This means if you are made redundant involuntarily, we will agree to waive up to six of your monthly repayments (excluding any arrears), allowing you to keep your car and protect your credit rating. There are no hidden costs and you are not required to pay back any waived instalments.
Payment Waiver starts 30 days after the date of involuntary redundancy. Should you still be unemployed after we have waived six monthly repayments, we’ll also give you the option to hand your vehicle back and walk away from your contract with nothing further to pay. Any payment waived will never have to be repaid.
Once we have granted you Payment Waiver, you don’t need to worry about the installment for that month – we’ll pay it for you and you won’t need to pay it back. To take advantage of Payment Waiver, you’re required to have been in continuous full time employment for six months prior to being made redundant, and your repayments will need to be up to date.
Terms & Conditions
Available to retail customers only. We will not waive any instalments if you are made redundant in the first 3 months of your agreement. To make a request for payment waiver you must have been in full time continuous employment for at least 6 months prior to the request and your account will need to be up to date at the time of unemployment. We will not waive any arrears, balloon payments, excess mileage, damage or service costs.