No deposit
car finance

CarFinance is your direct route to car finance without a down payment. We know how crucial having your own car is, and we make it possible. Need a used car? Our no deposit car finance options put you in the driver’s seat.

What is no deposit car finance?

No deposit car finance allows you to own a car without putting down a deposit. This makes it accessible to more buyers. We streamline the process, letting you drive your car sooner.

At CarFinance, we partner with lenders who specialise in car finance without deposits. You don’t need cash upfront or a car for part exchange – get the car you want on credit. While securing car finance without a deposit can be challenging, it is possible if your income and credit score meet the necessary requirements.

We cater to those without savings or a vehicle to trade. Start your journey to no deposit car finance with a free eligibility check on our website. Provide a few details to see your options.

Can I get car finance without a deposit?

Yes, lenders offer car finance without a deposit. This makes the upfront cost affordable but may increase your monthly payments, so consider this carefully. Even with bad credit, you can secure a car loan. Enjoy peace of mind and drive your dream car with our no deposit finance solutions. We ensure a stress-free journey to car ownership, guiding you every step of the way.

Lenders favour borrowers with better credit scores for no deposit deals. Opting for a PCP finance deal increases your chances of approval over Hire Purchase.

Car finance options with no deposit

We offer a range of car finance options without the need for a deposit. From HP (Hire Purchase) to PCP (Personal Contract Purchase), you can choose the plan that suits your budget and lifestyle. Our goal is to provide you with the best options for your dream car.

HP car finance

Hire Purchase (HP) car finance allows you to spread the cost of your car over a fixed loan period, with affordable monthly payments. At the end of the agreement, you become the owner of the car, giving you complete freedom and ownership.

PCP car finance

Personal Contract Purchase (PCP) car finance offers lower monthly repayments and the flexibility to decide at the end of the term whether to purchase the car or return it. This makes PCP a versatile and appealing option.

Pros and cons of no deposit car finance

No deposit car finance offers several benefits: no upfront payment, affordable monthly payments, and the chance to own your dream car. Worried about credit? Our specialist lenders can help you secure the car you want.

How much can I borrow without a deposit?

CarFinance offers generous borrowing limits without a deposit. You can borrow up to £40,000 to get the car you desire. We ensure financial constraints don't hinder your dream of owning the perfect vehicle.

What are the requirements for getting car finance with no down payment?

The requirements for no deposit car finance may vary slightly depending on the lender and your specific circumstances, but here are some common criteria:

1. Age: Applicants are usually required to be between the ages of 18 and 75.
2. Residency: Being a UK resident for a minimum of 12 months is often a requirement.
3. Income: Having a consistent monthly income of at least £1,000 is generally expected to ensure that you can meet the monthly repayment obligations.
4. Affordability: Lenders will evaluate whether the monthly payments fit within your budget. This assessment considers your income, expenses, and existing financial commitments.
5. Identity and Address Verification: You'll need to provide proof of identity and address, such as a valid driving license or utility bill.

Apply for bad credit car finance with no deposit

If you're looking to secure car finance with bad credit and no deposit, we've got you covered. CarFinance, a trusted online car finance broker, has partnerships with lenders who offer appealing terms regardless of your credit history.

We know maintaining a healthy credit score is crucial, so we always perform a soft search to ensure your credit remains intact. This allows you to explore bad credit car finance without worrying about your credit rating.

Even with a less-than-perfect credit history, our flexible panel of lenders can help you secure no deposit car finance. They specialise in creating finance packages tailored to your needs.

Curious about your eligibility for a no deposit deal? You can check it today at no cost, and your credit rating will remain unaffected, no matter the outcome.