Spread the cost of your vehicle by paying in fixed monthly instalments with terms from 36 to 48 months. 

This product contains a balloon payment at the end of the finance agreement, which can make the monthly instalment amounts lower than they are on a traditional Hire Purchase (HP) agreement. This could be a good option for customers who like to change their vehicle frequently. 

When you have paid off the finance agreement, the final balloon payment (also known as the Guaranteed Minimum Future Value or GMFV) and any final administration fees that apply to the contract, the vehicle becomes yours. 

Alternatively, you can return the vehicle to us, or use it as a part exchange against your next vehicle, subject to dealer acceptance. 

Please be aware that there may be some additional charges if you choose to return your vehicle and have exceeded the mileage limit set out in your agreement, or if damage to the vehicle has occurred outside of fair wear and tear.

Pros & Cons

Generally lower monthly repayments than a typical Hire Purchase agreement

Flexible repayment terms to help suit your monthly budget

No minimum or maximum deposit, so you can have more control over the amount of finance required

Fixed interest rates, so you know exactly what you’re paying every month for the length of the term

At the end of the agreement you can purchase the vehicle outright, return the vehicle to us, or use it as a part exchange against your next vehicle, subject
to dealer acceptance

You don’t own the vehicle until you’ve made your final payment, including the final balloon payment, which means the vehicle could be repossessed if you do not maintain contractual payments

You cannot sell or give the vehicle away until you have paid all of the repayments under the finance agreement

Excess mileage charges apply, as documented in the finance agreement prior to purchase

If the predicted Guaranteed Minimum Future Value (GMFV) is set very close to the actual value of the vehicle, there will be little equity to roll onto another deal

The vehicle’s future value is based on its condition in comparison to vehicles of the same age and mileage. Any damage that is not down to normal wear and tear will need to be rectified by the customer

Finance is subject to affordability checks and is only available to UK residents aged 18 and over. If you don't keep up with your repayments, the vehicle may be repossessed.