A payment deferral will affect the date your agreement ends, and your agreement will be deferred by the number of monthly payments that you defer. It will delay the date of your final payment; the final payment is known as the guaranteed future value. The amount of your final payment will not change and there will be no additional interest charges. We should confirm that this payment deferral option is available only to assist with COVID-19 circumstances, all other terms of your agreement remain unchanged.

If you have a PCP agreement you will still have three options at the end of your agreement. Following a payment deferral, the value of your car may decrease over the extended term of your agreement. You should consider your end of agreement options carefully to decide which option is best for you in these circumstances. If you do have questions at the end of your agreement you can contact us to discuss your options.

Your car needs to remain taxed and fully comprehensively insured during the additional month/s that your agreement will run. You may also need to pay for an MOT or vehicle service if these fall due during the extended period. Please also consider whether the term of any warranty you hold will expire prior to the new agreement end date.