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.
Competition | Start date | Closing date | Terms and Conditions |
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Dec/Jan Carmoola Car Loan Payoff | N/A | 14/02/2025 | To enter this competition, you must be a new or existing Carmoola customer who applied directly via the app or website. Applications via price comparison websites or brokers are not eligible. Your loan must be activated by 23:59 on 14th February 2025 to qualify. Only active customers on the date of the draw are eligible, and the winner will be selected on 15th February 2025. All entrants who have taken out a loan will receive one entry, with the opportunity to earn additional entries. You can submit a selfie featuring yourself with your car through the competition landing page for +3 entries, and share the selfie publicly on Instagram tagging @carmoolaapp for +10 entries. These bonus entries can only be used once per person - although you may submit multiple selfies and social media posts, the bonus entries are capped at one of each type. The winner will have their car loan paid off up to £15,000. If the loan balance is lower, the remaining balance will be cleared. If the loan exceeds £15,000, the overpayment will be applied according to Early Settlement Regulations with an interest rebate. By submitting an image, you grant Carmoola the right to use it for marketing purposes. Please ensure that taking out a loan is suitable for your financial circumstances. |
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).
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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
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