Job Loss Payment Waiver

Job Loss Payment Waiver

What is Job Loss Payment Waiver?

 

Job Loss Payment Waiver provides you with peace of mind and security. Included free of charge within your Vauxhall Finance agreement. If you become involuntarily redundant during the first 12 months of the Agreement then you can ask for a payment waiver of up to 6 monthly repayments.

How to qualify for a Payment Waiver

 

If, during the first 12 months of the Agreement, you have been in continuous employment (i.e. 16 or more hours each week paying class 1 National Insurance) with the same employer, or not more than two employers, for at least six months before you entered into the Vauxhall Finance agreement, Vauxhall Finance will waive your obligation to pay up to 6 of your monthly repayments.

 

Following the waiver of 6 monthly repayments, if you continue to be unemployed involuntarily, you may choose to terminate this Agreement and return the Vehicle. If you choose to do so, Vauxhall Finance will waive any further sums due (subject to certain exclusions).

Job loss Payment Waiver features & benefits:

 

  • Included within your Vauxhall Finance agreement completely free of charge
  • Option of waiver is granted during first 12 months of Vauxhall Finance agreement
  • Provides the ability to waive financial liability of the monthly payment in the event of redundancy
  • Reduced financial pressure whilst finding new employment 
The vehicle will remain with you while payments are waived.