FAQs - Existing customers

Why you may owe us after handing back a vehicle

Sam Wooller, Customer Experience Communications Manager, Monday, 22 June 2020
Updated: Monday, 15 May 2023

When you signed up to your vehicle finance agreement with us, you agreed to pay us a certain amount over time to eventually become the legal owner of the vehicle.

If you end the agreement early, you will need to return the vehicle to us and it’s possible you’ll owe us an amount to clear the agreement.

Returning the vehicle to us in a good condition and in good time can reduce the amount you will owe to clear the agreement. This is because if the car is in a good condition and is as young as possible, then it is likely to sell for more money. This money will then be taken off what you owe us, reducing the amount left on your agreement.

If you’ve already paid us half of the agreement cost and you use the voluntary termination option there may be little or nothing to pay, other than any arrears or charges that are applicable.