FAQs

If you're worried about making your next car finance payment, contact AutoMoney Trust as soon as possible, ideally before the payment is due. Speaking to us early allows us to understand your circumstances and discuss the support or options that may be available before your account falls into arrears. Taking action early can help reduce the impact on your finance agreement and improve the likelihood of finding a suitable solution.

Depending on your circumstances, we may be able to discuss short-term payment arrangements or signpost you to free, independent debt advice if appropriate. Speaking to us before you miss a payment can often lead to better outcomes than waiting until your account falls into arrears.

Missing car finance payments can affect your credit file, result in default interest or other applicable charges, and, if the situation remains unresolved, could put your hire purchase agreement at risk. Acting early may help minimise these impacts and keep your agreement on track.

At AutoMoney Trust, we treat every conversation in confidence and are committed to treating customers fairly. If you're experiencing financial difficulties, we'll work with you to understand your circumstances and explore a suitable way forward wherever possible.

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

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.

If you're worried about making your next car finance payment, contact AutoMoney Trust as soon as possible, ideally before the payment is due. Speaking to us early allows us to understand your circumstances and discuss the support or options that may be available before your account falls into arrears. Taking action early can help reduce the impact on your finance agreement and improve the likelihood of finding a suitable solution.

Depending on your circumstances, we may be able to discuss short-term payment arrangements or signpost you to free, independent debt advice if appropriate. Speaking to us before you miss a payment can often lead to better outcomes than waiting until your account falls into arrears.

Missing car finance payments can affect your credit file, result in default interest or other applicable charges, and, if the situation remains unresolved, could put your hire purchase agreement at risk. Acting early may help minimise these impacts and keep your agreement on track.

At AutoMoney Trust, we treat every conversation in confidence and are committed to treating customers fairly. If you're experiencing financial difficulties, we'll work with you to understand your circumstances and explore a suitable way forward wherever possible.

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

Continued missed payments can lead to arrears, damage your credit file and, in some circumstances, repossession of the vehicle. 

If you fall behind on your car finance payments, AutoMoney Trust will contact you to understand your situation and discuss the support available. If you are struggling to maintain your payments, it is important to get in touch as early as possible, as we may be able to help you understand your options and prevent your account from falling further into arrears. 

Ongoing missed payments may result in default interest, reminder letter fees, and information being reported to credit reference agencies. A record of missed payments could remain on your credit file for up to six years, which may affect your ability to obtain credit in the future. 

If car finance arrears remain unresolved, your hire purchase agreement may be terminated and steps may be taken to recover the vehicle. However, under UK law, if you have paid at least one-third of the total amount payable under your agreement, a court order is generally required before the vehicle can be repossessed. 

If the vehicle is repossessed and sold, you may still be responsible for any remaining balance if the sale proceeds do not cover the amount outstanding on your car finance agreement. 

If you are experiencing financial difficulties, please contact AutoMoney Trust as soon as possible. You can also visit our Existing Customers page for more information. 

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. 

If you're worried about making your next car finance payment, contact AutoMoney Trust as soon as possible, ideally before the payment is due. Speaking to us early allows us to understand your circumstances and discuss the support or options that may be available before your account falls into arrears. Taking action early can help reduce the impact on your finance agreement and improve the likelihood of finding a suitable solution.

Depending on your circumstances, we may be able to discuss short-term payment arrangements or signpost you to free, independent debt advice if appropriate. Speaking to us before you miss a payment can often lead to better outcomes than waiting until your account falls into arrears.

Missing car finance payments can affect your credit file, result in default interest or other applicable charges, and, if the situation remains unresolved, could put your hire purchase agreement at risk. Acting early may help minimise these impacts and keep your agreement on track.

At AutoMoney Trust, we treat every conversation in confidence and are committed to treating customers fairly. If you're experiencing financial difficulties, we'll work with you to understand your circumstances and explore a suitable way forward wherever possible.

Continued missed payments can lead to arrears, damage your credit file and, in some circumstances, repossession of the vehicle. 

If you fall behind on your car finance payments, AutoMoney Trust will contact you to understand your situation and discuss the support available. If you are struggling to maintain your payments, it is important to get in touch as early as possible, as we may be able to help you understand your options and prevent your account from falling further into arrears. 

Ongoing missed payments may result in default interest, reminder letter fees, and information being reported to credit reference agencies. A record of missed payments could remain on your credit file for up to six years, which may affect your ability to obtain credit in the future. 

If car finance arrears remain unresolved, your hire purchase agreement may be terminated and steps may be taken to recover the vehicle. However, under UK law, if you have paid at least one-third of the total amount payable under your agreement, a court order is generally required before the vehicle can be repossessed. 

If the vehicle is repossessed and sold, you may still be responsible for any remaining balance if the sale proceeds do not cover the amount outstanding on your car finance agreement. 

If you are experiencing financial difficulties, please contact AutoMoney Trust as soon as possible. You can also visit our Existing Customers page for more information. 

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.

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

Continued missed payments can lead to arrears, damage your credit file and, in some circumstances, repossession of the vehicle. 

If you fall behind on your car finance payments, AutoMoney Trust will contact you to understand your situation and discuss the support available. If you are struggling to maintain your payments, it is important to get in touch as early as possible, as we may be able to help you understand your options and prevent your account from falling further into arrears. 

Ongoing missed payments may result in default interest, reminder letter fees, and information being reported to credit reference agencies. A record of missed payments could remain on your credit file for up to six years, which may affect your ability to obtain credit in the future. 

If car finance arrears remain unresolved, your hire purchase agreement may be terminated and steps may be taken to recover the vehicle. However, under UK law, if you have paid at least one-third of the total amount payable under your agreement, a court order is generally required before the vehicle can be repossessed. 

If the vehicle is repossessed and sold, you may still be responsible for any remaining balance if the sale proceeds do not cover the amount outstanding on your car finance agreement. 

If you are experiencing financial difficulties, please contact AutoMoney Trust as soon as possible. You can also visit our Existing Customers page for more information. 

Yes, you may be able to change your car finance payment date with AutoMoney Trust. If you need your monthly payment to be taken on a different date, you can contact us to request a change, subject to the terms of your agreement.

If your circumstances have changed, such as your payday moving or you need more flexibility with your monthly payments, contact AutoMoney Trust before your next payment is due to discuss your options.

Changing your payment date may affect the total amount you repay under your hire purchase agreement because additional interest may accrue between your original and new payment dates. Our team can explain how any change could affect your agreement, including your remaining balance and future monthly repayments.

If you're concerned about affordability rather than just changing your payment date, it's worth reviewing the support available for existing customers to understand the options that may be available based on your circumstances. You can also use our finance calculator to see how different repayments could affect your agreement and help you plan your budget.

Yes, you may be eligible for voluntary termination (VT) of car finance if you've paid at least 50% of the total amount payable under your hire purchase agreement. Under section 99 of the Consumer Credit Act 1974, customers have a legal right to voluntarily terminate your hire purchase agreement, provided the required conditions are met. 

Car finance voluntary termination allows you to return the vehicle and end your hire purchase agreement without making the remaining monthly payments. If you've paid less than 50% of the total amount payable, you may still be able to request voluntary termination, but you'll need to pay the difference before the agreement can be ended.

The vehicle must also be returned in reasonable condition, and any outstanding arrears or missed payments will need to be cleared before the agreement can be concluded. 

Choosing voluntary termination on a hire purchase agreement may be recorded on your credit file and could be considered by future lenders when assessing applications. Before deciding whether this is the right option for your circumstances, we recommend speaking to AutoMoney Trust. Our team can explain the process, discuss any alternatives and help you understand the potential impact on your finance agreement. 

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

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.

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

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. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

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. 

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. 

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. 

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. 

Getting started with AutoMoney Trust is straightforward, you can apply online today using our short application form and receive a decision in minutes. Before applying, it helps to understand your options, check what documents you'll need, and use our finance calculator to estimate monthly payments based on the amount you want to borrow. AutoMoney Trust specialises in used car Hire Purchase finance from £4,000 to £25,000, with fixed monthly payments over 36 to 84 months. Applications are subject to status and affordability. Once approved, you could be driving your new car the same day.

Getting started with AutoMoney Trust car finance is simple. You can apply online using our short application form and provide the information needed for us to assess your application. In many cases, you can receive a decision quickly once your details have been reviewed. 

Before applying for used car finance, it can help to understand your finance options, check the documents you may need, and use our car finance calculator to estimate your potential payments. This can give you a clearer idea of what you may be able to afford based on the amount you want to borrow and the length of your agreement. 

AutoMoney Trust specialises in used car hire purchase finance from £4,000 to £25,000, with flexible agreement terms from 36 to 84 months and fixed monthly payments throughout the finance term. With hire purchase, you make regular payments towards the vehicle and, once all payments and the option to purchase fee have been completed, you can own the car outright. 

All car finance applications are subject to status and affordability checks, meaning we will consider your individual circumstances before making a lending decision. 

Once your application has been approved and your vehicle purchase has been completed, you could be driving your new car the same day. 

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

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. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Yes, you may be eligible for voluntary termination (VT) of car finance if you've paid at least 50% of the total amount payable under your hire purchase agreement. Under section 99 of the Consumer Credit Act 1974, customers have a legal right to voluntarily terminate your hire purchase agreement, provided the required conditions are met. 

Car finance voluntary termination allows you to return the vehicle and end your hire purchase agreement without making the remaining monthly payments. If you've paid less than 50% of the total amount payable, you may still be able to request voluntary termination, but you'll need to pay the difference before the agreement can be ended.

The vehicle must also be returned in reasonable condition, and any outstanding arrears or missed payments will need to be cleared before the agreement can be concluded. 

Choosing voluntary termination on a hire purchase agreement may be recorded on your credit file and could be considered by future lenders when assessing applications. Before deciding whether this is the right option for your circumstances, we recommend speaking to AutoMoney Trust. Our team can explain the process, discuss any alternatives and help you understand the potential impact on your finance agreement. 

Yes, an 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. 

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits 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. 

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 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. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

Yes, you may be able to change your car finance payment date with AutoMoney Trust. If you need your monthly payment to be taken on a different date, you can contact us to request a change, subject to the terms of your agreement.

If your circumstances have changed, such as your payday moving or you need more flexibility with your monthly payments, contact AutoMoney Trust before your next payment is due to discuss your options.

Changing your payment date may affect the total amount you repay under your hire purchase agreement because additional interest may accrue between your original and new payment dates. Our team can explain how any change could affect your agreement, including your remaining balance and future monthly repayments.

If you're concerned about affordability rather than just changing your payment date, it's worth reviewing the support available for existing customers to understand the options that may be available based on your circumstances. You can also use our finance calculator to see how different repayments could affect your agreement and help you plan your budget.

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 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. 

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 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, 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.

If you're worried about making your next car finance payment, contact AutoMoney Trust as soon as possible, ideally before the payment is due. Speaking to us early allows us to understand your circumstances and discuss the support or options that may be available before your account falls into arrears. Taking action early can help reduce the impact on your finance agreement and improve the likelihood of finding a suitable solution.

Depending on your circumstances, we may be able to discuss short-term payment arrangements or signpost you to free, independent debt advice if appropriate. Speaking to us before you miss a payment can often lead to better outcomes than waiting until your account falls into arrears.

Missing car finance payments can affect your credit file, result in default interest or other applicable charges, and, if the situation remains unresolved, could put your hire purchase agreement at risk. Acting early may help minimise these impacts and keep your agreement on track.

At AutoMoney Trust, we treat every conversation in confidence and are committed to treating customers fairly. If you're experiencing financial difficulties, we'll work with you to understand your circumstances and explore a suitable way forward wherever possible.

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

Yes, you may be eligible for voluntary termination (VT) of car finance if you've paid at least 50% of the total amount payable under your hire purchase agreement. Under section 99 of the Consumer Credit Act 1974, customers have a legal right to voluntarily terminate your hire purchase agreement, provided the required conditions are met. 

Car finance voluntary termination allows you to return the vehicle and end your hire purchase agreement without making the remaining monthly payments. If you've paid less than 50% of the total amount payable, you may still be able to request voluntary termination, but you'll need to pay the difference before the agreement can be ended.

The vehicle must also be returned in reasonable condition, and any outstanding arrears or missed payments will need to be cleared before the agreement can be concluded. 

Choosing voluntary termination on a hire purchase agreement may be recorded on your credit file and could be considered by future lenders when assessing applications. Before deciding whether this is the right option for your circumstances, we recommend speaking to AutoMoney Trust. Our team can explain the process, discuss any alternatives and help you understand the potential impact on your finance agreement. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

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.

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

Yes, your car is likely to lose value during the finance agreement. Most cars depreciate over time, meaning they gradually lose value as they age. For most used cars, depreciation continues throughout a Hire Purchase agreement, so the vehicle is typically worth less at the end of the finance term than when it was purchased.

Depreciation is important because the total amount payable on a car finance agreement includes the amount borrowed, interest, and any applicable fees. As a result, the total amount you repay over the agreement may be higher than the vehicle's market value by the time your finance ends. 

Depreciation can also increase the risk of negative equity. If you decide to settle your car finance early or sell the vehicle before your agreement has ended, the car's current market value may be lower than the outstanding finance balance. In this situation, you may need to pay the difference before the agreement can be settled. 

The rate at which a car depreciates depends on several factors, including its age, mileage, condition, service history, brand, model, and market demand. Keeping your vehicle well maintained and within reasonable mileage can help preserve its value over time, although depreciation cannot be avoided completely. 

Some drivers also choose to take out GAP insurance, which may help cover the difference between an insurer's payout if the vehicle is written off and the remaining balance on the car finance agreement. This can provide additional financial protection particularly during the earlier years of a hire purchase agreement, when the outstanding finance may be higher than the vehicle's market value. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits 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. 

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. 

Late or missed car finance payments may be reported to the main UK credit reference agencies and could remain on your credit file for up to six years. This can negatively affect your credit score and may make it more difficult or more expensive to access credit in the future, while keeping your payments up to date can help maintain a healthier credit profile.

A missed payment may affect future borrowing decisions, with lenders potentially offering different terms, higher interest rates, or declining an application depending on your overall financial circumstances. The impact can vary depending on how late the payment is, whether the account returns to good standing, and if arrears continue over time. 

If you are experiencing difficulties keeping up with your car finance payments, it is important to contact AutoMoney Trust as soon as possible. Speaking to us early gives the opportunity to understand your situation and discuss what support or options may be available before payments are missed. 

Keeping your finance agreement up to date and making payments on time can help maintain a healthier credit profile. For more detail on how lenders review applications, see our guide to credit checks for car finance.

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. 

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. 

Continued missed payments can lead to arrears, damage your credit file and, in some circumstances, repossession of the vehicle. 

If you fall behind on your car finance payments, AutoMoney Trust will contact you to understand your situation and discuss the support available. If you are struggling to maintain your payments, it is important to get in touch as early as possible, as we may be able to help you understand your options and prevent your account from falling further into arrears. 

Ongoing missed payments may result in default interest, reminder letter fees, and information being reported to credit reference agencies. A record of missed payments could remain on your credit file for up to six years, which may affect your ability to obtain credit in the future. 

If car finance arrears remain unresolved, your hire purchase agreement may be terminated and steps may be taken to recover the vehicle. However, under UK law, if you have paid at least one-third of the total amount payable under your agreement, a court order is generally required before the vehicle can be repossessed. 

If the vehicle is repossessed and sold, you may still be responsible for any remaining balance if the sale proceeds do not cover the amount outstanding on your car finance agreement. 

If you are experiencing financial difficulties, please contact AutoMoney Trust as soon as possible. You can also visit our Existing Customers page for more information. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

Yes, an 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. 

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.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

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. 

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, 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 length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

Yes, an 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. 

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. 

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. 

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Yes, an 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. 

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. 

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. 

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Yes, an 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. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

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. 

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. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

Yes, an 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. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits 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. 

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. 

With an AutoMoney Trust hire purchase agreement, legal ownership of the car transfers to you only after you have made all of your monthly payments and paid the £10 option to purchase fee at the end of the agreement. Until then, the vehicle remains the property of AutoMoney Trust. 

Although you won't legally own the car during the finance term, you are responsible for its day-to-day running costs, including vehicle tax, insurance, MOT, servicing, and maintenance. As the finance provider owns the vehicle until the agreement is complete, you cannot normally sell, transfer ownership of, or make significant modifications to the car without our permission. 

It is also important to keep up with your car finance payments, as missed payments could lead to arrears and, in some circumstances, the vehicle may be at risk of repossession if the agreement is not brought back up to date. 

Once you have made your final monthly payment and paid the option to purchase fee, legal ownership transfers to you, and the car becomes fully yours with no further finance obligations. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

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. 

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. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

Yes, an 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. 

Car finance usually costs more than the car's cash price because you're paying to borrow money to purchase the vehicle. The total amount payable includes the amount borrowed, plus interest and any applicable fees charged over the term of the finance agreement, which increases the overall cost.

For example, a £10,000 car on a 60-month agreement at a representative APR may cost several thousand pounds more in total once interest and the option to purchase fee is included.

Several factors affect the total cost of car finance, including your APR, the length of your finance term, the size of your deposit and the amount you can borrow. A longer agreement can reduce your monthly repayments but will often increase the total amount of interest paid over the life of the agreement. A larger deposit or shorter term may reduce the overall cost of borrowing. If you're unable to put money down upfront, our guide to zero deposit car finance options explains how these agreements work and what to consider before applying.

Before entering into any hire purchase agreement, it is important to review the total amount payable, monthly repayments, and APR so you understand the full cost of the finance. You can also use the AutoMoney Trust car finance calculator to compare different borrowing amounts, deposits, and agreement terms to find an option that best suits your budget. 

Yes, an 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. 

The length of your car finance agreement can have a significant impact on both your monthly payments and the total cost of borrowing. 

Choosing a longer finance term, such as 60 or 84 months, spreads the cost of the vehicle over a greater number of payments. This can make your monthly payments more affordable, but it may mean you pay more interest overall throughout the agreement. 

A shorter car finance term, such as 36 months, usually results in higher monthly payments because the balance is repaid over a shorter period. However, paying the agreement off sooner can reduce the overall amount of interest paid, making it a potentially lower-cost option over the full term. 

When choosing the right finance term, it is important to consider your budget, monthly affordability, and how long you plan to keep the vehicle. The best option is one that allows you to comfortably manage your payments without putting unnecessary pressure on your finances. 

AutoMoney Trust offers car finance terms from 36 to 84 months, giving you flexibility to choose an agreement that suits your circumstances. Use our car finance calculator to compare different term lengths and understand how your monthly payments and overall costs could change before applying. 

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.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Yes, an 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. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?. 

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. 

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. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

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. 

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

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. 

Car finance can affect your credit score positively or negatively depending on how you manage your agreement. Making regular, on-time payments can help build a positive credit history and demonstrate responsible borrowing, while late or missed payments can negatively affect your credit score and make it more difficult or expensive to access credit in the future.

If payments are not made on time, they may be reported to credit reference agencies, which can lower your credit score and make future borrowing more difficult or potentially more expensive. 

When you apply for car finance, a lender may carry out a hard credit search, which appears on your credit file and can cause a small, temporary change to your credit score. This is a normal part of the application process and helps lenders assess whether finance is affordable and suitable for you. 

For more information about how applications are assessed, read our guide on Credit Checks for Car Finance.

To apply for car finance with AutoMoney Trust, you'll usually need documents that help verify your identity, confirm your income and affordability, and validate your address. The exact documents we'll ask for will depend on your individual circumstances, but having the relevant information ready before you start your application can help make the process quicker, smoother and reduce the likelihood of delays.

You may need to provide proof of identity, such as a valid UK driving licence or passport, along with proof of income such as recent payslips or bank statements. You may be asked for proof of address dated within the last three months, as well as details of the vehicle you are looking to finance if you have already chosen one. 

If you are self-employed and applying for car finance, you may need to provide additional information, such as SA302 forms, tax calculations, or business accounts, to help demonstrate your income and affordability. 

The documents required can vary depending on your individual circumstances and application. Providing accurate details and having your documents available in advance can help speed up the car finance application process and reduce the need for additional requests. 

Yes, an 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. 

The main difference between fixed and variable car finance rates is whether the interest rate can change during your agreement. A fixed interest rate means your rate and monthly car finance payments stay the same throughout the finance term, giving you certainty over what you'll pay and making it easier to budget. In comparison, a variable interest rate can rise or fall over time, meaning your monthly payments may change. 

AutoMoney Trust offers fixed-rate hire purchase car finance only, so you know exactly what your monthly repayments will be for the full term of your agreement. While fixed rates may sometimes be higher than an introductory variable rate, they provide protection against future interest rate rises and make it easier to plan your finances with confidence. 

When comparing car finance options, it's important to consider not only the interest rate but also the APR, total amount payable, and the overall cost of borrowing. For more information read our guide on What Is Car Finance APR?.