Can You Get Car Finance Without a Deposit?
Thinking about getting a car but don’t have cash saved for a deposit? You’re not alone—and the good news is, yes, you can get car finance without a deposit. It’s more common (and more accessible) than many people realise. At motorfinancetoday, we help UK drivers find flexible no-deposit car finance options that suit all kinds of budgets and credit backgrounds. Whether you have excellent credit or you're working to rebuild it, there may be options available to you. In this guide, we’ll break down how zero deposit car finance works, who it’s best suited for, the pros and cons, and how to apply.
Motor Finance Today
Author
August 13, 2025
🚗 What Is No-Deposit Car Finance?
No-deposit car finance allows you to finance a car without paying anything upfront. Typically, lenders ask for a down payment—usually around 10% of the car’s value—to reduce risk and lower monthly repayments. But with a no-deposit agreement, the entire cost of the car is spread over your monthly payments.
This type of finance can be used with popular finance products like:
Hire Purchase (HP)
Personal Contract Purchase (PCP)
Personal car loans
It’s ideal if you need a car now but don’t have savings available for a lump sum deposit.
🧾 Who Can Apply for No-Deposit Car Finance?
No-deposit finance is open to a wide range of applicants—including those with:
Excellent or good credit
Fair or limited credit history
Poor credit (in some cases)
However, lenders will still carry out an affordability assessment. They typically look at:
Your credit score
Your monthly income and employment status
Your existing financial obligations
Your ability to afford monthly payments
At motorfinancetoday, we work with a diverse panel of UK lenders, improving your chances of approval—even if you've been turned down elsewhere.
✅ Benefits of No-Deposit Car Finance
Why choose a no-deposit car loan? Here are some of the top advantages:
1. No Savings Required
You can drive away without needing to save a deposit—perfect if you need a car quickly or want to keep your savings for other expenses.
2. Flexible Repayment Options
Spread the entire cost of the car over a term that suits your budget, whether that’s 2, 3, or 5 years.
3. Access to Newer Models
Without the need for upfront cash, you may be able to afford a newer or more reliable vehicle than expected.
⚠️ Are There Any Drawbacks?
Like any finance option, zero deposit car loans come with things to consider:
1. Higher Monthly Repayments
Because you’re borrowing the full amount, your monthly payments will typically be higher compared to deals with a deposit.
2. Increased Total Interest
Spread the entire cost of the car over a term that suits your budget, whether that’s 2, 3, or 5 years.
3. Eligibility Can Be Stricter
Some lenders may have tighter requirements for no-deposit deals, especially if your credit score is lower.
💳 Can You Get No-Deposit Car Finance With Bad Credit?
Yes, you can—though it may be more limited.
At motorfinancetoday, we partner with specialist lenders that offer car finance for bad credit, including zero deposit options. You may face higher interest rates or tighter terms, but our team works with you to find the most affordable and realistic deal based on your credit profile.
📝 How to Apply for Zero Deposit Car Finance
Applying is easy and takes just a few minutes. Here’s what you’ll need:
Your basic personal information
Proof of income/employment
A full UK driving licence
How it works:
Fill out our quick online form – no lengthy paperwork.
We run a soft credit check (won’t affect your score).
We match you with the most suitable lenders for your profile.
Once approved, choose a car that fits your budget and needs.
Sign your agreement and drive away – with no deposit required!
🚘 Ready to Get Started?
At motorfinancetoday, we make it simple to find and apply for no-deposit car finance. Whether you’ve got a great credit score or you're working to rebuild it, we’re here to support you every step of the way.
👉 Apply online now for a fast, no-obligation quote—or speak to one of our finance experts today to learn more.
