Carmoola Review 2025 → Fast & Stress-Free Car Finance

Hire Purchase (HP) allows you to take a car home and pay for it later. Spread the cost of your car over 1 to 5 years. Once you make the payment, the car will be officially yours.

HP helps you make a down payment (or skip it altogether) and pay off the rest in monthly installments. Furthermore, the brand allows you to choose a package that suits your budget.

The best thing about using HP is the predictable payments. You will get a fixed interest rate for the duration of the loan. Thus, there are no sudden changes to your monthly costs.

Hire Purchase Benefits

• Fixed contract length
• Spread the cost of a car into predictable monthly payments
• No deposit options are available, and no mileage restrictions
• After completing your payments, you’ll officially own the car

In short, Hire Purchase (HP) makes it easy for you to drive without worrying about finances. Whether upgrading or buying your first car, you can choose this service. They provide hire purchase loans between £2,000 – £40,000 for 12-60 months.

Are you stuck with a car loan that isn’t working in your favour? Refinancing with Carmoola lets you swap out your current finance deal for something better. You could get a lower interest rate, smaller payments, or a setup that works for you.

If your credit score has improved since you first took out a loan, you could qualify for a lower interest rate. That means you save more money over time.

The process is straightforward. Tell the brand about your current finances. Next, get a new interest rate and budget and switch over. There is no confusing paperwork and no unnecessary delays.

Refinance Benefits

• Secure a lower interest rate
• Reduce monthly payments
• Pay off the mortgage faster

Basically, you can cut costs or gain more control over your payments. Refinancing with Carmoola makes it easy to take charge of your car finances. So, try this service right away!

This car finance calculator helps estimate your monthly payments and total interest on your car loan. You can set sliders to change the borrowing amount, contract length (loan term), and deposit. So, you can see how it affects your payments.

Here’s how it works:

• Borrowing amount: Your loan amount ranges from £2,000 to £40,000.
• Contract length: The loan duration ranges from 12 to 60 months.
• Deposit amount: The upfront payment ranges from £0 to £20,000.
• APR (Annual Percentage Rate): This is the interest rate. It varies based on your credit score.

For example, if you borrow £12,000 with no deposit for 48 months with an APR of 6.8%, your monthly payment would be £286. The total amount you must pay, including interest, is £13,729.

Therefore, this calculator helps you see how changes to these factors would look. It provides a clear breakdown of payments and total costs.

The company offers a soft credit check to see if you qualify without impacting your credit history. You just need to follow these 3 easy steps. 

1. Tell them about you: Enter basic details like your name, address, and income.
2. Find out if you’re eligible: The platform will conduct a light credit check (no impact on your score). You’ll know within 60 seconds if you’re eligible.
3. Get a pre-approved budget: See how much you can borrow and your personalized APR based on your credit score.

We strongly recommend that you use this eligibility checker. This feature is like the final checks. It gives you a clear idea of your monthly payments before you apply.

Carmoola allows you to check your budget, sign an agreement, and pay in less than 10 minutes. You can do everything through an easy-to-use app. Here’s a tutorial to use the app. 

1. Download the app from Google Play or the App Store.
2. Make an account and login.
3. Open the homepage and tap “Get my budget.”
4. Enter your data to see whether you’re eligible.
5. Get a budget for your next car.
6. Next, tell them about your new car.
7. Verify your identity.
8. Pay with your Carmoola card. You can checkout with Carmoola online or in the showroom.

There are several kinds of fees for car finance. But Carmoola only charges £1. This is a small price to pay for full ownership. On the other hand, dealer admin fees are a little different.

The dealer sets this fee and can sometimes include additional costs such as short-term insurance or document processing. It can sometimes cost £500 or more.

What are the pros and cons of using Carmoola? Let’s find out at this table!

Carmoola is perfect for used car buyers who want a quick, hassle-free method. This also applies to young professionals, first-time buyers, or those who love a simple, all-online process.

Next, this brand caters to budget-conscious customers and people who want to improve their credit scores. The company offers flexible options and competitive pricing with no hidden fees.

Is Carmoola good? We let you get the answers from customer reviews. There are tons of comments about this brand on Trustpilot, Reddit, and its official site. We’ll pick a few to discuss.

Carmoola Scores

• App Store: 4.9/5 stars from 2.5k ratings
• Trustpilot: 4.9/5 stars from 2k ratings
• Google Reviews: 4.8/5 stars from 346 ratings

One customer said:

Easiest application process ever for car financing. I love how fast everything went. Definitely recommend it to everyone. I think all financing companies should work like Carmoola …

Based on this customer’s experience, the company did a great job. He even admired how fast everything went. Thus, everyone should try this car finance platform.

Another buyer stated:

It was an effortless and hassle-free experience from start to finish. The car checks are a great feature, and the whole car payment process is so easy that I can’t recommend this service enough.

This buyer likes the car checks feature. It makes the whole process easy and fast. Besides, car payments are easy. Overall, he has no complaints so far.

One review on Reddit mentioned:

Speedy process and the best customer support team ever. I got approval in principle in a few seconds, had a few more hours for final approval, and was done! Highly recommended.

Along with the fast process, this Reddit user praised its customer support. They helped from start to approval, and he wants to recommend it to everyone.

The final verdict is that this brand absolutely helps the customer. People are happy with its fast and hassle-free process. In addition, they point out its helpful customer care. From any perspective, this company stands out.

If you love keeping things simple, Carmoola is definitely worth considering. They offer competitive interest rates. You can pay less over the life of the loan.

Moreover, the brand makes everything flexible. You can customize your loan amount and choose a term that suits your needs. You can also use the calculator to see what your payments will look like.

Our favourite thing is that the application process is quick, easy, and 100% online. No paperwork, no long waits, just a few taps on your phone, and you’re good to go. If you want hassle-free car financing, Carmoola has you covered.

If you’re wondering whether Carmoola is the real deal, the answer is a big yes! They work with over 8000 approved dealers. That means you get to enjoy a lot of options for your next car. Besides, Carmoola Group Limited is registered at the UK company’s house.

Additionally, the brand has been featured in major media, such as the London Evening Standard, Mail Online, and The Sun, so people are talking about it. Furthermore, the company got high ratings from the App Store and Trustpilot. So, it’s clear that Carmoola is legit.

Carmoola gives you a 14-day cooling-off period. So, if you find it unsuitable, you can cancel without penalty. You’ll still have to pay back the borrowed funds. But at least you won’t be locked into a long-term commitment you’re unsure about.

If you’ve already bought the car, things get a little trickier. Some dealers may allow you to return it for a full refund. However, this depends entirely on their terms and conditions.

Are you ready to cancel? Just let your lender know immediately. You just need to call and let them know your decision. After that, it’s just a matter of settling up.

If you’re still unsure, don’t hesitate to contact customer support for help. They’re here for you from 8 am to 9 pm every day. You can get in touch using the information below:

• Contact form: Drop a line on the blank form
• Email: [email protected]
• Contact number: +44 20 3773 3901
• Instagram: carmoolaapp

Carmoola Location

Whittlebury Mews West
Primrose Hill, London
NW1 8HS, UK

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