AutoMoney Trust provides HP car finance for used cars across the UK. You can apply online, check your eligibility with a soft search first, and review your finance offer before deciding whether to continue.
AutoMoney Trust is a UK hire purchase lender helping customers spread the cost of a used car through fixed monthly repayments. Instead of paying the full vehicle price upfront, HP finance lets you repay the amount borrowed over an agreed term.
With HP finance, the car belongs to the lender during the agreement. Once all required payments have been made and the option to purchase fee has been paid, ownership transfers to you.
AutoMoney Trust considers applications across a wide range of circumstances. Finance is subject to status, affordability checks, vehicle checks and lending criteria.
HP car finance with AutoMoney Trust may suit customers who want a straightforward way to finance a used car and work towards ownership at the end of the agreement.
This service may be suitable if you:
If you want to estimate monthly payments first, you can use the finance calculator before applying.
Your initial eligibility check uses a soft credit search, so checking your eligibility will not affect your credit score. If you decide to proceed with a full application, a hard credit search may be carried out later.
A poor credit history does not automatically mean you cannot apply. We consider affordability and your wider circumstances, not just your credit score. Check our guide on applying for car finance with poor credit.
Before signing your finance agreement, we'll provide you with a full breakdown of your finance package, including your monthly payments, APR, agreement term, any fees, and the total amount you'll pay over the life of the agreement.
AutoMoney Trust is a direct HP car finance lender. If your application is approved and you choose to proceed, your agreement will be with AutoMoney Trust throughout the finance term.
Complete the online application with your personal, income, employment and contact details. The first stage uses a soft search, so checking your eligibility will not affect your credit score.
Finance is not guaranteed. Any offer depends on status, affordability checks and lending criteria.
Open finance affordability form
If your application is approved, you can review your finance offer before deciding whether to continue. This will include the monthly payment, APR, agreement term, total amount payable and any fees.
Make sure the repayments are affordable for the full agreement term before signing.
Open finance calculator
Once your finance has been agreed in principle, you can choose a suitable used car. The vehicle will need to meet AutoMoney Trust criteria before the finance can be completed.
You can browse used car finance by manufacturer if you are still comparing options.
Before signing, read the agreement carefully and make sure you understand the payments, fees, agreement term, total amount payable and your responsibilities.
If anything is unclear, ask before signing. HP finance is a legal and financial commitment.
Once your documents are signed, all checks are complete and the dealership is paid, you can drive away in your car.
During the agreement, you must keep up with repayments, keep the vehicle insured and follow the terms of your HP agreement. Once all required payments and the option to purchase fee have been made, ownership transfers to you.
HP car finance can be a straightforward way to finance a used car, but it is still a credit agreement. You should understand the costs and responsibilities before applying.
The vehicle belongs to the lender during the HP agreement. Once all required payments and the option to purchase fee have been made, you become the legal owner of the vehicle.
As HP finance includes interest and may include fees, the total amount payable will usually be more than the vehicle price. This reflects the overall cost of borrowing over the term of the agreement.
You must ensure the vehicle is covered by fully comprehensive insurance for the duration of the agreement. This helps protect both you and the vehicle while the finance is in place.
If you miss payments or do not keep to the agreement, this may affect your credit score and your ability to get credit in the future. Your vehicle may also be at risk if you do not maintain payments.
If you are ready to start, you can apply online in a few minutes. You can also use the finance calculator first if you want to estimate monthly payments before completing an application.
Before applying, you may want to read:
Yes, you can apply for car finance with a low credit score. AutoMoney Trust considers applications from customers with lower credit score, and having a low score does not automatically prevent you from being considered for finance. Each application is assessed individually based on your wider financial circumstances and affordability.
We understand that a credit score does not always provide a complete picture of your financial situation. That's why we also consider factors such as affordability, income stability, existing financial commitments and recent credit conduct when reviewing your application.
Having a low credit score does not automatically mean you will be unable to get car finance. However, it may affect the finance options available, including the rate offered or the amount you may be able to borrow. All applications are assessed individually and remain subject to status, affordability checks and our lending criteria.
If you are looking for car finance with a low credit score, you can explore your options with AutoMoney Trust by completing an online application. Our initial assessment helps you understand whether finance may be suitable for your circumstances, with a decision available in minutes.
The main difference is that with Hire Purchase (HP) you own the vehicle at the end of the agreement, whereas Personal Contract Purchase (PCP) includes an optional final balloon payment if you want to keep the car.
With Hire Purchase, you repay the full value of the vehicle through fixed monthly payments and become the owner once all payments and any option to purchase fee have been paid.
With PCP, monthly payments are usually lower because you are paying towards only part of the vehicle's value. At the end of the agreement, you can pay the balloon payment 9also known as a final payment) to keep the vehicle, return it, or choose another available option.
One of the main differences between HP and PCP finance is how ownership and mileage work. PCP agreement often include annual mileage limits and potential charges if the vehicle exceeds the agreed mileage or is returned with damage outside normal wear and tear. Hire purchase does not usually have mileage restrictions, making it a popular option for drivers who want flexibility and the certainty of owning the vehicle at the end of the agreement.
AutoMoney Trust offers hire purchase car finance only, providing customers buying used cars a straightforward agreement, fixed monthly payments, and the reassurance that they can own their vehicle once the agreement is completed.
Yes, AutoMoney Trust hire purchase agreement includes a £199 admin fee as well as an option to purchase fee of £10, which is paid alongside your final monthly payment if you decide to keep the vehicle at the end of your agreement. This fee allows ownership of the car to transfer to you once all payments have been completed.
All applicable fees are clearly explained in your car finance agreement, so you can understand the costs involved before entering into a hire purchase agreement.
Additional charges may apply if payments are missed, including reminder letter fees or default interest. These charges are designed to cover the costs associated with managing missed payments and are detailed in our arrears fees and default interest schedule.
Unlike some finance providers, AutoMoney Trust does not charge early repayment fees if you choose to settle your agreement ahead of schedule. If you are considering paying off your car finance early, you can contact us to discuss your options and understand any settlement figure that may apply.
Yes, you may still be able to get car finance with poor credit. AutoMoney Trust considers your overall financial circumstances and affordability rather than relying on your credit score alone, and specialises in helping customers who have been declined elsewhere, including those with CCJs, missed payments, a limited credit history or a default on their credit file. Having poor credit does not automatically prevent you from being considered for car finance.
Every application is assessed individually, considering factors such as affordability, income stability, employment and existing financial commitments. While poor credit may mean a higher interest rate or a smaller borrowing amount, it does not automatically prevent you from getting car finance.
Whether you are looking for car finance with bad credit or have struggled to get approval elsewhere, our team can help you explore your available options. You can complete a short online application with a soft credit search, which will not affect your credit score.
