Auto Finance – Quick Online Approval

How does Auto Finance Work?

Getting auto finance online is easy; with only a few simple steps, you could be approved in no time:

Apply online in 2 minutes – Quickly and easily apply online. It only takes 2 minutes to provide all the information we need to get you a car finance decision.

We’ll find your best deal – We’ll find you the best finance rate and ensure your new car is HPI checked from a good dealership!

You drive away happy – We’ll sort all the details and you just decide when to collect your new car!

We have a huge selection of new and used cars on our site from our many partner dealerships, and you can use our online auto finance calculator to work out your monthly payments quickly.

What Types of Car Finance are there?

There are two choices for auto financing: personal contract purchase (PCP) and hire purchase (HP). Here is how they work:

Personal Contract Purchase – You pay a deposit, followed by monthly repayments. These cover the car’s predicted depreciation plus interest. At the end of the agreement, you have three options: pay a final ‘balloon’ payment to own the car, trade it in for a new one, or hand it back. PCP often offers lower monthly payments than other finance options, but remember, you don’t own the car until the final balloon payment is made.

Hire Purchase – This is a way to buy a car by paying it off in fixed monthly instalments. You usually make a deposit upfront, and the lender owns the car until the final payment is made. This final payment, often called the ‘option to purchase fee’, lets you own the car outright. HP offers predictable monthly payments, and you know exactly what you’ll pay in total. 

What Checks are done for Auto Finance?

To apply for auto finance, you’ll need to provide information about yourself and your financial situation. The lender will review this information to determine if you qualify for a loan. They will typically check:

• Your identity
• Your address
• Your income
• Your employment
• Your driving record
• Your credit history
• Your background

Each of these factors will contribute to your likelihood of getting finance and the interest rate the lender offers. 

How Quickly can I get Approved?

It can vary depending on each individual’s situation, but CarMoney can get you approved in as little as 10 minutes! We work with the speed of ninjas, scanning our panel of lenders for the best rate possible for each customer. 

We have helped thousands of people fund their new car, some in only a day or two! Our team of experts is fast, efficient, and friendly. If you have any questions about the process, feel free to get in touch. Give your calculator a try and get an idea of how much your monthly repayments would be…