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Autofunder acts as a credit broker, not a lender.

Car finance from our trusted providers

Finance Your Next Car With The Following Steps
Need a new car? Finding out if you qualify for finance.

Complete our form

To find out if you qualify for car finance, and for how much, complete our assessment form.

Our partners search the market

Through our strategic partners, they search a large panel of reputable lenders to source the best car finance deal.

Choose your car

Once you have been accepted, you're good to go. Head over to any reputable dealer and choose your car.

Why Use AutoFunder.co.uk?

AutoFunder.co.uk is used by 1000s of people every month. AutoFunder.co.uk makes the process of purchasing a new car fast, simple, and convenient.

Borrow from £4,000 to £25,000 over a term to suit your budget and requirements. Got a history of bad or impaired credit? Not a problem. We may still be able to help.

To find out if you qualify, simply click the "Apply Now" button below, complete our short form, and leave the rest to us.

Why Use AutoFunder.co.uk

Representative Example

Representative example: borrowing £6,000 with £1,000 deposit over 48 months, with a representative APR of 21.6%, an annual interest rate of 22.1% (Fixed), the monthly payment would be £152.51. The total cost of credit would be £2,320.44, and a total amount payable of £7,320.44.

Rates from 9.9%: The exact rate you will be offered will be based on your circumstances, subject to status.

Car finance with a monthly repayment of £120.00 could be achieved with one of our car finance credit brokers. £120.00 a month is based on a loan value of £4900 over 5 years with a fair credit score. All applications for finance are subject to your individual financial circumstances and the financial providers criteria.

Autofunder acts as a credit broker, not a lender.

To Give You Total Peace Of Mind
If you are applying for car finance online, it is important that you choose a reputable company. Before you apply, here's a little bit of information to put your mind at ease:

We are registered with the ICO:

We are registered with the Information Commissioner's Office (ICO) under number ZB053626.

We are GDPR compliant:

We fully comply with UK data protection laws, specifically our responsibility to our customers under the GDPR. We are always clear and transparent with regard to how your data will be processed.

man standing at car

Question about Car Finance? Read on...

Whether you're looking for a van to help your business, a motorbike for a leisurely Sunday ride, or you're finally biting the bullet and getting that car you've always said you would, AutoFunder.co.uk may have the solution for you. However, it has come to our attention that people aren't always aware of the ins and outs of car financing, so we've decided to put together some helpful information to help you get your dream ride.

What Is Car Finance?

Probably the best place to start, car financing or a car loan. In a nutshell, it's a loan that you take out for the sole purpose of purchasing a car, but in a way that is designed to make the process more affordable.

Although there are numerous options available, the most common of these is to put down a deposit and then pay monthly instalments, generally over a period of 3-4 years.

Most lenders will have an option to buy the vehicle outright; however, with car financing payments they do tend to be more spread out.

What Type of Car Finance Can I Get?

There are many different types of car finance payment plans available. We could write them all down, but that would become very boring very quickly, so instead we've picked the three most common and summed up how they work.

Personal Contract Purchase (PCP): With PCP car finance, it's pretty straightforward. You pay a deposit at the start of the purchase, then go on a fixed monthly plan similar to that of a phone or gym contract.

The more deposit you pay, naturally, the lower the monthly repayments will be.

At the end of the agreement, you have the option to either buy the car outright, opt for a different car, or return the car to the lender.

If you wish to own the car outright, you will need to pay a lump sum to the lender, which is known as the Guaranteed Minimum Future Value (GMFV). The amount of the GMFV is agreed upon at the start of the contract and is based on various factors, including the starting mileage, the user’s projected annual mileage, the age of the car, the agreed monthly payments and the length of the contract.

Should you want a different car at the end of the term, it’s normally possible to trade in the old car for a new one. Any good car retailer should be able to settle the finance on your behalf and arrange another finance agreement for your next model.

If you no longer want the car, you simply return it to the lender, with no more monthly payments to make. Bear in mind that charges for damage (beyond fair wear and tear) and exceeding the pre-agreed mileage limit may apply.

Hire Purchase (HP): A HP agreement also allows you to pay for your car monthly over a fixed period. However, unless the agreement is set up to include a balloon payment (A chunk of money you pay at the end of the loan), at the end of the term, the monthly payments are likely to be higher than a PCP agreement. The interest rate and monthly payments are fixed at the start of the agreement, and the car becomes yours once you’ve made the final monthly payment. In effect, the vehicle is hired until you make your final monthly payment, after which you own it.

Personal Contract Hire (PCH): If you’re not looking to either buy the car at the end of the contract or change the car before the end of the contract, a PCH offers a type of long-term rental option that may suit you. You lease the car for an agreed-upon period of time by making fixed monthly instalments. When the contract expires, you simply return the car.

Personal Loan: A personal loan is an unsecured loan that is agreed upon between you and the lender, and after this is approved, the money is then transferred to the car dealer.

Eligibility rates are based on standard factors such as your income, credit status, and affordability. Always remember that this is an unsecured loan, so it is not secured against the vehicle.

Just to make things as easy as possible to understand and make sure you know exactly what type of car loan would be right for you, we've put the three finance types mentioned side-by-side in a table. This way, you can weigh up the pros and cons of each type of car finance, making the decision process a lot easier.

Monthly payments Monthly paymentsNo-deposit optionDo you own the car at end of contract?Excess mileage charges? Damage charges
PCP LowerOptional
HP Higher
PCH Lower

Am I Eligible for Car Finance?

Everybody is different, and with so many factors coming into play to consider eligibility, we can't give you a definitive answer right now.

A way to check is by completing our form Here and we will put you in touch with the most suitable provider for you

Can I Get Car Finance with Bad Credit?

Absolutely!

We are both a 'prime' and 'sub-prime' broker, which means that we specialise in helping people who have varying credit backgrounds, including those with a history of poor credit.

Although you will still be able to apply for car finance, the rates will be far less favourable if you have a poor credit history, so this is always worth bearing in mind.

How Much Does Car Finance Cost?

Just like with eligibility, there is no simple answer. Factors such as income, affordability, and credit history will play a part.
Also, much more obvious factors, such as vehicle model and deposit amount, will determine how much the overall cost will be.

A brand-new Ferrari, with the lowest deposit amount available, is going to cost far more in PCP monthly repayments than a second-hand Ford Escort with a sizeable deposit put down.

The quickest way to have this question answered is by clicking HERE and answering a few simple questions.

Where Can I Buy My Car From?

The simple answer to this is: from wherever you like! Once approved, you are free to choose your new or used vehicle from any reputable dealer located anywhere within the UK.

How Do I Apply for Car Finance?

So, you have an idea of what vehicle you would like to buy, but don't know how much finance you will be approved for. Or maybe you haven't got a clue what you want to buy and would simply like to know if are eligible for finance before you start your search. Either way, we can help.

Simply click the 'Apply Now' button above, and answer a few simple questions. We'll put you in touch with the most suitable lender and get you on the road in your new wheels as soon as possible.

Common Questions

If you apply for finance, our trusted providers will carry out a credit check before offering you a loan, and this will be logged on your credit file.

Yes, we are able to help a good number of people who have been refused car finance previously. To find out if you qualify, simply complete our short form.

Absolutely. You are not restricted in any way with regards to which dealership you buy from or where within the UK they are based. Once you have your approval, you are free to shop around.

You will receive an instant online decision. This is subject to the information that you provide. If you apply during business hours, then there is a high possibility that you will receive an application decision on the same day, with some lenders even being able to pay out on the same day (subject to status).