Is there a cooling off period for car finance?
Updated: Monday, 18 September 2023
Although we do not offer a 14-day cooling off period, you do have the right to withdraw from your car finance agreement with us. You do not need to give any reason, but you must withdraw from the agreement within 14 days of you receiving a signed agreement from us.
You can submit a withdrawal request by writing to us, you can find our address on our contact us page. Please address your letter to: ‘Moneybarn (Withdrawal Request)’.
You can also call our Customer Services Team on 0330 555 1230 to submit a Withdrawal Request.
If you decide to withdraw from your car finance agreement you must repay the amount you borrowed from us, including any accrued interest within 30 days of submitting your Withdrawal Request. Interest will accrue each day from the date the credit was provided to you until the day you repay the credit. The exact daily amount will be stated in your contract.
Please pay the amount of credit and accrued interest to us by bank transfer, our Customer Service Team will be able to give you our bank details. If you’d prefer, you can send us a cheque. You can find our address on our contact us page under ‘find us’.
Ownership of the vehicle will be transferred to you once you have repaid the credit and any accrued interest.
Although we do not offer a 14-day cooling off period, you do have the right to withdraw from your car finance agreement with us. You do not need to give any reason, but you must withdraw from the agreement within 14 days of you receiving a signed agreement from us.
You can submit a withdrawal request by writing to us, you can find our address on our contact us page. Please address your letter to: ‘Moneybarn (Withdrawal Request)’.
You can also call our Customer Services Team on 0330 555 1230 to submit a Withdrawal Request.
If you decide to withdraw from your car finance agreement you must repay the amount you borrowed from us, including any accrued interest within 30 days of submitting your Withdrawal Request. Interest will accrue each day from the date the credit was provided to you until the day you repay the credit. The exact daily amount will be stated in your contract.
Please pay the amount of credit and accrued interest to us by bank transfer, our Customer Service Team will be able to give you our bank details. If you’d prefer, you can send us a cheque. You can find our address on our contact us page under ‘find us’.
Ownership of the vehicle will be transferred to you once you have repaid the credit and any accrued interest.
For a better road ahead
Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.
Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.
Moneybarn’s VAT registration number is 180 5559 52.
Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)
Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)
