What is the option to purchase fee?

You may come across the option to purchase fee at one of two points during your agreement.

The fee is payable:

i) if you wish to repay your loan and “purchase” your vehicle before the end of your agreement; or

ii) at the end of your agreement along with your final payment (if you want to become the owner of the vehicle at the end of the agreement).

This one-off fee is an administrative charge to cover the work Oodle has to do to transfer ownership of the vehicle to you.