Renewals FAQs

Customer Support

I want to change my vehicle, what do I need to do?

We understand that circumstances change which might lead to you needing to change your vehicle. If this is the case, you can apply online to change your vehicle.

By applying via our website, you will be able to self-manage your application and we may be able to provide you with an instant decision on your approval and how much you can borrow. 

Is there a certain amount of time I have to keep the vehicle before I can apply to change it?

You can apply to change your vehicle at any point during your agreement. However, if you are within the first twelve months of your Hire Purchase agreement, the full settlement figure may need to be cleared.

Can I have two finance agreements running at the same time?

Yes, we do offer our customers the ability to have a second agreement running alongside their existing vehicle finance. 

Do I have to buy a vehicle from the same dealership I bought my last vehicle from?

No, there is no obligation for you to purchase a vehicle from the same dealership you purchased your last vehicle from.

We have worked with over 8,700 dealerships across the UK, and even if you find a vehicle that you want from a dealership that we haven’t worked with before, our Onboarding team can look into getting them set up as a dealer partner on our system.

If you are struggling to find a vehicle, we have a team dedicated to helping customers find a vehicle – call our Deal Making team on 0141 848 8933.

What is negative equity?

Negative equity is the price difference between your settlement figure and what your part exchange is valued at.

For example, if you are given a settlement figure of £4,000 and your part exchange is valued at £3,000, there would be £1,000 negative equity.

How much negative equity can I carry over?

The maximum amount of negative equity we usually allow our customers to carry over to their new finance agreement is £1,000. However, this amount is dependent on the price of the new vehicle you wish to purchase and its valuation.

For example, if the new vehicle you are wanting to purchase costs £5000 but is valued at £5,800, you would only be allowed to carry over £800.

No application is guaranteed. All finance is subject to status, and terms and conditions apply.

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