FAQ’s

How is my settlement figure calculated?

Settlement figures are calculated based on the outstanding balance of your agreement at the time the figure is requested. We take the outstanding balance and we apply an interest rebate in accordance with the guidelines set out for us by the Consumer Credit Act.

Would my quote be any cheaper if I settled before the expiry date?

No, when you request a settlement figure from us your agreement is in effect frozen for 28 days. The rebate of interest that is applied to calculate your settlement figure is based on the date you made your request and would not reduce further within the validity period.

What if I make my settlement payment after the expiry date?

If you are not able to pay the settlement figure by the expiry date, you will need to generate a new settlement figure, which will then be valid for the following 28 days.

Does the settlement figure include my next Direct Debit?

The settlement figures you are provided with takes into account all payments made up until (and including) the date the figure was generated, as long as they are honoured by your bank. Any payments made to your agreement after the settlement figure was generated will be refunded to you, providing full settlement is received before the expiry date.

Why do I have to give you a reason for generating a settlement figure?

We request a reason for the settlement figure request for information purposes only.

Can I have a future dated settlement figure?

We do not provide future dated settlement figures as they are based on the outstanding balance of your agreement. The outstanding balance of your agreement depends on how your monthly payments are maintained, which is very difficult to accurately predict. Our settlement figures are, however, valid for 28 days.

VIEW ANNUAL STATEMENT

Why is my closing balance different to my settlement figure?

The closing balance on your annual statement takes into account all interest payable in your agreement should the agreement run the full term. Your settlement figure will be based on your outstanding balance minus a rebate of interest.

May I have an updated statement?

Your statements are automatically generated every 12 months, should you require a more up to date statement; please contact our customer services department.

cLEARANCE

Why can’t I obtain clearance?

Before we can issue clearance on an agreement or remove our interest in your vehicle, we have to allow the appropriate amount of time for your payment to clear. The clearing periods are as follows:

CHAPs/Faster Payments: Instant Cleared Funds
Debit Card: 3 working days
BACs/Bank Transfer: 5 working days
Direct Debit: 5 working days
Cheque: 10 working days

I am due a refund – how long will this take to be processed?

We have to make sure that all payments received onto your agreement have cleared before we can issue any refunds. We work to ensure that any overpayments on your agreement will be refunded and available in your account no later than 14 working days from the date your agreement was settled.

oTHER

Why can’t I update my registration plate through the self service portal?

Any amendments to vehicle information is required to be updated with HPI (Hire Purchase Index), our self service portal currently doesn’t have the functionality to communicate with the HPI database to make these changes. Should you wish to amend your registration number, please send a copy of your V5 document to our service centre either by post to P O Box 4465, Slough, SL1 0RW, by email to service-centre@ca-autobank.com or by fax to 01753694150.

How can I partially settle my agreement?

Should you wish to make a partial settlement payment, you will first need to contact our service centre department for a quote on how your one off payment will affect your monthly payments.

Am I able to increase my monthly payments?

We do not enable customers to increase their monthly payments, however, we can accept a number of one off payments onto the agreement as a partial settlement. This means that your monthly payments will reduce, and interest rebate will be generated. Should you wish to discuss a partial settlement, please contact our service centre department.

Am I able to take my vehicle abroad?

Under the terms and conditions of your agreement, you will need to obtain authorisation from us as the finance company before you take your vehicle abroad. If you would like to take your vehicle abroad, please contact our service centre department to discuss.

How do I find information on my end of contract options?

Depending on the kind of agreement you have with us, you will receive written communication from us 6 months prior to the end date of your agreement, which will document in full the options that are available to you at the end of your agreement. Further contact is made with customers from our end of contract department within the last 3 months of your agreement in order to discuss these options. Should you have any queries in relation to your options, please contact our End of Contract Department on 0344 561 4997.

makE a payment

How quickly will the payment show on my finance agreement?

The payment will show on your agreement immediately.

Are payments made via this website refundable?

Payments made using this website are non-refundable. If you wish to discuss a payment you have made in more detail please contact our Collections Team on 0344 561 4738 (Option 1).

Can I pay more than my arrears?

Not using this service, please contact our Collections Team on 0344 561 4738 (Option 1) to discuss future payments on your agreement.

I am struggling to make the full payment of arrears – what options are open to me?

Please contact our Collections Team on 0344 561 4738 (Option 1) to discuss your circumstances and repayment options that may be available to you.

Is there any charge attached to using this service?

You will not be charged for using this service.

When can payment be made?

This service is occasionally unavailable for maintenance purposes, if you wish to make a payment while maintenance is in progress you can visit our dedicated payment site at www.caafpayment.co.uk which is available 24 hours a day.

Will making payment using this service be secure?

Yes we use WorldPay Secure payment service to administer your payment.

marketing information

I am thinking about buying another vehicle, what are the current offers?

The details of our offers are available on www.ca-autofinance.co.uk.

What are the options at the end of my agreement?

It depends on the current product you have:

For Personal Contract Purchase (PCP) or Advance Payment Plan (APP) you have three options:

• Part-exchange your car: We aim to ensure that your final payment should be less than the actual value of your car. This means you should have some equity to put towards your next car.
• Return the car: You can simply hand back the car and the keys and walk away. You’ll just need to make sure that you haven’t gone over your agreed mileage and your car is in good condition. Of course, we allow for the normal wear and tear of daily use. It’s in your interest to keep your car looking its best inside and out.
• Keep the car: All you need to do is pay the outstanding amount (balloon payment) and you can keep the car. You can choose to pay this with a loan which can be spread over 12 tor 36 months. All loans are subject to credit approval.
• For hire purchase, once you have paid your final payment, including any the option to purchase fee, you own your car outright.

What details do you need to set up a new agreement?

To arrange a quotation and proposal for a new agreement, please contact your local dealer. For the finance proposal you will be required to provide information about your personal details, employment details, bank details and also you will need a proof of your identity such as a driving licence.