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. 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 car finance.
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.
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.
