Used car finance

Say goodbye to uncertainty and hello to car-buying confidence. Sort your finance with Oodle and drive away safe, knowing that you’ve got the wheels you want within a budget that suits you.

How does used car finance work?

Car finance is a cost-effective way to purchase a used car. With used car finance, you can borrow money from a lender to cover the cost of the vehicle and then repay it in affordable monthly instalments. This allows you to enjoy the benefits of driving a used car while managing your expenses effectively.

Buying a second-hand car is a smart choice for many people because it provides excellent value for money. Compared to new cars, used models are more affordable and depreciate at a slower rate. If you’re interested in buying a used car but struggling to afford the upfront cost, financing options could be your ideal solution.

Are you a first-time car buyer? Read our guide to buying a used car.

How can I get used car finance?

Typically, there are a few ways to buy a used car. Each option comes with its own advantages and disadvantages. The best choice for you will depend on your circumstances.

Hire

purchase

Hire purchase (HP) is where you make a regular monthly payment for the car with a fixed interest rate – meaning you know exactly how much you are paying every month. The deposit can be flexible or even not required at all.

Personal contract purchase

Personal contract purchase (PCP) allows you to buy a used car through fixed monthly instalments, like hire purchase. PCP tends to have lower monthly payments as you don't have to pay the car's total value. But should you decide to keep the car at the end of the agreement you will need to pay a substantial ‘balloon payment’ to purchase it outright.

Car loan

A car loan is a financing option where you borrow a lump sum of money to buy a used car and repay it through monthly instalments, but you’ll own the vehicle from the start. While no upfront deposit is required, it’s important to note that the interest rate and monthly payments can be higher than with other car finance options.

Why choose Oodle to buy used cars on finance?

Get a great used car finance deal and then use it to find the right car for you.

Oodle has your back for the car you want at a budget that suits you. Let us handle the finance part so you can simply walk into your local car dealership and buy a car at a price that works for you. Say goodbye to uncertainty and hello to car-buying confidence.

Transparent pricing and no hidden costs

We can help you every step of the way – we can even help you find a car

Buy and pay online or in person at an approved dealership

Sort your finance with Oodle and drive away safe.

How Oodle works

01 Apply online

Find out if you're pre-approved in seconds

01 Apply online

Find out if you're pre-approved in seconds

01 Apply online

Find out if you're pre-approved in seconds

02 Get accepted

You’ll have the money in your account the next working day

02 Get accepted

You’ll have the money in your account the next working day

02 Get accepted

You’ll have the money in your account the next working day

03 Shop anywhere

Shop online or in a dealership

03 Shop anywhere

Shop online or in a dealership

03 Shop anywhere

Shop online or in a dealership

Get my quote.
No impact on your credit score.

xx.x% APR Representative

FAQs about used car finance

Is it worth financing a used car?

Whether or not financing a used car is right for you depends on your own financial situation. Financing can be a great way of getting a car without having to pay the full cost upfront. But there are some important considerations to take into account before deciding to go ahead with a car finance agreement: for example, the interest rate and APR of the agreement, and your current credit score (which can impact whether you’ll be offered car finance in the first place).

If you’re unsure about whether you’ll be able to afford car finance, it’s best to speak to a specialist first to check that you’ll be able to make your repayments.

Read more about buying a used car or apply for used car finance now.

Is it worth financing a used car?

If you’re unsure about whether you’ll be able to afford car finance, it’s best to speak to a specialist first to check that you’ll be able to make your repayments.

Read more about buying a used car or apply for used car finance now.

Is it worth financing a used car?

If you’re unsure about whether you’ll be able to afford car finance, it’s best to speak to a specialist first to check that you’ll be able to make your repayments.

Read more about buying a used car or apply for used car finance now.

What do you need to finance a used car?

To finance a used car, typically you’ll need to provide the following information:

Valid photo identification (eg. driving licence, passport or similar)
Proof of income
Credit history
Employment status

At Oodle, we’ve made the car finance process straightforward so you’ll have no trouble getting started on your finance application. Find out if you'll be accepted for used car finance with Oodle in just a few minutes – apply now!

What do you need to finance a used car?

To finance a used car, typically you’ll need to provide the following information:

Valid photo identification (eg. driving licence, passport or similar)
Proof of income
Credit history
Employment status

What do you need to finance a used car?

To finance a used car, typically you’ll need to provide the following information:

Valid photo identification (eg. driving licence, passport or similar)
Proof of income
Credit history
Employment status

How long can I finance a used car?

The length of time it takes to pay back the car could be different depending on your agreement with the dealer or the finance provider who covers the initial cost. This flexibility allows you to negotiate a repayment plan that suits your needs. At Oodle, the length of the agreement is normally between 1 and 5 years.

How long can I finance a used car?

What credit score is needed for a used car finance agreement?

Car finance companies want to know your credit history to evaluate how likely you are to pay the instalments for your car and to decide whether to approve your finance application. Generally speaking, higher credit scores typically lead to lower interest rates, which means having a higher credit score increases your chance of getting approved for finance with more favourable interest rates.

Find out more about credit scores.

What credit score is needed for a used car finance agreement?

Find out more about credit scores.

What credit score is needed for a used car finance agreement?

Find out more about credit scores.

What is APR?

APR (or annual percentage rate) is an important number to look at when purchasing a car with finance. This is because it’s an indication of the actual cost you will need to pay when financing a car. The APR represents the yearly costs of the loan, expressed as a percentage of the amount you’ve borrowed. It takes into account all the costs of the loan, including interest, fees, charges, and more. When making a decision, you can use APR to understand your costs more accurately than using an interest rate.