FAQs and Glossary
Can I re-finance the optional final (balloon) payment on a Solutions (PCP) or Lease Purchase Agreement?
Volkswagen Finance may consider a request to re-finance the optional final (balloon) payment, but it will be subject to underwriting as would a new application for finance.
Solutions - Once you have advised us that this is your chosen option, towards the end of your agreement we will contact our agents BCA to contact you and arrange a convenient time to inspect and collect the vehicle. Please note that charges may apply. Click here for more information on How your PCP agreement works.
Contract Hire - We will contact you 4 months before the end of your contract to advise you that the agreement is coming to an end. Our agents BCA will then contact you to arrange a convenient time to inspect and collect the vehicle. Click here for more information on How your Contract Hire agreement works.
If you have a Solutions (PCP) or Lease Purchase finance agreement with us you may be able to spread the cost of the balloon. We can consider arranging this for you subject to your status and satisfactory payment history.
Should you wish to be considered for this option please contact us at least 4 months prior to the end of your agreement, in order for us to advise you of the process, provide a quote and submit your details for an underwriting decision in a timely manner.
Acceptance fees and option-to-purchase fees are charged on most Agreements and contributes towards our administration costs.
We aim to provide a clearance letter within 14 days. If you have made any overpayments these will be refunded automatically into the account details that we hold on the agreement.
Part 9 of the V5 needs to be completed and returned to the DVLA. It will only need your signature not the collection agents and the details for the registered keeper will be Volkswagen Finance and our address can be found here.
Unfortunately we are unable to sell the vehicle to the agreement holder. However if you know of a third party interested in buying the vehicle, you can obtain a figure by going to the buying your vehicle section in Contract Hire.