Retrieve application

Car on finance? Switch and you could save £100s a month

Find out in minutes if we could give you a better deal - without impacting your credit score. Apply online. Simple switch. The fastest way to drive down your car expenses.

See how much you could save

How car loan refinancing works

Car loan refinancing is a simple way to pay less for your car. It means using a new, cheaper loan to replace your current agreement - a bit like using a loan to pay off expensive credit cards.

  • Quote won't harm your credit file
  • Award-winning customer service
  • No early repayment fees
How car loan refinancing works

Three steps to switch and save


Get your no-obligation quote

Tell us about your car, current finance agreement, and personal circumstances. Getting a quote won't impact your credit score.

Car mileageWhat will I need?

  • Your car's registration number
  • Your current mileage (as close as possible)
  • What you're paying for your car loan today (as close as possible)

ClockHow long will it take?

Less than 5 minutes


Confirm your settlement figure

To confirm your quote, we just need your settlement figure confirmation. You can ask your current finance provider for this – they're obliged to give it to you for free.

SettlementWhat will I need?

  • A letter confirming your settlement figure (a photo or PDF is fine)

ClockHow long will it take?

Once you've uploaded your settlement figure, we aim to confirm your quote within 2 working days.


Accept your quote and apply

If you like the confirmed quote, simply apply to switch your car finance to Zopa. Subject to approval, we'll pay off your current loan and you'll start saving.

BankWhat will I need?

  • Your personal bank account details
  • A bank account statement showing your income

ClockHow long will it take?

We aim to approve your loan within 2 working days. And that's it – we take care of the switch!

Am I eligible?

Personyou should
  • Be over 20 years old
  • Earn at least £12,000 per year
  • Be able to afford the loan
  • Have a record of repaying debts
  • Not have an existing Zopa loan

Your caryour car
  • Be no older than 10 years
  • Be in good shape for its mileage
  • Have a loan secured against it
  • Be registered in the UK to your name
  • Not be a fleet car or a taxi

Who is Zopa?

Zopa is the UK's largest peer-to-peer lending service. We offer low rate loans to people who are good with their money.

We've lent £1.41 billion to over 150,000 people since 2005.

Moneyfacts3 times winner of Moneyfacts' Personal Loan Provider of the Year (2014-16)
Money SupermarketMoney Supermarket's Best Personal Loans Provider 2016
Moneywise6 years in a row: Most Trusted Loan Provider in Moneywise Customer Service Awards

Your questions, answered

Will this impact my credit score?

No, getting a quote to see how much you could save with Zopa Car Refi won't impact your credit score. There's absolutely no downside to checking your rate with us to see how much you could save.

If you like what you see and apply for the loan, this will leave a visible mark on your credit file (the same is true for all credit providers). Don't worry – we'll tell you before this happens.

Do I have to do anything to switch?

No – if your loan's approved, we take care of everything! We pay off the loan you have with your current finance provider, and you pay us by Direct Debit next month instead of them.

How long will it take?

You're minutes away from seeing a no-obligation quote. Getting a quote with Zopa is free and it won't affect your credit score.

If you choose to apply for the loan, it'll take us a few days to verify everything – and we'll arrange the switch with your current car finance provider to save you time and effort. We'll keep you informed every step of the way.

My car is in pretty bad shape. Can I still refinance?

Unfortunately we only offer secured loans on used cars that are in good condition. However, you could still get a better deal with Zopa than what you're currently paying on your car finance – by applying for one of our unsecured personal loans. It only takes a few minutes to get a quote on, and it won't affect your credit score.

How come you can offer great rates?

We offer great rates because we keep things online (except our award-winning customer services team, who are here for you online and by phone). This means we're super efficient in the way we work, and we pass these savings on to you.

What about my car dealer and warranties?

We don't tell your dealer anything – switching your car finance provider doesn't affect them. Nothing to worry about there.

As for your existing finance provider, you retain your statutory consumer rights and warranties as per your agreement with them.