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Important information: To apply for car finance you’ll need to be age 18 or over, a UK resident, hold a personal current account with us (min three months) and be registered for internet banking. Credit is subject to status and additional affordability checks. 

What is car refinancing?

Car refinancing is the process of taking out a new finance agreement to pay off the outstanding balance on an existing car finance loan, usually with a new lender.

To find out more about what car refinance is and how to switch to us, watch our short video.

Watch our video to understand more about car refinance.

Why refinance your car with the Halifax?

  • With your car finance, you can pay off an existing car finance agreement with another provider
  • Switch to a new Personal Contract Purchase (PCP) or Hire Purchase (HP) agreement, borrowing amounts are available at different rates
  • When you refinance with us, we'll make a one-off payment directly to your provider to settle the agreement

Log on for a quote

Get a personalised quote in minutes. Get as many quotes as you like with no impact to your credit score.

Get an instant decision

Tell us about the car and which finance option you'd prefer to get an instant decision. 

Switch your finance

Upload or email us your final settlement figure and we'll switch you over to your new agreement with the Halifax.

Get a personalised quote in minutes with no impact to your credit score

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How can car refinancing help me?

Switching your existing car finance onto a new agreement could be ideal if:

  • you want to keep your car and spread the cost of the final, balloon payment
  • the new finance is at a lower APR, so you can pay less each month
  • your personal circumstances have change and you want to change your monthly repayment amount or term.

Keep in mind: if you change to a longer term when you refinance, the total amout payable could go up. You'll need to consider the terms of your current car finance agreement as well. 

Halifax is a division of Bank of Scotland plc. Registered in Scotland No. SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ. Bank of Scotland plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 169628.