Whether you are financing a car for the first time, have been refused car finance elsewhere or are simply exploring your options before committing to anything, AutoMoney Trust is here to help. We are a direct hire purchase lender, FCA-regulated, and rated 4.7 out of 5 by our customers on Google. Your initial application uses a soft credit search that will not affect your credit score, there is no deposit options available, and repayment terms run from 36 to 84 months. Most applicants get a decision within minutes. We consider applications from customers with adverse credit.
Hire purchase (HP) is one of the most popular and straightforward ways to finance a used car in the UK. You borrow a set amount, make fixed monthly repayments over an agreed term, and once you have made all your payments including the final option to purchase fee, ownership of the vehicle transfers to you outright.
AutoMoney Trust is a direct HP lender. There is no intermediary making decisions on your application. When you apply, you deal directly with our team, and if approved, your agreement remains with us for the full term, leaving you with no uncertainty about what you owe each month, and no hidden decisions to make when your agreement finishes.
You can borrow between £4,000 and £25,000, with repayment terms from 36 to 84 months. Before you apply, it is worth using our finance calculator to see what different loan amounts and term lengths could mean for your monthly payment.
HP and PCP are the two most common ways to finance a car in the UK, but hire purchase and PCP work differently and suit different needs.
With HP (Hire Purchase) car finance, you spread the cost of the vehicle through fixed monthly payments over the term of your agreement. Your monthly payments include the interest charged on the finance. Once you have made all of your payments, along with the option-to-purchase fee, ownership of the vehicle will transfer to you at the end of the agreement.
With PCP, monthly payments are typically lower because they only cover part of the car's value. At the end of the agreement you have three choices: hand the car back, pay a large balloon payment to buy it, or use any equity to part-exchange into a new deal.
AutoMoney Trust only offers Hire Purchase finance agreements. HP provides a straightforward way to finance a vehicle, with fixed monthly payments over an agreed term and no optional final balloon payment. Once all payments have been made, along with the option-to-purchase fee, ownership of the vehicle will transfer to you.
For a full side-by-side breakdown of both products, visit our HP vs PCP comparison guide.
To apply for HP car finance with AutoMoney Trust, you will need to meet the following criteria:
We also consider applications from customers with adverse credit and those who are first-time buyers and new drivers getting their first car on finance. If you are unsure whether you are eligible, the best way to find out is to apply. Your initial application uses a soft credit search, so it will not affect your credit score if you are not approved.
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Applying for HP car finance with AutoMoney Trust is quick and straightforward. The whole process can be completed online and most applicants get a decision in minutes. Here is what to expect from start to finish.
Complete our short application form. It only takes a few minutes. At this stage, we use a soft credit search, which will not affect your credit score.
A member of our team will explain your HP agreement in plain language, including your monthly payment, interest rate, full term length, and any fees. Take as much time as you need before deciding.
AutoMoney Trust works with a network of trusted dealerships across the UK. Once your finance is confirmed, you can choose your vehicle from a wide range of makes and models.
Before signing, we'll make sure you understand your car finance agreement. Read it carefully and ask if anything is unclear. Remember, an HP finance agreement is a legal and financial commitment.
Once your application has been fully approved and everything has been finalised, there may be nothing left to do except collect your new car. You could even drive away the very same day.
For a more detailed walkthrough of each stage, visit our guide to applying for car finance. Or get a idea about monthly repayments using our finance calculator.
Even if we can’t approve your application right now, our friendly team may still be able to explore other options that suit your needs.
Being refused car finance by one lender does not mean every lender will say no. Different lenders use different criteria, and a decision from one tells you very little about what another will decide.
AutoMoney Trust considers applications from customers with adverse credit. We look at your broader financial picture rather than making a decision based solely on a credit score. This includes customers who have been declined elsewhere.
One of the most important things to understand about applying with AutoMoney Trust is how our credit search works. When you first apply, we carry out an initial soft search and has no effect on your credit score, regardless of the outcome. Only if you choose to proceed with an approved offer does a hard search take place.
This means you can find out whether you are likely to be approved without any impact to your credit score. For customers who have already experienced a refusal, that peace of mind matters.
If you want to understand more about why applications get refused and what steps you can take, our guide to what to do if you have been refused car finance covers the topic in full.
AutoMoney Trust may be able to offer Hire Purchase finance without the need for a deposit, subject to status and affordability checks. This means that, if approved, you could finance your vehicle without making an upfront deposit. You can borrow between £4,000 and £25,000 and spread the cost over a term of 36 to 84 months.
No deposit car finance can make a vehicle accessible when you do not have savings available. It is important to make sure the monthly payments are genuinely affordable for the full length of your agreement before signing. Our finance calculator lets you test different loan amounts and term lengths so you can find a payment that works for your budget before you apply.
For a full breakdown of how zero deposit car finance works and what to watch out for, visit our zero deposit car finance options guide.
Over £125m has been financed through AutoMoney Trust, we support more than 10,000 customers monthly, and we are rated 4.8 out of 5 on Google. At AutoMoney, we aim to provide clear and ongoing support throughout the life of your finance agreement, not just at the start of your journey.
We do not make decisions based solely on automated scoring systems. When you apply, your application is reviewed by a real member of our team. That human element matters, particularly for customers whose circumstances do not fit into a standard scoring model.
We look at your full financial picture and consider applications from customers who have struggled to get finance elsewhere, including those with poor credit.
We offer a wider range of repayment terms than many lenders. A 36-month term means you pay less interest overall and own your car sooner. An 84-month term spreads the cost further and lowers your monthly payment. Use our finance calculator to find the right balance for your budget.
AutoMoney Trust uses a soft credit search when assessing your initial application. This allows us to review your eligibility without carrying out a full credit search at this stage. Soft credit searches are not visible to other lenders and do not usually affect your credit score.
AutoMoney Trust is authorised and regulated by the Financial Conduct Authority (FCA Firm Reference Number 912573). We are committed to treating customers fairly, acting transparently, and putting your interests first throughout your agreement. We have never used discretionary commission arrangements, and the amount you pay is not influenced by any broker or dealer involved in your application.
Thinking about applying for a hire purchase agreement with AutoMoney Trust? Here are a few important things to consider before getting started:
Hire purchase is a legal and financial commitment. Before signing any agreement, make sure you understand what you are agreeing to and that the payments will remain affordable for the full term.
If your PCP agreement is ending and you want to keep the car but cannot cover the balloon payment, we may be able to help by refinancing it into an HP agreement. Even if you have been declined elsewhere, AutoMoney Trust may be able to find a solution. Visit our guide to refinancing a PCP balloon payment for more information.
You are entering a legally binding agreement. A monthly payment that feels comfortable today needs to remain comfortable for 36 to 84 months. Take your time, use the finance calculator, and make sure you are confident before signing your agreement.
Used cars depreciate and some models do so faster than others. It is worth considering this when choosing a car, particularly if you are borrowing close to the vehicle's current market value. You can compare HP to other borrowing options in our guide to hire purchase versus personal loans.
Until you have made all your payments and paid the final option to purchase fee, the vehicle legally belongs to AutoMoney Trust. You cannot sell it during the agreement without first settling the finance or having obtained approval from AutoMoney to sell the vehicle.
Before signing your documents, make sure you fully understand the terms and conditions of your car finance agreement. It’s important to check that the monthly payments will be affordable for the duration of the finance term.
If you are introduced to us through a car finance broker or dealership, we will pay them a commission for referring you to us. Don’t worry, we’ll always tell you when a commission is being paid, how much it is, and how it’s calculated. This will be clearly shown in your documents and explained verbally by our team.
The commission is completely separate from your car finance agreement and will not affect the total amount you pay. Any commission we pay is set at a fixed rate and is not influenced by the dealer or broker who introduced you to us.
One of our team members will walk you through this and ask for your consent before your agreement in finalised.
Yes, car finance may still be available with poor credit, although approval depends on your wider financial circumstances rather than your credit score alone. AutoMoney Trust specialises in helping customers who have been declined elsewhere, including those with CCJs, defaults, or limited credit history. We assess affordability, income stability, and current commitments alongside your credit file. Poor credit may mean a higher interest rate or a smaller borrowing amount, but it does not automatically rule you out. You can explore finance options by completing a short online application, with a soft search that won't affect your credit score.
With Hire Purchase, you pay the full vehicle value across fixed monthly payments, then own the car outright after a small Option to Purchase Fee. With PCP, monthly payments are typically lower because you only pay off part of the car's value, with a large optional balloon payment at the end if you want to keep it. PCP often has mileage limits and condition charges; HP does not. AutoMoney Trust offers Hire Purchase only, as it provides predictable costs and guaranteed ownership for customers buying used cars.
AutoMoney Trust hire purchase agreements include one standard fee: paid alongside your first monthly payment an Option to Purchase Fee of £199, only payable at the end of the agreement if you decide to keep the car. Both fees are detailed in your agreement. Additional charges, such as reminder letter fees or default interest, may apply if payments are missed, full details are listed in our arrears fees and default interest schedule. AutoMoney Trust does not charge early repayment fees if you choose to settle your agreement ahead of schedule.
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.
