Refinance
Your Car
Already paying for car finance? Compare refinance options from our trusted UK lenders and see whether a new agreement could better suit your monthly budget.
Quick decision Refinance your current agreement No broker fees
Quick decision Refinance your current agreement No broker feesCar Loans UK is a credit broker, not a lender. Rates from 10.9% APR. Representative 21.6% APR (fixed).
Representative Example (Hire Purchase): Borrow £6,000 with £0 deposit over 60 months with a representative 21.6% APR (fixed). 60 monthly payments of £157.92. Final Option to Purchase Fee: £10. Total cost of credit: £3,485.20. Total amount payable: £9,485.20. Car Loans UK is a credit broker, not a lender. This is an example only; all finance is subject to status. Lender fees may apply.
What is car refinancing?
Car refinancing is the process of replacing your existing finance agreement with a new one.
For many drivers, this becomes relevant at the end of a PCP agreement when the optional final payment known as the balloon payment is due. Rather than paying this amount as one large lump sum, refinancing allows eligible customers to spread the cost over a new finance agreement.
It can also be an option if your financial circumstances have changed and you're looking for a repayment plan that's more suitable for your current budget. Call us on the number above to discuss a refinacing.
Keep your car by refinancing your PCP balloon payment
Reaching the end of your Personal Contract Purchase (PCP) agreement doesn't have to mean saying goodbye to your car or finding thousands of pounds to cover the final balloon payment.
If you're asking "Can I refinance my car?", the answer could be yes. At Car Loans UK, we help eligible customers explore finance options that allow them to spread the remaining balance into manageable monthly repayments, making it easier to keep the vehicle they already know and enjoy.
Whether you've owned your car for several years or simply don't want the hassle of starting another finance agreement on a different vehicle, refinancing could provide a practical solution.
With access to a panel of UK lenders and a simple online application that takes around 60 seconds, we'll try to help you explore the options available to you.
Car Loans UK is a credit broker, not a lender. Rates from 10.9% APR. Representative 21.6% APR (fixed).
Representative Example (Hire Purchase): Borrow £6,000 with £0 deposit over 60 months with a representative 21.6% APR (fixed). 60 monthly payments of £157.92. Final Option to Purchase Fee: £10. Total cost of credit: £3,485.20. Total amount payable: £9,485.20. Car Loans UK is a credit broker, not a lender. This is an example only; all finance is subject to status. Lender fees may apply.
How does refinancing work?
The process is designed to be straightforward.
Call us
Contact us by telephone on 0161 3580892 to discuss your refinancing arrangements. You'll speak to one of our friendly UK based team who will be happy to help.
We compare lenders
We'll assess your application and search our panel of lenders for suitable finance options based on your circumstances.
Review your offer
If you're approved, we'll explain the available finance options clearly, including your monthly repayments and agreement term.
Keep your vehicle
Once everything has been completed, your existing finance balance is settled and your new agreement begins, allowing you to continue driving your current car.
Why do drivers refinance their car?
Every customer's circumstances are different, but refinancing is often chosen for one simple reason—they want to keep the car they've already invested in.
Perhaps the vehicle has been reliable, suits your family's needs, or you've looked after it carefully over the years. Rather than starting again with another car, refinancing could allow you to continue driving it while spreading the outstanding balance over affordable monthly payments.
Customers also choose refinancing because it can:
Help spread the cost of a large PCP balloon payment
Avoid the need for significant upfront savings
Provide fixed monthly repayments
Remove the pressure of finding a replacement vehicle
Allow you to continue driving a car you already know and trust
Can I refinance my car with the same lender?
One of the most common questions we hear is "Can I refinance my car with the same lender?"
The answer depends on your finance provider.
Some lenders may offer refinancing to existing customers, while others may not. Even if they do, it's worth comparing alternative options before making a decision.
Applying through Car Loans UK means your application can be considered by multiple lenders through one simple process, giving you the opportunity to explore different finance solutions without completing numerous applications yourself.
Who can apply?
Every lender has their own eligibility criteria, but you may be able to apply if you:
Are aged 18 or over
Live permanently within the UK*
Have a regular source of income*
Can demonstrate affordability
Have an existing vehicle finance agreement approaching completion or requiring refinancing
*Applications are assessed individually, meaning finance approval will always depend on your personal circumstances and lender criteria.
Why choose Car Loans UK?
Refinancing your car should be simple, transparent and tailored to your circumstances. That's why Car Loans UK works with a panel of UK lenders, helping eligible customers explore finance options through one straightforward application rather than applying to lenders individually.
Whether you're looking to refinance your PCP balloon payment or keep your current vehicle for longer, our team is here to support you from application through to completion.
Our Blog
