You’ve got questions, we’ve got answers

Carmoola is the new way to pay for or refinance a used car. In just 3 simple steps, you'll find out your budget, run a free history check on your car, and then be ready to pay online or at the showroom.

Carmoola provides Hire Purchase car finance, which means you can buy your car now, and pay it back monthly over 1 to 5 years.

Already got car finance? See if we can get you a better deal 😎

To get started, download the Carmoola app and start your application!

No, we don't. At the moment we only offer Hire Purchase car finance.

Yes, you can! You'll need to grab a letter from your provider containing the registration and balance along with their bank details. It's really easy, and means you can continue to pay monthly for your car. At the end of your agreement with us, you'll own the car outright 😎

Yes! You can use Carmoola to refinance your existing loan. All you need to do is follow the steps in the app to see how much you can save. It's super easy to do and you can refinance the same day if you'd like!

To speed things up, make sure to grab an Early Settlement Quote from your existing lender 🕺

Carmoola is a direct-to-consumer lender, you'll deal with us for the duration of your loan. We're authorised and regulated by the Financial Conduct Authority, you can find our firm details on their website, under Carmoola Limited.

If you want to know more about what our customers think of us, check out our Trustpilot reviews ⭐️

Carmoola works with a hand-selected number of partners who help us reach more customers by advertising on their websites. This typically involves Carmoola paying these partners for this introduction. When there is a commission payable, we will always let you know prior to you signing any agreement. You can contact us at any time if you want to know more, including the amount of any commission.

When you apply we'll tell you whether you’ve been approved and how much you can borrow. At this point, we will only run a 'soft credit search', which will not affect your credit score. However, we'll run a full credit check, or 'hard credit search' if you choose to sign your Carmoola agreement, which may impact your credit profile.

To complete your application with Carmoola, you'll need to add your driving licence. We can accept some international driving licences, provided they have the security measures we require. The best way to find out if it will work is to try!

Currently, we cannot accept passports, international ID cards, or provisional driving licences.

Make sure that you're using the right form of ID. If you believe we've made the wrong decision, get in touch with our support team so we can review your application. If we've made a mistake, we'll reset this step for you so you can try again. Some common issues include expired licences, poor document image quality, and selfie videos captured in poor lighting.

Yes you can still be rejected. If you've been pre-approved on a comparison site, this means that we guarantee that rate and budget for you, based on the information you have provided so far. As with all other lenders, this offer is still conditional and we will carry out additional checks such as fraud, identity, income verification and responsible lender checks.

The vast majority of customers who receive a pre-approved offer will go on to be 100% approved after they come through to Carmoola. If you are one of the customers we sadly can't help at this stage, rest assured we have only run a "soft credit check", meaning your credit score will not have been impacted, and you're free to apply with other lenders.

We currently don't offer the option to do a joint application. If you're looking to get a car between two of you, make sure the person that applies has a full driving license, and the car will need to be registered in their name with the DVLA.

Your budget and rate are locked in for 30 days, from the date you first get a budget. Once you sign your agreements, we'll also give you an additional 7 days to complete the purchase.

You can see in the app exactly how much time until your application expires.

If your application expires, you'll need to start the process again and it's important to note that we cannot guarantee the same rate and budget as before. We will review your creditworthiness and affordability again.

If you decide you don't want to take your loan up with us, that's no problem. If you haven't signed your loan agreement yet then we will have only run a "soft credit search", which means your credit score won't be affected.

If you've paid for the car, please let us know so we can provide you with details regarding your options.

If you’re within the first 14 days of entering a credit agreement you’re still within the cooling-off period where you’re legally allowed to change your mind and walk away from the agreement. Bear in mind you will still need to return the funds to Carmoola, and as these are typically tied up in a specific car you will need to get in touch with the dealership to discuss next steps.

You may well be able to work with the dealership to agree to accept the return of the car and get the funds refunded however this is at the dealer’s discretion and may put any deposit amount at risk.

If you also want to delete your account, open the app and tap on your initials on the top left. Scroll to the bottom and tap on Close and Delete My Account. Please note, if you have an active loan with Carmoola then you cannot delete your account.

All you need to do is add your payment details and then you can proceed to checkout. If you're buying in a local dealership, you'll need to tap on Pay By Bank Transfer to send the payment to the dealership.

If you've already seen and test driven the car, we'd recommend paying by bank transfer at least 24 hours before you're hoping to collect it, so everything runs smoothly on collection day.

If you're buying online, please reveal the Carmoola card details and use it like it's your own debit card.

We can't always automatically verify your income, so we may ask you to link your bank account. This is a totally safe and secure process, and saves you the hassle of sharing PDF bank statements! We don't see or store your bank details, and can't take any action with the account you've linked ✅

If you bank with Metro Bank, Chase Bank, or Starling Bank, or don't have online banking, then you may not be able to connect your bank account in order for us to verify your income. In this case, you can skip this step, and email us over your last 3 months' bank statements to support@carmoola.co.uk. These must be in PDF format and show your income being paid into your account.

Great news, if you think you’ve made a mistake during your application then you can now reset your application once. Head to your profile page on the app to get this option.

We have a list of over 9,000 approved dealerships across the UK, which we've reviewed against some strict criteria.

If you'd like to buy from a dealership that's not on our list, please send us the name and website of the dealership so we can review them. If the dealership meets our criteria, we'll get them added to the app in a matter of minutes. We can’t currently help you buy a car from a private seller.

Used cars (no vans, motorbikes or new cars) 

Less than 100,000 miles on the clock

Petrol, diesel (from Sept 2015 only), hybrid or electric cars

Less than 15 years old by the end of your agreement

Cars sold at one of our approved dealerships (no private sellers, unfortunately)

We also run a full history check to ensure the car has no other issues such as being written off, marked as stolen, or other things that will negatively impact its value.

The amount we can lend you can change based on our valuation of the car, your monthly affordability, and the car’s age.

A car must be less than 15 years at the end of your agreement, so picking a slightly older car may mean that the agreement length we offer you is shorter. This may also restrict your total budget, if the shorter agreement length means the monthly payments become unaffordable.

Another reason your plan may change is due to our valuation of the car. Your loan is secured against the car, so its value will change the amount we can lend you. For example, we can’t lend you £15,000 to buy a car that's only worth £5,000.

Please send over the name and website of the dealership so we can review them. If the dealership meets our critiera, then we'll get them added for you as soon as we can!

Yes, we're here to help you pay for your car every day, between 8am and 9pm.

If you're buying a car online you can simply follow the checkout flow and buy your car at any time using the Carmoola card, as if it's your own debit card.

If you're buying at a local dealership, the most fun way to pay is by adding your Carmoola card to your Apple or Google Wallet, and pay with a contactless payment!

You should be aware of a few things: Some dealerships may prefer a bank transfer (which you can request in the app too), but do not have their finance team available to confirm receipt of payments on the weekends, so you may have to wait until Monday if you use this payment method.

Some dealerships will need a day or two to prepare the car and run final checks on it before you can drive it away.

Some dealerships may want you to see the car before buying it, and we'd recommend this too so you can make sure it lives up to your expectations.

Where possible, we'd recommend paying by bank transfer at least 24 hours before you're hoping to collect the car, so there are no delays.

If you're buying from a dealership, we recommend viewing and test driving the car before you pay for it. Make sure that you are happy with the condition, and you've identified any issues to be resolved by the dealership before you pay for the car.

If you've made any arrangements with the dealership, make sure you have these in writing. The dealership should give you the new keeper slip, and if you've purchased or been given a warranty with the vehicle make sure you get copies of the paperwork from the dealership.

You should always check the dealership's returns policy and any reviews from customers who have purchased from them previously.

Firstly, don't panic! If a payment is declined, our support team are alerted and will be in touch with you by phone to get it resolved. If this happens after 9pm then we will get in touch with you first thing in the morning and will help you with the next steps.

No. Your virtual card can only be used to pay the full amount, directly to the dealership. If you'd like to reserve a car, you can pay for this yourself using another card, and edit the amount you're borrowing from us accordingly in the app.

Yes, you'll be able to generate a quote for this at any time in the Carmoola app. Early Settlement Quotes are valid for 28 days, and you will be due an interest rebate for paying off your loan early. However you will still be charged interest for the duration of the settlement quote (28 days) and one additional month's interest.

Yes, you can make overpayments in the app. Go to the 4th tab and tap 'One-Off Payment'. Once you've made more than 2 months worth of overpayments we'll get in touch and give you the option to either reduce your monthly payment moving forwards or to reduce the length of your loan.

If you make a large enough overpayment in the app, you can choose how you'd like to apply it yourself.

Please remember, overpayments are over and above your normal monthly repayments.

If you're ready to make your payment, you can retry it yourself in the app. Alternatively, tap on Explore More Options and see the other payment methods available such as bank transfer, or one-off payment by credit card.

All you need to do is open the Carmoola app and click on the 4th tab. You'll be able to see the last 4 digits of your current card details, and you can tap to update to a new card.

When you add your payment details, you'll be able to choose when exactly you'd like to pay each month. We'll make sure your first payment is at least 14 days from when you pay for your car. We don't offer weekly payments currently, but if this is something you'd be interested in, please let us know.

It is taken via a Continuous Payment Authority (CPA) from your Debit Card. It means that your payment will always be taken on exactly the scheduled date, regardless of bank holidays or weekends. This is different from a Direct Debit so when you get a new card, you'll need to update your details in the app 😊

Carmoola is the legal owner of the car during the agreement, and you'll be the registered keeper, so your name should be on the logbook (or V5C). At the end of the agreement, once you've paid all the sums due, you'll pay the Option to Purchase fee of £1 which legally transfers ownership to you. We automatically add this to your final payment.

No, on a Carmoola Hire Purchase agreement there are no restrictions on the number of miles you can drive each year. Please note, it is your responsibility to keep the car in good condition.

If you'd like to take the car on holiday outside of the UK, you'll need to get our permission first. We'll consider all the facts in each case, including where you’re taking the car, the length of time you'll be out of the UK, and whether you’re up to date on your payments. Where the request is reasonable, we’re very unlikely to refuse!

Unfortunately, we currently only allow one active loan at a time. However, if you want to upgrade or switch your vehicle, we’ve made the process easy! Simply go to the vehicle tab in the app to check your car’s estimated value against your Early Settlement Quote. From there, you can start a new application to see if you're eligible for a loan on a different vehicle.

If the estimated value of your current vehicle is less than your Early Settlement Quote, you’re in negative equity. Carmoola may be able to help cover some of your negative equity in the new loan, however, we can only finance the current value of the new vehicle, so if the negative equity, plus the cost of the new car are higher than its value, we won’t be able to help.

You can now look to upgrade or swap your car in the app. Head to the vehicle tab in the app to check the estimated value of your current vehicle against your Early Settlement Quote. Once you’ve checked that, you can start a new application with us to see if you’d be eligible for another loan on a different vehicle!

If the estimated value of your current vehicle is less than your Early Settlement Quote, you’re in negative equity. Carmoola may be able to help cover some of your negative equity in the new loan, however, we can only finance the current value of the new vehicle, so if the negative equity, plus the cost of the new car are higher than its value, we won’t be able to help.

You can update your address in the app! Just head to your profile and under Personal Details you’ll see the option to edit your address. Please note that if you’re currently applying for a loan and update your address, your application will be reset to the start.

Just let our support team know what the new details are so we can update our records.

If you're not happy with the car and want to return it then you'll need to speak directly to the dealership or website you bought it from.

With your Hire Purchase agreement, Carmoola is the legal owner of the vehicle and you're the registered keeper. If it's not clear from the options provided you should reach out to the insurance company directly so they can clarify for you.

You should let us know immediately, and let your insurer know that the vehicle is owned by us. We'll provide you with an Early Settlement letter which you must share with your insurance company. They will make the payment for the car directly to us using the details in the letter we'll provide you with.

If you have any payments due in the meantime you are required to continue making them. Once we've received the funds, we'll get in touch.

If the amount we receive from them is more than the settlement figure, we'll refund you the difference. If we receive less, you'll need to send us the outstanding balance to settle your loan.

If you're experiencing problems with the app, please let us know, and send as much information about the issue as possible. This may include screenshots or details about your account or device. Before you do that though, you may be able to resolve the issue yourself by trying these steps:

1. Hard close and re-open the app
2. Delete and re-install the app
3. Check your WiFi, 4G or 5G network strength

Open the app, tap on the top left corner to open your 'profile screen'. Scroll to the bottom and tap on "Close and Delete My Account'. Please note, if you have an active loan with Carmoola then you cannot delete your account.

You can manage your communication preferences in the app, or by clicking the link at the bottom of any email we send you.

Some email communications from Carmoola are mandatory because they relate to important information about your account, and you cannot unsubscribe from those.

If you've applied for car finance through us, or on a comparison site such as Compare the Market or MoneySuperMarket, etc, we may have completed a "soft credit search" on your credit file to see if we can offer you a budget for your next car. If you haven't, and you're concerned someone has applied using your details, please contact our support team who can help further.

You can update your email address in the app! Just head to your profile and under Personal Details you’ll see the option to edit your email address.