FAQs - The application process

Is there a cooling off period for car finance?

Sam Wooller, Customer Experience Communications Manager, Tuesday, 04 August 2020
Updated: Monday, 15 May 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.