Switch & Save refinance your car

Switching loans means that you keep the same car but change finance providers. Doing this should save you money on your monthly payments and/or the total cost of the loan, by saving money on interest.

The beauty of it is you can do so at any time to make sure you have the best deal on your car finance, so it’s worth giving it a go!

Currently you can switch a hire purchase (HP) or personal contract purchase (PCP) car loan into our hire purchase loans. The benefits for you could be:

• Getting cheaper monthly payments on your loan
• Getting a cheaper total cost of the loan by paying less interest over time
• Refinancing a big balloon payment into a smaller more manageable monthly payments

We can offer you between £1,000 and £35,000 for terms between 12 and 60 months.

It’s likely if approved you’ll be able to save money on your monthly payment and/or total cost of the loan by switching. We’ll give you an estimate of how much money you will be saving once you get your quote, which doesn’t have an impact on your credit file.

You should bear in mind that if you extend your term to get a cheaper monthly payment, this may end up costing you more in the long run. We’ll talk you through how your offer works to make sure you fully understand it if this is the case.

When you switch your car loan to Zable you’ll keep the same car, but pay less for it. You can’t switch the car itself with this product.

Getting a quote will not impact your credit score as we only do a soft credit search. If you like the savings we offer you and choose to take out a loan, we will do a hard credit search which will most likely impact your score. However, once you start making payments on your switched car loan then your score should recover quickly, provided nothing else changes with your credit situation.

Provided you are approved on your initial quote, which doesn’t impact your score, then there is a high likelihood of final approval pending some application checks. Your savings figures will be locked in once we get the settlement quote from your existing lender so you’re adequately informed before finalising the switch.

Many customers have completed the application in under an hour from start to finish. Once we’ve reviewed your application, over 25% of customers have their switch confirmed on the same day as they began the application!

This can sometimes take a little longer if you have issues finding your settlement letter with your existing lender, but we talk you through this process to make it as easy as possible. Once your application is approved, we send the money to your existing lender immediately - but it can take them up to a week to apply this payment and close your account.

No, we take care of this for you to make life as easy as possible for you.

We don’t charge you any fees for switching and the majority of lenders won’t charge you a fee for settling early either. We do charge a loan fee, which is included in your APR.

This number is wrapped up into your monthly payment and total cost savings that we show you, so it’s clear when switching will save you money.