You don’t always need a deposit to get a car on finance. We work with lenders who’ll get you on the road, without needing to pay upfront.
Zuto is a credit broker, not a lender. Our rates start from 9.9% APR. The rate you are offered will depend on your individual circumstances. Representative Example: Borrowing £7,000 over 48 months with a representative APR of 19.3%, the amount payable would be £205 a month, with a total cost of credit of £2,831 and a total amount payable of £9,831.
People sometimes pay a deposit when they get car finance – in some instances, it can help with getting an approval from a lender and helps reduce monthly repayments.
But we know it’s not always possible to save for that upfront cost.
Getting no-deposit car finance is as simple and straightforward as getting any other type of car finance.
Zuto works with a panel of lenders who can offer no-deposit car finance.
When you apply online or talk to our team, we’ll be able to discuss your options with you. From there, you can choose the right deal for you.
Together, we’ll find a finance agreement and vehicle that’s right for you.
In theory, there’s no set limit to how much you can borrow without a deposit.
Each application is considered on its own merits, which means we’ll run a tailored search, based on the amount you want to borrow and your credit history, to find lenders from our panel that can offer you the best rates.
A car loan with no-deposit provides the financing you need to buy a used car.
You can choose between Personal Contract Purchase (PCP), Hire Purchase (HP) or a personal loan. Find out more about the different car finance options in our guide.
The money you would have paid as a deposit is absorbed into your monthly payments. However, there are some important things to think about.
Advantages
Disadvantages
No deposit car finance deals are a popular choice for car buyers, and this flexibility is based on a few simple requirements.
No-deposit car finance is really simple. Just apply online or get in touch with our team to get the ball rolling.
How long do I get to pay off zero deposit finance deal?
The length of your finance agreement depends on whatever’s right for you and your lender. A longer plan can mean smaller monthly payments, but you might spend more in the long run with the interest.
Which cars are available with no deposit?
Whether you’re looking for a family SUV or a city run-around, we should be able to help find the right car for you. Some of our lenders have minimum requirements on a car such as age and mileage. We can help clarify these when we speak to you about your finance options.
Can I get a no deposit deal if I am under 18?
No, as no-deposit car finance agreements are loans, you must be 18 or over.
Can I pay off the deal early?
Usually, yes. This depends on the agreement you have with your lender. You can contact us for any support.
Can I keep the car once the finance is paid off?
Yes, but it depends on the type of finance. With PCP, you’ll have the option to make a balloon payment at the end of the deal, while with HP the car will be yours once you’ve paid the Option to Purchase fee (Zuto’s lenders usually charge £1 to £10, although some lenders may be higher). With a personal loan, the car is yours from the beginning.
Does a no-deposit deal take longer to process?
No, a no-deposit finance agreement will take the same time to process as any other.
Will I be accepted if I have a bad credit rating?
We may still be able to help you find a no deposit deal, even if you have a bad credit rating, so please get in touch. You can also find out more about getting car finance with bad credit in our guide.
