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No deposit car finance is when the total cost of the car is financed, meaning you don’t have to put any up front deposit towards the vehicle. You'll only have to find your monthly payments, to be paid in instalments.
This type of finance is typically only available on used cars, and will depend on the lender as to whether they can offer it. If no deposit isn’t an option, many lenders will offer finance with low levels of deposit.
Tell us how you'd like to finance your car, the size of your deposit and the price of the car and we'll calculate your costs in seconds.
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Choose PCP and you'll pay an initial deposit and monthly payments to cover the remaining value of the car, plus interest. At the end of the term, you can buy the car or walk away.
At the end of your PCP, you will have the option to keep the car if you pay lump sum. We've estimated this to be taking your total cost to .
Find car finance loanChoose HP and you'll make monthly payments and usually pay a deposit. At the end of the contract term, you'll own the car.
You can approach no deposit car finance similarly to other car finance.
Check what finance offers are available to you in your circumstances.
If you haven’t found a vehicle yet, find one that fits within the lender’s criteria.
Confirm with the lender that no deposit finance is available and then proceed with the deal.
We’ve partnered with Zuto to bring you a range of car finance deals from across the UK market
Comparing car finance with us is simple and speedy. Just answer a few questions and you can start comparing
We have a variety of car finance options available, from Hire Purchase, Personal Contract Purchase to a personal loan
Just tells us a bit about your finances and then we can show you car finance deals you’re likely to be approved for
No upfront cost for the vehicle
Offered by several lenders in the market
You may still be able to use your existing vehicle as a part exchange
With no deposit you’ll need to borrow more for the vehicle
Borrowing more would lead to higher monthly payments & a higher interest rate
There may be some lender restrictions on no deposit deals, such as your credit profile or the vehicle
Choose a finance deal that fits within your monthly budget. Remember, a more expensive car means higher repayments and more interest over time.
Check your credit file for any errors and take steps to improve your score if needed. A better credit rating can help you secure lower interest rates.
Use our partner Zuto to compare a range of finance deals. You’ll also see your likelihood of approval before applying.
Look beyond the monthly payments and consider the total amount borrowed, the interest rate, and any fees for early repayment to ensure the deal works for you.
No deposit car finance can be a good idea depending on your personal circumstances. If you don’t have any savings for a deposit, it’s a quick a sensible way to help finance your next car.
However, if you are able to put down a deposit that will likely reduce your monthly repayments & overall cost of finance. Having a deposit may make getting finance more likely, as it may improve your affordability position and more lenders may be comfortable with the risk of the deal.
To qualify for car finance, you’ll generally need to meet the following criteria:
The minimum age varies by lender, but you’ll typically need to be at least 18. Some finance providers also set an upper age limit, often only lending to those under 79.
Lenders will ask for evidence of a regular income, but this doesn’t mean you need to be in full-time employment. Payslips and bank statements are commonly accepted, and you can still qualify if you're self-employed, a sole trader, a pensioner, or receiving long-term disability benefits.
As with any type of borrowing, finance companies will need to verify your identity and address. A passport or driver’s licence is usually required, along with a utility bill or similar document as proof of residence.
Lenders will assess your credit history and current financial commitments to determine whether you’re a responsible borrower. While requirements vary, a positive credit record will improve your chances of approval.
🚩 Let your lender know. If you’re struggling to make a payment, contact your finance provider as soon as possible. They may be able to offer solutions like a temporary payment plan
Late fees and charges. Missing a payment could lead to penalty fees and a formal warning from your lender
Risk of default. Continued missed payments may result in a default notice, which can have serious consequences
Possible repossession. If you have HP or PCP and haven’t paid a significant portion of your loan, the lender may recover the vehicle. With a personal loan, the car isn’t at risk, but legal action could follow
Damage to credit score. Late or missed payments will be recorded on your credit file, making future borrowing more difficult
🚩 At the end of a no deposit car finance deal, what happens next depends on whether it's a Hire Purchase (HP) or Personal Contract Purchase (PCP) agreement.
For HP, once you’ve made all the agreed payments, the car is yours to keep. There are no further costs, and ownership is transferred to you.
With PCP, you’ll have the option to either pay the remaining value of the car (a balloon payment) to own it, return the car with no further obligations, or trade it in for a new vehicle and start a new deal.
Find the right car finance option for you and see which rates you’ll be guaranteed to get
Decide which car finance option is right for you, from PCP or HP to taking out a personal car loan
Just tell us a little about you, your finances and what you’re looking for
You’ll be able to sort car finance options by overall cost and the likelihood you’ll be accepted
What are the alternatives to car finance?
If you’re looking for options other than Hire Purchase (HP) and Personal Contract Purchase (PCP), consider these alternatives:
With PCH, you make an initial deposit followed by fixed monthly payments to lease the car. At the end of the term, you simply return the vehicle, with no option to purchase it
A personal loan lets you borrow the full price of the car. You own the car immediately and repay the loan over a set period
If you’d rather avoid finance, you can save the full amount to purchase the car outright, without any interest or monthly payments.
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You may still be able to get a finance deal with no deposit even if you have bad credit. The lender will still need to be comfortable you can afford to repay the loan and that the vehicle fits within its lending criteria.
If you take out a hire purchase agreement, you won’t have any mileage restrictions. Whilst if you take out a PCP agreement, there will be mileage restrictions. You will be able to set these with your lender and if you go over these there will be an excess mileage charge.
Yes it is. In fact, it is much more likely you’ll be able to get no deposit car finance for a used car, rather than a new car.
This will depend on the type of agreement you take out. HP or PCP.
If you miss a payment getting in touch with your lender is usually the best next step. You can then discuss your personal circumstances and what options there are with the lender.
You work hard to earn your money, and we don’t think you should waste a penny of it paying over the odds on your household bills. That’s why at MoneySuperMarket, we’re on a mission to save Britain money.
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So how do we make our money? In a nutshell, when you use us to buy something, we get a reward from the company you’re buying from.
You might be wondering if we work with all the companies in the market, or if our commercial relationships with our partners might make us feature one company above another. We’ve got nothing to hide, and we want to give you clear answers when it comes to questions like these, so we’ve pulled together everything you need to know on this page.
