Zopa Car Finance

Zopa are a UK based provider of Unsecured Loans and Hire Purchase Agreements. Find out if you're eligible for Car Finance with Zopa by using our easy online comparison powered by Motiv Finance. Quick, simple form – see your results in just a few minutes.

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*Eligibility Service:

The car finance eligibility service is fully provided by Monevo.  The data you supply is directly submitted to Monevo and is used to retrieve personal loan and hire purchase quotes from their panel of lenders. If you select a loan purpose other than for car purchase you will only receive quotes for personal loans. By using their eligibility service you are agreeing to Monevo’s terms and conditions and privacy policy which can be found at Monevo.co.uk

Monevo.co.uk is a registered Trading Name of Monevo Limited which is an Appointed Representative of Quint Group Limited, and is entered on the Financial Services Register under reference number: 723672.  Quint Group Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 669450.  Monevo Limited is registered in England and Wales (Company number 06511345). Registered office: Glasshouse, Alderley Park, Nether Alderley, Cheshire,SK10 4ZE.  Licensed by the Information Commissioners Office, (Registration number Z1498441).

Last updated on 07 September 2022.

Zopa Car Finance FAQ

Who are Zopa?

Zopa is a peer-to-peer lending company that was founded in 2005 with the aim of helping people to access loans and investments. Based in London, Zopa offers loans for cars, home improvement, weddings, and debt consolidation, as well as providing a platform for individuals looking to invest. In 2020 Zopa Bank was launched after receiving their full banking licence, so expanding the range of financial services they can offer.

What car finance does Zopa provide?

When applying for Zopa car finance you can choose from an unsecured personal loan or a Hire Purchase agreement. With a personal loan you will own the car from the moment you buy it, whereas with Hire Purchase you won’t own the vehicle until you have made all the repayments.

Hire Purchase means the loan is secured against the car, which means Zopa could repossess the car if you default on the loan.

How much can I borrow from Zopa car finance?

The amount you can borrow from Zopa will depend on whether you choose the personal loan option or the Hire Purchase option.

You can choose a loan term that is most affordable for you and that will best suit your situation. The APR on each loan will vary from customer to customer, according to their own unique circumstances and credit history.

Who is eligible for Zopa car finance?

UK residents aged 20 or older are eligible for Zopa car finance. Individuals will need to be employed, self-employed, or retired with an income over the minimum requirement set by Zopa.

Applicants will also need a good credit history and be able to show they have paid other debts and bills on time.

How does Zopa make a decision on car finance applications?

Zopa will look at your credit rating and previous history of paying off debts and bills. They will also consider your personal information and current financial situation, including income, to judge whether you can afford the repayments.

If you apply for a Zopa Hire Purchase loan, your chosen car and dealer will need to pass Zopa’s checks before they approve the payment.

Can I pay off my Zopa car finance early?

Yes, customers should be able make extra repayments towards their car loan without paying any added fees, but always check the details of the agreement in advance.

Is Zopa trustworthy?

Zopa is regulated by the Financial Conduct Authority (FCA), in addition to the Prudential Regulation Authority.

Where can I find Zopa car finance reviews?

Independent review sites like Trustpilot will have Zopa car finance reviews from previous or existing customers.

Services offered by this provider may change over time. Always check Ts&Cs.

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