[et_pb_section fb_built=”1″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Looking to finance a PCP balloon payment? Let us help.” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n
[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”2_3,1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”2_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n
If you\u2019re coming to the end of your PCP agreement, you may be wondering what your options are. Many people choose to simply hand the car back but if you\u2019re still loving your PCP car, you may want to consider keeping it. However, this means paying off the large balloon payment which many can\u2019t afford to do. This is where refinancing a balloon payment comes in handy and UK Car Finance are here for you<\/a>! We can help you refinance a balloon payment, so you can keep on driving the car that you love! We have a select lending panel who are able to offer you the refinancing of a balloon payment.\u00a0<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.uk-carfinance.co.uk\/wp-content\/uploads\/2022\/06\/undraw_feeling_happy_jymo-300×283.png” alt=”refinance balloon payment” title_text=”undraw_feeling_happy_jymo” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_url=”https:\/\/www.uk-carfinance.co.uk\/apply\/” button_text=”Get started ” button_alignment=”center” _builder_version=”4.20.2″ _module_preset=”default” custom_button=”on” button_text_color=”#FFFFFF” button_bg_color=”#FE9125″ button_icon=”=||divi||400″ button_icon_color=”#FFFFFF” button_on_hover=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”What is a PCP balloon payment?” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n PCP deals are a great way to get a new or used car with low monthly payments. PCP car finance<\/a> deals can offer lower monthly payments than other finance deals such as hire purchases because you don\u2019t spread the total cost of your chosen car. Instead, you pay the difference between the car’s purchase price and its expected value at the end of the deal. It’s a common PCP finance myth that you can’t own a car<\/a>. However, at the end of your contract, there will be an optional final payment or \u2018balloon\u2019 payment to pay if you wish to keep the car. For example, you may purchase a new car for \u00a320,000 which could be worth \u00a38000 at the end of your term. Your monthly payments will cover the difference, and then you will have an \u00a38000 lump sum to pay to keep the car. Many consumers can\u2019t afford to pay outright, so they choose to finance a PCP balloon payment instead.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,2_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.uk-carfinance.co.uk\/wp-content\/uploads\/2022\/06\/undraw_Faq_re_31cw-4-300×195.png” alt=”question” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][\/et_pb_column][et_pb_column type=”2_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Can you refinance a PCP car?” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Yes, and we can help you refinance!<\/strong> If you currently have a car on PCP and want to keep it but can\u2019t afford the lump sum, we can help you refinance the balloon payment. We have a bespoke lending panel that can offer finance for PCP final payments You don\u2019t need to refinance with your current lender either. Sometimes, your current lender may not offer you balloon payment finance due to an adverse credit history. Or simply, they may not have the rates that are right for you. You don\u2019t want to be paying more than you need to refinance your final payment, so it\u2019s worth getting the lowest interest rate you can.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Refinance options we can offer through our lending panel: ” _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.20.2″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_url=”https:\/\/www.uk-carfinance.co.uk\/apply\/” button_text=”Free finance quote” button_alignment=”center” _builder_version=”4.20.2″ _module_preset=”default” custom_button=”on” button_text_color=”#FFFFFF” button_bg_color=”#FE9125″ button_icon=”=||divi||400″ button_icon_color=”#FFFFFF” button_on_hover=”off” global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”How to refinance balloon payment with UK Car Finance: ” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Refinancing a PCP balloon payment with us is easy! We have a panel of trusted lenders who can offer car balloon payments loans and finance. Every customer we deal with receives the highest level of customer service from our finance experts who put you at the heart of everything we do.<\/p>\n Before you can refinance your balloon payment you will need to obtain a settlement figure from your current lender,<\/strong> so our lenders can help to clear the outstanding balance. You can apply to refinance your balloon payment in three simple steps:<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_3,1_3,1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.uk-carfinance.co.uk\/wp-content\/uploads\/2022\/06\/undraw_Personal_info_re_ur1n-300×163.png” alt=”tell us about you” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”1. Tell us about you” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n Before we get you approved for balloon payment financing, we need a few details from you about your current situation. You can do this by completing our short online application which won’t harm your current credit score!<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.uk-carfinance.co.uk\/wp-content\/uploads\/2022\/06\/undraw_Hello_re_3evm-5-300×144.png” alt=”meet your finance expert” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”2. Meet your personal finance expert” _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n When you apply with us, you get assigned your very own finance expert. Our team have an in-depth knowledge of the car finance industry and will be there for you every step of the refinancing process!<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_3″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_image src=”https:\/\/www.uk-carfinance.co.uk\/wp-content\/uploads\/2022\/06\/undraw_by_my_car_ttge-4-300×216.png” alt=”enjoy your car” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][\/et_pb_image][et_pb_text admin_label=”3. Enjoy the car you love” _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Many people choose to refinance a balloon payment because they love the car they currently have. We help you get the best refinancing rate for your circumstances, so you’re free to enjoy your car without worry!<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_button button_url=”https:\/\/www.uk-carfinance.co.uk\/apply\/” button_text=”Get a free quote” _builder_version=”4.17.4″ _module_preset=”default” custom_button=”on” button_text_color=”#FFFFFF” button_bg_color=”#fe9125″ global_colors_info=”{}”][\/et_pb_button][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Refinance balloon payment – hire purchase vs personal loan. ” _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=”1_2,1_2″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”1_2″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Hire purchase” _builder_version=”4.22.1″ _module_preset=”default” custom_margin=”||||false|false” custom_padding=”40px|30px|40px|30px|false|false” hover_enabled=”0″ border_radii=”on|30px|30px|30px|30px” border_width_all=”3px” border_color_all=”#84f1ac” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n Hire-purchase is a form of car finance that allows you to spread the cost of the loan you want. Hire-purchase can be used to refinance balloon payments, and you get to keep the car at the end of your deal. HP is a great way to keep driving the car you love and pay for it in affordable monthly payments. Within an HP agreement for refinancing, the lender would pay off your balloon payment, and you would pay the lender back in monthly instalments. HP is really flexible, and you can pay your refinancing deal back over 1\u20135 years. It\u2019s also a great option for those who may not have the best credit score as the loan is secured against the vehicle.\u00a0<\/p>\n Find out more about hire-purchase car finance<\/a>.<\/p>\n [\/et_pb_text][\/et_pb_column][et_pb_column type=”1_2″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Personal loan” _builder_version=”4.22.1″ _module_preset=”default” custom_margin=”||||false|false” custom_padding=”40px|30px|40px|30px|false|false” hover_enabled=”0″ border_radii=”on|30px|30px|30px|30px” border_width_all=”3px” border_color_all=”#84f1ac” global_colors_info=”{}” sticky_enabled=”0″]<\/p>\n A car balloon payment loan can be a straightforward way to refinance your current vehicle. A personal loan can be offered by banks and building societies and can be used for anything you want. If approved, the loan is deposited straight into your bank account. You can then use this amount to pay off your balloon payment and the car will be yours to keep. You then make monthly payments with added interest to the lender who provided your personal loan. The best rates on personal loans can be offered to people with good credit<\/a> scores though, so it may not be suitable for everyone.<\/p>\n [\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_column type=”4_4″ _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”][et_pb_text admin_label=”Should you finance a balloon payment or hand the car back to the dealer?” _builder_version=”4.17.4″ _module_preset=”default” global_colors_info=”{}”]<\/p>\n [\/et_pb_text][et_pb_text _builder_version=”4.22.1″ _module_preset=”default” hover_enabled=”0″ global_colors_info=”{}” sticky_enabled=”0″]<\/p>\nWhat is a PCP balloon payment?<\/strong><\/h2>\n
Can you refinance a PCP car?<\/strong><\/h2>\n
Refinance options we can offer through our lending panel:\u00a0<\/strong><\/h2>\n
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How to refinance balloon payment with UK Car Finance:<\/strong><\/h2>\n
1. Tell us about you<\/strong><\/h3>\n
2. Meet your personal finance expert<\/strong><\/h3>\n
3. Enjoy the car you love<\/strong><\/h3>\n
Refinance balloon payment – hire-purchase vs. personal loan.<\/strong><\/h2>\n
Hire purchase<\/strong><\/h3>\n
Personal loan<\/strong><\/h3>\n
Should you finance a balloon payment or hand the car back to the dealer?<\/strong><\/h2>\n