicking the appropriate "Apply Now" button at the bottom of the calculator for either a business or a private individual and, if approved, one of our team will give you a call to talk you through the next steps.
Rates from just 9.9% APR.
(The exact rate you will be offered will be based on your
individual circumstances)
Representative APR 17.2%.
Representative example:
Borrowing £11,000 over 4 years with a representative APR of 17.2%, an annual interest rate of 17.2% (Fixed) and a deposit of £0.00, the amount payable would be £311.61 per month, with a total cost of credit of £3957.28 and a total amount payable of £14957.28.
Rates may differ as they are dependent on individual circumstances, the lender you are approved with and the vehicle/equipment purchased.
(Click here to find out what a Representative APR & example is)
Finance is subject to status.
Warning: Late payment may impact your credit file and the lender may reclaim the vehicle or equipment financed prior to the end of the term of the agreement.