Help & Advice

Refinance Car Balloon Payment

Hello, i have come to the end of my finance agreement and have been asked to pay off the baloon payment or hand the car back.

I'd like to keep the car if possible so can you refinance my baloon payment? You help / advice would be appreciated :-)

Tommy


Answer

Hi Tommy, thank you for your question. Here at CarFinance 247 we do have options to re-finance balloon payments for customers.

We understand that people can become attached to their cars & that they don't want to hand it back at the end of the PCP agreement. All you need to do is make an application and if approved we'll do the rest. We'll clear the outstanding balloon payment once all the documentation has been signed and then you're free to keep driving your car with a new finance agreement in place.

Please make an application when you're ready to do so and if approved we provide a no obligation quote. Kind Regards, Rachel

Answer correct as of September 2016

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In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender

More related questions

Hello, I'm coming to the end of my finance on my car and I'm looking to refinance the balloon payment. Can you help?

Answer

Hi Nigel, thank you for your question.

We do indeed have access to lenders that enable consumers to re-finance their balloon payments. Whether we can get you approved will depend upon your financial circumstances, and the amount you can borrow will be dependent upon your income. We do search the market to get you the best deal though.

Please make an application when you're ready and if approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

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Rachel Wilson, Underwriting Manager

Set your budget

£
4 years

In this illustration your credit score is set to

Best available rate
Total repayment
Total cost of credit

Best available rate

Total repayment

Total cost of credit

We compare products from 18 of the UK's top lenders to get you the best deal.

Representative example. Excellent Credit

Borrowing £7,500 over 48 months with a representative APR of 16.8%, an annual interest rate of 16.8% and a deposit of £0.00, the amount payable would be: £211.25 a month, with a total cost of credit of £2,640 and a total amount payable of £10,140.

CarFinance 247 is a broker and not a lender