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Frequently Asked Questions:


What exactly is Car Finance?

Car Finance is where you enter into an agreement with a credit lender, enabling you to gain the funds required for your car of choice.


What types of Finance options are available?

Personal contract purchase (PCP) 
Typically with this option, you would provide a deposit and then pay monthly instalments for use of the vehicle. For the duration of the contract the ownership of the car would not belong to you, however at the end of the agreement you have the option to 1) Exchange the vehicle for a different one 2) End the contract and return the vehicle 3) Pay a final sum in order to keep the vehicle yourself. 

This is a good option if you want to keep monthly payments down and retain flexibility. 

Hire purchase (HP) 
With this option you would make a deposit on the vehicle you wish to purchase and then pay monthly instalments. For the duration of the contract, the vehicle is owned by the company you have made the agreement with, however at the end of the contract, the ownership of the vehicle will be transferred to you. 

This is a good choice of someone that wants to own their vehicle at the end of the contract. 

This option means that you will enter a contract to rent your desired vehicle. With this option, you do not own and are unable to purchase the vehicle, however periodically you will be able to swap and change to different options. 

This option is a good choice for someone who would like a vehicle for professional purposes or is simply wanting a higher quality transport than might be attainable on other contracts.


Am I able to finance a used vehicle?

Most vehicles can be purchased through Finance. If you want to check this further, simply make an enquiry on our site to see if we are able to match you to a finance provider.


Who is eligible to apply?

Anyone can apply through our website. With the information you include, we will try to match your details to a finance provider that is on our panel of lenders. 

All finance is subject to status and income. can introduce you to a limited number of finance providers, based upon your credit rating and will receive commission for such introductions.


Can I apply if I have a provisional licence?

Applications are welcome from people who have both full and provisional licenses. 
Some providers will have offers for people who hold provisional drivers licenses, where as others specialize in full driving licenses. 

At Autofunder, we will take your enquiry and try to find an appropriate Car Finance deal for you.


How much does an enquiry cost?

Autofunder is a credit broker and not a direct provider of car finance. As such, we do not charge a fee for our service, we will however receive a fee for introducing you to our partners.

Once we have introduced you to the car finance provider / lender, the direct provider may charge a fee, however this should always be explained by the provider once you are introduced to them. 

Products are no obligation, so in the event that you did not wish to proceed, you can simply exit the website that you are directed to.


Can I pay off the Car Finance before the end of the term?

This depends on the contract that has been agreed to, however in most cases this is possible. 
Full terms will be explained once you have been matched with a provider. 

In order to make such payments, all you need to do is contact the provider and  explain you wish to make an additional payment.


What is APR?

APR is the yearly cost of borrowing. Typically the lower the number, the less money that you will need to be paid back.


What is Autofunder's APR ?

The current Representative APR for Autofunder is:  

If you borrow £6,500 over 5 years with a representative APR of 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £166.07 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,869.52. 

Rates from 6.9%: the exact rate you will be offered will be based on your circumstances, subject to status.


Will there be a credit check involved?

Although Autofunder do not carry out a credit check ourselves, if you are matched with a Car Finance provider, it is likely that they will perform a credit check. The provider that we have directed you towards will always explain the process before any check is carried out.


I need additional financial advice / guidance

If at any point you feel that you need additional advice regarding any kind of money matter, the Money Helper is provided by the government to help people in varying circumstances. Their contact details can be found at: