Car finance sorted in minutes. Seriously.

Car finance lets you spread the cost of a new or used car into monthly payments instead of paying up front. When you get a car finance deal, a lender pays the dealership for the car, and you pay the lender back in monthly instalments plus interest over the loan term.

With Carmoola, we act as the lender for your car loan. This means we manage your account directly, providing a clear car finance agreement with no hidden third-party fees.

When you get car finance with Carmoola, you’ll get your budget first, so you know exactly what you can afford before you start browsing. Then manage everything in-app, from application, car search and vehicle checks to payment.

Wherever you are in the UK, we’ve got you covered. Check out our popular UK cities that use Carmoola car finance.

No, checking your car finance eligibility with Carmoola won’t affect your credit score. We use a soft credit check that won’t impact your credit score. This allows us to see if we can provide you with car finance without it showing up to other lenders or impacting your credit score.

We only do a hard credit check when you’ve found your dream car!

To get behind the wheel with us, you’ll generally need to:

• Be at least 18 years old.

• Have been a UK resident.

• Hold a full, valid UK driving licence or provisional licence.

If you’ve just moved to the UK or have a thin credit history in the UK, you might still be able to apply for a car loan with Carmoola.

We can accept some international driving licences, provided they have the security measures we require. The best way to find out if it will work is to try!

Our 60-second check is lightning-fast because we use clever tech, but it helps to have these ready:

• Your current address

• Your monthly income

• Your monthly outgoings

If you’re currently self-employed, you might still be able to get car finance. The best way to check is by applying with Carmoola. There’s no impact on your credit score to find out.

Yes, it’s possible to get car finance with a low credit score. At Carmoola, we look beyond your past and focus on what you can afford right now.

If you've been refused car finance elsewhere, our soft search car loan eligibility checker can help you see your options without further impacting your credit file. See how we helped Lee from Nottingham get his dream car.

Potentially yes. At Carmoola, we use our own proprietary tech to look at your current affordability, not just a mistake from years ago. Because our check is a 'soft search,' it allows you to see your options without leaving a mark on your credit file.

Having fair credit is really common. The rate you get for car finance will be personalised to your credit profile.

If you use Carmoola, the rate we provide will be fair, as we don’t pay dealer commissions.

Making your repayments on time can help build a positive credit history, which may improve your finance options in the future.

Pretty much! You can buy from any of our 9,000+ dealerships already vetted in our network.

If you find a car at a reputable UK dealer that isn't on our list yet, just tell us. We’ll run a quick check on them to make sure they meet our safety standards before we authorise the payment. We’ve got your back.

Yes, you can use our car finance calculator online or get a personalised rate in our app.

If you use our app, you get a live budget and can adjust your deposit and term to see your monthly repayments update instantly. You can change your deposit, term length, and borrowing back and forth to see your monthly cost change in real-time. It’s like a calculator, but it’s actually linked to your real approval.

While a bank loan is often unsecured, a car loan through Carmoola is secured against the car itself. This may mean more flexible finance options if you have fair or poor credit.

The most common ways to fund a car purchase in the UK are Hire Purchase (HP) and Personal Contract Purchase (PCP).

Hire Purchase (HP) agreement: You pay off the full value of the car over a set loan term. Once the final payment is made, you own the car outright.

PCP car finance agreement: You pay lower monthly instalments because you aren't paying for the whole car, just the depreciation. At the end of your loan term, you can pay a balloon payment to own the car, hand it back, or trade it in.

Carmoola offers HP car finance, PCP finance and refinancing options.

We offer zero deposit car finance that allows you to get behind the wheel without handing over a lump sum of cash upfront. While putting down a deposit can reduce your monthly repayments and the total interest you pay, it isn't an option for everyone.

When you use our app, you can toggle your deposit amount to £0 and see exactly what your monthly repayments would look like.

If you already have a car, you can use its value as a deposit towards your new vehicle. Trade in your old ride and use the value as a deposit for your new vehicle. It’s a great way to shrink your car loan amount and lower your fixed monthly repayments. This is called a part-exchange, and you can easily add this in the Carmoola app.

APR stands for Annual Percentage Rate. It’s the standard way to compare the cost of borrowing, as it includes both the interest rate and any mandatory fees. A lower APR can mean a cheaper car finance deal overall. Your specific rate is usually based on your credit history and the amount you want to borrow.

Yes, 0% interest car finance deals do exist, but they are generally offered by car manufacturers on brand-new cars or by dealers as part of promotional offers and often require excellent credit.

It depends on your goals. Finance is great if you want to keep your savings in the bank or drive a more reliable, modern car than you could afford upfront. By spreading the cost, you avoid the "big hit" to your finances.

However, remember that you will pay interest over the life of the loan.

Download the Carmoola app and use our in-app plan builder to see exactly what your total cost of borrowing looks like before you commit.

The cheapest car finance deal is usually the one with the lowest total interest. Factors that can affect the overall cost include:

• Choose a shorter loan term: You’ll pay more per month, but much less in total interest.

• Put down a deposit: Even a small amount reduces the loan size.

• Refinance later: If your credit score improves, you can refinance your car loan to secure a lower interest rate and reduce your monthly outgoings. We make it easy to switch your existing finance agreement to a better deal.

While we offer 0% deposit options, putting down a deposit can reduce the amount you borrow, which may reduce your monthly repayments and the total interest you repay.

A settlement figure is what it costs to end your agreement early. You'll usually save on some interest you'd pay in the future.

With Carmoola, you can track your progress and manage early repayments straight from the app.