Can I Get Finance with No Deposit?

Tim Carpenter
Written by Tim Carpenter

At CarFinance 247, in most cases, we do not require a deposit from you.

If you do have some funds available to use as a deposit, you can put this down and this will reduce your total loan amount, subsequently reducing your monthly repayments.

The benefit of having a deposit available is that you are reducing the amount that you are looking to borrow, which could potentially improve your chances of getting an approval for a loan to start off with. We can also accept part-exchanges.

As mentioned, however, a deposit isn’t mandatory and many of our customers do take advantage of our no deposit car finance options, as it means that they don’t have to find an initial sum to put down on the car – something that can often be difficult.

Working with a large panel of lenders, we can help those with excellent, good, fair and even bad credit histories with finance. Our lenders that specialise in bad credit car finance can help those with CCJs, defaults or IVAs, as well as those that have been refused elsewhere.

We don’t just offer car finance, despite our name, but can also help if you are looking to purchase a van, motorbike, horsebox, caravan or motorhome!

Get a quote
No impact on your credit score
Rates from 6.9% APR. Representative APR 24.9%

Liked by 18 People

5 years
Total cost of credit £ 2000
Total repayment £ 2000
48 monthly
payments of
£ 245 98

Rates from 6.9%: 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 24.9%, an annual interest rate of 24.9% (Fixed) and a deposit of £0.00, the amount payable would be £181.16 per month, with a total cost of credit of £4,369.52 and a total amount payable of £10,862.52.

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* The UK's number one online car finance broker by unique users to the website. Based on Hitwise data – 1,746,657 to CarFinance 247 vs. 666,020 for nearest competitor. January to December 2019.

96% of our customers recommend us: † Based on feedback left on independent review site Reviewcentre. May 2019.

CarFinance 247 is a trading name of CarFinance 247 Limited, a credit broker and insurance intermediary, and 247 Money Group Limited (247 Money), a lender. Both companies are part of the 247 group of companies.

CarFinance 247 is authorised and regulated by the Financial Conduct Authority under reference number: 653019. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 06035525. Data Protection Registration Number Z1897658.

247 Money is authorised and regulated by the Financial Conduct Authority. Registered office: Universal Square, Devonshire Street North, Manchester, M12 6JH. Registered in England. Company registration no. 10989530. Data Protection Registration Number ZA456831.

All finance is subject to status and income. Written quotations on request. CarFinance 247 can introduce you to a limited number of finance providers, including 247Money, based upon your credit rating and will receive commission for such introductions.

† We do not charge a fee for arranging the finance, however some of our lenders may charge a fee. Your account manager can provide more information on this

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