Here are some of the most frequently asked questions we get from customers about car finance. Whether you’re just getting started or need help understanding your agreement, we aim to give clear, honest, and straightforward answers. Our goal is to make car finance as simple.
Yes, you can apply for Honda car finance with AutoMoney Trust.
You could apply to finance a range of used Honda models, including the Honda Jazz, Civic, HR-V, CR-V and Accord. Whether you're looking for a smaller car for everyday journeys or a larger SUV for additional space, the Honda you choose will need to meet our vehicle and lending criteria.
You don't necessarily need to have chosen your Honda before starting an application. You can check your eligibility first and, if you receive an approval in principle, find a suitable used vehicle afterwards.
All applications are assessed individually and are subject to status, affordability and lending criteria. You can also use our finance calculator before applying to estimate how the amount borrowed and agreement term could affect your monthly repayments.
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 also 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 agreements 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, an AutoMoney Trust hire purchase agreement includes a £199 admin fee as well as a £10 option to purchase fee, 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, if you finance your car with AutoMoney Trust, you'll need to maintain fully comprehensive insurance for the entire duration of your hire purchase agreement. This is because the vehicle remains the property of AutoMoney Trust until you've made your final repayment and ownership transfers to you.
Comprehensive car insurance provides protection against a range of situations, including accidental damage, theft, fire and third-party claims. Keeping the vehicle insured for the full duration of your agreement helps protect both you and the lender by ensuring the car remains covered throughout the finance term.
When budgeting for a financed car, it is important to consider insurance as part of your overall running costs. Fully comprehensive cover is often more expensive than third party or third party fire and theft insurance, so make sure you include this alongside your monthly finance payments, fuel, servicing, and other vehicle expenses.
Some drivers also consider GAP insurance, which can help cover the difference between your insurer's settlement value if the vehicle is written off and the remaining balance on your car finance agreement when the outstanding balance may be higher than the vehicle's market value.
No, AutoMoney Trust does not charge early repayment fees on its hire purchase finance agreements, meaning you can complete your car finance settlement without paying additional penalty charges.
Whether you want to pay off your finance early, reduce your monthly commitments or sell your vehicle, settling your agreement ahead of schedule can provide greater financial flexibility and may reduce the overall cost of borrowing. To better understand how interest affects the total amount you repay, read our guide on what APR means in car finance.
If you're considering early settlement on car finance, you may be entitled to an interest rebate. Under the Consumer Credit Act 1974, customers who repay their hire purchase agreement early generally do not pay all of the interest that would have been charged over the remaining term. This reduces the total amount payable compared with continuing your monthly repayments until the end of the agreement.
If you would like to arrange a car finance settlement, you can request a settlement figure from AutoMoney Trust. This shows the total amount required to repay your finance agreement in full, taking into account any applicable interest rebate. Your settlement figure is valid for 28 days, giving you time to review the amount and decide whether early settlement is right for you.
Settlement policies can vary between lenders. While AutoMoney Trust does not charge early repayment fees, some providers may apply early settlement charges or calculate interest rebates differently. Before choosing to pay off your car finance early, always check the terms of your agreement and understand how your settlement amount has been calculated.
If you are considering a car finance settlement because you want to sell a financed car or part exchange your vehicle, our guide on Selling a Financed Car explains the process, what happens with outstanding finance, and the options available.
The best used Honda to finance depends on what you need from the car. Consider the amount of space you need, the types of journeys you make and your budget before comparing individual models.
The Honda Jazz may suit drivers looking for a smaller car that still offers practical interior space, making it an option for city driving, commuting or a first car.
For more space, the Honda Civic is a larger hatchback that can suit both commuters and families. Used Civics are available with a range of engines depending on their age, so consider which option best matches your typical journeys.
If you prefer an SUV, the Honda HR-V provides a higher driving position and compact SUV practicality without being as large as the Honda CR-V. The CR-V may be suited to families or drivers who regularly need additional passenger and luggage space.
A used Honda Accord could be another option if you're looking for a larger saloon or estate. As the Accord is no longer sold new in the UK, pay particular attention to the age, mileage, service history and condition of used examples.
When comparing Honda car finance, focus on finding a model that suits both your needs and budget rather than choosing a particular Honda simply because it has the lowest monthly payments.
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 also 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 agreements 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, an AutoMoney Trust hire purchase agreement includes a £199 admin fee as well as a £10 option to purchase fee, 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, if you finance your car with AutoMoney Trust, you'll need to maintain fully comprehensive insurance for the entire duration of your hire purchase agreement. This is because the vehicle remains the property of AutoMoney Trust until you've made your final repayment and ownership transfers to you.
Comprehensive car insurance provides protection against a range of situations, including accidental damage, theft, fire and third-party claims. Keeping the vehicle insured for the full duration of your agreement helps protect both you and the lender by ensuring the car remains covered throughout the finance term.
When budgeting for a financed car, it is important to consider insurance as part of your overall running costs. Fully comprehensive cover is often more expensive than third party or third party fire and theft insurance, so make sure you include this alongside your monthly finance payments, fuel, servicing, and other vehicle expenses.
Some drivers also consider GAP insurance, which can help cover the difference between your insurer's settlement value if the vehicle is written off and the remaining balance on your car finance agreement when the outstanding balance may be higher than the vehicle's market value.
No, AutoMoney Trust does not charge early repayment fees on its hire purchase finance agreements, meaning you can complete your car finance settlement without paying additional penalty charges.
Whether you want to pay off your finance early, reduce your monthly commitments or sell your vehicle, settling your agreement ahead of schedule can provide greater financial flexibility and may reduce the overall cost of borrowing. To better understand how interest affects the total amount you repay, read our guide on what APR means in car finance.
If you're considering early settlement on car finance, you may be entitled to an interest rebate. Under the Consumer Credit Act 1974, customers who repay their hire purchase agreement early generally do not pay all of the interest that would have been charged over the remaining term. This reduces the total amount payable compared with continuing your monthly repayments until the end of the agreement.
If you would like to arrange a car finance settlement, you can request a settlement figure from AutoMoney Trust. This shows the total amount required to repay your finance agreement in full, taking into account any applicable interest rebate. Your settlement figure is valid for 28 days, giving you time to review the amount and decide whether early settlement is right for you.
Settlement policies can vary between lenders. While AutoMoney Trust does not charge early repayment fees, some providers may apply early settlement charges or calculate interest rebates differently. Before choosing to pay off your car finance early, always check the terms of your agreement and understand how your settlement amount has been calculated.
If you are considering a car finance settlement because you want to sell a financed car or part exchange your vehicle, our guide on Selling a Financed Car explains the process, what happens with outstanding finance, and the options available.
Many Honda models can be relatively affordable to run, particularly when they have been regularly serviced and maintained. However, costs may vary depending on the model, engine, age and mileage, as well as whether you choose petrol, diesel or hybrid.
Smaller models such as the Honda Jazz can offer lower running-cost potential, while a Civic can provide a balance between practicality and everyday costs. Larger SUVs such as the HR-V and CR-V may cost more to fuel, insure and maintain because of their size, engine and specification.
Honda has a strong reputation for reliability, but used models can still develop faults as they age. Depending on the vehicle, potential areas to check include brake and suspension wear, air conditioning, clutch components, batteries and infotainment or electrical features. Hybrid Hondas should also be checked for battery condition and maintenance history.
If you're considering Honda car finance, compare these potential running costs with your monthly repayment to make sure the overall cost of the vehicle fits your budget.
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 also 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 agreements 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, an AutoMoney Trust hire purchase agreement includes a £199 admin fee as well as a £10 option to purchase fee, 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, if you finance your car with AutoMoney Trust, you'll need to maintain fully comprehensive insurance for the entire duration of your hire purchase agreement. This is because the vehicle remains the property of AutoMoney Trust until you've made your final repayment and ownership transfers to you.
Comprehensive car insurance provides protection against a range of situations, including accidental damage, theft, fire and third-party claims. Keeping the vehicle insured for the full duration of your agreement helps protect both you and the lender by ensuring the car remains covered throughout the finance term.
When budgeting for a financed car, it is important to consider insurance as part of your overall running costs. Fully comprehensive cover is often more expensive than third party or third party fire and theft insurance, so make sure you include this alongside your monthly finance payments, fuel, servicing, and other vehicle expenses.
Some drivers also consider GAP insurance, which can help cover the difference between your insurer's settlement value if the vehicle is written off and the remaining balance on your car finance agreement when the outstanding balance may be higher than the vehicle's market value.
No, AutoMoney Trust does not charge early repayment fees on its hire purchase finance agreements, meaning you can complete your car finance settlement without paying additional penalty charges.
Whether you want to pay off your finance early, reduce your monthly commitments or sell your vehicle, settling your agreement ahead of schedule can provide greater financial flexibility and may reduce the overall cost of borrowing. To better understand how interest affects the total amount you repay, read our guide on what APR means in car finance.
If you're considering early settlement on car finance, you may be entitled to an interest rebate. Under the Consumer Credit Act 1974, customers who repay their hire purchase agreement early generally do not pay all of the interest that would have been charged over the remaining term. This reduces the total amount payable compared with continuing your monthly repayments until the end of the agreement.
If you would like to arrange a car finance settlement, you can request a settlement figure from AutoMoney Trust. This shows the total amount required to repay your finance agreement in full, taking into account any applicable interest rebate. Your settlement figure is valid for 28 days, giving you time to review the amount and decide whether early settlement is right for you.
Settlement policies can vary between lenders. While AutoMoney Trust does not charge early repayment fees, some providers may apply early settlement charges or calculate interest rebates differently. Before choosing to pay off your car finance early, always check the terms of your agreement and understand how your settlement amount has been calculated.
If you are considering a car finance settlement because you want to sell a financed car or part exchange your vehicle, our guide on Selling a Financed Car explains the process, what happens with outstanding finance, and the options available.
When considering a used Honda, start by looking at how consistently the car has been maintained throughout its life. Gaps in servicing, repeated MOT advisories or unexplained periods between recorded mileage are worth investigating before you commit.
The areas that deserve attention will depend on the Honda you're buying. Look underneath the bonnet for evidence of fluid leaks or low coolant levels and listen to the engine from a cold start for any unexpected sounds. On the road, pay attention to how the car changes gear, how responsive the brakes feel and whether there are knocks or vibrations over uneven surfaces.
For an older Civic, Accord or CR-V, age and mileage can make evidence of regularmaintenance particularly important. If you're considering a diesel, find outhow the car has typically been driven, as a vehicle mainly used for short journeys may have different maintenance considerations from one regularly driven over longer distances.
A hybrid Honda requires some additional research. Find out what information is available about the hybrid system and battery, and confirm that any relevant maintenance has been completed. It's also worth making sure that a hybrid fits the journeys you normally make.
Finally, compare the car's age, mileage and condition with its asking price before committing to Honda car finance. Any unexplained history, unusual noises or signs of neglect maintenance are worth investigating further before you agree to buy the vehicle.
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 also 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 agreements 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, an AutoMoney Trust hire purchase agreement includes a £199 admin fee as well as a £10 option to purchase fee, 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, if you finance your car with AutoMoney Trust, you'll need to maintain fully comprehensive insurance for the entire duration of your hire purchase agreement. This is because the vehicle remains the property of AutoMoney Trust until you've made your final repayment and ownership transfers to you.
Comprehensive car insurance provides protection against a range of situations, including accidental damage, theft, fire and third-party claims. Keeping the vehicle insured for the full duration of your agreement helps protect both you and the lender by ensuring the car remains covered throughout the finance term.
When budgeting for a financed car, it is important to consider insurance as part of your overall running costs. Fully comprehensive cover is often more expensive than third party or third party fire and theft insurance, so make sure you include this alongside your monthly finance payments, fuel, servicing, and other vehicle expenses.
Some drivers also consider GAP insurance, which can help cover the difference between your insurer's settlement value if the vehicle is written off and the remaining balance on your car finance agreement when the outstanding balance may be higher than the vehicle's market value.
No, AutoMoney Trust does not charge early repayment fees on its hire purchase finance agreements, meaning you can complete your car finance settlement without paying additional penalty charges.
Whether you want to pay off your finance early, reduce your monthly commitments or sell your vehicle, settling your agreement ahead of schedule can provide greater financial flexibility and may reduce the overall cost of borrowing. To better understand how interest affects the total amount you repay, read our guide on what APR means in car finance.
If you're considering early settlement on car finance, you may be entitled to an interest rebate. Under the Consumer Credit Act 1974, customers who repay their hire purchase agreement early generally do not pay all of the interest that would have been charged over the remaining term. This reduces the total amount payable compared with continuing your monthly repayments until the end of the agreement.
If you would like to arrange a car finance settlement, you can request a settlement figure from AutoMoney Trust. This shows the total amount required to repay your finance agreement in full, taking into account any applicable interest rebate. Your settlement figure is valid for 28 days, giving you time to review the amount and decide whether early settlement is right for you.
Settlement policies can vary between lenders. While AutoMoney Trust does not charge early repayment fees, some providers may apply early settlement charges or calculate interest rebates differently. Before choosing to pay off your car finance early, always check the terms of your agreement and understand how your settlement amount has been calculated.
If you are considering a car finance settlement because you want to sell a financed car or part exchange your vehicle, our guide on Selling a Financed Car explains the process, what happens with outstanding finance, and the options available.
