Frequently asked questions

Have you been impacted by the increased cost of living? We’re here to support you.

We appreciate the rising cost of living is impacting everyone in different ways and this may mean that you have concerns about your financial situation. If you're worried about maintaining your priority bills such as rent/mortgage, utilities and food alongside maintaining your repayments towards your loan then, rest assured, we’re here to help and are committed to providing you with tailored solutions to suit your individual circumstances.

What support is available:

Our friendly Financial Support Team is ready to talk to you and discuss the range of options, for both the long and short term, to help get you back on track, no matter what your situation is.

Please note that any support we provide is likely to be reflected on your credit file and we will let you know what this will mean for you based on your individual arrangement

So that we can ensure that we are supporting you as best as we can, we may need to ask some questions about your circumstances or complete an income and expenditure assessment with you.

We understand that this might be difficult to discuss but the more we understand what you’re going through, the more we will be able to help. When you get in touch with us, please let us know why your income and/or outgoings have been impacted and the effect this has had on what you can afford to pay, for example:

Your energy bill has increased or you are unable to afford essential expenses, such as food. You were previously able to make your contractual payment of £200 but £75 a month is more affordable right now.

You can get in touch with us by

We are always committed to responding to your emails in a timely manner but in periods of high demand, it could take up to 3 working days to reply. If you have an upcoming payment or an urgent query, please don’t hesitate to call us.

Free impartial advice:

Although we're always available to help where we can, there are also several organisations that can provide you with free, impartial advice and support during difficult times, including:

These companies are equipped to offer a range of resources, including; tailored advice around the rising cost of energy bills, budgeting tools to help with managing your expenses and guidance on alternative debt solutions to support you with your finances during this time.

Tell me more about Autolend

Who are we?

Autolend is a trading name of Lendable, an online personal loans platform serving the UK. We set up Lendable in 2014 with a mission to bring personal finance into the digital age and make borrowing money a customer-friendly, hassle-free and convenient experience.

Lendable Ltd, company number 08828186 (previously Feather Media Ltd). Authorised and regulated by the Financial Conduct Authority (FCA) with reference 08828186 and a member of CIFAS (the UK’s leading fraud prevention service). Registered with the Information Commissioner’s Office in compliance with the Data Protection Regulations 2018 under registration ZA041704. Registered office at Lendable, Telephone House, 69-77 Paul St, London, EC2A 4NW Lendable is committed to responsible lending.

Why choose Autolend?

Our platform provides a fast, secure, personalised service. Requesting a quote takes minutes - no long, cumbersome forms to be filled out here! We carry out soft credit searches only, so requesting a quote from us does not affect your credit score. If your loan request is approved we transfer your funds immediately and the money should be with your vehicle retailer within 2 hours. You can pay your loan off early at any time at no charge (meaning you’d pay less interest back overall!). We make every effort to offer all our customers fair treatment and good service.

Are you a lender or a broker?

We are a direct lender.

How do I request a quote?

Autolend products are only available through intermediaries. To request a quote, please visit one of our partners. After you apply for a loan we make an instant decision on whether we can provide you with a quote. We are unable to provide quotes over the phone.

If my loan is approved, how long until the dealer receives the money?

This is pretty much immediate but can take up to two hours (sometimes a little longer during evenings, weekends and bank holidays). We’ll send you an email with the details once the loan has been paid to your retailer.

How much can I borrow?

We offer loans between £1,000-25,000 with terms ranging from 1-5 years (although you can pay your loan off early at anytime - we don’t charge you for this).

How much deposit will I need for a car finance agreement?

We require a deposit of at least 5% of the purchase price of the vehicle. Any part-exchange will be included in your deposit amount.

Is there a loan fee?

When you take out a loan with Autolend, a non-refundable (unless you exercise your 14 day right to cancel) loan fee is added to the loan amount. You do not pay this fee upfront, it is paid via the monthly instalments which are set out in the Terms of the Loan Agreement. The loan fee and interest due on this fee is taken into account in calculating the Annual Percentage Rate (APR). Your quote will detail exactly how much the loan fee is.

Am I eligible for an Autolend loan? I don’t have a perfect credit rating, can I still get a loan with Autolend? Our basic criteria are:

  • You regularly get paid at least £800.00 per month
  • You have been living in the UK for at least 3 years

We look at hundreds of data points from your credit file to make our decision and provide you with a personalised quote. Unlike many other lenders, we only perform a soft credit search, so requesting a loan quote from Autolend will not affect your credit score!

What date will my repayments come out?

Your first repayment will be taken exactly 30 days after the loan is disbursed and on the same day of the month after that. You can select a different date if you’d like - you have the option to do this when you enter your bank details.

Does the credit search damage my credit history?

No. When you request a quote with Autolend we only perform a soft search only which will not affect your credit score.

I have requested a quote and filled in my details, what happens next?

Your application is now with our decisions team. They are reviewing the information provided and will be in touch shortly by email to let you know if the loan has been approved.

My partner has applied for car finance, but wants the car to be registered in my name, is this OK?

The person who applies for finance should be the person who is primarily responsible for the car. The terms of the finance agreement will state that the applicant must be in charge of the car at all times. The dealer will complete the V5 form (log-book) and return it to the DVLA using the details of the person on the finance agreement.

Do you have to have a full UK driving licence?

Yes, given you are applying to buy / rent a car on finance then we will check your entitlement to drive that vehicle.

I have requested an Autolend quote

I’ve filled in all the requested information, sent you the necessary documentation, what happens next?

Your account is now with our decisions team and we’ll be in touch shortly. There’s nothing further to do and you don’t need to stay logged in. We’ll send you an email letting you know the loan is on its way to you, or if we require any additional information. We are open daily from 9am to 6pm. We have a smaller team working at the weekend, and it can sometimes take us a little longer to get back to you.

How do I find my quote?

You can login to view and accept your Autolend quote at anytime. Simply go to our login page page and enter your email address. We’ll then send you a login link, and clicking on this will take you into your Autolend account. No passwords, usernames or secret messages necessary.

How long will my quote stay active for?

Your quote will stay open for 30 days from the day you request it.

How do I send you documents for my quote?

Documents can either be uploaded in your Autolend account, or emailed to contact@autolend.co.uk. We can accept pictures of the original documents taken on a smartphone, please just ensure all the details are visible.

How long does it take for the dealer to receive the funds?

This is pretty much immediate but can take up to two hours (sometimes a little longer during evenings, weekends and bank holidays). We’ll send you an email with the details once the loan has been disbursed to your vehicle retailer.

Why is there a loan fee?

When you take out a loan with Autolend, a loan fee is added to the loan amount which is a charge for using our service.

Your quote will detail exactly how much the fee is. There are no hidden charges and no money will be asked for upfront. The fee is part of your monthly repayments (as shown in your quote), with the first repayment due a month after you have received the funds.

My quote is pre-approved, what does that mean?

This means that we have performed a soft credit search and have been able to provide you with a quote. As long as we can verify the necessary information, we’ll get the loan to you right away if you decide to go ahead. Please note all quotes are subject to manual review by our decisions team, however even if we can’t proceed, this still won’t affect your credit score.

How did Autolend decide on my rate?

When you request a quote from Autolend we assess hundreds of data points enabling us to provide a rate personalised to your circumstances. If you have come through a comparison site you may have seen a representative APR, which is why the rate we provide may be slightly different. As our rates are personalised they are non-negotiable.

Why have I been declined?

Unfortunately, it’s difficult to say exactly why we are not always able to provide a loan. When you request a quote we assess hundreds of data points so there is often not one specific reason someone gets declined. We work with our partnering credit reference agency, Experian, to perform a soft credit search. There is a free service that allows you to view your Experian file (https://www.experian.co.uk/). We are sorry we couldn’t help you this time, but please feel free to re-apply at a later stage.

I already have an Autolend loan

How do I login to my Autolend account?

To login, enter your email address on our login page. We will then send a link to your email address which will log you in automatically.

What if I want to make early loan repayments or pay my loan back in full early?

To make an additional payment towards your loan or to repay in full, please email contact@autolend.co.uk. Let us know the amount that you would like to pay and we will take this by Direct Debit in the following 3-5 working days from the bank account that is set up for your usual monthly payments. Once we’ve set up the payment we will send you a confirmation by email. There are no additional fees or penalty charges at any time for making additional payments or repaying in full.

Can I sell the car?

You will need to repay the outstanding finance before you are legally entitled to sell the car.

Can I modify or make changes to a financed car (e.g. colour, specification, bodywork)?

No, you are not allowed to make any modifications unless we have first authorised this – because until you have made all the outstanding payments due under the agreement, we are still the owner of the vehicle.

My vehicle is faulty, what should I do?

If you were introduced to Autolend by a broker and are experiencing issues with your vehicle, notify your broker that the vehicle seems to be faulty so that they can investigate the matter for you. You would also need to notify us once you have spoken with your broker so we can keep a record of when you made contact.

Please note that the Consumer Rights Act 2015 gives you the right to ask for a full refund in the first 30 days after buying any product that proves to be faulty, including vehicles. If you believe there is a fault, you may need to provide evidence of this.

If a problem is found after 30 days, but within six months of purchase, you can request the vehicle be repaired. At this point, it is the responsibility of the seller of the car to prove the fault wasn’t present when it was sold; if they can, you would be unable to reject the vehicle.

When it comes to repairs, the dealer is entitled to try and fix the fault. If the fix doesn’t work, you are entitled to then reject the vehicle. Please note that any usage of the vehicle will be taken into account and the funds paid to us by the dealership will be adjusted accordingly. If the funds paid to us are less than the amount required to clear the balance on your account, this may mean that you are liable to cover the shortfall.

If a fault appears after six months of ownership, you would need to prove the fault was there at the time of purchase. To do that, you will likely need to have an expert examine the car or get a diagnostic report.

We have a 14 day cancellation period where if you notify us within 14 days of picking up the vehicle, we only require the loan amount to be returned to us. We require the funds to be returned to us within 30 days from you notifying us that you would like to cancel the agreement.

Outside of the cancellation window, this becomes a settlement, where any interest that has accrued, alongside the loan fee, becomes payable. Please note that if any repairs take you outside of the 14 day cancellation period, this would still be considered a settlement. We would therefore recommend that you contact us in the first instance that you are experiencing issues with the vehicle.

Should you have any difficulty exercising your rights as outlined above or are unhappy with their response, please contact complaint@autolend.co.uk so we can investigate this further for you.

How do I change my monthly repayments?

The monthly repayments you see in your quote are fixed. We are unable to reduce these over the course of your loan.

How do I cancel my loan?

After taking out an Autolend loan you have up to 14 days to change your mind and cancel the loan. If you would like to do so please get in touch at contact@autolend.co.uk

How do I change my repayment date?

Drop us an email at contact@autolend.co.uk and we’ll do this for you!

How do I edit my details?

To update any details in your account (including bank details, your address etc) please just send us an email with the new information to contact@autolend.co.uk

What should I do if I’m having trouble repaying my loan?

You are advised to contact us immediately at contact@autolend.co.uk or by calling us on 020 3322 1916 if you are experiencing financial difficulties and believe that you will be unable to meet your repayment.

We appreciate the rising cost of living is impacting everyone in different ways and this may mean that you have concerns about your financial situation. If you're worried about maintaining your priority bills such as rent/mortgage, utilities and food alongside maintaining your repayments towards your loan then, rest assured, we’re here to help and are committed to providing you with tailored solutions to suit your individual circumstances.

We may need to carry out an income and expenditure process with you to help ensure that we are able to offer you the most appropriate options based on your circumstances. Please be as open and transparent as possible about your situation when talking with us, so that we can help make sure we give you options that meet your needs.

Any support we provide is likely to be reflected on your credit file, and we will let you know what this will mean for your credit file based on your individual arrangement.

We will never ask you to make a payment that is unaffordable.

You can always speak to these other independent organisations for free, confidential, and impartial advice:

StepChange Debt Charity – www.stepchange.org or phone 0800 138 1111

The National Debtline – www.nationaldebtline.org or phone 0808 808 4000

Money Advice Service – www.moneyadviceservice.org.uk or phone 0800 138 7777

You can find out more information about coronavirus on the NHS 111 online website https://111.nhs.uk/covid-19 and the UK Government website https://www.gov.uk/coronavirus.

Option to purchase fee

A £25 Option to Purchase fee will be charged at the end of the term of your agreement to transfer ownership of the vehicle to you

Loan term limit

The term of your loan cannot be extended, but you can make early repayments if you wish to repay your loan earlier. Alternatively after making a partial repayment you can choose for your remaining instalments to be reduced but your term will remain the same.

Excess mileage charges

If your car is returned to Autolend for any reason during the term of the agreement, an excess mileage fee may be charged.

Vehicle ownership in the event of cancellation

You have a right to withdraw from your loan. This right begins on the day after the day you receive a copy of your executed agreement from us and ends 14 days later. If you withdraw from your agreement, please note that you would only be withdrawing from your agreement and not the agreement to purchase the Vehicle.

© Autolend 2024