Zuto is a credit broker, not a lender. Our rates start from 9.4% APR. The rate you are offered will depend on your individual circumstances.
Representative Example: Borrowing £8,000 over 60 months with a representative APR of 19.9% the amount payable would be £204 a month, with a total cost of credit of £4,264 and a total amount payable of £12,264.
Warning: late repayments can cause you serious money problems. See our debt help guides.
Buying a car outright isn’t a viable option for most of us. Zuto is a credit broker (not a lender) that does its best to provide finance to anyone who can afford it, sourcing flexible car finance for between £2,000 and £48,000, with repayment periods of between 2 and 5 years. Even if you have a bad credit record your application will be considered.
Buying a car on finance requires you to commit to monthly payments, so make sure you carefully work out your budget and choose an affordable option. Don’t forget to take into consideration other costs you’ll need to pay out, such as maintenance costs and car insurance before making your final decision. Late repayments will damage your credit score, making it harder to source future finance.
Zuto offers the following car finance options:
Simply choose your car and the finance team will pay the dealer. You’ll then pay the finance company in monthly instalments until you have paid off the total amount owed. At the end of the agreement you then have the option to take ownership of the car.
This works exactly the same as a Hire Purchase except you commit to purchasing the car from the start. As soon as you’ve paid off your final instalment the car is yours.
With a PCP you pay monthly instalments, but unlike the other options described here, you’re only paying towards part of the total amount. At the end of your repayment period you then have the chance to take ownership of the car by paying a pre-agreed lump sum, often referred to as a balloon payment. Alternatively, you can give the car back and start again with a new vehicle.
Personal loans can be described by lenders as car loans, and can be used to finance the purchase of a vehicle. They’re not secured on the vehicle you buy. Simply borrow the money, pay the dealer and the car is yours. You then make monthly repayments to the lender.
The cost of your loan will depend on factors like how much finance you want, how long you want it for and your credit score.
If you’re comparing any credit-based products, it won’t be long before you’ll come across the Annual Percentage Rate (APR). This figure is designed to provide an annual summary of the cost of a loan. It takes into account both interest and any mandatory charges to be paid (for example an arrangement fee) over the duration of a loan.
All lenders must calculate the APR of their products in the same way and must tell you the APR before you sign an agreement, so for consumers it can be a handy tool for comparison, alongside other features such as the total amount payable.
Bear in mind, however, that lenders are only obliged to award this rate to 51% of those who take out the loan – the other 49% could pay more. That’s why it’s often referred to as the representative APR.
Zuto do their best to help anyone that can afford to finance a car, whether they’re self employed, under 21 or have a poor credit history. However you will need to meet the following criteria:
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