No Deposit
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Rates from 7.9% APR. Representative APR 20.7%
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Rates from 7.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 20.7%, an annual interest rate of 20.7% (Fixed) and a deposit of £0.00, the amount payable would be £168.48 per month, with a total cost of credit of £3,608.67 and a total amount payable of £10,108.67.

We look to find the best rate from our panel of lenders and will offer you the best deal that you’re eligible for. We don’t charge a fee for our service, but we do earn a commission. This does not influence the interest rate you’re offered in any way.

Can I get car finance with no deposit?

No deposit? No problem! You can get car finance with no deposit.

If you’ve found the car of your dreams – or yours has just given up the ghost – you don’t need to dip into your savings or wait until you’ve built up a nice nest egg to buy a used car.

We know it sounds too good to be true, but we work with lenders that can offer 0 deposit car loans for used cars.

Some dealerships might ask you for a reservation fee, but you could find a car and drive it away without paying a penny upfront!

What is no deposit car finance?

Looking for no deposit car finance? You could secure your new car without paying a penny upfront! Watch this short video to find out more

No Deposit Finance Options

No deposit car finance is available whether you’re looking for a personal loan, hire purchase or personal contract purchase deal.

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 car deals with no deposit give you 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.

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 finance loan. This could increase your monthly repayments or make your loan period longer, meaning you’ll pay back more in the end due to interest.

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, regardless of your personal circumstances, some no deposit car finance deals are only available to applicants with good credit ratings. 

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 car finance?

For us, used car finance is all about helping people improve their everyday lives.

Whether it’s sorting out the school run, getting that big boot for the big shop, or just a car you’re proud to park outside the office, we’ll work to get you the best deal from our panel of lenders.

We can look to find car finance with no deposit for people with a variety of circumstances. Plus, you’ll have a dedicated account manager on hand to help.

What’s next? How no deposit car finance works

Whether you’re looking for a Peugeot on PCP, a Honda on HP, or a personal loan for a Land Rover, we could help!

It all starts with a quote. If you’re approved in principle, your account manager will then give you a call to talk through your options. No strings attached. They can answer any questions you have and give you access to our car search – a treasure trove of over 120,000 used cars ready and waiting to find a home. Found a car elsewhere? We can still help – just let your account manager know.

Frequently asked questions

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.


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.


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.


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.


At CarFinance 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.


Whether you’re looking for a hot hatch, stylish supermini, or seven-seater SUV for the family, CarFinance 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.


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.


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!


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


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.


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* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. (Registration Number 06035525).

CarFinance 247 is authorised and regulated by the Financial Conduct Authority for insurance distribution and credit broking (Firm Reference Number: 653019). CarFinance 247 is registered with the ICO (Registration Number Z1897658).

Finance is subject to status and is only available to UK residents aged 18 and over. Written quotations are available on request.

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