Carmoola Launches Flexible New Finance Option to Give Car Buyers More Choice, Lower Monthly Payments, and Greater Control

Carmoola PCP (Personal Contract Purchase) launch marks a major expansion in UK car finance, giving drivers access to flexible Personal Contract Purchase plans. Within its finance-first app model, this Carmoola offering offers more end-of-term options, higher-value vehicles, and lower monthly payments.

The launch is set to further transform the used car buying experience for Carmoola customers, many of whom have asked for more adaptable finance options that match their lifestyle and spending habits. With PCP now representing up to 40% of the used car finance market*, Carmoola’s move is aimed at giving drivers even more power by having their budgets set and finance in place before they step into the dealership.

Aidan Rushby, founder and CEO of Carmoola, said: “Car prices have been rising, but people still want great cars – they just need different ways to pay for them.

“By introducing PCP, we’re giving our customers more flexibility, lower monthly costs, and the freedom to decide what happens at the end of their term.

“Whether they want to keep the car, return it, or upgrade, the power’s now in their hands.”

Unlike traditional Hire Purchase (HP), PCP offers smaller monthly payments by deferring a large part of the loan until the end of the agreement. At the end of the term, customers can choose to keep the car by making a final “balloon” payment, trade it in, or simply return it – all managed seamlessly in the Carmoola app.

More flexibility. Lower payments. Better cars.

The launch caters to customers looking to access higher-value vehicles while managing affordability, as typical PCP customers can pay significantly less each month than with a standard HP loan. According to Carmoola’s research, the average PCP loan amount is nearly double that of HP, which highlights how this option can help consumers unlock better cars without stretching their budgets.

Carmoola now offers the two most popular car finance products directly to consumers – HP and PCP – further strengthening its position as the go-to, ‘finance-first’ platform for modern motorists.

Designed for today’s drivers

Built on Carmoola’s powerful proprietary tech, the new PCP option is fully integrated into the app experience. Customers can check eligibility, compare offers, adjust deposits and mileage limits, and manage their agreement with total transparency. Carmoola’s seamless digital process includes AI-powered vehicle valuations and instant decisions, with no lengthy paperwork or sales calls required.

Aidan added: “We’ve built this product from the ground up with the customer in mind, using data, smart tech and real insight into what today’s drivers want.

“PCP is popular because it gives people more options and better control over their money. We’re excited to be offering a new standard in how PCP should be done.”

Helping more people say yes to the car they love

PCP is currently available to Carmoola customers with good credit, and for cars that meet specific quality and mileage criteria. The product is being introduced initially to eligible customers who apply directly through the app.

This expansion brings Carmoola a step closer to its goal of becoming the UK’s all-in-one car ownership platform, combining speed, simplicity and fairness with financing options that put customers first.

With the Carmoola PCP launch, the company’s flexible used car finance options enable motorists in the UK to upgrade their vehicles more easily. For more information, visit: https://www.carmoola.co.uk/car-finance/personal-contract-purchase