Why do you complete a check on the dealer?

We want to ensure that you have the smoothest journey and drive away in your car happy. That’s why we complete additional checks on dealerships to make sure they are up to our standards and are a reliable and reputable company.

What happens if I don’t know the registration?

We’ll need a registration plate for your application so it’s best to call your dealer to get this. Your quote is valid for 60 days, so you’ve got plenty of time to find your dream car and you can check as many cars as you like, with no impact to your credit score.

Can I make extra repayments towards my hire purchase finance?

Yes. If you want to pay more towards your hire purchase finance, you can, at any time. And without fees. The easiest way to pay more is by using the Zopa app. Click your hire purchase finance, then ‘Make an extra payment’ and follow the steps. We’ll take the money through your usual Direct Debit. Things to keep in mind ● Paying more will reduce your hire purchase finance amount, the amount of interest you pay and the cost of your monthly repayments. ● Your hire purchase finance term will stay the same. ● You’ll need to pay at least £10. ● If one of your regular repayments is going through, you’ll need to wait a few days until that’s cleared before making an extra repayment.

Can I re-finance / change my car whilst the finance is up and running?

No, not once you’ve signed your agreement as this relates to the car you buy with the hire purchase finance. However, see here for more information on selling or part-exchanging the car.

I’m having problems with my car

We’re sorry to hear that there is an issue with your car. Please get us touch with us at zopa.com/help and a member of our customer service team will look into ways we might be able to help.

Can I take my car abroad?

If you’re looking to take the car out of the UK for more than 28 days, it’s really important to contact us before you go, to receive written consent. You’ll need AA five star insurance or equivalent to take the car out of the UK to any European country.

Can my spouse/ child drive the car?

Yes, they can, providing that they’re insured to drive it. Don’t forget, no matter who is driving the car, the person whose name is on the contract is liable for the hire purchase finance.

When do you complete a hard search on my credit file?

Zopa will conduct a hard search on your credit file once you complete your e-sign. The initial quote you receive will be a soft search, leaving no mark on your credit file.

Can I add a personalised number plate to my car?

Yes, you can! Though it’s important to note that you can’t make any permanent modifications to the car.

Yes, you can! It’s important to note that as the hire purchase finance is registered in your name, you’ll be liable for the finance until it has been settled. Contact us at zopa.com/help to request a finance settlement figure. Make sure that the dealer has the correct bank account details and reference. You can find these details by contacting our customer service team.

I want to sell my car

Before selling your car privately, your existing hire purchase finance agreement with us will have to be settled first, as Zopa will still own the car. If you’re part-exchanging the car, the dealer will often pay us directly, but you’ll be liable for the finance until the loan is closed. Please make sure that the dealer has the correct bank details and reference. Feel free to contact us to obtain the details. If you’re in financial difficulty and want to sell the car to reduce your debt, please contact us by going to zopa.com/help.

Technically, we’ll 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. You'll be the registered keeper of the car and there is no limit on how many miles you drive. Plus, once you’ve made your final repayment, ownership is automatically transferred to you.

Is there a balloon payment?

No. A balloon payment is a lump sum you’ll pay if you want to keep the car at the end of a personal contract purchase (PCP). As this is a Hire Purchase (HP) finance, once you’ve made your final repayment the car is all yours and there’s nothing more to pay.

Are there set-up fees, early repayment fees or late payment fees?

Nope. You can pay off your hire purchase early anytime, with no fee. 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.

Does Hire Purchase finance cover all cars?

We accept most cars, as long as it’s: A used car Bought through a dealership No more than 11 years old Not a commercial vehicle Got no more than 120,000 miles on the clock If you’re not sure whether your car fits our criteria, just enter the car’s registration number and we’ll check it for you.

What's the difference between an unsecured car loan and hire purchase car finance?

With hire purchase finance, the loan is secured against the car. This means that Zopa own the vehicle until the loan has been paid off. We also offer unsecured personal loans as another way of financing a car- check out your rate on our loans page.

How soon could I be driving away in my new car?

Once your Hire Purchase finance is approved and you’ve chosen a car, you could be on the road in as little as one working day.

What background checks does Zopa run?

We’ll need to run some free background checks on the car you like. After all, buying a used car can be daunting, especially when it is often hard to tell whether you’re getting a good deal. We’ll check the car isn’t stolen, imported, scrapped or previously involved in an accident. If any of these fail, you’ll need to add a new car.

Once you’ve signed your agreement online, we’ll then pay the dealer, so you’re free to hit the road. You’ll need to pay the car’s deposit and any extras to the dealer directly.

What is hire purchase finance?

When you choose Hire Purchase finance with Zopa, it's secured against the car. This means we own the car until you make your final repayment and after that, it’s yours. However, there’s no need to feel like it isn’t yours. We won’t put a limit on how many miles you can drive in your car. It’s important to note that if you default on your finance, we can repossess and then sell the car, subject to meeting the conditions detailed in the Consumer Credit Act.

What does pre-approved mean?

Being pre-approved for our Hire Purchase finance means that we’re confident we can say “yes” based on the info you’ve given – we just need to run some final ID and fraud checks. You can also customise your finance term and amount with no impact to your credit score, as your Hire Purchase finance isn’t final until you’ve signed your agreement. Though it’s worth noting that we can’t guarantee you’ll be pre-approved for a new amount if it’s more than you originally applied for.

Help home

Car finance

Find answers to our most frequently asked questions.

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Car finance – getting started

Why do you complete a check on the dealer?
What happens if I don’t know the registration?
Can I make extra repayments towards my hire purchase finance?
Can I re-finance / change my car whilst the finance is up and running?
I’m having problems with my car
Can I take my car abroad?
Can my spouse/ child drive the car?
When do you complete a hard search on my credit file?
Can I add a personalised number plate to my car?
Can I part exchange?
I want to sell my car
Will I own the car?
Is there a balloon payment?
Are there set-up fees, early repayment fees or late payment fees?
Does Hire Purchase finance cover all cars?
What's the difference between an unsecured car loan and hire purchase car finance?
How soon could I be driving away in my new car?
What background checks does Zopa run?
Who pays the dealer?
What is hire purchase finance?
What does pre-approved mean?

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