Can I cancel or change my finance agreement?
There is always an initial period in which you can change or cancel your finance agreement. After this point, it will become much more difficult to amend the plan and it could cost you to do so. We'll provide all of the information you need, so you can be completely happy with the agreement you choose and the payments to be made before signing.
What happens if I don’t keep up with the payments?
If your finance is secured against your car, your lender reserves the right to repossess if you don't keep up with your payments. This means you're likely to lose access to the car. This applies even if you've selected a finance plan that gives you ownership of the vehicle at the end. On a Hire Purchase agreement, for example, the loan is secured against the value of the model - which means it's automatically used to pay the amount back.
Will there be penalties if I can’t keep up my finance agreement?
There may be penalties for failing to complete your finance agreement term, and you should always be aware of these before choosing your plan. As a reputable dealer, we'll talk you through the costs, interest rates and any potential fees and charges involved. Your circumstances might change, though, and the unexpected might happen. If you think you may have difficulties meeting your payments for an existing agreement it is important that you speak to your lender as soon as possible – they will be able to offer you further support and guidance.
All of the finance plans available at Lookers are tailored to your budget, making it easier to keep up with payments and own the car you want. To find out more and choose a model, please contact us at your nearest dealership today.
