What is balloon payment

A balloon payment is a lump sum owed to the car finance company or bank at the end of the finance agreement.

What is PCP balloon payment refinance

A balloon payment is the final repayment at the end of a PCP (Personal Contract Purchase) car finance contract which you must do in order to own the vehicle. Here at Carfinance+ we can help you to get finance arranged for your PCP balloon payment. You can keep your car with monthly repayments that will suit your budget and affordability.

How to refinance your PCP balloon payment?

Many people have a problem of finding cash to pay the PCP balloon off at the end of the agreement. This is why we offer our customers the chance to refinance their balloon payment balance. We can often get our customers refinance at a better rate than the initial car finance agreement.

To get your ballon payment finance, follow these steps:

Step 1 - Apply for finance

Your dedicated account manager will work with you according to your chosen finance plan, making the process easier. Whether that’s helping you pick a car or talking to the dealer, we’re on hand to help.

Step 2 - Decide your budget

Use our simple tool to check how much money you could borrow alongside our easy repayment plans. Understand your finance options to help you shop for a car within your ideal budget.

Step 3 - Your balloon payment is refinanced

Carfinance+ will repay the PCP balloon payment to your car finance company and the car is yours.