Car finance with no deposit

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. Fortunately, with Zuto, getting no-deposit car finance is as simple and straightforward as getting any other type of car finance.

1. Apply for a quote: Fill in your details and we’ll search our panel of lenders. We’ll then get in touch to discuss your £0 deposit car finance options.
2. Pick your car: Choose from over 40,000 cars from a Zuto-approved dealership, or you can find your own car. We’ll run a free vehicle and history check on any car you choose.
3. Start driving: If the agreement works for you, the lender will run some final checks; make sure you’re happy to proceed. We’ll arrange to pay the dealer and then you just need to pick up the car.

Zuto works with a panel of lenders who can offer no- or low-deposit car finance. Whether you apply online or talk to our team, we’ll be able to discuss your options with you; together, we’ll find suitable car finance deals, no deposit required. We also work with lenders who specialise in bad credit car finance. 

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 zero-deposit car finance.

A no-deposit car loan provides the flexibility you need to buy a new or used vehicle. Car finance options available include PCP, Hire Purchase (a type of finance where payments are based on the car's value), or a personal loan.

Advantages

• For cheap car finance deals, no deposit could be an attractive solution, with no need to make a payment upfront.
• You could get your new car quicker, as you wouldn’t need to save for a deposit.
• You could use an existing vehicle in part exchange as a deposit.

Disadvantages

• If you don’t pay a deposit, your monthly payments will be higher or the loan period may have to be longer.
• The total amount you pay will be higher than if you had paid a deposit, as you’ll be charged more interest.
• It may be more difficult to secure a no-deposit finance agreement without a good credit score.

No deposit car finance deals are a popular choice for car buyers, with flexibility based on a few simple requirements:

• Affordability: You need to be able to afford the monthly payments. By providing details of your income, lenders will be able to view your credit history. This will provide reassurances that you won’t have problems with the repayments. Use our car finance calculator for an idea of what you might be able to borrow.
• Age: You need to be over 18 and be able to provide some basic personal details, such as your name, age, and address.
• Extra information: The lender may sometimes ask for more information, but we will let you know if anything additional is required.

No-deposit car finance is really simple. Just apply online or get in touch with our team, to get the ball rolling.