Key factors
Useful information includes the current settlement figure, APR, payment, remaining term, vehicle value, mileage and agreement type. A comparison should also cover any new term, total repayable and fees.
PCP and HP
PCP and HP agreements can have different features. PCP may include an optional final payment and mileage or condition terms. HP commonly focuses on the remaining balance and repayment schedule. Read the individual agreement carefully.
Important trade-off
A lower monthly payment may result from a longer term. That can increase the total amount repaid. Eligibility, rates and final terms are subject to status and lender criteria.
Further reading
Use the related guides below to read about UK car refinance, lower payments, PCP, HP and common refinance questions.
Questions to consider
- Does payment history matter?
- Providers may consider information relevant to their assessment. Give accurate information and read the details of any process before continuing.
- Are these pages a substitute for the agreement documents?
- No. Agreement documents and provider disclosures set out the terms that apply to a particular option.