Want to end your agreement early?
If you’re ready for a change earlier than you expected, you can end your agreement early at any time by paying the settlement figure.
Obtaining a settlement quotation
You can obtain a settlement figure by logging into your MyALPHERA Finance account or calling our Customer Service Centre on 0370 5050 125.
Withdrawing from your finance agreement
Depending on your agreement type, you might be able to withdraw from your finance agreement within 14 days of signing, by paying back the balance financed, plus any interest. You’ll need to make this payment within 30 days of notifying us. Once we’ve received the notification, we can’t reverse the transaction.
Under the Consumer Credit Act 1974 you have the right to end your agreement and hand back the vehicle at any time before your last instalment is due. You must pay at least 50% of the total amount payable under the agreement, minus sums that you have paid and sums that are due.
If you choose to voluntarily terminate your agreement, you’ll need to pay for any excess mileage or damage deemed to be outside of fair wear and tear.
Your end of agreement options
I’d like to choose another vehicle, what should I do?
The easiest way to drive away in a new car or motorcycle is to part exchange your current vehicle*. Simply visit your local ALPHERA Partner who’ll be able to explain the options available and give you all the help you need to find the right vehicle and financial solution for your individual needs.
I’d like to keep my vehicle, what should I do?
With ALPHERA Select and ALPHERA Hire Purchase, you make your final payment, including the option to purchase fee, and the vehicle is yours to keep**.
Can I keep the vehicle and reschedule my final payment?
If you have an ALPHERA Select agreement, it may be possible to reschedule your final payment subject to our underwriting criteria. First of all, please speak to your local ALPHERA Partner. Restrictions around term and mileage will apply.
I’m returning my vehicle, how do I arrange collection?
At least 10 days before the end of your contract date, call us on 0370 5050 125 to arrange a date for the inspection and collection of your vehicle.
You’ll be charged a daily fee if your car or motorcycle hasn’t been collected by its end of contract date. You must also have made all monthly payments*** under the agreement to secure collection.
Our appointed logistics company will inspect your vehicle and you will be charged for any damage that falls outside of the British Vehicle Rental and Leasing Association (BVRLA) ‘Fair Wear and Tear Guidelines’, click here for a copy.
If you’re an ALPHERA Select customer, you’ll also need to send us the V5C and MOT certificate at least seven days before the collection date. Please retain section 9 of the V5C, as you’ll need to complete and send to the DVLA once the vehicle has been collected.
I’m handing my vehicle back but I’ve exceeded my mileage, what happens next?
You’ll be charged for the excess mileage rate shown in your agreement and will be invoiced for this amount once the vehicle has been returned. This invoice is payable immediately.
I have a personalised number plate and am returning the vehicle, what should I do?
If you’d like to keep the plate, please call the DVLA on 0300 790 6802 to obtain a retention certificate. You’ll receive a new V5C and must then fit the new plates at your own cost. This process can take up to eight weeks, so please allow plenty of time before the end of your agreement.
I'm an ALPHERA Contract Hire customer
With ALPHERA Contract Hire, you enjoy hassle-free motoring. At the end of your agreement, we’ll write to you reminding you that your hire period is due to end soon, and we’ll arrange for the collection of your vehicle†. You can then choose to hire another vehicle through your local ALPHERA Partner††. ALPHERA Contract Hire is not available on used vehicles. We remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
I'm an ALPHERA Hire Purchase customer
ALPHERA Hire Purchase is a simple and straightforward way to purchase your vehicle. We’ll write to you to remind you that your agreement is due to end soon. Simply make the final payment, which includes the Option to Purchase Fee if applicable, and providing that all other payments have been made, you will become the owner of your vehicle^. If you pay by direct debit, this amount will be debited automatically from your account on the agreement end date.
Returning your vehicle
When returning your vehicle, there are a number of things that you will need to do before the collection date. This section details the returns process and has guidance on what damage is deemed ‘fair wear and tear’.
Preparing for your inspection
At least 10 days before the end of your contract, please call us on 0370 5050 125 to book your vehicle's inspection. Our logistics company will carry out your vehicle's inspection, checking for damage that falls outside fair wear and tear guidelines. They will also record the mileage so we can check this against the contractual mileage limit on your finance agreement.
Preparing your paperwork
If you have an ALPHERA Select Agreement, we will require you to send back the V5C to us in order to pass ownership of your vehicle to us, but not before detaching Section 9 of the V5C.
Prior to the collection date you can either send Section 9 of the V5C back to the DVLA or complete the notification online to the DVLA, so they know you are no longer the registered keeper of the vehicle. It's important that when prompted, you select the vehicle has been passed back to the "Motor Trade". When the DVLA receive this they will automatically refund any unused road fund tax back to you. At the same time you must send the rest of the V5C document back to us at our free post address. Just include your V5 in an envelope, writing the address as “FREE POST, VEHICLE ADMIN” on the front of the envelope and post back to us. That may seem short, but please trust it will get back to us.
If you are unable to find your V5C, you can request a duplicate online. If we have not received your V5C by the date your vehicle is due to be collected, you will be invoiced £100 for the loss in value of us selling a vehicle without a V5C.
If you have an ALPHERA Contract Hire agreement we will manage this process for you.
Before the collection:
Please review the damage videos below and Damage Charge Matrix to ensure that you are aware of the kind of damage that may incur a charge.
If your vehicle has been involved in an accident, you should have it repaired under your motor insurance policy before returning it to us. Any repairs must be in accordance with the manufacturer’s recommendations and you must tell us about any accident damage you've had repaired during the agreement.
You will need to ensure your vehicle is taxed, insured and has a valid MOT, where appropriate, up until the point we collect it.
ALPHERA return standards
To help explain what is deemed fair wear and tear we have produced a film to explain the rules and give examples of the kind of damage you may not be charged for.
If you are concerned that your car has damage that you may be charged for, please refer to our Damage Charge Matrix for an indication of the potential charges.
On the day of collection:
The vehicle collection includes a 'fair wear and tear' inspection carried out by a trained inspector. It is important you are present when your vehicle is inspected, as you will need to sign the report to confirm that you agree to the vehicle's return condition.
Please ensure your vehicle is clean, road legal, contains a minimum of a quarter of a tank of fuel and is parked with plenty of space around it for the inspector to complete their assessment. The full service history should be placed inside the vehicle along with spare keys, the key to any lock in wheel nuts and any other items that came with your vehicle.
After the vehicle collection:
Once we receive the vehicle inspection report, we will check if the mileage on your vehicle has exceeded the agreed limit. If it has, you will be invoiced at the pence per mile stated in your finance agreement.
We will also review any damage detailed on the inspection report and raise an invoice for anything that falls outside of the British Vehicle Rental and Leasing Association's (BVRLA) Fair Wear and Tear Guidelines.
If your vehicle was returned after the contract end date we will also charge you a daily rate (your original monthly payment pro-rated).
Personalised number plates
If you have a personalised number plate you’d like to keep, follow the steps below for your type of finance agreement.
If you wish to retain your personalised number plate, use the DVLA’s online service to obtain a new V5C and your plate retention certificate or call them on 0300 790 6802. Send us your new V5C and change the plates on your vehicle to reflect the new registration.
ALPHERA Contract Hire:
If you would like to keep your personalised number plate you will need to complete a V317 application form.
Once completed please return the V317 and the plate retention fee to: ALPHERA Contract Hire, PO Box 1294, Boongate, Peterborough, PE1 5AH. An administration charge of £14.40 will also become payable once the process has been completed.
If we don’t receive anything from you and your personalised plate is still on your vehicle when it is returned, we will assume you are happy for it to be sold with your vehicle.
Inspection preparation and damage explainer videos
Before it’s time to hand your car or motorcycle back, take a look at these short videos for a guide on what you need to do.
Tyres and wheels
Windscreens and chips
Mirrors and lights
Dents and scratches
Terms and Conditions
*If you part exchange the vehicle for a new one, any surplus in the vehicle’s part exchange value over the optional final payment (and option to purchase fee) can be used as a deposit towards your new vehicle.
**The optional final payment (together with an option to purchase fee if applicable) are payable at the end of the agreement if you decide to purchase the vehicle. We remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
***If the vehicle’s value is less than the optional final payment, you can hand it back to us without paying the optional final payment. However additional charges may be payable for both excess mileage (actual mileage higher than agreed contract mileage) and vehicle condition (using the standards set by the British Vehicle Rental and Leasing Association BVRLA vehicle condition guide). If your agreement is regulated by the Consumer Credit Act, this contractual option will be in addition to your statutory right to end the agreement early. Finance is subject to status and available to over 18s in the UK only. Guarantees and indemnities may be required. Finance is provided by ALPHERA Financial Services, a trading name of BMW Financial Services (GB) Limited, Summit ONE, Summit Avenue, Farnborough, Hampshire GU14 0FB.
†If the rate of VAT changes during the hiring period, ALPHERA Financial Services may change the rental charges. The amount of VAT you can reclaim depends on your businesses VAT status.
††Additional charges may be payable for both excess mileage (actual mileage higher than contract mileage) and vehicle condition (British Vehicle Rental and Leasing Association Standards). Hire is subject to status and available to over 18s in the UK only. Guarantees and indemnities may be required. Hire is provided by ALPHERA Financial Services, a trading name of BMW Financial Services (GB) Limited, Summit ONE, Summit Avenue, Farnborough, Hampshire GU14 0FB.
^Provided you have made all of the necessary payments due under your agreement, including an option to purchase fee at the end. Please note, we remain the owner of the vehicle during the agreement and we may become entitled to recover the vehicle if you do not keep up your repayments.
Finance is subject to status and available to over 18s in the UK only. Guarantees and indemnities may be required. Finance is provided by ALPHERA Financial Services, a trading name of BMW Financial Services (GB) Limited, Summit ONE, Summit Avenue, Farnborough, Hampshire GU14 0FB.
The easiest way to manage your motor finance
With the MyALPHERA Finance portal, you’ll find all the help you need to manage your finance agreement, whenever you need it. Register today for self-service access to a wide range of functionality…
- Amend your details
- Select a different payment date
- Make partial early repayments
- Request a settlement figure
- Find out what happens at the end of your contract
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