| Representative APR | Amount | Term | Type |
|---|---|---|---|
| 5.9–24.9% | £4k–£75k | 12–60 mo | car_finance |
Best For
This is ideal for UK residents aged 18 and above who are looking for flexible car financing options and can meet the credit requirements.
Ideal for UK residents with good credit seeking flexible car financing options through a large dealer network.
MotoNovo Finance offers motor finance products with an APR range of 5.9% to 24.9% for amounts from £4,000 to £75,000, with terms between 12 and 60 months.
Pros & Cons
Watch Out
The higher APRs can be a significant burden for borrowers with less-than-perfect credit histories, potentially making repayments expensive.
Full Review
Our team found that MotoNovo Finance offers a wide financing range from £4,000 to £75,000, with terms spanning 12 to 60 months. The same-day decision on applications is a notable benefit, allowing customers to drive away with their new vehicle quickly. While the advertised minimum APR of 5.9% is attractive, applicants with lower credit scores may find themselves facing interest rates closer to the maximum of 24.9%.
This could lead to higher overall costs for those not qualifying for the best rates. The company has a network of over 4,000 dealer partners, enhancing accessibility to a variety of vehicles. However, be prepared to provide proof of income and meet other stringent requirements, which may limit options for some individuals.
Customer service experiences vary, so it’s advisable to check reviews before committing. Overall, MotoNovo Finance is those who can secure lower rates but may not be the best option for everyone due to the potential for high-interest rates.
What Borrowers Say
Borrowers appreciate the quick decision process but caution about the high rates for lower credit scores.
