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Close Brothers vs Oodle: Which Car Finance Fits You?
Compare dealer-only finance with Oodle’s online HP process, including APRs, credit checks, ownership, speed and broker limitations.
You're choosing between established dealer finance and a faster online application. Here's what actually matters: Close Brothers Motor Finance gives you access to HP and PCP through dealers and brokers, while Oodle focuses on used-car HP with a soft credit search and decisions in minutes.
The headline rates are not directly comparable. Close Brothers is listed from 5.9%, while Oodle is listed from 7.9%; your actual APR can change sharply with your credit history, vehicle and dealer arrangement.
Rates and terms shown are representative. Your actual rate depends on your credit profile and circumstances. This is not financial advice — always read the lender's terms before applying.
Best overall: Close Brothers Motor Finance for buyers comparing HP and PCP at a dealership.
Best for a quick online decision: Oodle Car Finance for used-car buyers who want a soft search first.
Best for damaged credit: Moneybarn Car Finance, though the potential APR is dramatically higher.
Dealer finance with lower advertised rates
The lowest advertised figures in this comparison belong to established dealer lenders. That can reduce the monthly payment, but access and pricing depend heavily on the dealership or broker presenting the agreement.
Close Brothers Motor Finance
The 5.9% headline rate is the strongest figure in this head-to-head, and Close Brothers supports both HP and PCP for new and used cars. The limitation matters: you cannot apply directly, and the dealer or broker may influence the rate through its margin. I’d choose it over Oodle if you are already buying from a dealer and want the option of a final balloon payment through PCP. Check the agreement and total amount payable rather than judging the deal by APR alone.
Close Brothers Motor Finance
Black Horse Car Finance
Black Horse lists PCP rates from 4.9%, below Close Brothers’ 5.9% figure, and it has the reach of Lloyds Banking Group plus availability at many UK dealerships. That advertised rate may be tied to specific vehicles, dealer campaigns or strong credit profiles, so it is not a guaranteed saving. Compared with Close Brothers, it gives a similarly established route into HP or PCP but less control over the application because the dealer remains the gateway.
MotoNovo Finance
MotoNovo’s listed rate starts at 5.9%, matching Close Brothers, and its reported network of more than 4,000 dealerships gives it broad reach for new and used cars. HP and PCP are both available, which makes it more flexible than Oodle’s HP-only structure. The official page supplied for this comparison returned a 404, so verify current pricing and terms directly before treating the headline rate as live.
MotoNovo Finance
Black Horse has the lowest advertised starting rate here, but a low starting figure is only useful if the vehicle and your credit profile qualify. For current product details, compare the lender pages for Black Horse car finance, Close Brothers Motor Finance and MotoNovo Finance.
How the dealer route affects cost
Dealer finance is convenient, but it narrows your view of the market. Ask for the cash price, deposit, term, monthly payment, optional final payment and total amount payable separately. A dealer can present a comfortable monthly figure by extending the term or adding a large final payment.
Online HP and specialist borrowing
Oodle and Moneybarn solve different problems. Oodle prioritises a quick soft-search journey for used cars; Moneybarn considers weaker credit profiles but can charge far more for the privilege.
Oodle Car Finance
Oodle is the cleaner online experience: its site says applicants can find out if they may be approved in minutes without affecting their credit score, and it reports 4.7 out of 5 from 21,406 Trustpilot reviews. The price of that simplicity is a higher listed starting rate of 7.9%, HP only, and used cars only. Choose it over dealer finance if you want an early indication before committing to a vehicle, but remember that a soft search is not final approval and the final rate can rise.
Oodle Car Finance
Moneybarn Car Finance for Poor Credit
Moneybarn is the useful comparison that changes the question from ‘which rate is lowest?’ to ‘can I get approved at all?’ Its representative APR is 30.7%, with rates listed as high as 69.9%, for borrowers with poor or limited credit. Cars range from £3,000 to £25,000 and the agreement is HP, so ownership follows after the final payment. I would only put this ahead of Oodle or dealer finance after checking the total repayable and exhausting cheaper options.
Moneybarn Car Finance for Poor Credit
Zuto Car Finance
Zuto sits between a direct online journey and dealer finance: it is a broker that compares multiple lenders, advertises decisions in 60 seconds without a credit-score impact, and lists rates from 8.9% with a representative APR of 18.5%. Its 4.8 Trustpilot rating and access to thousands of dealer cars add useful choice, but the representative rate is much higher than the 5.9% dealer figures. Use it as a comparison route, not proof that the cheapest lender has been found.
Zuto Car Finance
Oodle is the strongest fit for a used-car buyer who values speed and wants a soft search first. Moneybarn is a last-resort route for damaged credit, not a cheap borrowing solution. Zuto adds lender choice, but its broker status means you still need to inspect who is actually providing the agreement and what commission or pricing structure applies.
What the monthly payment can hide
Suppose you finance £10,000 over four years. A rate near 5.9% would produce a much lower total cost than an APR near 30.7%, even before deposits, fees or optional final payments enter the calculation. The exact figure depends on the agreement, so use each provider’s calculator or request a written quotation showing the total amount payable.
Head-to-head comparison
| Provider | Advertised rate | Finance type | Application route | Best for |
|---|---|---|---|---|
| Close Brothers | From 5.9% | HP and PCP | Dealer or broker | Established dealer finance with flexibility |
| Black Horse | From 4.9% | HP and PCP | Dealership | Buyers eligible for a dealer campaign rate |
| MotoNovo | From 5.9% | HP and PCP | Dealership | Used or new cars through a broad dealer network |
| Oodle | From 7.9% | HP | Online | Fast soft-search decisions for used cars |
| Zuto | From 8.9%; representative 18.5% | HP or PCP via lenders | Online broker | Comparing several lenders in one journey |
| Moneybarn | Representative 30.7%; up to 69.9% | HP | Dealer network | Poor or limited credit |
The verdict
Close Brothers wins for most dealership buyers who want a choice between HP and PCP. Its listed 5.9% starting rate is materially below Oodle’s 7.9%, and its established dealer network makes it easier to arrange finance alongside a vehicle purchase. Black Horse deserves a rate check because its advertised 4.9% starting point is lower, but eligibility and vehicle-specific conditions matter.
Pick Oodle if you are buying a used car and want a quick online indication through a soft credit search. Pick Zuto if comparing several lenders matters more than accessing the lowest advertised starting rate. Consider Moneybarn only after cheaper routes fail; a representative APR of 30.7% can turn a necessary car into a very expensive one.
Before signing, compare total amount payable, deposit, term, mileage conditions on PCP, optional final payment and any settlement rules. The lowest monthly payment is not automatically the cheapest agreement.
For the wider spread between low-rate dealer deals and specialist bad-credit finance, read Car Finance Rates Span 4.9% to 69.9% APR — it puts the pricing gap into context.
