Car Loans > Q&A > No Deposit Car Finance

No Deposit Car Finance

If I pay a deposit with you for a car and I change my mind. Do I get my deposit back?

Posted by Sarah on 19/03/2011 @ 10:43

Hi Sarah, if you apply for car finance with us and get approved we do take a small deposit once we have secured you a car of your choice. This is to make sure that we don't sell the vehicle you want to another customer. However, you only need to leave in the region of £100 to £150 to secure the car. Would this be a problem for you? If so, we could take a minimum of at least £50 so that we know you'll be dealing with us and we do have finance companies that could lend up to 100% of the retail value of the car which is good news for you. If you change your mind at the last minute we wouldn't give the £50 or £100 back as we'd have put a lot of work into the process of getting you approved and sourcing a car of your choice. Are you in the buying cycle now? If so, please make an application and we'll see if we can help you.

Posted by Edwin Miles on 09/09/2011 @ 11:17

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Hi Edwin, do you offer car finance with no deposit. From the answer above i can't quite make it out. I'm really short of cash but need a new car. I might struggle with finding a deposit. Can you clarify please?

Posted by Emily Hasen on 22/09/2011 @ 09:09

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Hi Emily, we do offer no deposit car finance as long as you commit to us before coming to collect your new car from us. When i say commit i'm talking about signing the finance documentation and providing us with copies of your driving licence, proof of address & proof of income etc. It also depends upon whether we can get the advance from the finance company as to whether you'd need to put a deposit into the deal or not. Finally we'd need a signed order form from you which shows your serious about buying a new car without a deposit. I hope this helps. Kind Regards, Edwin

Posted by Edwin Miles on 22/09/2011 @ 09:13

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I would like to buy a diesel car but i have no deposit and live in aldershot at the moment. Please let me know if anyone can help me to borrow £2500 to £3000. Many thanks

Posted by Danny on 26/09/2011 @ 08:08

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Hello, I have very poor credit and no deposit. I am looking to get a second car to use as a taxi, I already use the vehicle I have which is brought and paid for struggling to fimd finance for second car obviously it makes a difference as I need it as a working car!

Posted by Phill Pritchard on 03/10/2011 @ 10:15

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Hi Danny, as long as we can get you approved for car finance we'll be able to get you into a diesel car for around £3000 (as that's our minimum lend) with no deposit from yourself. How is your credit profile? Kind Regards, Edwin

Posted by Edwin Miles on 03/10/2011 @ 10:29

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Hi Phill, getting car finance with no deposit is not an issue with us but it all depends upon whether we can get you accepted with one of our lenders for a car loan? When you say your credit is bad can you elaborate on that a little for me? Kind Regards, Edwin

Posted by Edwin Miles on 03/10/2011 @ 10:32

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My old car just failed it's mot and it is going to cost to much to have it repaired. The garage has bought it off me so I can't part exchange. I need a car for work but and was wondering about the cars you offer. I would only like to borrow around £2000 but the cars you have on your website start at around £4000, I have no deposit. Would you still be able to help?

Posted by Daniel on 12/10/2011 @ 21:36

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Hi Daniel, yes e can help you even though you have no deposit however, our minimum lend is £3000. If you only want to spend £2000 on a car we've found out in the past that the cars for that price just end up causing more problems and costing customers more money in repairs etc. Our finance lenders won't lend money on cars over 6 years old either. Please make an application and we'll get you into a car in no time providing we can get you approved. Kind Regards, Edwin

Posted by Edwin Miles on 12/10/2011 @ 21:40

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Hello, i need £6500 on finance for a car. Do i need a deposit as i dont have much of one?

Posted by Graham on 16/03/2012 @ 11:16

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Hi Graham, all we need is a refundable £100 deposit to secure the car of your choice so in effect you do not need a deposit as we can finance the full amount of the car for you as long as you get approved. Thanks, Edwin

Posted by Edwin Miles on 16/03/2012 @ 11:18

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Hi Edwin, I would like to get car finance for a nearly new car however, I do not have a guarantor nor a deposit. How do I go about this in my current position?

Posted by Jackie Acquah on 05/04/2012 @ 08:48

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Hi Jackie, how is your current credit profile? Have you got good, fair or poor credit? If you have a good credit profile then you shouldn't need to worry to much about finding a deposit or a guarantor. How old are you and how much do you want to finance? Do you have a part exchange as we can use that as a deposit? Kind Regards, Edwin

Posted by Edwin Miles on 05/04/2012 @ 09:06

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If I pay the £100 to secure the car but then don't get approved for finance do I get my £100 back?

Posted by Leeroy on 10/04/2012 @ 11:02

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Hi Leeroy, we won't ask for the £100 deposit to secure the car until we already have you approved so there's nothing to worry about on that front. However, if for any reason the deal fell through at the last minute and it was our fault then the £100 would be returned to you. Regards, Edwin

Posted by Edwin Miles on 10/04/2012 @ 11:08

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I've been told by Lookers Vauxhall that I need to pay £100 deposit to secure the car. I asked them had the finance been approved and they said not yet.

Posted by Leeroy on 10/04/2012 @ 11:14

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Hi Leeroy, my advice would be to get the finance solved first and then pay the deposit. If you get refused for any reason please come and apply with us. Regards, Edwin

Posted by Edwin Miles on 10/04/2012 @ 11:25

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Hello Edwin, my credit history is very bad so I don't think anyone can help or can they? Incidentally why do you or the company need to know how old I am?

Posted by Jackie Acquah on 10/04/2012 @ 11:52

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Hi Jackie, we don't need to know how old you are at this stage, we'd need your DOB on the application though. It's just that if you're under 21 we'd really struggle to help. If you're over 21 then that's good as lenders don't like lending young people money when they have bad credit. There's no way i can give you a guaranteed answer on whether we can help until we see your credit file. One thing that would help is to know whether you have applied at any other online car loan providers? If so, who were they and did you get declined? Edwin

Posted by Edwin Miles on 10/04/2012 @ 12:58

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This comment is awaiting moderation.

Posted by Lawson on 30/04/2012 @ 21:42