FAQs

We’re quite flexible – you can put down as much or as little as you want, even £0 deposit if that suits you. Of course, paying a deposit (like 10% or any amount) will reduce your monthly payments, but if you prefer a zero-deposit deal, that’s possible too, subject to credit approval. So, in short, there’s no fixed required deposit; it depends on what you’re comfortable with and what the finance approval comes back with. Many customers choose to pay something upfront, but it’s not mandatory.

Congrats on the approval! Next, we’ll finalize the paperwork. You’ll likely receive a finance agreement to sign (often electronically). We’ll also arrange the vehicle handover details with you – such as setting a date for collection or delivery and taking any deposit payment if you haven’t paid it yet. Basically, once approved, it’s about signing the contract and then picking up your car. We handle the liaison with the finance company, so after you sign, we draw down the funds from them and you get the car on the agreed date.

At the end of a PCP, you’ve got three options: 1) Pay the final balloon payment to keep the car (this is also called the Guaranteed Future Value payment). If you pay that, the car is yours outright. 2) Hand the car back to the finance company. You’ll hand back the vehicle and, as long as it’s within the agreed mileage and in fair condition, you have nothing more to pay (if it’s exceeded mileage or has excessive damage, charges might apply). 3) Part-exchange the car for a new one – often customers will use any equity (if the car is worth more than the balloon) towards a new car. Basically, you can keep it, hand it back, or trade it in.

We’ll start with a quick pre‑qualification to estimate the APR you’re likely to be offered. You can run this check yourself on our website or call us and we’ll do it with you. Once you’re happy, we’ll complete the full finance application together over the phone.

Part-exchange is simple: you tell us about your current car (either online via a form or in-person at a branch) and we give you a valuation for it. This is usually a no-obligation quote based on the car’s details (age, mileage, condition, etc.). If you’re happy with it, you can then proceed with the trade-in as part of buying your new car. When it’s time to hand over, you bring your old car to us. We inspect it to ensure its condition matches what was described, finalize the trade-in paperwork, and then the agreed part-exchange value is deducted from the price of your new Carsa car.

Your monthly payments will be set up as a direct debit with the finance lender. Typically, you’ll select or be assigned a monthly due date (for example, the 1st of each month). After you sign the finance agreement and take the car, the first payment usually comes out about one month later. From then, it’s an automatic monthly debit from your bank account for the agreed amount, on the same date each month, until the finance term is complete.

The monthly payment depends on the car price, your deposit, the finance term, and the interest rate. Each car on our website can show an example finance quote with an estimated monthly payment. For a precise figure, we’d tailor a quote to your situation. We’d need to know how much (if anything) you want to put down, which car you are interested in and over how many years. For PCP we would also need to know your annual mileage. Then we can tell you exactly what the monthly cost would be.

If you're paying upfront, it's paid at the time you purchase the policy (usually when you buy the car). If you're paying via a monthly plan or as part of your car finance, then the payments will start alongside your car finance payments – typically one month after you collect the car. Essentially, there's no delay: you'll either pay at purchase or your installments will begin in the first billing cycle after the sale.