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FAQs & Glossary

Details and useful facts

We have constructed a wide ranging Help section and alphabetical Glossary to assist online by speedily finding information.

Balanced Fee

A 'balanced fee' is the 'acceptance fee' that is deducted from the initial repayment rather than being paid in addition to the first instalment.

Balance Financed

Balanced Finance the amount you need to finance – usually the price minus any deposit or deposit allowance.

Balloon payment

A Balloon Payment is a deferred lump sum payment due at the end of a car finance agreement, this is typical in PCP (Personal Contract Plan) and some other agreements. The optional final payment amount is agreed up front by VWFS – by deferring payment of this amount until the end of the agreement, the monthly repayments are significantly reduced. You can then make the optional payment at the end of the agreement to purchase the car.