Already have a car loan? See if you could save money by switching to Carmoola!
Car refinance is the process of taking out a new finance agreement so you can pay off your current loan and switch to a new lender, usually with lower rates and better terms.
If you’re thinking about refinancing your car loan, read on and see how easy
it is to switch with Carmoola.
Did you know that you can switch your car loan anytime? Just grab your early settlement quote and see how much you can save. With Carmoola, you can switch in under 10 minutes, all from your smartphone. Need help? Check out our early settlement calculator.
In a few questions, find out your new rate and budget for refinancing
Pay your settlement quote with your Carmoola card or by bank transfer
It's clear there’s a lot of energy behind this company. So quick to refinance my vehicle. They must have some impressive automation. Honestly if you like a smooth experience, this is the place to get it.
Thinking about refinancing your current deal? Try our car refinance calculator to see what your new deal might look like. We’ve included helpful things such as how much interest you’ll be paying, how much your car new payments might be each month, and what your APR might be based on how you think your credit profile is doing.
NEW DEAL Breakdown
Final payment of
Total cost of credit
Option to purchase fee
For illustration purposes only. The rate and budget you may be offered will be based on your individual circumstances. This is not an offer or a quote for finance.
Borrowing £10,000 over 54 months with a representative APR of 14.8%, an annual interest rate of 14.8% (Fixed) and a deposit of £0.00, the amount payable would be £250 per month, with a total cost of credit of £3,500 and a total amount payable of £13,501, including a one-off Option to Purchase fee of £1.
We offer hire purchase loans between £2,000 - £40,000 at a personalised
APR between 6.9% and 24.9%
Add details about your current contract and finance provider
Test drive contract length, credit profile and monthly payments
Add details ☝️ about your current contract and see if you might be able to save money by switching!
Download the Carmoola app to get your personalised refinance quote, and see how much you could save!
The Carmoola app puts you in control,
so no more waiting on hold to a call centre!
Missed a payment? No worries, you can catch up easily in the app
Easily update your debit card details in the app if you need to
You can make extra payments to pay off your loan faster, with no fees!
Anyone can switch their existing car loan by getting an early settlement quote.
With Carmoola, you can switch in under 10 minutes, all from your smartphone.
“The easiest application for car finance I’ve ever had. Even the garage I purchased from was impressed at how quick the process was! Would recommend to anyone.”
“This is the best car finance company I’ve ever dealt with, they are the meaning of hassle free and I can guarantee they’ll be lower than you current finance on interest rates.”
“Went from a few questions answered honestly and quickly over whatsapp. To signing my refinance agreement and my existing finance company getting paid in under 2 hours. Simple, easy and stress free experience.”
“Applied for finance and literally was asked a few questions the day after to clarify some things. The same day I went through the dealership and car was ready to drive home the same day. Superb company and communication and the app is great.”
“Easy to use the app and very helpful staff. I also was given the best deal that nobody else could offer me. Thanks team Hanan, Kayleigh and Tom.”
Frustrated with your current finance company, or paying too much each month? You may want to consider refinancing over to a new deal. Got more questions? Head over to our FAQs page 👍
Yes. This is exactly what refinancing is for. Think of it as a similar process to a remortgage, or switching utilities providers. When you switch, you can set up a new agreement with payments and a term that suits you.