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 used Volvo finance through AutoMoney Trust.
There's a varied selection of Volvos on the used market, including saloons and estates such as the S60 and V60, alongside SUVs such as the XC40 and XC60. Older models, including the V70, can also be found if you're looking for a traditional Volvo estate.
The range of available powertrains is equally broad. Depending on the model and age, used Volvos can include petrol and diesel engines, plug-in hybrids and fully electric versions. This gives you the option to choose a vehicle that fits both your practical requirements and the way you drive.
You can explore your potential finance options before deciding on the exact Volvo you want, then search for an eligible used vehicle within your budget.
Finance is subject to status, affordability checks and our lending and vehicle criteria. You can use the finance calculator to estimate example monthly repayments before applying.
The best used Volvo to finance depends on whether you prefer a saloon, estate or SUV, as well as how much passenger and luggage space you regularly need.
The Volvo XC40 is the more compact SUV option and may suit drivers who want a higher driving position without choosing a particularly large vehicle. The XC60 provides additional cabin and luggage space, making it a useful middle ground for families who want a larger SUV.
If you need three rows of seats, the Volvo XC90 is the model to consider. Its seven-seat layout can make it better suited to larger families or drivers who regularly need to carry more passengers.
You don't necessarily need an SUV to get plenty of practicality from a Volvo. The V60 combines a lower estate-car driving position with generous luggage space, while the S60 may appeal if you prefer the shape and driving experience of a saloon.
Older V70 estates are another option on the used market and are particularly well known for their large, practical load areas.
When comparing Volvo car finance, consider whether you'll actually benefit from the size and additional seating of an SUV or whether an estate or saloon would better suit your everyday driving. The most suitable Volvo is the one that provides the space you'll regularly use without adding size you don't need.
Some Volvos can be more expensive to run than mainstream alternatives, but costs vary significantly across the range. A straightforward older estate and a newer high-specification plug-in hybrid SUV, for example, have very different ownership requirements.
Many newer Volvos use mild-hybrid or plug-in hybrid technology. With a plug-in hybrid, your charging habits can influence fuel costs considerably. Regularly charging and making use of the available electric range may suit some drivers, while relying mainly on the petrol engine can produce a different cost profile.
Specification matters too. Volvos are premium cars and higher-specification versions may have larger alloy wheels, more complex technology and additional equipment. Performance-oriented versions can introduce further differences in fuel consumption and replacement costs.
Vehicle size also has an impact, but it's worth considering what you're getting for that additional cost. An XC90, for example, provides seven-seat capability, whereas a V60 may provide sufficient luggage space for someone who doesn't need the additional seats or SUV proportions.
If you're considering Volvo car finance, research the exact engine, powertrain and specification rather than assuming all Volvos are expensive (or inexpensive) to own. The differences between individual versions can be substantial.
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.
Before financing a used Volvo, check exactly which engine, powertrain and equipment level you're considering. Volvo models can have extensive safety and driver-assistance technology, so it's worth confirming that the features fitted to the individual car operate correctly.
Test equipment such as the parking sensors, cameras, adaptive cruise control and other driver-assistance systems where fitted. Dashboard warnings relating to these systems shouldn't be ignored, as diagnosing technology-related faults can require specialist attention.
If you're considering a plug-in hybrid Volvo, find out what information is available about the high-voltage battery and hybrid system. Check that the charging cable is supplied, confirm the car charges correctly and consider whether its available electric range is suitable for your typical journeys.
On an XC90, check the operation and condition of all three seating rows if seven-seat capacity is important to you. With estates such as the V60 or V70, inspect the load area and folding-seat mechanisms, particularly if practicality is one of the main reasons you're choosing the car.
Before applying for Volvo car finance, make sure the individual vehicle's technology, powertrain and configuration meet your requirements, rather than basing your decision solely on the model or trim name.
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.
