This service is currently only available to Private Individual Commercial Vehicles Finance customers



Please login / register here:

FAQs & Glossary

Details and useful facts

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

Option to Purchase fee (OTP)

At the start of the finance Agreement the ownership of the vehicle is given to the finance company who in turn 'hires' the car to the customer. At the end of the Agreement the customer has the option to purchase the car from the finance company for a nominal sum, called the 'option to purchase' fee. It is this fee that legally transfers ownership from the finance company to the customer. Once the option to purchase fee has been paid, usually with the final instalment (together with all the other repayments due and payable under the terms of the Agreement), legal title to the vehicle will pass from the finance company to the customer.

Optional Final Payment

Optional Final Payment is the deferred final payment on 'Purchase' agreements.

Outstanding Balance

Payments or rentals which are outstanding at any given time.