Start with the settlement figure
Ask your current finance provider for a settlement figure and check the date until which it is valid. This is the amount needed to end the agreement at that point in time. Keep it alongside your current payment, remaining term and agreement documents before comparing an alternative.
Compare the full agreement cost
A lower monthly payment can result from borrowing over a longer term, which may increase the total amount repaid. Compare like-for-like figures and read the terms before deciding.
- Remaining payments and the current settlement figure
- Any fees or early-settlement terms
- The proposed term, rate and total amount repayable
- Any final payment and what happens at the end of the agreement
Can I refinance with the same lender?
It may be possible to ask your current lender about available options, but this depends on its products, criteria and your circumstances. It does not confirm that an option will be offered. Compare the whole agreement and any alternative you are considering, rather than assuming one route will be suitable.
When to pause and get support
If you are finding payments difficult, contact your current lender promptly to discuss the support available under your agreement. Refinancing is not suitable for every situation, and independent money guidance can help you consider your wider budget.
Reviewed: 9 September 2026
Sources and further reading
Questions to consider
- Is this personal financial advice?
- No, these guides provide general information only. Your circumstances and available terms need to be considered through the relevant process.
- Can I compare more than one option?
- You can gather and compare information, subject to the journey available to you. Compare like-for-like figures and read the terms attached to each option.
- Should I read my current agreement?
- Yes, especially the settlement and early-ending terms. The agreement provides the context needed for a meaningful comparison.
- Where can I start checking refinance options?
- Use the Apply route when you are ready to read the journey information. Review the information presented there before entering or submitting any details.