Refinancing a Used Car

[Uncraven]

Hi,

I have a 3yr PCP coming to an end soon and am looking at refinancing. The original dealer (Seat, so backed by VWFS) rates are indicated north of 11%pa.

Can anyone advise on how best to source financing for a vehicle I already own?

Note that I would normally personal loan it but I don't wish to borrow the lump sum unsecured for personal reasons. I'm indifferent on term for refinancing. If it makes any difference the car is a vanilla family SUV (Seat Tarraco).

Thanks in advance for any first hand experience or guidance!

[SKM1984]

Theres quite a few companies who do this, I was in contact with a company called magnitude finance about it recently

[Uncraven]

Thanks for this advice - I have then a try shrug it seems (and Charles & Dean seemed to confirm the same) that a lot of PCP providers have pulled out the market on used. I'm not sure why, but rates have become pretty dire. As it is a long term HP looks most reasonable albeit still at a strong 8.9% apr

[Chris Hinds]

I refinanced my previous X3 with Lloyds. Checked and their current nominal is 5.8% on HP