Pay As You Go Car Finance

After being fitted by a specialist technician either under your dashboard or in your glove box, the box will connect to your vehicle’s internal computer and feedback information to your lender via GRPS signals.

Three days before your payment is due, the box will begin flashing red. After you have paid, you will receive a unique code to key into the box and the box will begin flashing green again until your next payment is due.

Once your agreement ends and all payments have been made, the box will be removed, and you will be granted ownership of the car.

Most lenders allow up to 30 days for you to find the funds to make your payment. However, if you are unable to pay after this period the black box will deactivate your car, making it impossible to drive.

Payment boxes give lenders more confidence in supplying those who have been previously been considered to be too risky with a car finance solution. They also give you the opportunity to build your credit rating by making payments on time, which could help you finance a car on improved terms and with lower rates in the future.

Yes, you can drive before your black box is fitted. Your insurance begins before your black box arrives, therefore you are covered from the moment that your policy begins, not from when your black box is installed.

Simply put, no. As the car is the property of the lender until all repayments have been made, you can only remove the payment box once the pay-as-you-go agreement has concluded.

A common misconception is that if you don’t keep up with paying off your loan or if you make a mistake on the road your box will shut your car down wherever you are. This is not the case - if you miss a payment the box wouldn’t disable the vehicle until you are safe, parked and your engine is off. The unit will also issue a warning noise and the light attached will flash red as it is about to turn off.