Covid 19 Update 2nd July 2020

If the current coronavirus [COVID-19] situation continues to temporarily affect your ability to make payments on your loan we would like you to know that Car Cash Point continues to offer its customers continued support and options throughout this difficult period.

If you have already received a payment deferral or entered into a temporary payment arrangement and this payment deferral or arrangement is now coming to an end, please see below the options now available to you:

Resuming your Contractual Payments and/or Agreeing to a Repayment Plan

If you are now able to resume contractual payments on your account it would be in your best interest to do so.

If you would also like to begin repaying the outstanding deferred payment/s Car Cash Point is able to offer you the following repayment options:

  • Agree an affordable amount of your choice to repay, in addition to your contractual repayment.
  • If it is more suitable to do so, you are also able to split the outstanding deferred payment/s so that you are able to repay them over the remaining term of the agreement.
  • You can request an extension to the term of your agreement in order to allow you further time in which to repay your deferred repayment instalments. Extending your agreement beyond its contractual term will not result in any additional interest being added to your account.

Unable to Resume Full Contractual Repayments

If you are still facing temporary payment difficulties as a result of coronavirus and are unable to resume your full standard contractual repayment, Car Cash Point is able to offer you the opportunity to pay a reduced amount of your contractual repayment instalment at a level you believe you can afford for a period of up to 3 months. If you are able to make even a reduced repayment it would be in your best interest to do so.

Further Payment Deferral

If you are still facing temporary payment difficulties as a result of coronavirus and unable to afford to make any repayments on your agreement with Car Cash Point, you are now able to request a payment deferral for a further period of up to 3 months.

Please note that you will still be liable for any missed instalments and interest accrued during this period. You should remember that deferring repayment instalments may not be in your best interest. It may result in increased repayments in the longer term, so you should think carefully before entering into one of these arrangements and only use it if you need immediate and temporary financial assistance. If you can afford to make some repayments at this time, even if it is a smaller amount than usual, you should do so.

We would also like to reassure you that Car Cash Point will not share any negative information with Credit Reference Agencies due to any agreed payment holidays or deferrals due to the impact of Covid-19.

Please also note that there are various government schemes to assist you during these difficult times as well as clear guidance and advice on help to keep safe and well; for further updates and information please see https://www.gov.uk/coronavirus

We appreciate that these are difficult times and that the unknown is causing stress and anxiety for many. We fully empathise and are taking the time to appreciate each individual circumstance in order to provide the best solution for you.

If you continue to be affected and would like to discuss your option or need help, please get in touch by calling our office 0333 5774444, or sending an email to your personal account manager directly or to the team at collections@carcashpoint.com.

As the situation in the UK changes, we will continue to look at what we can do to support you.

For free and impartial debt advice you may wish to contact the not for profit organisation https://www.moneyadviceservice.org.uk/en

Covid-19 Announcement

We fully understand that you may be worried about coronavirus [COVID-19] and what it might mean for you and your finances. We want to reassure you that we're here to help.

We are committed to helping every one of our customers during this difficult time. We know that this is creating some very challenging situations and we are here to help you to the best of our ability.

Please also note that there are various government schemes to assist you during these difficult times as well as clear guidance and advice on help to keep safe and well; for further updates and information please see https://www.gov.uk/coronavirus.

We appreciate that these are difficult times and that the unknown is causing stress and anxiety for many. We fully empathise and are taking the time to appreciate each individual circumstance in order to provide the best solution for you. With this in mind we have set out some of the options available to support you through both the short and long term.

  • If your income has been affected by the current situation, we can explore a range of plans and options with you, including but not limited to:
  • Payment deferrals for up to three months.  We may either agree a repayment plan at the end of the payment deferral, or you may defer the payments to an agreed later date and possibly beyond your current loan term if that is more suitable for you.
  • Reduced instalment repayment plans with additional support when you need it.

There will be no fees for missed payment on your loan during this agreed period.

Please note you will still be liable for any missed instalments and any interest accrued during this period. You should remember that deferring credit repayments may not be in your interests. It may result in increased repayments in the longer term, so you should think carefully before entering into one of these arrangements and only use it if you need immediate and temporary financial assistance. If you can afford to make some repayments at this time, even if it is a smaller amount than usual, you should continue to do so.

We would also like to reassure you that Car Cash Point will not share any negative information with Credit Reference Agencies due to any agreed payment holidays or deferrals due to the impact of Covid-19

If you are affected and need help, then please get in touch by calling our office 0333 5774444, or sending an email to your personal account manager directly or to the team at collections@carcashpoint.com.

As the situation in the UK changes, we will continue to look at what we can do to support you.