Electric battery Earn £175 per month from your EV!
BMW i3 wrapped in adverts

RCI Banque and loan

Hi there
I’m a quite happy italian twizy owner. I bought it just before easter and I’ve runned for more than 2000km, wiht only one break down: the power converter… But this is another, well known history.
Now I’d like to share my nice experience with RCI banque. here in Italy, but i think as well in UK, you can get a loan with RCI banque, the Renault bank. Now I’ve sold (sigh!) my precious motorbike and I’d like to make a partial cash refund. They told me that it’s not possibile, they only accept a fully payment to close the loan. But in the contract is written something different. How is the situation over there?

Welcome to the UK Twizy Owners.

I am sorry but I cannot help with your question as I didn’t take out a Renault loan to buy the car as it was not such a good deal at the time.

Generally in the UK for car finance, which is basically the loan secured by the vehicle, there is no provision for partial repayment. You pay back all of it or just keep up the repayments.
There are specific amounts at which point the vehicle can not be repossessed without a court order and another where you can just hand back the vehicle without further payment.
But otherwise you are tied in for the duration except for paying the settlement figure in full.