Dreaming of a new car but worried about the hefty deposit? No need to fret. No deposit car finance is a viable option that opens doors for many. In this guide, we’ll shed light on how you can secure car finance without the need for an upfront deposit. Read on to discover the possibilities.
No deposit car finance allows you to obtain a car loan without making an initial payment. Instead, the total cost of the car is financed, including any additional fees.
Lenders offering no deposit options often have different criteria for assessing risk. They may consider factors such as your credit history, income stability, and affordability.
Eligibility varies between lenders, but typically, individuals with a good credit score and stable income are more likely to qualify. Some lenders may also offer options for those with less-than-perfect credit.
No deposit car finance provides an accessible route to car ownership for many. By understanding the process and considering the potential implications, you can confidently embark on your journey towards a new vehicle. As seasoned car brokers, we’re here to offer tailored advice and guide you through the process. Feel free to get in touch for personalised assistance. Here’s to the road ahead!
The above rates and monthly payments are an example only. The actual rate you will be offered by lenders could be lower or higher depending on your circumstances
Representative example: borrowing £6,500 over 5 years with a representative APR of 19.9%, an annual interest rate of 19.9% (Fixed) and a deposit of £0.00, the amount payable would be £166.07 per month, with a total cost of credit of £3,464.37 and a total amount payable of £9,964.37.
*After completing the application, lenders will perform a "soft search" that will not affect your credit score. Should you get an offer of finance and wish to proceed, the lender will then perform a "hard search" of your credit file. Finance acceptance is not guaranteed, please click the following link for more information: Initial Disclosure Document
Amazing experience from start to finish, the people there don’t push you into anything. The checks are really good, they not only check out the car but who you are buying it from. Thanks to Matthew and Leon for all their support in helping me choose the right car for me.
They were extremely helpful and did everything they could to get me finance even with a bad credit rating. Couldn’t recommend these guys enough. Leon talked me through it every step of the way, the company are lucky to have you😊
Very helpful team Leon walked me through the whole process and didn’t push. He also gave brilliant advise and set up warranty package that gave me peace of mind.
I've just picked up my new car, absolutely love it, Alan was amazing I told him everything I was looking for in a car and within minutes he found my dream car, Alan kept in contact with me through the whole experience, checking I was still happy with everything, I would highly recommend Happy motors finance and have already done so with friends. THANK YOU SO MUCH! 😊
Cannot praise this company highly enough. Dealt with Alan, who pulled out all the stops and exceeded my expectations. Everything went so smoothly. Alan also made sure I was given all the details needed and communication was excellent. Keep up the good work guys.
