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What percentage deposit must I put down for a car loan?

I'm looking for a car loan and am wondering what percentage deposit i must place down. Please help!

Asked by stuart

Hi Stuart, it all depends upon the lender you get accepted with. Most lenders we deal with don’t require a deposit to be placed into the deal which is obviously good news. However, placing as much deposit in as possible will reduce your monthly finance repayments and the interest you’ll pay back.

Please make an application and once approved you can choose a car from any reputable dealer and we also provide a no obligation quote. Kind Regards, Rachel

Tim Carpenter
Answered by Tim Carpenter Car Finance Expert Edited on

Liked by 19 People

£
5 Years
Total cost of credit £ XXX.XX
Total repayment £ XX,XX.XX
48 monthly
payments of
£ 245 98

Rates from 6.9% APR: the exact rate you will be offered will be based on your circumstances

Representative example: borrowing £6,500 over 5 years with a representative APR of 27.4%, an annual interest rate of 27.4% (Fixed) and a deposit of £0.00, the amount payable would be £188.74 per month, with a total cost of credit of £4,824.37 and a total amount payable of £11,324.37

Rates may differ as they are dependent on individual circumstances. Subject to status.


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