loan termination insurance (LTI)

Loan Termination Insurance (LTI) is designed to provide you with a level of cover in the event that you encounter or suffer from certain events and where as a consequence of these events you wish to hand back your vehicle in order to terminate your finance contract.

If the payout figure of the finance contract is more than the value of the vehicle at the time the vehicle is returned, the contract will be paid out, subject to the terms and conditions of the policy.

In the event of a change of circumstances you may need to hand back your vehicle to the original place of purchase and terminate the finance contract for the vehicle early.

This early termination may result in financial penalties and a shortfall.

LTI protects you from being personally responsible for those penalties and any shortfall, up to the value of the level of cover selected by you.