Representative Example: Cash price £11,000. Deposit £0. Total amount of credit £11,000. Borrowing £11,000 over 60 months at a fixed rate of interest of 19.8% p.a., with a first monthly payment of £290.40, followed by 58 monthly payments of £290.40 and a final payment of £489.40, including a £199 option to purchase fee. No admin fee payable. Total amount payable £17,623. 22.1% APR Representative.
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.
If you fall behind on payments, AutoMoney Trust will contact you to discuss your situation. Continued missed payments can result in default interest, reminder letter fees, and a record on your credit file for up to six years. If arrears remain unresolved, the agreement may be terminated and the vehicle could be repossessed, though under UK law, once you have paid one-third of the total amount payable, we need a court order to take the car back. You may still owe money after repossession if the resale value does not cover the outstanding balance. For support, visit our Existing customers page or contact us early to avoid this.
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.
Yes, under section 99 of the Consumer Credit Act 1974, you have a legal right to voluntarily terminate your hire purchase agreement once you have paid at least 50% of the total amount payable. If you have paid less, you can still apply, but you would need to cover the difference. You must return the vehicle in reasonable condition and clear any arrears. Voluntary termination may still appear on your credit file. If you are unsure whether it is right for you, speak to our team before proceeding, as other options may be available.
Representative Example: You could borrow £10,699 over 60 months with an initial payment of £495.89 (including £199 Admin Fee) followed by 58 monthly payments of £296.89 with a final payment of £495.89 (including optional £199 Option to Purchase Fee). Total amount repayable will be £19,012,40. 26.1% APR, annual interest rate (fixed) 13.3%.
