If your vehicle is on finance, LifeAxis tracks the agreement so you always know what you owe, what you pay, and what your vehicle is actually worth to you.
What you can record
LifeAxis supports all common vehicle finance types:
- PCP (Personal Contract Purchase)
- HP (Hire Purchase)
- Personal loan
- Lease
For each agreement you can record the monthly payment, start and end date, and total amount payable. For PCP agreements, you can also record the balloon payment and settlement figure.
How it feeds net worth
Your outstanding finance balance is used in the net worth calculation to show your true vehicle equity:
Vehicle equity = current market value minus outstanding finance
This means your net worth reflects what you would actually receive if you sold the vehicle today, not just what it is worth.
Finance end date on your dashboard
When a finance agreement is approaching its end date, LifeAxis surfaces a reminder on your dashboard so you have time to decide whether to settle, hand back, or refinance.