Skip to content
NO DEPOSIT OPTIONS AVAILABLE

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

Finance any car
FCA regulated
No deposit needed
Excellent ★ Trustpilot
★ ★ ★ ★ ★
Family driving away with no deposit car finance from CarFinanced
No deposit considered Bad credit welcome All UK applicants 18+
Finance any car Explore suitable finance options
FCA regulated FRN 1014460
No deposit needed Options may be available subject to status
Excellent ★ Trustpilot
★ ★ ★ ★ ★
View CarFinanced reviews on Trustpilot
No deposit explained

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.

No impact on your credit score

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.

Nothing to put down upfront
How it works

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.

100% of the car price

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.

Same amount, same date

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.

No impact on your score

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.

24 to 60 months

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.

Two agreement types considered

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

✓ Comfortable room in your monthly budget
✓ Reliable income over recent months
✓ Realistic amount for the term you choose
A rough monthly figure

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

Finance type
£10,000
£1,000 – £50,000
Over how many months?
What’s your credit rating like?

Example Hire Purchase APRs: Bad 19.9% · Average 14.9% · Good 9.9% · Excellent 7.9%. Actual rates depend on eligibility and lender assessment.

The honest trade-off

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.

The upside

What you gain

  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
The trade-off

What to weigh

  • 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.
  • More interest paid overall. You pay interest on the whole amount for the whole term. The calculator above shows both numbers side by side.
  • The car is security for the loan. Missed payments can lead to the car being repossessed, and arrears are recorded on your file.
  • 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.
  • 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.

Improve your chances

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.

What CarFinanced does

How CarFinanced arranges no deposit car finance.

Customer checking no deposit car finance eligibility on a laptop
Step one

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.

Credit broker comparing no deposit car finance options from a panel of lenders
Step two

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.

Customer signing a no deposit car finance agreement with a broker
Step three

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.

Check Your Eligibility

Soft search · No impact on your credit score

Pick your fit

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.

Option 1

No deposit

The lender finances the whole car price and you repay it over the term in equal monthly payments. Your savings stay in your account and you drive away without waiting to put money aside first.

Best if you need the car now Savings stay intact
Read what counts as no deposit
Option 2

With a deposit

A deposit, usually around 10% of the car price, lowers how much you borrow. The monthly payment comes down and you pay less interest overall. You wait a little longer to drive away while you save.

Best if you can wait to save Monthly comes down
Read the deposit guide

Side-by-side detail

Six questions people ask when choosing whether to put money down.

Aspect No deposit With a deposit
Money needed upfront £0 Usually 10% of the car price or more
Monthly payment Higher, the full amount is spread across the term Lower, because you borrow less
Total interest paid More, interest sits on the whole balance Less, a smaller balance earns less interest
Time to drive away Apply today, subject to status Weeks or months saving the deposit first
Lender panel Narrower, specialists who accept no deposit Wider, most lenders consider a deposit deal
Negative equity risk Bigger early in the term Smaller, the deposit covers some depreciation
Check eligibility for both
Soft search · No impact on your credit score
Why CarFinanced

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.

Cost breakdown

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.

Sets the starting point

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.

£0 upfront

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.

Subject to status

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.

Changes the monthly and the total

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.

The whole picture, not only the score
Customer stories

Making car finance simple for 10,000+ customers

★★★★★
Excellent Trustpilot ↗
★★★★★
“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.”
Mike Davis Happy customer
★★★★★
“Quick, simple process. My account manager was great throughout. Very helpful, professional and quick with responses to any questions I had.”
Kirsty Baillie Happy customer
★★★★★
“CarFinanced explained the finance agreement in detail, which gave us confidence to move forward with the car.”
Samuel Morrison Happy customer
★★★★★
“Thank you CarFinanced. I applied and picked up my car within a few hours. Outstanding service from all the team.”
Mohammed Jamal Happy customer
★★★★★
“Excellent service from start to finish. Everything was explained clearly and my questions were answered efficiently.”
Lisa Smith Happy customer
★★★★★
“Excellent service. The team arranged the finance quickly and remained very responsive throughout the process.”
Basra Nori Happy customer
★★★★★
“My account manager was absolutely first class. Patient, knowledgeable and nothing was too much trouble.”
Martyn Pearce Happy customer
★★★★★
“Fantastic service. Very professional and polite, making the whole experience straightforward from beginning to end.”
Richard Dixon Happy customer
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.

Soft search with no impact on your credit score at this stage. Finance is subject to status and affordability. Applicants must be 18 or over. CarFinanced is a credit broker, not a lender. FCA FRN 1014460.