No Deposit
Car Finance
Keep your savings and still drive away. We search a panel of lenders for options that may be available with no deposit, and the initial eligibility check is a soft search.
No deposit options considered.
Check eligibility with no impact on your score.
Soft search · No impact on your credit score
Can I get car finance with no deposit?
Yes, no deposit car finance is often possible. As a broker we work with a panel of lenders who may be able to finance the full cost of the car, so you can drive away without putting money down upfront, subject to status.
Lenders weigh your current income, what you can afford today, and your overall circumstances to decide if a no deposit agreement suits you. We check what may be available with a soft eligibility search, which leaves no mark on your credit file at that stage. See the finance glossary
Soft search first
The initial eligibility check leaves no mark on your credit file at that stage, so you can see what may be available before taking anything further.
Keep your savings
A no deposit agreement spreads the full cost of the car across the term, so your savings stay in your account for emergencies or everyday living, not tied up in a lump sum.
FCA regulated broker
CarFinanced Ltd is authorised and regulated by the Financial Conduct Authority under firm reference number 1014460. All finance is subject to status.
How no deposit car finance works
A no deposit agreement spreads the full on-the-road price of the car across your term in equal monthly payments. Nothing is paid upfront, so your savings stay in your account.
Full amount financed
The lender covers the whole on-the-road price of the car. You do not put a lump sum down at the start of the agreement.
Fixed monthly payments
Payments stay the same every month across the agreed term, so your car cost is easy to plan around alongside your other bills.
Soft eligibility check
The initial match uses a soft search, which leaves no mark on your credit file. You see what may be available before anything moves to a full application.
Term that suits you
Choose a term, typically between 24 and 60 months, that fits what you can comfortably afford. A longer term lowers the monthly, a shorter term pays less interest overall.
HP or PCP
No deposit options may be available on Hire Purchase or Personal Contract Purchase. The right one depends on whether you want to own the car outright at the end.
What affects your no deposit approval?
Without a deposit the lender is financing the whole car price, so the monthly is higher than it would be with money down. The three things that decide the answer are what you can afford today, how steady your income is, and whether the amount and term you have chosen fit your circumstances.
A soft eligibility check with us returns the no deposit options our panel of specialist lenders can consider, assessed on the whole picture rather than one number. The soft search leaves no mark on your credit file at that stage.
What a lender looks for
What might it cost?
Move the controls to a borrowing amount, a term and a credit rating that feel close to yours. The figure on the right updates as you change it. It is a picture, not a quote.
Your figures
Example Hire Purchase APRs: Bad 19.9% · Average 14.9% · Good 9.9% · Excellent 7.9%. Actual rates depend on eligibility and lender assessment.
Worth doing, with your eyes open.
No deposit car finance keeps your savings in your account and gets you on the road without a lump sum up front. It also means a higher monthly and more interest paid overall. Both of those are true. Here is each side laid out so you can weigh them before you apply.
What you gain
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Keep your savings in your account. No lump sum goes down upfront, so your rainy-day fund stays available for emergencies, bills and everyday living.
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Drive away sooner. You do not have to wait months to save a deposit before you can get the car you need for work, family or the school run.
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Fixed monthly payment for the whole term. You know the figure on day one and it does not change, which makes a household budget easier to run.
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Soft eligibility check first. See what you are likely to be offered before you apply, with no mark on your credit file at that stage.
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A car you own at the end on HP. The final payment transfers ownership to you. On PCP you keep the choice to hand back, part-exchange or buy.
What to weigh
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Higher monthly than a deposit deal. The full car price is spread across the term, so each payment is bigger than it would be with money down.
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More interest paid overall. You pay interest on the whole amount for the whole term. The calculator above shows both numbers side by side.
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The car is security for the loan. Missed payments can lead to the car being repossessed, and arrears are recorded on your file.
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APR may be a touch higher. Some lenders price in extra risk when there is no deposit, because you have less of your own money in the agreement at the start.
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Negative equity risk is bigger. The amount you still owe may stay above the car’s resale value for longer into the term, which matters if you settle early or part-exchange.
All finance is subject to status, affordability and the lender’s assessment. Missing payments can lead to additional charges and loss of the vehicle.
Give your application a better shot.
Six things that genuinely help a no deposit application, inside your control. Tick the ones you have done (or will do) and the readiness panel on the right updates. Nothing here is a credit decision, it is a picture of how ready an application is likely to feel.
A general readiness guide, not a credit decision. All finance is subject to status, affordability and the lender’s assessment.
How CarFinanced arranges no deposit car finance.
Check your eligibility
You give us a few details about yourself and the finance you are looking for. This initial eligibility check is a soft search, so it leaves no mark on your credit file at that stage.
We search our lender panel
We look for the best rate from our panel of lenders able to finance the full car price with no deposit, and offer you the best deal you are eligible for. We do not give advice or a recommendation, so the decision stays with you.
Complete your agreement
All finance is subject to status and income, and applicants must be 18 or over. Depending on the supply route of your vehicle, a separate administration fee of £299 may apply.
Soft search · No impact on your credit score
No deposit, or save a deposit first?
Two routes to the same car, with real differences in the monthly figure, the total you pay, and how soon you drive away. Here is each one laid out clearly, with a side-by-side table underneath.
Side-by-side detail
Six questions people ask when choosing whether to put money down.
Why drivers use CarFinanced for no deposit car finance.
FCA regulated
CarFinanced Ltd is authorised and regulated by the Financial Conduct Authority under firm reference number 1014460. Our authorisation can be checked on the public FCA register.
A broker, not a lender
We do not lend. We search our panel of lenders and offer you the best deal you are eligible for. The lender pays us a commission, a fixed fee or a fixed percentage of the amount borrowed, which does not influence your rate.
A soft eligibility check
The initial eligibility check is a soft search, so it leaves no impact on your credit score at that stage. You can see what may be available to you before taking anything further.
All credit scores considered
Applications are considered across all credit scores. Every application is subject to status and income and applicants must be 18 or over, so applying is never a guarantee of finance.
What makes up a no deposit car finance payment?
Five things decide what you pay each month. Knowing how they interact makes it easier to work out what fits your budget before you apply.
Vehicle price
The agreed on-the-road price of the car. With no deposit, the whole figure is the amount you finance.
Deposit (set to zero)
No money down means the full car price is spread across the term. The monthly is higher than a deposit deal, but your savings stay in your account.
Interest, shown as APR
Some lenders price in a touch of extra risk when there is no deposit, since you have less of your own money in the deal at the start. Your own rate is set by the lender.
Agreement term
The number of months you repay over. A longer term lowers the monthly payment but raises the total you pay. The calculator above shows both.
Your credit profile
How your file reads: income, outgoings, any markers and on-time payments in the last 12 months. It shapes which lender fits and at what rate.
Making car finance simple for 10,000+ customers
“I’ve bought many cars using finance companies in the past but none have been as good as CarFinanced. Special thanks for overseeing the process and ensuring I got the best deal on my new car.”
“Quick, simple process. My account manager was great throughout. Very helpful, professional and quick with responses to any questions I had.”
“CarFinanced explained the finance agreement in detail, which gave us confidence to move forward with the car.”
“Thank you CarFinanced. I applied and picked up my car within a few hours. Outstanding service from all the team.”
“Excellent service from start to finish. Everything was explained clearly and my questions were answered efficiently.”
“Excellent service. The team arranged the finance quickly and remained very responsive throughout the process.”
“My account manager was absolutely first class. Patient, knowledgeable and nothing was too much trouble.”
“Fantastic service. Very professional and polite, making the whole experience straightforward from beginning to end.”
01 Can I get car finance with no deposit?
Yes, in most cases. A deposit is not required on the majority of agreements our panel of lenders can offer. The whole on-the-road price of the car is financed and you repay it in equal monthly payments across the term. All finance is subject to status and the lender’s affordability assessment.
02 How does no deposit car finance work?
The lender advances the full car price and you repay it, plus interest, over an agreed term, usually between 24 and 60 months. The monthly figure stays the same for the whole term. At the end, you own the car outright on Hire Purchase, or you keep three choices on PCP.
How no deposit works →03 Is the monthly payment higher with no deposit?
Yes. Because the full car price is spread across the term, each monthly payment is bigger than the same agreement with money down. You also pay more interest overall, because interest sits on the whole balance. The calculator above shows both figures side by side.
Try the calculator →04 Can I get no deposit car finance with bad credit?
Often yes. CarFinanced’s panel includes specialist lenders who consider adverse credit alongside a no deposit application. CCJs, defaults, IVAs and thin credit files are all considered on a case by case basis. Subject to status and the lender’s assessment of your full picture.
Bad credit car finance →05 Will checking my eligibility hurt my credit score?
No. The CarFinanced eligibility check is a soft search, visible only to you and the searching lender, so it leaves no mark on your credit file. A hard search only happens if you accept an offer and formally apply to a lender, which you decide to do. Nothing is marked while you decide.
06 Can I use a part-exchange instead of a deposit?
Yes, when your current car has equity. The lender values it, settles any outstanding finance on it, and the balance comes off the new agreement like a cash deposit. If the car is in negative equity, the shortfall can usually be added to the new agreement. Subject to status and valuation.
07 What’s the minimum income for no deposit car finance?
There is no single figure. Each lender weighs your monthly income against your rent or mortgage, bills, other credit commitments and the monthly payment you have asked for. Without a deposit, lenders look harder at income reliability than they do on a deposit deal. Subject to status.
08 Is “guaranteed” no deposit car finance real?
No. UK consumer credit rules require every lender to assess affordability on each application, so no broker or lender can guarantee acceptance in advance, with or without a deposit. Anyone promising that is misleading you. What CarFinanced can offer is a soft check that shows likely options. Subject to status.
Guaranteed car finance explainer →09 Can I pay a deposit later or make overpayments?
Most lenders allow overpayments or partial early settlement at any time, which reduces the balance and the interest you pay. Terms vary by lender and are set in your agreement. Request a settlement figure first so you know the exact amount that will come off. Subject to the lender’s terms.
10 Can I settle a no deposit car finance agreement early?
Yes. Under the Consumer Credit Act 1974 you can request an early settlement figure at any time, and the lender must provide it within 28 days. Voluntary termination rights may also apply once you have paid at least half the total amount payable. Terms are set in your agreement.
Early settlement guide →Ready to see your no deposit car finance options?
Start with a soft eligibility check and see what may be available based on your circumstances.
