Yes, AutoMoney Trust customers can request a change to their monthly payment date, although restrictions apply to how many times this can be done during the term of your agreement. Moving the date may affect the total amount you repay, because additional interest can accrue between the original and new payment dates. To discuss your options, speak to AutoMoney Trust before the next payment is due. If you are also worried about affordability rather than timing, it is worth reviewing the support available for existing customers and checking how repayments may be affected using the finance calculator.
If you think you may struggle to make your next car finance payment, contact AutoMoney Trust as soon as possible, ideally before the payment is due. Reaching out early gives our team time to discuss your situation and may open up support options such as a short-term payment arrangement or signposting to free debt advice services. Missed payments can affect your credit file and lead to further fees and default interest, so acting quickly helps protect your agreement. We treat every conversation in confidence and will work with you to find a sustainable way forward.
Late or missed AutoMoney Trust car finance payments may be reported to the main UK credit reference agencies and can remain on your credit file for up to six years. This may lower your credit score and make it harder to borrow in the future, with lenders potentially offering higher rates or declining applications. The impact depends on how late the payment is and whether arrears continue. If you are struggling, it is better to contact us early than to miss a payment, as we may be able to help. For more detail on how lenders review applications, see our guide to credit checks for car finance.
Your loan term directly affects both your monthly payments and the total cost of borrowing. A longer term, such as 60 or 84 months, spreads the cost over more payments, lowering the monthly amount but increasing the total interest you pay across the agreement. A shorter term, such as 24 or 36 months, means higher monthly payments but a lower overall cost. AutoMoney Trust offers terms from 24 to 84 months, so you can balance monthly affordability against total cost. Use our finance calculator to compare different term lengths before applying.
AutoMoney Trust does not charge early repayment fees, so you can settle early without penalty. Under the Consumer Credit Act 1974, you are also entitled to an interest rebate when you repay ahead of schedule, which reduces the total amount owed compared with continuing the agreement. To settle early, request a settlement figure from us, this is valid for 28 days and represents the full amount needed to close your agreement. Other lenders may apply early settlement charges or different rebate calculations, so always check your agreement before settling. For wider information around selling a financed vehicle, see our guide on Selling a Financed Car.
