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No Deposit Car Finance

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Rates from 8.9% APR. Representative APR 19.9%.
Car Finance 247 Limited is a credit broker, not a lender.
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ford fiesta

Rates from 8.9% APR. Representative Example 19.9% APR. Hire Purchase (HP) Example: Borrow £10,000 over 5 years with a £0 deposit. Representative APR 19.9% fixed rate. Monthly payment: £255.50. Option to purchase fee £10 payable. Total cost of credit: £5,340.00. Total amount repayable: £15,340.00.
Car Finance 247 Limited is a credit broker not a lender.

Rated 'Excellent' by our customers

Can I get car finance with no deposit?

No deposit? We could help! Most of our lenders offer car finance with no deposit.

If you’ve found the car of your dreams – or yours has just given up the ghost – you may not need to dip into your savings to buy a used car.

During the process, some dealerships might ask you for a reservation fee, but you could find a car and drive it away without putting any money down upfront!
Apply now to get your decision in minutes

No Deposit Finance Options

No deposit car finance may be available when looking to finance your car.

With a personal loan, you won’t normally need to pay a deposit. Once you’ve received the loan and paid the seller, the car will be all yours. All you’ll need to worry about is keeping up with your monthly repayments.

PCP agreements typically require a deposit, but you'll have lower monthly repayments and more options when your agreement ends. With a personal contract purchase, you’ll typically pay fixed monthly repayments until the end of your loan period. You can then either return the car, buy it by paying the one-off balloon payment, or use any positive equity as a deposit in a new deal.

Terms and conditions will apply. You might have an annual mileage limit and you’ll need to make sure you don’t damage the car to avoid extra charges.

An HP loan with no deposit will usually have higher monthly repayments than PCP, but if you keep up with your repayments and pay the ‘Option to Purchase’ fee, you’ll own the car at the end of your agreement.
Apply now to get your decision in minutes

Pros and cons of no deposit car finance

The best thing about no deposit car finance is…no deposit! You can drive away in your new car without having to pay anything upfront. That means there’s no need to wait and save up or use money you’d set aside for home improvements or your next summer holiday.

But it’s worth keeping in mind that if you don’t pay a deposit, you’ll have more money to pay back on your loan. This will increase your monthly repayments or make your loan period longer, meaning you’ll pay back more in the end due to higher interest charges.
Apply now to get your decision in minutes
From our expert
“Choosing a no deposit option is great because it allows you to get behind the wheel of your new car without having to pay a hefty upfront cost. It's perfect for those who want to keep their savings intact while still enjoying the convenience and freedom of a new car.”
Louise Haines
Louise Haines
Head of Partnerships at Car Finance 247

No Deposit Car Finance Calculator

£
£3,000£200,000
£
Term
Finance type
Vehicle price£10,000.00
Deposit£0.00
Amount to finance£10,000.00
APR
9.9%
Optional final payment*£4,589.42
Option-to-purchase fee£10.00
Total cost of credit£2,820.53
Total amount repayable£12,820.53
47 monthly payments of£175.13
*Optional final payment includes a £10 option-to-purchase fee. Annual mileage limit of 10,000 miles, excess mileage fee of 8p/mile.
Rates from 8.9% APR. Representative APR 19.9%.
Personal Contract Purchase (PCP) Representative Example 12.9% APR: Car price £25,000.00, Term 4 years, Deposit £2,500.00, Total amount of credit £22,500.00, Representative APR 12.9% fixed rate, Monthly payment £394.69, Option to purchase fee £10 payable, Total cost of credit £8,738.50, Total amount payable £33,748.50, Optional final payment £12,688.07, Annual mileage 8,000pa.

Am I eligible for no deposit car finance?

While we’ll always work to get the best deal for you from our panel of lenders, it's not always possible to offer no deposit car finance. This will be subject to lender requirements and based on your personal circumstances. 

If you’re not sure whether you’re eligible or which car finance option could work best for you, your dedicated account manager can guide you through the process. Get a quote to find out more.

Why come to us for no deposit car finance?

A helping hand

At Car Finance 247, used car finance is all about helping people improve their everyday lives. We understand that building a good credit score isn’t always easy, and we believe that people should not be penalised for past mistakes. Unfortunately, some individuals find themselves trapped in a cycle, hindered by the lack of a vehicle, impeding both their commute to work and their ability to improve their credit score.

Dedicated account manager

Plus, you’ll have a dedicated account manager on hand to help guide you through the process, so there’s nothing to worry about.

Finding you the best deal

Whether it’s sorting out the school run, getting that big boot for the big shop, or a car you’re proud to park outside the office, we’ll work to find you the best deal from our panel of lenders, even if you have bad credit.
Apply now to get your decision in minutes

We only work with trusted partners and lenders

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Making car finance simple for 450,000+ customers

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It was stress-free, really helpful and I would definitely recommend
Hannah Bought a Fiat 500
Very good customer service, very quick and simple. Definitely would recommend using them, very happy
Molly
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It was a pleasant experience, I'd recommend them to anyone
Michael Bought an MG HS
It was so easy and hassle free, most of it done over WhatsApp which was really good for me with working long hours. And the staff were fantastic.
Overall very happy with the service
Jack
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Everything was clear and explained perfectly
Kudzai Bought a Ford Focus
My experience was really great with these guys. Easy quick and effective. Kept me in loop all the way and got me finance approved when everyone else couldnt. Highly recommend them.
Harjinder

Frequently Asked Questions

  • What is no deposit finance?

    When you buy a car on finance, you’ll be asked if you want to put down a deposit. This can contribute towards the loan and be paid in cash or with a part-exchange. Putting down a deposit may improve your chances of being approved or reduce your overall loan amount. However, not everyone has a car to trade in or savings for an upfront payment, which is where no deposit car finance comes in.

  • How long will I have to pay off a zero deposit finance deal?

    The total length of your finance agreement will depend on the type of car finance deal you choose, your individual circumstances, and the lender’s criteria. Typically, a long loan period will mean lower monthly repayments, but you might pay back more overall with interest included.

  • Can I keep the car once the finance is paid off?

    Yes, but it depends on the type of agreement you have. With a hire purchase agreement, the car will be all yours as soon as you’ve finished all your repayments and paid the ‘Option to Purchase’ fee. But with PCP car finance, you’ll only own the car if you choose to pay the balloon payment.

  • Can I pay off the deal early?

    If you wish to end your car finance agreement early, you may be able to request a settlement figure. This depends on the type of agreement you have.

  • Can I get car finance with no deposit if I have bad credit?

    At Car Finance 247, we work with a panel of lenders and several of them can help people with bad credit find finance. We may be able to find you a no deposit deal, even if you have a bad credit rating. Find out more about our bad credit car finance options.

  • Which cars are available with no deposit finance?

    Whether you’re looking for a hot hatch, stylish supermini, or seven-seater SUV for the family, Car Finance 247 can help you find the right finance deal for you. We work with a panel of lenders and some of them do have minimum requirements for a car’s age or mileage. Your account manager will be able to explain the options available.

  • How much can I borrow without a deposit?

    There’s no limit to how much you can borrow without a deposit if you’re eligible for the loan. We work with lenders that can help finance vehicles between £2000 and £100,000.

  • Does a no deposit deal take longer to process?

    No, a finance deal with no deposit takes the same amount of time to process as any other application. When you apply with us, you’ll get a decision in minutes and could be driving away within days!

  • Can I get a no deposit deal if I’m under 18?

    No, you must be over 18 to take out any type of car finance agreement.

  • What are the requirements for no deposit car finance?

    Lenders will take a range of factors into account when deciding whether you are eligible for no deposit car finance – and it’s not just about your credit score. You must be over 18 and able to afford the loan. Affordability is assessed by looking at your disposable income and credit history. If you have missed payments in the past, had CCJs, or an IVA, you may also find it more difficult to secure car finance with no deposit.