No deposit car finance

If you don’t want to put down a deposit for a car, you might have heard about no deposit car finance. Find out how car finance with no deposit works, and whether it’s right for you.

No deposit car finance

If you don’t have the money to make a deposit for a new car, then you could consider getting no deposit car finance. Car finance with no deposit could help you to spread the cost over time.

What is no deposit car finance?

If you don’t have the money to put down a deposit, no deposit car finance lets you borrow the money for a new car, without having to pay a lump sum upfront. This means you don’t pay anything at the start of the car finance agreement.

Car finance with a low or no deposit can help spread the cost of a new car over time. You then make monthly repayments until the finance amount is paid off. Our agreements last between 36 and 60 months, and once you make the final repayment you will legally own the car.

We recognise that it might be hard to put together a deposit for car finance. It’s important to live affordably, and our team would be happy to discuss your options if you are looking to buy a car with zero deposit.

How do I get no deposit car finance?

Yes, we can offer car finance without a deposit, but getting approved for it depends on several factors. Some of our agreements may require a deposit based on individual factors such as credit score and affordability.

If you’re not sure where to start, try out our car finance calculator to see what your agreement might look like.

It takes less than 5 minutes to get a quote. We use a soft search at the point of application, which does not impact your credit score. It gives you an instant decision of whether we can help. We only use a hard search when you decide you’d like to enter into an agreement with us and contracts are drawn up.

What is no deposit car finance?

If you don’t have the money to put down a deposit, no deposit car finance lets you borrow the money for a new car, without having to pay a lump sum upfront. This means you don’t pay anything at the start of the car finance agreement.

Car finance with a low or no deposit can help spread the cost of a new car over time. You then make monthly repayments until the finance amount is paid off. Our agreements last between 36 and 60 months, and once you make the final repayment you will legally own the car.

We recognise that it might be hard to put together a deposit for car finance. It’s important to live affordably, and our team would be happy to discuss your options if you are looking to buy a car with zero deposit.

How do I get no deposit car finance?

Yes, we can offer car finance without a deposit, but getting approved for it depends on several factors. Some of our agreements may require a deposit based on individual factors such as credit score and affordability.

If you’re not sure where to start, try out our car finance calculator to see what your agreement might look like.

It takes less than 5 minutes to get a quote. We use a soft search at the point of application, which does not impact your credit score. It gives you an instant decision of whether we can help. We only use a hard search when you decide you’d like to enter into an agreement with us and contracts are drawn up.

To get started, 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 provide car finance as long as it meets our lending criteria:

  • Financing a car from £4,000-£35,000
  • The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
  • No more than 15 years old by the end of the agreement (depending on your loan offer)

If you don’t have a particular car in mind, don’t worry. Our team can help find the right car for you.

To get started, 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 provide car finance as long as it meets our lending criteria:

  • Financing a car from £4,000-£35,000
  • The car can have a mileage up to 120,000 at the start of the agreement (depending on your loan offer)
  • No more than 15 years old by the end of the agreement (depending on your loan offer)

If you don’t have a particular car in mind, don’t worry. Our team can help find the right car for you.

Can I get bad credit car finance with no deposit?

Having poor credit can make it more difficult to get car finance, so you might be wondering if it stops you from getting car finance with no deposit. Putting down a deposit, even if it is a low deposit, can increase your chances of getting a finance agreement.

If you have very bad credit, it might mean you need to put down a minimum deposit of £400 to get car finance with us. If that is the case, our team would be happy to help find a suitable vehicle for you.

It’s important to know that credit score isn’t the only factor that lenders use to decide whether to offer you car finance. Other factors include income, affordability, and how you’ve managed credit in the past.

Bad credit can be caused by lots of factors. It might be because you missed payments before, or have a CCJ or IVA. Whatever the case, we have over 30 years of experience helping people with bad credit onto a better road ahead. Even if you’ve been refused by other lenders, we could help.

Can I get bad credit car finance with no deposit?

Having poor credit can make it more difficult to get car finance, so you might be wondering if it stops you from getting car finance with no deposit. Putting down a deposit, even if it is a low deposit, can increase your chances of getting a finance agreement.

If you have very bad credit, it might mean you need to put down a minimum deposit of £400 to get car finance with us. If that is the case, our team would be happy to help find a suitable vehicle for you.

It’s important to know that credit score isn’t the only factor that lenders use to decide whether to offer you car finance. Other factors include income, affordability, and how you’ve managed credit in the past.

Bad credit can be caused by lots of factors. It might be because you missed payments before, or have a CCJ or IVA. Whatever the case, we have over 30 years of experience helping people with bad credit onto a better road ahead. Even if you’ve been refused by other lenders, we could help.

When I knew I wanted a new car, I started by doing some research which showed me Moneybarn. They were willing to give me the amount I wanted as well as offering me the best deal. I would definitely recommend Moneybarn to any of my friends or family – Delroy.

A Moneybarn customer in their car
A Moneybarn customer in their car

When I knew I wanted a new car, I started by doing some research which showed me Moneybarn. They were willing to give me the amount I wanted as well as offering me the best deal. I would definitely recommend Moneybarn to any of my friends or family – Delroy.

Are there any downsides to no deposit car finance?

Paying a deposit upfront can help with getting a car when it’s slightly outside your affordability, as it helps to reduce the monthly payments.

Getting no deposit car finance might make a car more affordable in the beginning, however it might cost you more in the long run. This is because you’ll borrow a larger amount of money to cover the cost of the car. This means you will pay back more over the duration of your agreement, as there will be more interest added.

Not putting down a deposit also means that your finance period could be longer. This means you may have to pay back more interest.

If you’re not sure about making a deposit, our team can explain the options available to you, so you can make an informed decision.

What affects my eligibility for car finance with no deposit?

Everyone is different, and so is everyone’s eligibility for car finance. There are lots of different personal factors that a lender looks at to decide whether to offer you car finance.

We’ve written a guide that explains some things you could do that might increase your chances of getting finance. Some of these are:

  • Check your credit score to see whether or not you have a good credit score
  • Only apply for finance that you know you can afford
  • Avoid making too many applications for credit in quick succession
  • Make sure you aren’t financially linked to a bad borrower

Having good credit can also improve your chances, so its worth seeing what you can do to improve your credit score. There is no particular credit score needed to get zero deposit car finance, however having good credit could help.

What cars could I finance with no deposit?

We understand how important is to get a reliable car that you can trust to get you around. Whether that’s commuting to work, taking the children to school, or getting around day to day, our team can help you find the right car.

Buying a new car is exciting but with so many choices it can also be a stressful process. Whether that’s new or used, automatic or manual, we can provide finance on a car as long as it meets our lending criteria.

We’ve written a guide to the top car brands. It explains the pros and cons of each brand, so you can make an informed decision.

Or maybe you’re considering the switch to hybrid or electric? It may be possible to get hybrid car finance or electric car finance with 0 deposit.

Are there any downsides to no deposit car finance?

Paying a deposit upfront can help with getting a car when it’s slightly outside your affordability, as it helps to reduce the monthly payments.

Getting no deposit car finance might make a car more affordable in the beginning, however it might cost you more in the long run. This is because you’ll borrow a larger amount of money to cover the cost of the car. This means you will pay back more over the duration of your agreement, as there will be more interest added.

Not putting down a deposit also means that your finance period could be longer. This means you may have to pay back more interest.

If you’re not sure about making a deposit, our team can explain the options available to you, so you can make an informed decision.

What affects my eligibility for car finance with no deposit?

Everyone is different, and so is everyone’s eligibility for car finance. There are lots of different personal factors that a lender looks at to decide whether to offer you car finance.

We’ve written a guide that explains some things you could do that might increase your chances of getting finance. Some of these are:

  • Check your credit score to see whether or not you have a good credit score
  • Only apply for finance that you know you can afford
  • Avoid making too many applications for credit in quick succession
  • Make sure you aren’t financially linked to a bad borrower

Having good credit can also improve your chances, so its worth seeing what you can do to improve your credit score. There is no particular credit score needed to get zero deposit car finance, however having good credit could help.

What cars could I finance with no deposit?

We understand how important is to get a reliable car that you can trust to get you around. Whether that’s commuting to work, taking the children to school, or getting around day to day, our team can help you find the right car.

Buying a new car is exciting but with so many choices it can also be a stressful process. Whether that’s new or used, automatic or manual, we can provide finance on a car as long as it meets our lending criteria.

We’ve written a guide to the top car brands. It explains the pros and cons of each brand, so you can make an informed decision.

Or maybe you’re considering the switch to hybrid or electric? It may be possible to get hybrid car finance or electric car finance with 0 deposit.

Ford

Ford

Ford’s competitive pricing and wide range of models make them one of the more popular car brands in the UK, with models like the Ford KA, Fiesta, and Focus.

Find out more about Ford car finance.

Volkswagen

Volkswagen

Today, VW is one of the largest UK imports for vehicles and is known for its range and variety of models. Their most popular ones include the Volkswagen Polo and Golf.

Find out more about VW car finance.

Audi

Audi

Audi is known for its quality and innovation, being the premium brand in the Volkswagen Group, the A1, A3, and TT are their most popular models.

Find out more about Audi car finance.

BMW

BMW

BMW is a prestigious German car brand, known for its status, luxury, and performance. Their most popular models include the BMW 1 Series, 2 Series, and 3 Series.

Find out more about BMW car finance.

Ford

Ford

Ford’s competitive pricing and wide range of models make them one of the more popular car brands in the UK, with models like the Ford KA, Fiesta, and Focus.

Find out more about Ford car finance.

Volkswagen

Volkswagen

Today, VW is one of the largest UK imports for vehicles and is known for its range and variety of models. Their most popular ones include the Volkswagen Polo and Golf.

Find out more about VW car finance.

Audi

Audi

Audi is known for its quality and innovation, being the premium brand in the Volkswagen Group, the A1, A3, and TT are their most popular models.

Find out more about Audi car finance.

BMW

BMW

BMW is a prestigious German car brand, known for its status, luxury, and performance. Their most popular models include the BMW 1 Series, 2 Series, and 3 Series.

Find out more about BMW car finance.

Can I get guaranteed car finance with no deposit?

No, as a responsible lender, we don’t offer ‘no deposit guaranteed car finance’. It’s a widely promoted claim, but you should know that guaranteed car finance is a myth and does not exist.

It is possible to get car finance with bad credit and no deposit, but you should be wary of any lender claiming that they can guarantee finance of any form.

There is no one size fits all when it comes to car finance. Everyone is different, and so is every car finance agreement. A responsible lender takes lots of different factors into account to make sure they offer finance that is affordable to their customers. That’s why no lender can say that car finance is guaranteed, whether that’s with a deposit or with no deposit.

Can I get guaranteed car finance with no deposit?

No, as a responsible lender, we don’t offer ‘no deposit guaranteed car finance’. It’s a widely promoted claim, but you should know that guaranteed car finance is a myth and does not exist.

It is possible to get car finance with bad credit and no deposit, but you should be wary of any lender claiming that they can guarantee finance of any form.

There is no one size fits all when it comes to car finance. Everyone is different, and so is every car finance agreement. A responsible lender takes lots of different factors into account to make sure they offer finance that is affordable to their customers. That’s why no lender can say that car finance is guaranteed, whether that’s with a deposit or with no deposit.

Our simple 5-step application process

Our simple 5-step application process

One

Get a quote using our online application form. This should take less than 5 minutes.

Two

We run an initial soft check to check your eligibility. This will not impact your credit score.

Three

If you’re approved, browse vehicles within your budget with our vehicle finder tool.

Four

A member of our team will help you with any paperwork and search for your new car.

Five

Once your agreement is signed, we’ll pay the dealer and you can collect your new car!

One

Get a quote using our online application form. This should take less than 5 minutes.

Two

We run an initial soft check to check your eligibility. This will not impact your credit score.

Three

If you’re approved, browse vehicles within your budget with our vehicle finder tool.

Four

A member of our team will help you with any paperwork and search for your new car.

Five

Once your agreement is signed, we’ll pay the dealer and you can collect your new car!

FAQs about 0 deposit car finance

The length of your finance agreement will depend on the car you choose and your individual circumstances. Our agreements last between 36 and 60 months, and the monthly repayments will be fixed throughout your agreement.

If you decide not to put down a deposit, your agreement might be longer which means you may have to pay more in interest, than if you put down a deposit.

Our team would be happy to discuss your circumstances, and find the right repayment period for you.

Getting car finance without a deposit follows the same process, in other words it doesn’t take any longer than normal. Our team will be happy to discuss your options to see if no deposit car finance is best for you.

When you’re ready, our online application form takes about 5 minutes to fill in, and will give you an immediate decision as to whether we can offer you car finance. Or, if you’re rather apply over the phone, you can leave your contact details and we’ll call you back at a time that suits you.

Getting approved for car finance on benefits with no deposit depends on lots of factors. These include affordability, income, and credit score.

We understand that just because you claim benefits, it doesn’t change the need to get a reliable car to get around. Just because you claim benefits, it doesn’t stop you from applying for car finance with no deposit.

When you apply with us, the following benefits are classed as primary sources of income:

  • Disability Living Allowance (DLA)
  • Carers Allowance (CA)

There are other benefits we accept, which are classed as additional income. For more information, please see our guide to car finance on benefits.

Some of our agreements may require a deposit. Our team would be happy to discuss your situation and tailor an agreement for you.

If you have bad credit, you might be looking for car finance with no guarantor. We don’t offer the option of having a guarantor, but we do specialise in helping people with bad credit.

We have over 30 years of experience helping people up and down the UK onto a better road ahead. We’ll only ever offer you finance based on your own income, affordability and circumstances.

Have you considered making an application for joint car finance? This is when you apply with someone else that lives with you, such as a partner or family member.

You would need to settle your existing finance agreement first. If you have positive equity, you could use this as a deposit for your next finance agreement.

For more information, check out our guide that explains how part exchanging a car on finance works.

Yes, you can settle a no deposit agreement early just like you would an agreement with a deposit. To do this, you would ask the lender for your ‘early settlement figure’ and pay this off.

For more information, check out our guide to settling car finance early.

FAQs about 0 deposit car finance

The length of your finance agreement will depend on the car you choose and your individual circumstances. Our agreements last between 36 and 60 months, and the monthly repayments will be fixed throughout your agreement.

If you decide not to put down a deposit, your agreement might be longer which means you may have to pay more in interest, than if you put down a deposit.

Our team would be happy to discuss your circumstances, and find the right repayment period for you.

Getting car finance without a deposit follows the same process, in other words it doesn’t take any longer than normal. Our team will be happy to discuss your options to see if no deposit car finance is best for you.

When you’re ready, our online application form takes about 5 minutes to fill in, and will give you an immediate decision as to whether we can offer you car finance. Or, if you’re rather apply over the phone, you can leave your contact details and we’ll call you back at a time that suits you.

Getting approved for car finance on benefits with no deposit depends on lots of factors. These include affordability, income, and credit score.

We understand that just because you claim benefits, it doesn’t change the need to get a reliable car to get around. Just because you claim benefits, it doesn’t stop you from applying for car finance with no deposit.

When you apply with us, the following benefits are classed as primary sources of income:

  • Disability Living Allowance (DLA)
  • Carers Allowance (CA)

There are other benefits we accept, which are classed as additional income. For more information, please see our guide to car finance on benefits.

Some of our agreements may require a deposit. Our team would be happy to discuss your situation and tailor an agreement for you.

If you have bad credit, you might be looking for car finance with no guarantor. We don’t offer the option of having a guarantor, but we do specialise in helping people with bad credit.

We have over 30 years of experience helping people up and down the UK onto a better road ahead. We’ll only ever offer you finance based on your own income, affordability and circumstances.

Have you considered making an application for joint car finance? This is when you apply with someone else that lives with you, such as a partner or family member.

You would need to settle your existing finance agreement first. If you have positive equity, you could use this as a deposit for your next finance agreement.

For more information, check out our guide that explains how part exchanging a car on finance works.

Yes, you can settle a no deposit agreement early just like you would an agreement with a deposit. To do this, you would ask the lender for your ‘early settlement figure’ and pay this off.

For more information, check out our guide to settling car finance early.

What is CS car finance?

We use a Conditional Sale agreement, but what does that mean and how does it work? We’ve written a guide that explains what you need to know.

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.