Anyone ever re-financed a car?

[anonymous-user]

We have a BMW 330d Estate on Select Finance. The agreement ends in 5 months.

The car has been valued at £14,099.

I know Select is designed to keep you in a new car but we’re both happy with the car.

Questions about refinancing.

Can one change product e.g. enter a hire purchase agreement?

Has anyone done this and come away with a good offer?

Thanks

Edited by Super_G on Wednesday 13th December 12:48

[zedstar]

In 2015 when the PCP was up on our Audi the dealer called and asked what we were doing, we said we would probably refinance the balloon with Audi financial - the dealer then said he'd do the refinance and sorted it all out from their end. The rate was cheaper than any other I found. Process was seamless.

[Dimebars]

The GFV is set as per the contract you signed, so this is the amount you owe and need to re-finance

[pods]

We refinanced recently. We found it to be an easy transition. We were with land rover finance (FCA) called them discussed amount to be refinanced. Emails exchanged applications done and job,jobbed..This was the outstanding final payment or balloon. This figure had nothing to do with the GFV.

[anonymous-user]

Understood. Sorry about the mix up on the GMFV thing thrown in.

Thanks for the replies. Makes sense.

[mcflurry]

Toyota offered finance for my car's balance at 2.5% APR at the balloon point