Rates from 8.9%: the exact rate you will be offered will be based on your circumstances, subject to status.
Representative example: borrowing £7,500 over 5 years with a representative APR of 20.25%, an annual interest rate of 20.25% (Fixed) and a deposit of £0.00, the amount payable would be £192.84 per month, with a total cost of credit of £4070.40 and a total amount payable of £11,570.40.
We will always provide the best rate from our panel of lenders and based on your individual circumstances. We do not charge any fees for our service. But we earn a commission from the lenders we work with. This does not affect the interest rate you will be offered.
What is no deposit car finance?
In most cases when taking out car finance, you are required to pay a deposit of 10% minimum when buying on Personal Contract Purchase (PCP) or Hire Purchase (HP). This helps to get approval from a lender and can also help reduce the amount you have to pay on monthly repayments.
Zero deposit car finance is another flexible and affordable way to drive the car you want. With our no deposit car finance options you do not need to pay an upfront cost when taking out your plan for a new or used car. Instead, choosing a 0 deposit car finance option allows you to spread that cost over the course of your plan in more affordable monthly payments.
How can I get car finance without a deposit?
The process is just as simple and straightforward as getting any other type of finance with us. Here are three different ways to do it:
Part-exchangeSince your existing car will still hold some value, our dealerships may be willing to offer to exchange it to cover the cost of a deposit. This will take the stress off your shoulders of selling your old car to fund your brand new one. The amount from exchanging your old car could possibly cover the initial costs of your finance, therefore eliminating the need to pay for all of your deposit upfront. There may be some outstanding costs of your deposit left over, however, this will be more manageable.
Spread it across repaymentsAnother affordable option to take out a car finance deal without a deposit is to have it spread across the repayments over the 3 or 4 years of the loan term. Naturally, if you prefer smaller monthly payments, you would have to pay a deposit.
Good credit and affordabilityIf you have a good credit score, this will boost your finance provider’s confidence in your ability to make your monthly repayments on time. Having a good credit profile could pave the way for plenty of flexible and affordable financial options, including 0 deposit car finance.
What information do I need to apply for 0 deposit car finance?
By applying online on our website, it is possible to get an instant decision on your zero deposit car finance application in just 5 minutes!
You will need to have some basic information at hand such as the value of the vehicle you’d like to purchase and your monthly budget. You will also need your driver’s license and some final bits to help us understand what is the best way to help you.
If your application is approved, which can happen on the same day, funds are transferred to you or the car dealer as soon as 24 to 48 hours.
Why choose no deposit Quick Car Finance?
We are a registered broker in the UK and authorised by the FCA, and we are passionate about offering transparency and the lowest no deposit finance deals possible to our customers. We work with all the main car finance partners in the UK and have an approved list of dealers to make sure that you are offered the best rates, with no hidden or inflated fees.
We also believe that having a poor credit rating shouldn’t be the end of the road; our partners are willing to offer 0 deposit car finance for bad credit too, taking lots of other factors into consideration.Apply Now
NO DEPOSIT CAR FINANCE FAQS
How does no deposit car finance work?
A no deposit car finance plan works in the same way as any other car finance. This kind of car finance scheme works by spreading the cost of a deposit over the cost of a period of time that suits you. Conditions can vary depending on the lender.
What cars are available with no deposit car finance?
No deposit finance deals are available for both new and used cars. Some lenders may have certain conditions in place that only allow you to loan money for a car that’s over a certain age or mileage.
Is zero deposit car finance a good deal?
If you’re looking for a new car but find putting down the initial deposit, then zero deposit car financing could be a good option for you to explore. Zero deposit car finance offers you a more flexible and affordable way to drive away with any car of your choice that suits your needs.
What are the advantages and disadvantages of no deposit car finance?
The main advantages of zero deposit car finance is that it gives you the chance to avoid paying an upfront fee at the start of the contract. This means that you could be able to afford a better and newer car than if you had to pay a deposit up front.
The disadvantages of no deposit car finance is that due to there being no upfront deposit being put down, the monthly payments made to the lender are normally higher and the payment plans are longer. A lengthier payment plan could mean that you are spending more on interest payments over the course of the contract.