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Are you nearing the end of your loan and wondering what comes next? Whether you’re ready to pay it off or craving that new car feeling, our dedicated team of finance specialists is here to help — so you can move forward with confidence.
Balloon/residual value refinancing
If your car loan/lease includes a balloon/residual value payment (or final repayment) this will be due on the last day of your loan term.
Here are your options:
Consumer and Commercial customers
1. Upgrade your car*
Thinking about upgrading your ride? You can discuss with your dealer the options to either:
- Trade in your current car and upgrade to a different one; or
- Keep your current car and buy a new one.
2. Refinance your balloon payment or final repayment amount*
Keen to keep your car? – If you’d prefer to spread the balloon or final prepayment amount over a new loan term, our Driver Finance team can help you explore refinancing options*
Whichever path you choose, we’ll provide an indicative finance quote and guide you through paying off your current loan and applying for a new one with us.*
Novated customers
Under your lease, you need to return the vehicle and pay the residual value, along with any remaining amounts owed under your lease.
Once the vehicle is sold, we will pay you the lesser of:
- the market value we receive from the sale (minus any selling costs), or
- the residual value.
For more details, please refer to your lease agreement.
Want to keep your vehicle? Here are your options
1. Buy your current vehicle
If you’d like to keep your vehicle, simply contact our Customer Care team and we’ll provide your current payout figure so you can purchase it outright.
2. Refinance the residual value or upgrade your vehicle
- If you’d prefer to spread the residual value payment through a new novated lease, or upgrade to a new vehicle under a novated lease, please reach out to your salary packaging provider.
- If you are no longer eligible for a lease, our Driver Finance team can help you explore other refinancing and finance options.^
We recommend seeking independent financial advice to fully understand the implications of moving from a lease to a loan.
Guaranteed Future Value customers
Thanks to the Guaranteed Future Value (GFV) agreement you entered into, you have a range of flexible options to choose from – whether you’d like to keep your car, return it, or trade it in. Whatever you decide, we’re here to support you every step of the way.
What you need to do:
- Decide early: If you plan to return your car and use the GFV option, please let us know at least 30 days before your loan ends.
- Get your car inspected: Book an inspection with your dealership. Your car needs to meet our Fair Wear and Tear Guidelines.
- Read your GFV agreement: It outlines the steps involved and explains circumstances where the GFV amount may be adjusted.
Here are your options:
At the end of your term, you can proceed in one of the following ways:
1 .Trade in and upgrade your car
If you’re thinking about trading in your current car for something new, you can chat to your dealer about trade in options. If you’re considering finance for the new car, our Driver Finance team can support you.*
2. Keep your car
You can choose to keep your car by either:
- Paying the final balloon or final repayment amount by the due date; or
- Refinance the balloon or final repayment amount if you’d prefer to spread the amount over a new loan term. Our Driver Finance team can help you explore refinancing options.*
3. Return your car
If you’d like to return your vehicle to us:
- Please book an inspection with your dealership before returning the car.
- Your car must meet our Fair Wear and Tear Guidelines. If it doesn’t, or if you’ve exceeded your kilometre allowance, the GFV may be reduced, unless you choose to pay for any necessary repairs beforehand.
- If the GFV is reduced, you’ll need to pay the difference between the adjusted GFV and your final repayment amount as shown in the table above.
It’s important to note that because the GFV agreement is separate from your loan, you still need to make all your loan repayments, even if you use the GFV option. Under the GFV agreement, the GFV amount we pay you will be applied towards the loan balance. The GFV amount won’t be used to offset any other unpaid loan repayments owed by you to us under your loan contract, they must be settled separately.
New car loans
Looking for your next car? We can connect you with one of our many trusted dealer partners nationally to help you find the right brand and model to suit your needs.
Contact us
If you have any questions, please don’t hesitate to reach out — we’re here to help.
Email: driverfinance@angleauto.com.au or call us on 1300 291 063 between 9AM – 5PM AEST.
Important information:
*If you choose to upgrade and finance a new car or refinance your balloon payment or final repayment amount, you’ll need to submit a new finance application, which is subject to credit assessment and our lending criteria.
^If you choose to refinance your residual value or final repayment amount or apply for a new loan/lease, you’ll need to submit a new finance application. All applications are subject to credit assessment and our lending criteria.