No Deposit Car Finance

We are always looking to find the best ‘bad credit’ rates from our comprehensive panel of lenders. This means you will be offered the best deal available for your circumstances. There is no fee attached to this service but in the spirit of honesty, we do earn a commission from the lender. This has no bearing on the interest rate you are offered.

Get my quote

No impact on your credit score

Rates from 7.9% APR. Representative APR 19.8%

My monthly budget is


Is car finance an option with no deposit?

Car finance with zero deposit is actually more common than you think. With a whole host of lenders offering loan agreements with little or no money upfront.

Our team can help you not only find the right car, but also the right lender based on your current financial situation.

Your options with zero deposit

Even with a no deposit loan, you can choose between HP, PCP or a personal loan.

A personal loan will not usually require a deposit. Once you’ve been accepted for the loan and are happy with the monthly payments, you can pay the seller for the car. At this stage, the car is yours to do with as you wish.

For more options, a PCP car finance deal could be the way to go. You will agree to a fixed monthly amount, paid until the end of the loan agreement. At this stage you have the option to buy the car with a balloon payment, trade it in for a newer one or simply give the car back.

PCP does however come with mileage restrictions so even though the monthly payments are typically lower, it is not the correct option for everyone.

If owning the car outright is the goal, then an HP loan may be the option for you. This type of agreement will typically come with higher monthly payments but at the end of the agreed term you will own the car following completion of the ‘Option to Purchase’ fee. The option to purchase fee is typically ONLY £10.

How do I know if I’d be accepted for no deposit car finance?

Our team works tirelessly with every customer to ensure they get the best car finance deal available. We must say at this point however that no deposit car finance is usually only offered to people with a strong credit rating.

We recommend getting a quote today so that our team can look at your circumstances and get the ball rolling for you.

Why use CarFinanced for no deposit car finance?

CarFinanced was built to help people drive the car they really want regardless of their circumstances. Our mission is to give you the options so that you can make the best decision based on your personal needs.

Even with zero deposit, we can help find you the best car finance deal. So whether it’s the new family car with the big boot, or a 2 seater sports car for a weekend blast, we are here to help.

Pro’s and Con’s of no deposit finance

Most cars in the UK are sold on some form of credit scheme. It helps break down the cost of getting you on the road in the car you really want. No deposit car finance could be a good option, but may not be right for you so we’ve broken down the pro’s and con’s for you below:


  • Take ownership of a new car without any savings
  • You don’t have to wait until you have enough to pay a deposit
  • It’s available on the 3 most common types of car finance


  • Some lenders will not consider you without a deposit
  • Your monthly payments could be considerably higher
  • Your loan term may be longer, adding to the total amount you pay for the car

Ready to get started?😎

Applying with us only takes a couple of minutes and won’t affect your credit score

Apply now

Frequently Asked Questions

At CarFinanced, we allow everyone to check whether they are eligible to be approved for finance within a few minutes. Share some small details with us and our lenders will use that information to carry out a soft credit search to give you an answer with the best deals right away.

If you have a poor credit history, you can still apply for car finance. The company will look at your personal circumstances such as; Your employment status, age, income, loan amount, alongside your credit history. You will then receive your exact interest rates and payments.
Yes! You can part-exchange your car as a deposit.

Annual percentage rate (APR) is the interest rate applied to your loan. Predominantly, it is the yearly cost of your borrowing. You will pay this on top of the sum that you have applied for. If you take out a long-term loan, the total amount payable will be more, as you will be paying interest for a longer amount of time.

Yes, if the provisional is less than 3 years old.
Our average transaction takes less than 24 hours to complete from beginning until the end.
Unfortunately, you are legally required to be 18 years or over in order to take out car finance.
If you choose HP, you will own the car at the end of your finance term, whereas if you opt for PCP, you can either choose to hand the car back or pay a balloon payment determined by the final purchase price of the car.
If you would like someone else to be able to drive your car, you may be able to add them as a named driver on your car insurance policy.
With your permission, we can pass your details on to insurance companies who can provide this for you.
Depending on the age of the car and the lender, between 12-72 months.
To be eligible for a quote, you need to be at least 18 years old, have a drivers license and earn at least £1000 per month.
We work with trusted partners only 🙌