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Pre-application Support

Do I have to pay a deposit or make an upfront payment?

The good news is sometimes you don't have to pay a deposit to secure car finance with Zuto. However, the bigger the deposit you can put down on a car, the lower amount you'll need to borrow which will reduce your monthly repayments. 

Although we work with numerous lenders who offer no deposit car finance offers, the dealership themselves may ask you to put down a holding payment to secure the vehicle.

Before you pay the dealer anything, we recommend:

  • Calling Zuto to give us the car details – this way we can check the lender is happy to fully approve your choice. Some of our lenders will have certain requirements for the car they’re prepared to fund, so we can’t confirm your car loan until we’ve checked with your lender. At this time, we can also check complete a valuation and vehicle history check. This will make sure the car is being offered at a good price and has not been previously written off or stolen, or even has outstanding finance against it.
  • Ask what happens to the holding fee if you change your mind – is it refundable? If not, make sure you talk to us first!
  • If you want to pay for the car on finance in its entirety through Zuto, find out from the dealer if and how this payment may be refunded to you once the sale has gone through and how long it will take. Try and avoid a cheque payment so you’re not having to wait too long for the refund.
  • Unless you are paying this fee as part deposit for the vehicle in the long run, always try and negotiate a lower holding fee.

Written by

Mike Barlow

Content Manager

Mike has worked at Zuto since 2018 and uses his experience within the industry to help customers understand the ins and outs of car finance.

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