Hire Purchase – or HP – is a type of car finance that lets you spread the cost of a car over an agreed length of time, after which you'll own the car outright.
Personal Contract Purchase - or PCP - is a flexible finance agreement that allows you to hand the car back, own it outright or trade it in for another at the end.
Refinance is the process of taking out a new finance agreement so you can pay off your current loan and switch to a new lender.
Our calculator will estimate how much interest you'll be paying and how much your payments might be each month.
Use our early settlement calculator to estimate the outstanding amount on your current HP or PCP agreement.
See if you’re eligible for a car loan - it's fast, free and has no impact on your credit score.
Get your budget, sign your agreement and pay in under 10 minutes, all on our easy app.
Get My Budget
Takes 60 seconds, no impact on your credit profile to see if you're approved 👍
With our car finance app you can apply and sign your agreement quickly and easily. Simply choose the payment options that are best for you and you’ll be one step closer to getting your new car. Wondering how the process works? All you need is to follow these simple steps:
The system was extraordinary in that I was immediately approved with the perfect budget figure. I agreed a fair deal with a main Mercedes dealer with their documents completed on line.
John Smith
Proud Mercedes-Benz Owner
Step 1
In just 60 seconds, find out how much you can spend on your new wheels.
Borrowing £10,000 over 54 months with a representative APR of 13.9%, an annual interest rate of 13.9% fixed and a deposit of £0.00, the amount payable would be £246 per month, with a total cost of credit of £3,284 and a total amount payable of £13,285 including a one-off Option to Purchase fee of £1.
We offer hire purchase loans between £2,000 - £40,000
at a personalised APR between 6.9% and 24.9%
Step 2
Run free history checks and have complete peace of mind that you’ve chosen a great car.
Step 3
No need to dig out bank statements or utility bills. We use the latest technology to give you a fast, paperless experience.
We use biometrics to make sure you are who you say you are
Get verified in minutes using only your driving licence
No need to dig out old paperwork. All you need is an ID and a face
Step 4
Checkout with Carmoola online, or in the showroom. Accepted at all online car-buying websites, and 1,000's of reputable dealerships.
Use your card details at checkout when you pay on a website
Add your Carmoola card to your wallet and tap to pay
Start a bank transfer to send money to the dealership directly
Use your card details at checkout when you pay on a website
Start a bank tranfers to send money to the dealership directly
Add your Carmoola card to your wallet and tap to pay
Manage your finance
The Carmoola app puts you in control,
so no more waiting on hold to a call centre!
Missed a payment? No worries, you can catch up easily in the app
Easily update your debit card details in the app if you need to
You can make extra payments to pay off your loan faster, with no fees!
✨ NEW FEATURE
Refinancing
See if you could save money by switching to Carmoola!
It's clear there’s a lot of energy behind this company. So quick to refinance my vehicle. They must have some impressive automation. Honestly if you like a smooth experience, this is the place to get it.
Robert Szakal
Saved money on his Vauxhall Corsa
Answer a few questions to find out if you qualify for a Carmoola loan.
Check My EligibiltyRates from as low as 6.9% APR,
Representative 13.9% APR
Answer a couple of questions to find out if you might be eligible to buy your car with Carmoola!
Eligibility
Helping you
Got a question? Our friendly, UK-based team is here from 8am - 9pm EVERY day, via WhatsApp, email, SMS or phone.
So easy to finance a new car. Downloaded app, entered a few details and a pre-approved budget was given. Simple ID checks and a quick process to add desired car. Can't recommend highly enough - so simple and stress free!
The whole experience of using Carmoola was easy, smooth and pain free. The app is amazing and so easy to use and if you need to call them for any reason, they can’t do enough to help. I hadn’t heard of them before but would definitely recommend to anyone looking to finance a car. The most competitive apr I have found. Thank you guys 🙏🏻
Quick, efficient and always on standby to help when needed. Easiest and quickest finance application and the APR was much better than what was offered elsewhere. Will definitely be using Carmoola again. More than satisfied!!!
Carmoola was soo easy and straight to the point, I thought it couldn’t be this easy as I’ve used a finance company before for my previous car but they shocked me. It was done swiftly, professionally and most importantly legally. I fully recommend Carmoola. Also interest rate was the lowest I could get with any other provider
Great experience, had no issues. This is the first time I've used a car loan service, initially it was daunting but Carmoola have made everything run smoothly. The app is also great.
Here's the most frequently asked questions about how the Carmoola process works... spoiler alert... it's super easy! Got more questions? Head over to our FAQs page 👍
When you apply for car finance with Carmoola, we run a soft credit search (no impact on your credit score), an affordability check, and also ask you to upload your driving licence.
No. Once you've chosen the car you'd like to purchase, Carmoola will send the funds directly to the dealership. We have 3 payment methods available. 1) Bank transfer. We use Faster Payments, so the dealership will receive the funds the same day in a matter of minutes. 2) For online purchases, you can use the Carmoola virtual card as if it's your own debit card. 3) Apple and Google Pay. You can add the Carmoola card to your digital wallet, and make a Contactless payment at the dealership.
You don't withdraw money from Carmoola. We offer loans to put towards the car you're buying. This means once you've chosen the car, you can decide how much you'll borrow from us and we can send those funds directly to the dealership you're buying from.
Carmoola runs a credit check and assesses your affordability, to find an affordable budget for you to spend on your next car. You'll be offered a range, from £2,000 up to the maximum budget that we believe is affordable for you. Unfortunately we're not able to increase your maximum budget. However, if you believe you've made a mistake on your application, please get in touch and we'll try our best to help.
What would you like to do first?
Takes 60 seconds, no impact on your credit profile to see if you're approved 👍
Rates from as low as 6.9% APR, Representative 13.9% APR
Carmoola is a trading name of Carmoola Limited which is registered in England & Wales, under Registered No. 12992987. Its Registered Office is First Floor, 1 Whittlebury Mews West, Primrose Hill, London, NW1 8HS. Carmoola Limited is authorised and regulated by the Financial Conduct Authority (Firm Reference Number: 958057), and a member of CIFAS (the UK’s leading fraud prevention service).
Registered with the Information Commissioner’s Office in compliance with the Data Protection Regulations 2018 under registration ZA905089.
Finance is subject to status and is only available to UK residents aged 18 and over. Carmoola is committed to responsible lending.
To get in touch, email us at support@carmoola.co.uk
If you are struggling with, or worried about debt, MoneyHelper provide free support.
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