Simple loans for balloon payments

Can't cover your PCP balloon payment? You don't have to give up your car.
Find out if you're eligible in just 3 minutes.


How does it work?

A balloon payment is the lump sum at the end of your PCP car finance deal (a type of secured loan). Once you've paid it, you can keep the car.

Coming up to the end of your PCP deal but don't have the money you need to cover the balloon payment? You could finance it with a balloon payment loan from Zopa.


Find out if you're eligible

Tell us about your balloon payment and personal circumstances.


Apply for the loan

It's quick and simple to apply online. No fuss, no paperwork through the post.


We pay the balloon for you

If approved, we will use your Zopa loan to settle the balloon payment with your current lender. That's the end of your PCP agreement with them.


You pay off your Zopa loan

You pay off your Zopa loan in monthly instalments - until you own the car outright.

3 times Personal Loan Provider of the Year (Moneyfacts, 2014 to 2016)

Best Personal Loans Provider (MoneySuperMarket, 2016)

7 times Most Trusted Loan Provider (Moneywise Customer Service Awards, 2010 to 2016)

Eligibility checklist

You should

  • Be over 20 years old
  • Earn at least £12,000 per year
  • Have a balloon payment of £1,000 or more
  • Have a record of repaying debts
  • Not have an existing Zopa loan

Your car should

  • Be no older than 10 years
  • Be in good shape for its mileage
  • Have a balloon of at least £1,000
  • Be registered in the UK to your name
  • Not be a fleet car or a taxi

See if you’re eligible in 3 minutes



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Frequently asked questions

Everything you need to know about Zopa balloon loans

Will this impact my credit score?

No, checking your rate for a Zopa loan won't impact your credit score. There's no downside to seeing if you're eligible.

If you choose to apply for the loan, this will leave a footprint on your credit file (the same is true for all credit providers). Don't worry, we'll tell you before this happens.

Do I need to pay the balloon payment myself?

No - if your Zopa loan is approved, we'll use it to pay your current finance provider on your behalf. This will settle your balloon payment. After that, you'll repay your Zopa loan by Direct Debit.

How long will it take?

It takes just 3 minutes to find out your personalised rate for a Zopa balloon payment loan. This won't affect your credit score.

If you choose to apply for the loan, we aim to give you a decision within 3 working days.

If your loan is approved, we use the money to pay off the balloon payment with your current finance provider within 2 days.

What about my car dealer?

We don't contact your dealer at all, and you don't have to contact them either. If your loan's approved, we'll pay off the balloon on your behalf. Your car dealer does not need to be involved.

They may get in touch with you before your balloon payment is due to talk about your options. Feel free to tell them about the rate we can offer you.

What do you mean by "secured loan"?

Your PCP finance deal is secured against the car, and the same would apply to a Zopa loan. Securing the loan against your car means we may be able to offer you a better rate than you'd get for an unsecured loan. Our representative APR is 9.9%.

What about warranties?

When you originally bought your car, your dealer and finance provider provided you with warranties as part of that deal. These warranties may or may not continue. Please check your original loan documents to find out more about this.

A Zopa balloon payment loan is a new loan. There are no warranties associated with this balloon payment loan. If something did go wrong with your car, you should contact your original dealer to see if you're covered by any of the original warranties.

What loan terms do you offer?

Currently we offer 12, 24, 36, 48, or 60 months and are working on offering even more terms to get even closer to your desired payment. Stay tuned!

Where can I find more information about car finance?

To learn more about car finance, you can find impartial information (among many other places) on the Money Advice Service website and the Citizens Advice Bureau.

Want to speak to us?

You can call our friendly team on 020 7291 9042, or send us an email to

We can't take applications over the phone.

UK residents only. Calls may be monitored or recorded.