No Deposit Car Finance
No savings for a deposit? No problem. Find out how to get behind the wheel without paying upfront, so you can find finance that works for your budget. See what you could borrow
Our rates start from 11.9% APR, the rate you are offered will be based upon your individual circumstances.
Borrowing £8,700 over 5 years with a representative APR of 24.3% an annual interest rate of 21.9% (fixed) and a deposit of £0.00, the amount payable would be £239.88 per month, with a total cost of credit of £5,692.80 and a total amount payable of £14,392.80.
Luv Cars is a broker, not a lender.
Lender fees may apply, this is an example only.
Can I Get Car Finance With No Deposit?
No deposit? No problem! Many of the lenders we work with at Luv Cars offer finance options that don’t require any upfront payment.
Whether you’ve just spotted your dream car or your old one has finally given up, you might not need to dip into your savings to get back on the road. Some dealers may ask for a small reservation fee, but in many cases, you can choose your car and drive away without paying anything upfront.
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Your No-Deposit Finance Options
There are several types of car finance that may be available with no deposit, depending on your circumstances and the lender’s criteria.
Personal Loan
With a personal loan, you normally won’t need to pay a deposit at all.
Once the loan is paid to the seller, the car is immediately yours — you just continue making your monthly repayments.
Personal Contract Purchase (PCP)
Most PCP deals require a deposit, but the monthly repayments are usually lower than HP and you get more flexibility at the end.
At the end of your agreement, you can:
Return the car
Pay the balloon payment to keep it
Use any equity as a deposit for your next deal
Mileage limits and condition rules apply, so you may face charges if you exceed them.
Hire Purchase (HP)
Some lenders may offer HP with no deposit. Monthly payments will usually be higher than PCP because you’re paying off the full cost of the car. But once you complete all payments — plus the small Option to Purchase fee — the car is yours to keep.
Pros and Cons of No-Deposit Car Finance
| Pros | Cons |
| Drive away with £0 upfront — no savings needed | Higher payments since you’re borrowing more |
| Get your car sooner without waiting to build a deposit | Longer loan terms may be needed to make payments affordable |
| Keep your money free for other expenses or plans | More interest overall, meaning a higher total cost |
Am I Eligible for No-Deposit Finance?
We’ll always aim to find you the best deal from our panel of lenders. However, no-deposit car finance depends on your personal circumstances and lender requirements, so it’s not guaranteed for everyone.
If you’re unsure which option suits you best, your dedicated Luv Cars account manager will be on hand to guide you through the process.
Here’s how to get your finance
In 3 simple steps
1. Get approved
Get your personalised car finance quote and approval in principle in minutes using our smart search tool.
2. Choose your car
Once approved, find your car by using LuvCar finder. Showing you 1000’s of options from our approved dealers.
3. Drive away & luv it
We’ll sort everything out. You just turn up and drive away.
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Frequently asked questions
Can I really get car finance with no deposit?
Yes — it’s completely possible. Many lenders on our panel offer no-deposit finance, meaning you can get behind the wheel without paying anything upfront. This can be a great option if you haven’t had time to save, your old car stopped working unexpectedly, or you’d prefer to keep your money set aside for other priorities. While availability depends on your personal circumstances and the lender’s criteria, it’s more common than many people think.
Does no deposit mean higher monthly payments?
Generally, yes. If you're not paying anything upfront, you’re borrowing a larger amount from the lender, which means your monthly payments are likely to be higher. Some customers also choose a longer loan term to make payments more manageable, but this can increase the total amount of interest paid overall. It’s all about finding a balance that suits your monthly budget, and your account manager can help you explore the numbers so you feel confident.
Will the lender still check my credit?
Yes — even with no-deposit options, lenders still need to run credit and affordability checks to make sure the finance is suitable for you. The good news is your initial quote with Luv Cars only triggers a soft search, so it won’t affect your credit score. Only if you decide to go ahead with an offer will a lender run a hard search. These checks are in place to protect you as well as the lender.
Can I part-exchange instead of paying a deposit?
Absolutely. If you’ve got a car to trade in, you can use its value as your deposit instead of paying cash. A part-exchange can help reduce your monthly payments or borrowing amount, and it saves you the hassle of selling your old car privately. We’ll help you work out how much your current car could contribute so you know exactly where you stand.
Do I need to pay any upfront fees?
Most of the time, no. A no-deposit finance deal means you won’t need to put money down at the start of your agreement. Occasionally, the car dealership may charge a small reservation fee to hold the vehicle, but this isn’t always required and is completely separate from your finance agreement. If a fee is needed, we’ll let you know upfront so there are no surprises.
Is no-deposit finance available on all cars?
Not every car will qualify, as it depends on the lender’s criteria, your affordability, and the car you’ve chosen. Some vehicles — particularly older cars, very high-mileage models, or certain makes — may have restrictions. But many customers do secure finance with no deposit, and our panel includes lenders who specialise in these agreements. We’ll explore every option to find the best match for you.