No impact on your credit score
Authorised and regulated by the Financial Conduct Authority (FCA), Zuto is credit broker, not a lender. All finance is subject to status and income. Representative Example: Borrowing £8,000 over 60 months with a representative APR of 19.0%, the amount payable would be £201 a month, with a total cost of credit of £4,064 and a total amount payable of £12,064.
Secure swift and simple car finance in 4 easy steps with Exchange My Car and Zuto
1
Start by using our online form to get a quote for car finance. This quick process provides you with a decision in just 60 seconds so you can see if you're approved without impacting your credit score.
2
Great if you already have your eyes on a car, or you can find one from Zuto's selection. You can choose from various options, including used budget options to premium models, ensuring you find your perfect match.
3
Finalise your car finance agreement with Zuto, as they handle all the necessary paperwork and liaise with the lender. Zuto will also coordinate directly with the seller to manage the payment, so you don't have to worry about any financial transactions.
4
After everything is finalised, you simply collect the vehicle from the seller, and Zuto will ensure that all financial arrangements are settled. Enjoy flexible monthly payments tailored to fit your budget as you hit the road.
Exchange My Car has partnered with Zuto, one of the UK's most trusted car finance experts, to help you secure the right motor finance deal for your circumstances. With 17+ years of experience and more than 5 million customers helped, Zuto specialises in the provision of HP and PCP, supporting people from all credit backgrounds.
Whether your credit score is excellent, limited, or somewhere in between, they'll work to find a solution that fits. Best of all, Zuto uses a soft credit search, so checking your eligibility won't leave a mark on your credit file. Zuto's service is completely free to use and includes a full vehicle history and valuation check - so you can buy with confidence, knowing the car is legitimate.
Let Zuto search their wide panel of lenders and match you with the best deal for your needs.
Enjoy exclusive benefits unlocked by Exchange My Car's partnership with Zuto
Choose a repayment plan that fits your budget. Spread the cost of your car over a period that suits you, making your car finance payments more manageable.
With a decision in 60 seconds, you'll find out quickly if you're approved. You can start shopping for your next car right away.
Get car finance for a wide range of vehicles, from budget-friendly used cars to premium models. Find the perfect car to suit your specific needs and budget.
We understand the importance of a healthy credit score. You can see if you qualify for car finance and get an inial decision without impacting your credit score history.
Our trusted partner Zuto are car finance experts and have been around since 2006. They have years of industry know-how and access to a wide range of lenders and products. If you're dreaming of buying your next car on finance, Zuto's tailored finance options should have you covered. They simplify the process, offering a clear and simple process with exceptional customer support.
Our partner, Zuto, is a credit broker, not a lender. Zuto Limited is authorised and regulated by the Financial Conduct Authority, registration number 452589. Applicants must be 18 or over. All finance is subject to status and income. Their rates start from 9.4% APR. The rate you are offered will depend on your individual circumstances. Zuto won't charge you anything for their service. Zuto will receive a commission from the lender, which varies based on the product, amount borrowed, or your credit score.
Zuto's commission from the lender doesn't affect the amount you pay. Written quotations are made available by Zuto on request. Guarantees and indemnities may be required. Certain exclusions for NI residents. Terms and conditions on Zuto's website apply
Car finance allows you to purchase a vehicle by spreading the cost over time. This involves borrowing money and repaying it in regular instalments. The process involves applying for finance, which includes a credit check to assess the borrower's ability to make the payments, and signing a contract that outlines the terms of the agreement, such as the interest rate, monthly payments, and any additional requirements.
There are several types of car finance options available, including Hire Purchase (HP), Personal Contract Purchase (PCP), Personal Contract Hire (PCH), and Personal Loans, each with its own pros and cons.
GET CAR FINANCE QUOTE
Authorised and regulated by the Financial Conduct Authority (FCA), Zuto is credit broker, not a lender. All finance is subject to status and income. Representative Example: Borrowing £8,000 over 60 months with a representative APR of 19.0%, the amount payable would be £201 a month, with a total cost of credit of £4,064 and a total amount payable of £12,064.
Find the perfect way to finance your next car
Hire Purchase (HP) car finance is an option where you borrow a lump sum amount to purchase a vehicle and repay it in regular instalments over a fixed term. With HP, you don't own the car until the final payment is made. This means you're technically renting the car until the loan is fully paid off. There are no mileage restrictions with HP and the interest rates are fixed, making budgeting easier. You can also avoid the final balloon payment by adjusting monthly payments.
Personal Contract Purchase (PCP) is a car finance option that offers lower monthly payments compared to Hire Purchase (HP). At the end of the agreement, you have the flexibility to own the car, return it, or trade up for a new vehicle. But you can't avoid the final balloon payment with PCP and returning the car at the end of the agreement may be subject to mileage and wear and tear restrictions. Still, PCP is an attractive option to upgrade your vehicle regularly.
A personal car loan allows you to borrow a lump sum amount to purchase a car outright. Unlike Hire Purchase (HP) or Personal Contract Purchase (PCP), you own the vehicle immediately. This is because the loan is used to pay for the car in full upfront, making the loan and the car separate entities. However, with a personal loan, your car is not secured against an asset. Also, you don't get any support if an issues comes up with your vehicle over the ownership period.
Not sure which option is right for you? Check out our handy comparison chart between different types of car finance.
Did you know: Whichever option you choose, you'll borrow money from a lender to pay for your car, then repay the lender in regular monthly instalments to cover the money you borrowed, plus interest.
No impact on your credit score
Yes, you can sell your car on finance easily through Exchange My Car in the UK. In fact, our partner buyers can also assist you in managing the remaining balance with your lender. When you finance a car, typically through agreements like Personal Contract Purchase (PCP) or Hire Purchase (HP), the finance company retains legal ownership of the car on finance until the finance is fully paid off. This means you cannot legally sell the car outright without first settling the outstanding finance.
To sell a car on finance, you should first contact your finance provider to request a settlement figure. Once you have the settlement amount, you need to get your car valued to ensure that the sale price will cover this balance. If the car's value exceeds the settlement figure, you will receive the surplus after the finance is paid off. However, if the car is worth less than the settlement amount, you will need to pay the difference yourself to clear the finance before completing the sale.
It is important to note that selling a car on finance without settling the agreement is illegal. Therefore, always ensure the finance is cleared either by you or through the buyer before transferring ownership. If this sounds like a complex process, you can always turn to Exchange My Car for selling your car on finance. Buyers on our panel regularly buy cars on finance. So, they are able to coordinate carefully with your finance provider to settle the outstanding balance, ensuring a legal and smooth transaction.
Exchange My Car has partnered with Zuto to offer you a wide range of competitive car finance deals. We can help you find a car finance deal to suit your budget and needs.
This service is designed to simplify the process by becoming a one-stop shop for buying cars on finance, saving you time and effort. This is why you should buy a car on finance through Exchange My Car and Zuto.
It's simple! First, you use our online form to see if you are approved for car finance. Then Zuto's Car Buying Experts will be able to give you an idea of how much you can borrow and what your monthly repayments will be.
Then you choose a car. Once you've found the car you want, Zuto will handle the entire car finance process for you. They'll handle the payment with the sellers and liaise with the lender, and you simply need to collect your car.
Zuto compares offers from a wide range of lenders to find the best deal for your circumstances from their panel.
Your monthly payments will depend on the amount you borrow, the interest rate, and the length of your loan. You can use Exchange My Car's online car finance calculator to get an estimate of your monthly payments.
The best auto financing option for you will depend on your individual circumstances. Some factors to consider include your budget, credit score, and the type of car you want to buy.
The cost of your car finance depends on several factors. The price of the car itself is the biggest factor, but your deposit also makes a difference. How long you choose to repay the loan and the interest rate you're offered will also impact the overall cost. That's why it's important to compare different deals to find the best option for you.
Building credit history is essential, but it doesn't necessarily exclude you from car finance options. While individuals with bad credit might face higher interest rates, Zuto's network includes lenders who cater to different credit profiles.
Personal Contract Purchase (PCP) often offers lower monthly payments and the flexibility to change cars every few years. This is because PCP focuses on paying a depreciated value of the car throughout the loan term.
At the end of the agreement, you have the option to purchase the car outright, return it, or use the equity to finance a new vehicle.
It depends on your individual financial situation and goals. While car finance offers flexibility by spreading the cost over time, it typically results in a higher overall cost compared to purchasing the car outright.
This is due to the interest charges associated with the loan. Therefore, it's crucial to consider the total cost, including interest, before committing to a finance agreement.
The amount of car finance available to you depends upon several factors, including your income, credit score, and the financing option you select.
There are a few more things you have to consider as well, such as the vehicle's purchase price, your down payment, and the applicable interest rate (expressed as APR).
To get a general idea, use Exchange My Car's car finance calculator.
Applying for car finance through Exchange My Car's partner Zuto is easy. First, decide how much you can comfortably repay each month.
Then, complete Zuto's online application, providing accurate details. Zuto will compare offers from different lenders and present you with the best options.
Carefully review these options and choose the one that suits you. Sign the agreement electronically, and that's it! You're ready to enjoy your new car.
