Take charge of your car finance

You must be at least 18 years old, and have lived in the UK for three or more years.

No, Zuto don't charge you anything for arranging finance or helping you in the search for a new car.

If you decide to buy a car from a dealership, you may be expected to pay what's called a holding payment. This takes the car you want off sale and reserves it for you. It shows the dealer that you are serious about buying the car, so he'll make sure that no one else can. This can seem a little strange, especially if you've agreed to put the whole cost of the car on finance, but when the sale is complete, the holding fee should be returned to you.

How much you'll pay will depend on the car and the dealer. However, it's important that you don't pay anything to the dealer until you've spoken to Zuto or your lender and confirmed that the car meets their criteria and you're fully approved. And to be completely sure, double-check with the dealer that the holding fee is refundable too.

Yes, you can. You will have to pay the total outstanding amount on the finance, plus any fees or charges for early repayment. However, you won't be paying as much interest, so you're likely to make a saving overall.

While you're making your monthly payments, the car is still owned by the finance company. Most car finance is hire purchase (HP), which means the finance company buys the car and you buy it from them bit by bit each month, until it's paid for in full.

When you buy things online or over the telephone, like Zuto's services, you have a legal right to cancel within the first 14 days of signing the contract. This is called your 'cooling off period' and, during this time, you do not have to give any reason for wanting to cancel.

If you decide to do this, you'll need to pay the lender the full amount back, plus any interest that's due, but you will still be able to keep the car.

If you have financed a car that you've bought through a private sale, it's going to be harder to return it, if you just decide it's not right for you. This is because a private sale is not governed by the same consumer legislation, so the seller has no obligation to take the car back or refund you. So, it's important that you are 100% happy with the car before you agree to the sale.

Yes, refinancing is something Zuto are often able to help with. If you do decide that you need to change your car in the middle of your agreement, contact Zuto to find out what you need to do.

There's nothing stopping you from applying, as Zuto believe that deciding to work for yourself shouldn't mean missing out. So they have lenders in their panel who can cater for people who are self-employed. You might need to provide some extra proof of income when you apply, something like bank statements from the last three months should do it. But being self-employed is no barrier to applying for finance.

Yes, if you're successfully pre-approved for finance, it means you're free to shop where you like for a car. However, buying from a private seller does come with some extra considerations you'll need to think about. For example, you will not have the same rights as people who buy from a registered business, i.e. a dealership. But this shouldn't put you off, you just need to be sure that you're 100% happy with your purchase before you commit to buying. And, if you were to encounter any issues, Zuto would be there to help.

From start to finish, assuming there are no hiccups along the way, it should take only 2-4 days for you to be picking up your car. In some cases, you can drive your new car away on the same day. But, that doesn't mean you have to rush, your application will remain open for 28 days, so if you've not found a car you want, or the one you want is sold, you have plenty of time.

Unfortunately, you can only apply for finance if you have, at least, three years of address details you can give Zuto. Until you've been here for three years, lenders will be nervous. This is to do with your credit history. Lenders need some idea of what will happen if they let you have the money you're asking for. And they don't feel they can do that if you've been here less than three years. As soon as you hit the three year mark, there's nothing stopping you from applying.

The answer to this question depends on what you're planning on buying. If you're after a motorbike, then you'd be looking at a £1,500 minimum. But, if you're after a car, it's £2000. However, Zuto are pretty flexible and want to try and help as many people as possible, so if you've found a vehicle that you're itching to buy, they'll certainly be happy to talk about it with you.

Unfortunately, UK law states that only those over the age of 18 can legally sign a credit agreement. And if you have only recently turned 18 and never applied for credit before, you still might need a guarantor on your application. That's to do with your credit history, and your lender not being able to see how well you'll keep to the agreement. Having a guarantor on the application makes them a little less nervous, as they'll become responsible for the payments, if you're not able to make them for some reason.