What happens if you have a vehicle to part exchange which has outstanding finance?

No need to worry. We will simply value your vehicle and then need to know the total outstanding amount you owe on your current finance agreement. This is commonly known as your settlement figure.

If the value of your current car is above the amount you owe then you will have some equity which you can use as a deposit against the finance on the car you are buying.

If the value of the car is lower than the amount you owe then this is called negative equity. In this scenario, you may be required to put in a deposit to assist with covering this difference. If you cannot afford to pay the difference then in many cases we can assist with this by incorporating this difference in the loan application for the car you are purchasing.