Ending a personal contract purchase agreement
Your options
At the end of your PCP agreement, you have 4 options.
If you don't choose 1 of the 4 options in your online account, we'll assume you're keeping your vehicle.We'll take the optional final payment by Direct Debit on your final payment date.
Option 1 - Keep your vehicle
You'll need to pay the optional final payment.
You can log in to see the final payment amount.
If you pay by Direct Debit, the final payment will be taken automatically at the next payment date. Or you can make a debit card payment online. Maximum payment with debit card online is £30,000. We don't take credit cards. There are other ways to pay.
You’ll need to pay a £10 purchase fee. It’s automatically added to your last monthly payment, so you don’t need to do anything.
Option 2 - Refinance your vehicle
In the end of contract option page, choose refinance. This will refinance the optional final payment.
The information you give us and your credit profile will decide if we’ll offer you the finance. If we do, you’ll need to pay a £10 purchase fee. It’s automatically added to your last monthly payment, so you don’t need to do anything.
Option 3 - Part exchange your vehicle
Go to a dealer and tell them what your final optional payment amount is. You'll need to agree a part exchange value for your vehicle with them.
Making the payment – Once you’ve agreed terms with a dealer or third-party company to settle your account they need to pay the final optional payment before the end of your agreement. It can take up to 3 working days for the payment to show on your account.
Your account is settled – you can arrange with the dealer to give them your old car, and take your new one.
Option 4 - Return vehicle to us
If you don’t want to keep the vehicle and pay the final optional payment, you can give it back to us.
The vehicle must be in good condition and within the agreed mileage to avoid any charges.
View the Good Condition Guide (PDF, 1.2MB)
Tell us you want to give the vehicle back and arrange for it to be collected.
Make your last monthly payment.
We collect the vehicle around the final payment time.
Settle agreement early
If you want to pay off the rest of your regular monthly payments and the optional final payment early, and keep the vehicle, you can.
Get a settlement amount – Log in to your online account, select ‘Your settlement details’ and follow the instructions. This amount will include any fees, charges and the optional final payment. See our step by step guide.
Make the payment – You have 28 days to pay before you’ll need to request a new settlement amount. The maximum amount you can pay online with a debit card in one transaction is £30,000. We don't take credit cards. You can pay using another payment method. Payments can take up to 3 days to show on your account.
We’ll close your account – We’ll send you a completion letter 10 days after we receive the final payment. We’ll remove our financial interest in the vehicle, and it's legally yours.
Still need help?
If you've not found what you need, you can get in touch.