Financial comparison site KnowYourMoney has launched a revamped platform for consumers to find motor finance products online.

KnowYourMoney’s platform allows consumers to check their eligibility for car finance and compare the products on offer from different lenders.

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The proposition has been launched in partnership with Carbon Finance, which provides the smart search solution specifically for car finance products.

Users enter information about themselves, the amount they are looking to borrow and over what period. Through Carbon Finance’s function, requests are sent to car finance providers’ Application Programming Interfaces (APIs); users are then presented with a list of lenders, types of finance, chances of acceptance, monthly costs, and exact interest rates (APR).

The platform is free to use, comparing many of the leading market lenders and creates personalised quotes.

Genevieve Watts, senior channel manager for car finance at KnowYourMoney, said: “We are delighted to launch our new and improved car finance comparison platform. Car finance has become the go-to option for the majority of car-buyers across the UK, so it was imperative that we had a fast and easy-to-use tool so motorists can find the best possible deal.

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“Providing transparent and useful information to help consumers make sound financial decisions is KnowYourMoney’s goal – Carbon Finance share this objective, which makes the partnership a natural fit for both parties. We were already witnessing more than 40,000 visitors per month to our old car finance comparison platform. Thanks to the upgrades we’ve made with Carbon Finance, we are excited to welcome even more car-buyers to our platform in the months and years ahead.”