Finance your car
See what you can borrow
If you know what you can afford, it’s easier to find the right car. By identifying the right financing option, we can help you purchase your next car.
It’s easy and safe
Identify what you can afford every month
Tell us about yourself to start the process
Receive decision on your finance request within seconds. Soft credit check only
Finance your car using the provided reference code. This code is valid for 30 calendar days
Enjoy your new car!
How much would you like to borrow?
How much would you like to do a deposit of?
By placing a deposit, you may get a better finance offer and keep your costs down.
Over how many months would you like to pay back?
The price conditions are provided by Zopa. The projected total cost of credit £ 15,138. This is based on a contract duration of 60 months and a nominal interest rate of 9.9%. Representative example: a loan of £10,000 over 60 months will cost you £210.40 per month at a representative 9.9% APR. The total cost after 5 years is £12,614.40, which includes £2,614.40 interest at 9.9% fixed and a £0 fee. The total amount of credit is £10,000. Finance is not guaranteed, and any finance application is subject to a credit check and individual circumstances. The rate you are offered will depend on your individual circumstances. CarNext offer finance at 9.9% APR, available from either Black Horse Ltd if you visit our dealership, or Zopa Ltd if you purchase the car online through www.carnext.comAbout LPUK finance & services.
The personal information we have collected from you will be shared with fraud prevention agencies who will use it to prevent fraud and money-laundering and to verify your identity. If fraud is detected, you could be refused certain services, finance or employment. Further details of how your information will be used by us and these fraud prevention agencies and your data protection rates can be found at
We are here to help you
Still have questions?
Who are Zopa?
In 2005, Zopa built the first ever peer-to-peer lending company to give people access to simpler, better-value loans and investments. Taking the stress out of money by building their business on honesty, transparency and trust. You can read more about them here.
They’re rated ‘Excellent’ on Trustpilot. You can read more reviews here.
Are Zopa regulated?
Absolutely. They’re authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority, Prudential Regulation Authority and Peer-to-Peer Finance Association.
Who can get Zopa Hire Purchase finance?
As a responsible lender, Zopa takes several things into account to help decide if they can offer you finance. Here are the main criteria.
You'll need to…
•Confirm your identity
•Be at least 20 years old
•Be a UK resident with at least 3 years of address history
•Be employed, self-employed or retired with a pension
•Have an income of at least £12,000 per year (before tax)
•Have a credit history that they can see, and a good track record of repaying debt, e.g. utility bills, credit cards
•Be able to afford the car finance (in relation to your income and outgoings)
It takes just 3 minutes to find out if you're eligible and see your personalised rates. Don't worry, this won't affect your credit score.
Please keep in mind, they can't offer joint applications or guarantor loans.
What rates are Zopa able to provide their customers?
Zopa provides competitive rates to all customers depending upon the credit score.
What type of finance will be provided by Zopa?
Zopa provides Hire Purchase finance which is secured against the car, and is one of the most common ways to finance a car in the UK. Zopa will own the car until the end of the agreement, but once the final direct debit is taken from your account ownership will automatically transfer to you – no extra payments needed.
It’s important to note that if you default on your finance, Zopa can repossess and then sell the car, subject to meeting the conditions detailed in the Consumer Credit Act. You can read more information here.
Are there set-up fees, early repayment fees or late payment fees?
No. Although if you miss a repayment it’ll be marked on your credit file which may affect your ability to gain credit in the future.
Will I own the car?
Technically, Zopa will own the car until you’ve paid off your Hire Purchase finance in full, but there’s no need to feel like it isn’t yours. They don’t put a limit on how many miles you drive and, once you’ve made your final repayment, ownership is automatically transferred to you.
Do I have to put down a deposit?
If you do have some funds available to use as a deposit, you can put this down and this will reduce your total loan amount, and could potentially improve your chances of getting an approval for a loan to start off with. However, a deposit isn’t mandatory, and depending upon your credit score it is possible to get the loan approved without any deposit.
Are there any hidden fees?
Can I get Hire Purchase finance without a driving licence?
No, it’s mandatory that the person applying for finance must have an up-to-date driving licence.
Why was my Hire Purchase finance application with Zopa declined?
Zopa can tell you some of the main reasons why they decline an application, but can't tell you exactly why they couldn't approve yours. This is a security measure which helps keep Zopa and its customers safe.
Zopa understands that it can feel frustrating, so please have a look at the list below, and you might see one or more which could relate to you.
They may say no, if:
•Your existing level of unsecured debt is high
•There’s not enough information in your credit file
•Your level of disposable income is low
•There’s not much proof that you’ve managed credit well in the past
•Your credit score is low, according to TransUnion and Equifax
•You've applied for a Zopa Hire Purchase finance in the past 6 months
It's not the end of the road. You're welcome to reapply for Zopa Hire Purchase finance after 6 months. Please keep in mind, you won't be able to apply if you try again sooner than this.
What does pre-approval mean?
Getting pre-approved for your Hire Purchase finance means Zopa are pretty confident they can say “yes” based on the info you’ve given. They’ll have used your information to perform a ‘soft’ search on your credit file, to check you meet their criteria. The good news is, soft searches have no impact on your credit score.
If you do decide to go ahead and apply for the Hire Purchase finance, that’s when Zopa will add a ‘hard’ search to your credit file. It’s important to note that even if you’re pre-approved, your application could still be declined if anything changes on your credit file while you’re applying, or you don’t pass Zopa’s fraud and ID checks.
How long is my pre-approved Hire Purchase finance quote valid for?
It’s valid for 30 calendar days, so you’ve got plenty of time to find your dream car on CarNext.com. You’ll also receive a reference code to correspond with your quote.
What should I do when my reference code has expired?
You’ll need to follow the pre-approval steps again to get another quote for Zopa Hire Purchase finance.
Once pre-approved, can I change my loan amount later?
Your Hire Purchase finance isn’t final until you’ve signed your agreement, so you can get a quote on as many amounts as you like with no impact to your credit score.
You can change your amount through Zopa’s pre-approval journey or directly with us when you choose the car.
However, Zopa can’t guarantee you’ll be pre-approved for the new amount if it’s more than you originally applied for.
Will Zopa transfer the loan amount directly to my bank account?
Once your loan is approved and you have signed the finance and car purcahse agreements, Zopa will transfer the money directly to CarNext.
Can I change my repayment date?
Yes, of course. Zopa automatically sets the date to 30 days after your Hire Purchase finance was approved but it’s easy to change. Simply sign into your Zopa account, select your Hire Purchase finance and follow the steps.
Can I make extra payments towards my Hire Purchase finance?
Yes, you can pay more towards your Hire Purchase finance whenever you like, and Zopa won’t charge you any fees. If you do pay more, your monthly payments will reduce, but the term of your finance will stay the same, unless you pay off the full finance early. You can make extra repayments online by signing into your Zopa account, selecting your Hire Purchase finance and following the steps.
What happens if I default on my Hire Purchase finance?
If you default on your finance with Zopa, they can repossess and then sell the car, subject to meeting the conditions detailed in the Consumer Credit Act. You can read more information here.
What is the Annual Percentage Rate – APR?
The annual percentage rate on a loan is the amount the lender would charge if you borrowed the money for a year, as a percentage of the original loan. For instance at 10% APR, to borrow for a year you'd be charged 10% of the original loan, on top of paying it back. So if you borrowed £100 at 10% APR for a year, you'd have to pay back the loan plus £10.
What’s the difference between my Annual Percentage Rate (APR) and Interest Rate?
An interest rate, or a nominal interest rate, refers only to the interest charged on a loan, and it does not take any other expenses into account. In contrast, APR is the combination of the nominal interest rate and any other costs or fees involved in procuring the loan. As a result, an APR tends to be higher than a loan's nominal interest rate.
What’s the difference between a ‘soft’ credit check and a ‘hard’ credit check?
When you apply for a loan, finance provider will “pull” your credit report so they can understand your past borrowing behaviour (also called a “credit check” or “credit inquiry”). A soft credit check won’t impact your credit score or show up on your credit report. On the other hand, a hard credit check might cause you to see a slight drop in your credit score, and it will show up on your credit report (meaning it will be visible to other lenders).
When Zopa calculates your personalised and pre-approved Hire Purchase finance rate, they’ll only do a soft credit check. It’s only if you apply for the finance that they’ll perform a hard check.
What's a credit reference agency or credit bureau?
Credit reference agencies, also known as credit bureaus, securely collect, store and maintain information about your credit history. They give loan providers access to your credit file (though never without your permission) to help them make a decision when you apply for a loan. When you check your personalised rates with Zopa, you agree to let us to carry out a soft credit search with the credit reference agencies we work with. This doesn't affect your credit score.
How to access your credit report?
Credit reference agencies have to share your credit report with you if you request it. Some companies charge a fee, some are free, and some offer you a free trial period (remember to cancel your subscription if you don't want to be charged). CheckMyFile is a multi-agency credit report service with a free trial.