Autedia is a credit broker, not a lender. We partner with CarFinance 247 Limited, a credit broker (not a lender), to help find you the best car finance deal for your circumstances from their wide panel of lenders.

Rates from 8.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £143.76 per month, with a total cost of credit of £2125.46 and a total amount payable of £8625.46.

How car finance works through Autedia

Get a quote

Complete our short application form and find out if you’re eligible for a car loan in minutes.

Meet your account manager

Here to help every step of the way – look out for their call! You can chat over text or WhatsApp too.

Choose a car

Whether you’re looking for a hot hatch or a chic supermini, explore over 100k used cars in the car search or find your dream wheels from any reputable UK dealer.

Hit the road!

You set the pace; tell us exactly what you’re looking for and we’ll handle the rest. You could be driving away in days!

What is 0 Deposit Car Finance?

Typically when buying a car on finance, you’ll either want no deposit car finance or to make an upfront payment.

A deposit can be cash or, more likely, the value of a vehicle if you part exchange.

On the plus side, paying a deposit will increase your chances of getting approved for finance and reduce the overall amount of your loan and the monthly repayments.

However, no car to trade in or money available for an initial deposit is the bonus of 0-deposit car finance deals.

Why should you choose Autedia for your car finance?

Large panel of lenders

We’ll look to find you the best available deal from a wide panel of lenders.

No effect on credit score

Get a no-obligation quote that won’t affect your credit score unless you choose to proceed.

Total flexibility

HP, PCP, no deposit? We work with lenders that can offer it all – and we consider all circumstances.

Access to more than 100,000 cars

Get access to a car search with over 100k quality used cars stocked by trusted dealers all over the UK.

Dedicated account manager

Get support from a dedicated account manager who'll guide you through the process, take care of all the checks, and handle the paperwork.

Can I get a Zero Deposit Car Finance Deal?

Yep! No deposit car finance is a standard option among most lenders nowadays.

Imagine!

It’s time to swap your car in for something newer, or perhaps you’ve just passed your test and looking to get your first car. Anyhow, those savings you have tucked away can pay for the deposit.

But hang on!

Maybe you don’t want to splurge your hard-saved cash on a deposit for the car.

Good news! You probably won’t have to because most lenders now offer No deposit car finance, even to new and younger drivers.

However, there is a catch. For the privilege of not paying a deposit, you might need to pay a higher interest rate than you would if you put a deposit down.

Read on to find out everything you need about zero-deposit car finance!

Car Finance Calculator

5 years
Total cost of credit2,125.46
Total repayment8,625.46
60 monthly
payments of
£14376
Apply now
No impact on your credit score

Rates from 8.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £143.76 per month, with a total cost of credit of £2125.46 and a total amount payable of £8625.46.

Which No Deposit Car Finance Deals are available?

When choosing car finance with 0 deposit, you have several types of finance available.
PCP car deals

  • Usually for new cars and those up to five years of age.

HP Finance

  • Not normally associated with a new car purchase.

Another option is a Personal Loan (cash advance) for a car. No deposit is necessary here because you receive all the money upfront and own the vehicle outright as soon as you pay the dealer.

Pros and Cons of No Deposit Car Finance

As with everything in life, the No deposit car finance deal has pros and cons. However, we can’t think of many!

Pros

  • The positive of 0-deposit car finance is you buy a vehicle without stomping up a hefty deposit. If you have the deposit money in the bank, it can remain there, and if you don’t have the cash for an initial payment, it doesn’t matter.

Cons

  • However, swings and roundabouts, the negative of taking out a No deposit car finance deal, you’ll have more to pay back each month. And you’ll end up paying additional interest charges. Check out our car finance calculator to see how much you can afford.

We recommend deciding on a monthly car budget you will be happy with over the contract term. If you cannot reach this on a no-deposit car finance deal, you might consider saving for a deposit, which will lower your monthly repayments.

My monthly budget is

Get my quote
No impact on your credit score

Rates from 8.9% APR. Representative APR 19.9%

Am I Eligible for No Deposit Car Finance with Bad Credit?

Owning a bad credit profile can be frustrating, especially when you see that stylish-looking car sitting on the forecourt, winking its lights back at you.

You don’t have the cash to buy the vehicle outright. Most people don’t. However, even raising a deposit is a non-starter at the moment.

It is all very frustrating. You can afford the repayments. If only you did not have to pay a deposit. You need a No deposit car finance arrangement.

Many lenders, including online car finance brokers, specialise in providing bad credit car finance deals.

However, suppose you have financial difficulties, such as a CCJ or IVA. In that case, you could struggle to find a No deposit car finance deal.

Potential lenders will conduct an affordability check comparing your monthly Income v Outgoings. To satisfy themselves, they have the means to make monthly repayments on a No deposit car finance deal.

Work out your affordability before you apply. Consider that although you are not paying a deposit, that might initially make the deal more affordable. Your monthly payments are more for a zero-deposit agreement. Also, with No deposit deals, APR Interest rates are higher.

Representative Example of a No Deposit Car Finance Deal

Representative example of how a No deposit HP finance deal works

We have picked a popular new driver’s car from the Autotrader website. A Renault Clio 1.2 16V Dynamique MediaNav 5dr 2015 White with 66,000 miles on the clock.

Car priced at £6,000 May 2023

Deposit: £ ZERO

Option to purchase fee (to transfer ownership to you at the end of the term): £100

APR: 6.9%

48 Monthly HP payments: £143.40

Total Interest charged: £883.20

Total amount payable: £6983.20

Figures from the moneycalculator.com – 05/2023

It must be said. If you deposit, the lender will view you as a less risky proposition: you’re effectively borrowing less from them. You are more likely to get finance with a bad credit score when you put down a deposit.

Why Use Us for your Car Finance?

We can find you a quote with no impact on your credit score.

Whatever used car you’re searching for, be it a Citycar, Supermini, Hatchback, Mini-MPV or something else! We help you find the best No deposit car finance deal. We work with Carfinance247, whose large panel of Lenders cater for all types of credit profiles. You’ll get your manager to explain your options.

My monthly budget is

Get my quote
No impact on your credit score

Rates from 8.9% APR. Representative APR 19.9%

FAQs - No deposit car finance

How much can I borrow without a deposit?
It’s all on the lender. If you meet their credit and affordability checks, there is no maximum amount you can borrow with No deposit. £100,000 would probably be the most you could get.
Which cars can I get on a No deposit car finance deal?
You can get virtually any car (that you can afford) on 0-deposit car finance deals. If you’re looking to buy new, you might find that some manufacturers offer. Of course, the downside is that a new car is significantly more expensive than a reliable used car. So while you might not pay a deposit, you could spend much more over the contract term for driving a new car.
Can I get car finance with no deposit if I have bad credit?
No deposit finance deals are readably available. Still, it will ultimately depend on the lender’s criteria and your credit history. You might find getting a zero-deposit car finance deal challenging with a poor credit score. However, that doesn’t mean it’s not possible.
How long is a No deposit car finance deal?
Remember, you can get a no deposit on most car finance deals, such as Hire Purchases and Personal Contract Purchases. These deals tend to last between two and five years. Naturally, the longer the term, the longer you keep the car, and the less you pay monthly! On the flip side, the shorter the time you borrow, the less the cost of credit.
What do lenders check for with a car finance No deposit deal?
Finance Companies will first want to see your credit score from a CRA. If that is acceptable, they will consider their criteria to decide if you are eligible for a car finance No deposit deal. The lender will want to see your income and outgoings as an affordability check. Whilst a good credit score should get you a loan, the amount is decided by how much you can afford. Missed payments, CCJs or IVAs can make financing a car with No deposit challenging.
Can I keep the car once paying off the No deposit finance deal?
Yes, you can own the car at the end of the term. With Hire Purchase, you will have paid for the vehicle and own it outright. However, with a personal contract purchase. You’ll need to pay off a (very sizeable) balloon payment to own the vehicle. Usually, several thousand pounds and isn’t often a popular option. A hire purchase car deal is slightly different, as it’s essentially paying off the loan to own the car.
Can I get car finance with no deposit if I'm under 18?
If you’re under 18, you can’t get car finance at all! In the UK, you must be at least 18 to take out a finance agreement. When you are 18, you’ll be able to find some finance deals with 0 deposit, but you will find it more complicated than an older driver. You’ll likely have a poorer (or simply a non-existent) credit score.
How can I apply for No deposit car finance?
Applying for No deposit car finance is a relatively simple process. Firstly, you’ll need to find a lender or comparison site. From there, apply by entering your information and specifying your budget. In general, you’ll have to give some personal information – like earnings, total household income, debt, outgoings, and address information. Before you can be accepted, you’ll have to go through a credit check. While having good credit is ideal when you’re looking to buy a car, it’s not always possible. Thankfully, there are plenty of zero-deposit car finance options out there. Just be aware you will likely have higher interest rates, and your total payable amount will be more than a lower interest rate.
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