Car finance with no deposit

Sometimes you might need a new car without having savings available to buy it outright or put down a lump sum. While typical car finance agreements require the latter, no deposit car finance could help you find a new vehicle without paying a penny upfront.

Maybe your old car broke down unexpectedly and you've not had time to plan. Maybe you just need to save cash for other priorities. Whatever your situation, with specialist lenders like us, not having a deposit together doesn't have to stop you getting behind the wheel. 

Craig, Head of Underwriting at First Response Finance, explains: 

"With standard finance deals, you put down an initial chunk of your chosen car's value as a deposit - a bit like a mortgage. But by skipping this step, you'll just pay the value of the car (plus any interest) on a weekly or monthly basis over an agreed term. 

"The rest of it works the same: apply for finance, find the car you're interested in (if you haven't already), and make your repayments. With our Hire Purchase agreements, you'll own the car outright once you've made your final payment.

"It's worth knowing that by putting a deposit down, lenders are more likely to accept you, and you'll pay less interest overall because you'll be borrowing less than the car's sale price."

Having no deposit and poor credit can limit your borrowing options, as some lenders might see you as a higher risk of being unable to pay them back. But that doesn't necessarily mean you've run out of road. Bad credit car finance with no deposit could be available - you just need to check your eligibility with the lender.

To help you budget, our handy calculator will give you a quick estimate of your borrowing costs based on how much you need, your credit history, and preferred borrowing term. Getting an estimate is free, and there's no obligation to go ahead if you're not ready.

Remember that if you're looking specifically for car finance in the UK with no deposit, you'll need to borrow more than if you were paying off a chunk upfront. If you can afford to put down even a small deposit, this could reduce your total loan amount and, in turn, your repayments.

Life comes at you fast sometimes. If you need a new car but you've not had a chance to save a deposit, we won't automatically write you off like some lenders. We try to look at the bigger picture to let you get on the road while spreading the cost of a new car in a way that works for you.

Here's why you're on to a good thing with us: 

• Get new or used car finance with no deposit, depending on your credit limit and your chosen car's value
• We've won Feefo's Platinum Trusted Service Award five times in the last six years
• We've been named Best Car Finance Provider at the Consumer Credit Awards for five years running
• Over 300,000 drivers have already used us to get a vehicle

We’re authorised and regulated by the Financial Conduct Authority (FCA).

We're committed to treating customers fairly and giving clear, honest information so you can trust us to put your best interests first every step of the way!

We use Experian, one of the UK's top credit reference agencies, to run our credit checks. This helps us to understand your credit history, which is one of several factors we take into consideration when making a decision on your approval for vehicle finance.

We're SAF Approved by the Finance & Leasing Association (FLA), which means that all of our customer-facing employees have passed the Specialist Automotive Finance (SAF) Expert test. This ensures our team members have all the relevant knowledge to advise you on available finance products and help find the right one for you!