PSA Finance Payment Waiver
Offering the option to waive your finance payments for 6 months in the event of job loss and other circumstances
What is a Payment Waiver?
If you are a private customer with a Personal Contract Purchase, Conditional Sale or Personal Finance Lease contract, Payment Waiver is included as standard within your contract. This allows our customers to waive up to six monthly instalments, in the event of certain circumstances such as redundancy.
6 Month Payment Waiver Features & Benifits:
- Provided as part of your finance agreement, completely free of charge.
- Valid for the full length of your car finance package.
- Peace of mind that your monthly car repayments will be covered should you lose your job, meaning reduced financial pressure while searching for new employment.
How to qualify for a Payment Waiver?
We know unemployment can cause many concerns for people when considering a financial commitment. Our Payment Waiver will cover you if you are made redundant through no fault of your own, waiving up to six of your regular monthly payment, which you will never have to repay, we will pay them for you. However there are certain conditions that you will need to meet.
Should you still be unemployed after we have waived your six of your regular monthly payments, you will be given the option to hand back your vehicle and walk away from your agreement without any further financial liability, on the basis that your account is not in arrears. You can also pay off any outstanding arrears and still be entitled to walk away. Excess mileage and/or damage charges may apply.