Paying a deposit for car finance can help reduce your monthly payments and the amount of interest you pay. Read our guide to find out what deposit you should make on car finance and how the amount you put down affects your agreement.
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Car finance ›
No-deposit car finance
If you’re unsure about putting down a deposit, you might be looking for no-deposit car finance. Find out how we can help you get car finance without a deposit.
No-deposit car finance
If you’re unsure about putting down a deposit, you might be looking for no-deposit car finance. Find out how we can help you get car finance without a deposit.
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Showing our 4 & 5 star reviews
What is no-deposit car finance?
A deposit is an amount of money you pay at the start of a car finance agreement. If you don’t have the money saved up for a deposit or want to finance a car without waiting to save a large amount, you might wonder if it’s possible to finance a car with no deposit.
Yes, it is possible to buy a new or used car without a deposit. No-deposit car finance allows you to buy a car without paying a deposit. The lender pays the dealer for you, and you make monthly payments over the agreed term.
How does no-deposit car finance work?
Our Conditional Sale (CS) agreements last between 36 and 60 months and mean you legally own the car once your final payment is made.
What is no-deposit car finance?
A deposit is an amount of money you pay at the start of a car finance agreement. If you don’t have the money saved up for a deposit or want to finance a car without waiting to save a large amount, you might wonder if it’s possible to finance a car with no deposit.
Yes, it is possible to buy a new or used car without a deposit. No-deposit car finance allows you to buy a car without paying a deposit. The lender pays the dealer for you, and you make monthly payments over the agreed term.
How does no-deposit car finance work?
Our Conditional Sale (CS) agreements last between 36 and 60 months and mean you legally own the car once your final payment is made.
Paying a deposit for car finance can help reduce your monthly payments and the amount of interest you pay. Read our guide to find out what deposit you should make on car finance and how the amount you put down affects your agreement.
When you get a quote, we use a soft credit check to see how much you could borrow. If you’re approved, we’ll show you what your agreement could look like.
One of our friendly experts will be in touch to discuss your options and help you understand them so you can decide if low or zero deposit car finance is right for you.
Who is eligible for no-deposit car finance?
Whether you can get car finance with a low or no deposit depends on several factors, including your affordability and credit history. Some of our agreements might need a deposit, and as a responsible lender, we’ll only offer finance if the monthly payments suit you.
We’re one of the UK’s biggest specialist car finance lenders, helping thousands of people each month onto a better road ahead. We may be able to help you get car finance with no deposit or a low deposit, even if other lenders have turned you down or if you have a CCJ or IVA.
When you get a quote, we use a soft credit check to see how much you could borrow. If you’re approved, we’ll show you what your agreement could look like.
One of our friendly experts will be in touch to discuss your options and help you understand them so you can decide if low or zero deposit car finance is right for you.
Who is eligible for no-deposit car finance?
Whether you can get car finance with a low or no deposit depends on several factors, including your affordability and credit history. Some of our agreements might need a deposit, and as a responsible lender, we’ll only offer finance if the monthly payments suit you.
We’re one of the UK’s biggest specialist car finance lenders, helping thousands of people each month onto a better road ahead. We may be able to help you get car finance with no deposit or a low deposit, even if other lenders have turned you down or if you have a CCJ or IVA.
To get car finance, you’ll need:
- Monthly earnings over £1,000 (after tax)
- To be aged between 20 and 75
- A full valid UK driving licence
- 2 consecutive months of payslips
We can finance cars that meet our lending criteria:
- Priced between £4,000 and £35,000
- Up to 120,000 miles on the clock
- No older than 15 years by the end of the agreement
To get car finance, you’ll need:
- Monthly earnings over £1,000 (after tax)
- To be aged between 20 and 75
- A full valid UK driving licence
- 2 consecutive months of payslips
We can finance cars that meet our lending criteria:
- Priced between £4,000 and £35,000
- Up to 120,000 miles on the clock
- No older than 15 years by the end of the agreement
Can you get bad credit car finance with no deposit?
Even if you have a low credit score or a bad credit history, you may still be able to get no-deposit car finance.
Your credit score isn’t the only factor lenders use to decide whether to offer you car finance. They also look at your income, affordability, and how you’ve managed credit in the past.
We specialise in helping people get car finance with bad credit. If you have a poor credit history due to previously missed payments, or have been refused car finance before, we could help.
Is there a minimum credit score for no-deposit car finance?
No, there isn’t a minimum credit score required for no-deposit car finance, but having good credit could improve your chances of approval.
Lenders check your credit and affordability before offering car finance to ensure you can afford the monthly payments.
If you have very poor credit, you might need to pay a minimum deposit of £400 to get car finance with us. If so, our team can help you find a suitable agreement.
Can you get bad credit car finance with no deposit?
Even if you have a low credit score or a bad credit history, you may still be able to get no-deposit car finance.
Your credit score isn’t the only factor lenders use to decide whether to offer you car finance. They also look at your income, affordability, and how you’ve managed credit in the past.
We specialise in helping people get car finance with bad credit. If you have a poor credit history due to previously missed payments, or have been refused car finance before, we could help.
Is there a minimum credit score for no-deposit car finance?
No, there isn’t a minimum credit score required for no-deposit car finance, but having good credit could improve your chances of approval.
Lenders check your credit and affordability before offering car finance to ensure you can afford the monthly payments.
If you have very poor credit, you might need to pay a minimum deposit of £400 to get car finance with us. If so, our team can help you find a suitable agreement.
Join thousands of monthly customers like Delroy
When I wanted a new car, I started by doing some research and found Moneybarn. They were willing to give me the amount I wanted as well as offering me the best deal. I would definitely recommend them to my friends and family – Delroy.
Join thousands of monthly customers like Delroy
When I wanted a new car, I started by doing some research and found Moneybarn. They were willing to give me the amount I wanted as well as offering me the best deal. I would definitely recommend them to my friends and family – Delroy.
What type of car finance with zero deposit can I get?
There are several types of car finance, including Conditional Sale (CS), Personal Contract Purchase (PCP), and Hire Purchase (HP). You may be able to get any of these without a deposit, subject to status and affordability checks.
We offer CS car finance. You will be the car’s registered keeper for the duration of the agreement and become the legal owner after making the final payment.
At the start of the agreement, the lender pays the dealership for you. You’ll make fixed monthly payments over a period between 36 and 60 months until the amount you borrowed, plus interest, is paid off.
It is possible to get CS finance with no deposit, depending on your credit history and affordability.
When you make the final payment, we’ll transfer legal ownership of the car to you. Unlike other types of finance like PCP and HP, with CS there is no additional fee or payment needed.
It takes less than 5 minutes to get a quote, and if you’re approved, we’ll show you how much you could borrow.
Better yet, we only use a soft search at the point of application. We only use a hard search once you’ve found your dream car and contracts are drawn up to sign.
How our car finance works
What type of car finance with zero deposit can I get?
There are several types of car finance, including Conditional Sale (CS), Personal Contract Purchase (PCP), and Hire Purchase (HP). You may be able to get any of these without a deposit, subject to status and affordability checks.
We offer CS car finance. You will be the car’s registered keeper for the duration of the agreement and become the legal owner after making the final payment.
At the start of the agreement, the lender pays the dealership for you. You’ll make fixed monthly payments over a period between 36 and 60 months until the amount you borrowed, plus interest, is paid off.
How our car finance works
It is possible to get CS finance with no deposit, depending on your credit history and affordability.
When you make the final payment, we’ll transfer legal ownership of the car to you. Unlike other types of finance like PCP and HP, with CS there is no additional fee or payment needed.
It takes less than 5 minutes to get a quote, and if you’re approved, we’ll show you how much you could borrow.
Better yet, we only use a soft search at the point of application. We only use a hard search once you’ve found your dream car and contracts are drawn up to sign.
Pros and cons of no-deposit car finance
Pros and cons of no-deposit car finance
If you need a car quickly, you might not have time to save up, so a zero deposit agreement could make it more affordable in the short term.
Getting car finance without a deposit may cost more in the long run. This is because you are borrowing more money.
If you have limited savings, no-deposit car finance deals can make car ownership easier, as there is no large upfront payment.
Because you are borrowing more, your monthly payments may be higher or your agreement may be longer than someone who put down a deposit.
If you don’t want to use your savings for a car deposit, a low or no deposit agreement can help you spread the cost over the term.
Some lenders may ask for a minimum deposit if you have very bad credit or if you wish to borrow more than they are willing to lend you.
If you need a car quickly, you might not have time to save up, so a zero deposit agreement could make it more affordable in the short term.
If you have limited savings, no-deposit car finance deals can make car ownership easier, as there is no large upfront payment.
If you don’t want to use your savings for a car deposit, a low or no deposit agreement can help you spread the cost over the term.
Getting car finance without a deposit may cost more in the long run. This is because you are borrowing more money.
Because you are borrowing more, your monthly payments may be higher or your agreement may be longer than someone who put down a deposit.
Some lenders may ask for a minimum deposit if you have very bad credit or if you wish to borrow more than they are willing to lend you.
How to apply for 0 deposit car finance
How to apply for 0 deposit car finance
Get an online quote in under 5 minutes. We use a soft check at the point of application, which won’t impact your credit score and provides an instant decision.
If you’re approved, use our Vehicle Finder to find your dream car. Our friendly experts will be on hand to help with the search, so you can get onto a better road ahead.
We’ll help you with providing any paperwork and signing your agreement. Once your agreement is finalised, we’ll pay the dealership and you can collect your new car!
Get an online quote in under 5 minutes. We use a soft check at the point of application, which won’t impact your credit score and provides an instant decision.
If you’re approved, use our Vehicle Finder to find your dream car. Our friendly experts will be on hand to help with the search, so you can get onto a better road ahead.
We’ll help you with providing any paperwork and signing your agreement. Once your agreement is finalised, we’ll pay the dealership and you can collect your new car!
What cars could I finance with no deposit?
Buying a new car can be exciting, but with many car brands and models available, it can also be stressful. Below are some of our most popular car brands available for finance.
What cars could I finance with no deposit?
Buying a new car can be exciting, but with many car brands and models available, it can also be stressful. Below are some of our most popular car brands available for finance.
Ford’s competitive pricing and wide range of models make them one of the more popular car brands in the UK.
VW is one of the largest UK imports for vehicles and is known for its range including the Volkswagen Polo and Golf.
Audi is known for its quality and innovation, with the A1, A3, and TT being their most popular models.
BMW is a prestigious German car brand, known for its status, luxury, and performance.
Ford’s competitive pricing and wide range of models make them one of the more popular car brands in the UK.
VW is one of the largest UK imports for vehicles and is known for its range including the Volkswagen Polo and Golf.
Audi is known for its quality and innovation, with the A1, A3, and TT being their most popular models.
BMW is a prestigious German car brand, known for its status, luxury, and performance.
FAQs about no-deposit car finance
How much can I borrow to buy a car with no deposit?
How much you could borrow to finance a car with no deposit depends on several factors, including your credit history and affordability. We offer finance for cars between £4,000 and £35,000.
It takes less than 5 minutes to get a quote online, and if you’re approved, we’ll show you how much you could borrow. One of our friendly experts will then contact you to help you find your dream car.
Do I need a good credit rating to get no-deposit car finance?
No, you don’t need a good credit score to get car finance with no deposit. You might be able to buy a car with no deposit and a bad credit score, depending on other factors such as your credit history and affordability.
Does guaranteed car finance with no deposit exist?
No, there isn’t guaranteed car finance with no deposit. You might have seen adverts for ‘no deposit guaranteed car finance’ online, but responsible lenders can’t offer this.
Car finance isn’t one size fits all. Everyone is unique, and so are car finance agreements. Responsible lenders consider many factors to ensure they offer affordable finance. That’s why no lender can promise guaranteed car finance, whether with or without a deposit.
Can I use my current car as a deposit?
Yes, if you want to trade in your current car, you can use it as a deposit. Our team can explain how part-exchange works and how trading in your current car can serve as your deposit.
If your current car is still on finance, the process is a bit different. You’ll need to pay off the existing finance before trading it in. For more details, please see our guide on how part-exchanging a financed car works.
Can you finance a new car with zero deposit?
Yes, you can finance a new car with us with no deposit as long as it meets our lending criteria, subject to affordability checks. Get a quote in less than 5 minutes and ses how much you could borrow.
Can I get used car finance with no deposit?
Yes, if you’re looking to finance a used car without a deposit, we could help. We’re experts at helping people with a low credit score or bad credit history. Even if other lenders have refused you, we could help.
Find out more about getting car finance with bad credit, or if you’re ready, get a quote and see how we can help.
How long does it take to pay off zero deposit car finance?
Buying a car without a deposit could mean spreading the cost over a longer time. Our agreements run from 36 to 60 months. Our team would be happy to discuss your circumstances and find the right agreement length for you.
Does no-deposit car finance take longer to process?
Getting car finance without a deposit works the same way, so it shouldn’t take longer than usual. Our team will be happy to discuss your choices so you can make an informed choice.
Can I pay off a zero deposit car finance deal early?
Yes, you can pay off car finance early, and the process is the same whether you put down a deposit or did not. To do this, you can ask your lender for an ‘early settlement figure’ and pay it.
You can also make a partial early payment, where you pay off a big part of your car finance before the due date.
For more details, see our guide on settling car finance early.
Which car finance option is best when paying no deposit?
Each type of car finance is slightly different, and which one is best depends on the car you want to buy and whether you want to own it at the end of the agreement.
We offer CS finance, which helps people who want to own the car legally at the end of the agreement. If you’re looking to own a new car every year or two, then CS might not be best for you and leasing might be more suitable.
Find out more in our guide to the different types of car finance.
FAQs about no-deposit car finance
How much can I borrow to buy a car with no deposit?
How much you could borrow to finance a car with no deposit depends on several factors, including your credit history and affordability. We offer finance for cars between £4,000 and £35,000.
It takes less than 5 minutes to get a quote online, and if you’re approved, we’ll show you how much you could borrow. One of our friendly experts will then contact you to help you find your dream car.
Do I need a good credit rating to get no-deposit car finance?
No, you don’t need a good credit score to get car finance with no deposit. You might be able to buy a car with no deposit and a bad credit score, depending on other factors such as your credit history and affordability.
Does guaranteed car finance with no deposit exist?
No, there isn’t guaranteed car finance with no deposit. You might have seen adverts for ‘no deposit guaranteed car finance’ online, but responsible lenders can’t offer this.
Car finance isn’t one size fits all. Everyone is unique, and so are car finance agreements. Responsible lenders consider many factors to ensure they offer affordable finance. That’s why no lender can promise guaranteed car finance, whether with or without a deposit.
Can I use my current car as a deposit?
Yes, if you want to trade in your current car, you can use it as a deposit. Our team can explain how part-exchange works and how trading in your current car can serve as your deposit.
If your current car is still on finance, the process is a bit different. You’ll need to pay off the existing finance before trading it in. For more details, please see our guide on how part-exchanging a financed car works.
Can you finance a new car with zero deposit?
Yes, you can finance a new car with us with no deposit as long as it meets our lending criteria, subject to affordability checks. Get a quote in less than 5 minutes and ses how much you could borrow.
Can I get used car finance with no deposit?
Yes, if you’re looking to finance a used car without a deposit, we could help. We’re experts at helping people with a low credit score or bad credit history. Even if other lenders have refused you, we could help.
Find out more about getting car finance with bad credit, or if you’re ready, get a quote and see how we can help.
How long does it take to pay off zero deposit car finance?
Buying a car without a deposit could mean spreading the cost over a longer time. Our agreements run from 36 to 60 months. Our team would be happy to discuss your circumstances and find the right agreement length for you.
Does no-deposit car finance take longer to process?
Getting car finance without a deposit works the same way, so it shouldn’t take longer than usual. Our team will be happy to discuss your choices so you can make an informed choice.
Can I pay off a zero deposit car finance deal early?
Yes, you can pay off car finance early, and the process is the same whether you put down a deposit or did not. To do this, you can ask your lender for an ‘early settlement figure’ and pay it.
You can also make a partial early payment, where you pay off a big part of your car finance before the due date.
For more details, see our guide on settling car finance early.
Which car finance option is best when paying no deposit?
Each type of car finance is slightly different, and which one is best depends on the car you want to buy and whether you want to own it at the end of the agreement.
We offer CS finance, which helps people who want to own the car legally at the end of the agreement. If you’re looking to own a new car every year or two, then CS might not be best for you and leasing might be more suitable.
Find out more in our guide to the different types of car finance.
What is CS car finance?
We offer a Conditional Sale agreement. We’ve written a guide that explains all you need to know about it.
Car finance explained
Our guide explains how car finance works and the different types of car finance available, so you can choose the option that’s right for you.
Our application process
Still not sure how our application process works? No problem! We’ve put together a handy guide that walks you through start to finish.
For a better road ahead
Moneybarn is a member of the Finance and Leasing Association, the official trade organisation of the motor finance industry. The FLA promotes best practice in the motor finance industry for lending and leasing to consumers and businesses.
Moneybarn is the trading style of Moneybarn No. 1 Limited, a company registered in England and Wales with company number 04496573, and Moneybarn Limited, a company registered in England and Wales with company number 02766324. The registered address for these companies is: Athena House, Bedford Road, Petersfield, Hampshire, GU32 3LJ.
Moneybarn’s VAT registration number is 180 5559 52.
Moneybarn Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702781)
Moneybarn No. 1 Limited is authorised and regulated by the Financial Conduct Authority (Financial Services reference No. 702780)
