What is a Payment Waiver?
If you are a private customer and take out a Personal Contract Purchase or Conditional Sale contract, Payment Waiver will provide you with peace of mind and security. Included within your contract, Payment Waiver allows our customers to waive up to six monthly instalments in the event of certain circumstances such as redundancy.
How to qualify for a Payment Waiver
We know unemployment can cause many concerns for people when considering a financial commitment. Our Payment Waiver will cover you if you are made redundant through no fault of your own, waiving up to six monthly instalments, which you will never have to repay.
Should you still be unemployed after we have waived your six-monthly instalments, you will be given the option to hand back your vehicle and walk away from your agreement without any further financial liability, on the basis that your account is not in arrears. You can also pay off any outstanding arrears and still be entitled to walk away. Excess mileage and/or damage charges may apply.
Payment Waiver features & benefits:
- Included within your contract for both new and used vehicles
- Ability to waive financial liability in the event of redundancy
- Reduced financial pressure whilst finding employment
- The vehicle will remain with you during the 6 month payment break
Terms & Conditions
No waivers are granted in the first three months of an agreement; monthly payments need to be up to date and the agreement holder needs to have been in continuous full time employment six months prior to being made redundant. Excess mileage or damage charges may apply
Payment waiver does not cover balloon payments. Terms and conditions apply to these payments.