You’ve got questions, we’ve got answers

Everything you need to know about using Carmoola and car finance



Frequently asked questions

Learn more about Carmoola

How does Carmoola work?

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!

Do you offer PCP?

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

Can I pay my PCP balloon payment with a Hire Purchase agreement?

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 😎

Can I use Carmoola to refinance my current loan?

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 🕺

Is Carmoola a proper car finance company?

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 ⭐️

Applying with Carmoola

Is my credit rating affected when I apply on Carmoola?

No, we only run a "soft credit search" to see if you'd be approved and find out your budget, so it will not affect your credit score when you apply. We only run a "hard credit search" when you've signed your Carmoola agreements and are ready to buy your car.

What IDs do you accept?

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.

Can I be rejected if I get a pre-approved offer on a comparison website?

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.

Can we do a joint application?

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.

When does my application expire?

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.

How do I cancel my application?

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 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.

The app declined my ID, what should I do?

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.

I've signed the agreements, what do I do now?

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.

Why do I need to link my bank account?

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 ✅

I can't connect my bank account, what should I do?

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 These must be in PDF format and show your income being paid into your account.

Buying your car with Carmoola

Where can I buy my car from?

We have a list of over 7,000 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 don't currently work with private sellers.

What can I spend my Carmoola budget on?

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 12 years old by the end of your agreement

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

I want to buy from a dealer but they aren't on your list, what should I do?

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!

Can I buy my car on the same day?

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.

If you're buying at a local dealership you should be aware of a few things: Some dealerships do not have their finance team available to confirm receipt of payments on the weekends, so you may have to wait until Monday.

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.

What should I look out for when buying a car?

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're buying online, you'll have 14 days to ensure you're happy, under Distance Selling Regulations.

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.

I tried to pay but my card was declined, what happened?

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.

Can I pay a deposit with my Carmoola card?

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.

Making payments with Carmoola

Can I pay off my loan early?

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.

Can I pay more than my monthly repayment?

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.

My payment didn't work, can I retry?

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.

How can I change my bank details for my monthly payments?

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 will my first repayment be?

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.

How is my monthly repayment taken?

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 😊

Your Carmoola Agreement

Who owns the car?

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.

Are there any mileage restrictions?

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.

Can I take my car on holiday outside the UK?

If you'd like to take your car on holiday somewhere outside the UK then you need to let us know. Provided you are keeping up with your monthly payments, then there would be no reason for us to refuse your request.

I'm already a Carmoola customer, can I take out a second loan?

Unfortunately, this isn't a feature we have at the moment, so you can only have one active loan at a time.

I've moved house, how do I update my address?

Please let our support team know if your address changes.

I've put my personalised number plate on, how do I update my details?

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

I want to return my car, what happens to my Carmoola agreement?

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.

Dealerships have varying policies on returns/refunds so please check with them first. If you paid by bank transfer at a local dealership, please arrange for the dealership to return the funds directly to us. We can provide you with bank details for this and if the dealership needs an email confirmation from us we are happy to do this too.

If you paid for your car using the virtual card online, then once you arrange the return/refund the funds will usually be transferred directly back to us.

It can take several days for dealerships to process your refund, but once we receive the funds back we will undo your loan (as if it never happened) and you can start your application from scratch again, and find another car.

Please be aware that when you start your application again we will run all our checks again, so if something has changed in your affordability or credit profile then this could affect the rate and or budget you may be offered.

Can I exchange the car if I'm not happy with the one I bought?

Unfortunately not at the moment. Your Carmoola loan is secured against the vehicle. In order to change the vehicle you would need to return the funds borrowed, we would undo the loan, and you can start your application on the new vehicle. Please get in touch with us if you need more help here!

Who should I put down as the owner on my insurance details?

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.

I have a loan with you and my car has been written off / stolen - what should I do?

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.

Account, profile and preferences

I can't get in to the app, how do I reset my PIN?

Open the app and click 'Log in', select 'Forgot your pin?' and put in your mobile number registered with us. We'll SMS you a code and you can reset your pin.

How do I report a problem with the app?

If you're experiencing problems with the app, please get in touch with our friendly support team and send as much information about the issue as possible. This may include screenshots, or details about your account or device.

How do I delete my account?

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.

How do I unsubscribe from Carmoola emails?

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.

Why is there a soft search on my account when I haven't applied with Carmoola?

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.


Helping you

5 ⭐️ help and support

Got a question? Our friendly, UK-based team is here from 8am - 9pm EVERY day, via WhatsApp, email, SMS or phone.

Got a complaint?

Have you got a complaint
or something to report?

Complaint Policy

Still got questions?

We’re available in the app via WhatsApp or SMS, or you can email us here


The greatest thing about carmoola is their customer service. It is the most prompt. The way they process your information is so smooth. Definitely coming back to use it for financing my next car.

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Excellent customer service. Very fast and efficient accepting my application and super fast process once I found my dream car. Love it and have already and will continue to recommend to others. I love them.

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The customer service was exemplary. They followed up on calls and checked to see that everything was as expected. They stick to deadlines but most of all they get you your car as promised! Highly recommended and appreciated.

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I had a great experience with Carmoola. The whole process was easy and fast that in a day a had my car. The customer service is great.

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This is the first time I’ve used a car finance company and the service I received was great. From the first online application to a recent phone call. So easy to use the app and instant decision. Would definitely recommend and use this company again.

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