No Deposit Car Finance Offers

Your Vizion is our Mission

Get a completely free quote

No impact to your credit score

See the best rates available

Car Finance

Rates from 7.9% APR. Representative APR 11.9%

Representative example: borrowing £7,000 over 4 years with a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed) and a deposit of £0.00 the amount payable would be £183.99 per month, with a total cost of credit of £1,831.68 and a total amount payable of £8,831.68. This is an example only, lender fees may apply. All finance subject to status.


Vehicle Price:

£ 7000

Initial Payment (Deposit):

£ 0

To Pay Over:

48 Months

Assuming your credit rating is:

Best Available Rate:

6.9%


Initial Borrowing:

£7000


Total Cost Of Credit:

£1030.36


Total Amount Repayable:

£8030.36


Optional Final Payment:

£8030.36


48 Monthly Payments of

£167.30

Rates from 7.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.

Representative example: borrowing £7,000 over 4 years with a representative APR of 11.9%, an annual interest rate of 11.9% (Fixed) and a deposit of £0.00 the amount payable would be £183.99 per month, with a total cost of credit of £1,831.68 and a total amount payable of £8,831.68. This is an example only, lender fees may apply. All finance subject to status.

What is No Deposit Car Finance

With no-deposit car finance, some lenders may assess your credit score to determine your affordability and determine whether to provide you with no deposit car finance. These work in the same way as other options such as HP or PCP finance. Essentially, you will be able to make monthly repayments without the need to save up for a deposit.

You’ll typically need to have an excellent credit score, be between 21-75, be a UK resident, have sufficient monthly income.


Process of your finance application

Choose Your Car

Browse our Vehicle Stock or choose a car from a dealer of your choice.

Get A Quote

Submit your details and Get a finance quote from our trusted lenders.

Finalising

If you are happy, we will finalise the deal with the lender on your behalf.

Enjoy Your Car!

Collect your car from the dealer and enjoy it for the duration of your contract.

How does No Deposit Car Finance work?

Here’s a quick example:

Let’s say you want to buy a car worth £40,000 and to finance it over 48 months with a total of 10,000 miles per annum. Your lender offers you a no-deposit PCP finance deal, so you pay £0 deposit. Your lender estimates the guaranteed minimum final value (GMFV) of the car after 48 months to be £25,000. Your lender then gives you a loan of £40,000 to pay the dealer for the car and asks you to pay them back the difference between the loan and the GMFV which is £15,000 plus interest.

You sign a 48-month contract at 6.9% APR. So, your monthly payments will be £502.

With the interest, the total amount you end up paying back will be £24,100. At the end of the agreement, you choose to pay the £25,000 GMFV and own the car. Your total outlay including the deposit is £49,100.


Comparison of Finance Options


Finance Features: Hire Purchase (HP) Personal Contract Purchase (PCP) Personal Loan
Requires initial deposit Optional Optional
Car is yours at the end of the agreement
Optional
Fixed monthly payments
Optional balloon (final) payment
Avoid excess mileage charge
Secured against an asset (e.g. a car)
Support with vehicle issues

Pros & Cons of No Deposit Car Finance

You won’t need to save up money to put down a deposit.

You can buy a car sooner as there is no need for saving.

You can split the cost of buying a car into affordable monthly payments.

See our HP or PCP pages for specific advantages of these.

Your monthly payments will be higher compared to if you paid a deposit, or your loan period will need to be longer.

You typically require an excellent credit score to be offered such deals.

These offers are usually very rare and are reserved for particular cars.


Frequently Asked Questions

How will no-deposit finance affect my repayments?

Typically, your repayments will be higher than if you were to place a deposit. However, the difference is usually affordable for most approved for a 0 deposit deal.

Can I get a no deposit loan with a poor credit score?

Yes, it is possible, however the interest rates will be higher making the monthly payments less affordable, meaning you are less likely to get approved but not entirely unlikely.

Can I pay my no deposit finance off early?

Yes, but there may be additional fees incurred if you do so and it may affect your credit score, which can impact your ability to take out future loans. If you wish to end your deal early, speak to your lender who may be able to offer you a settlement figure.

Is car insurance included?

No, insurance is not included as part of HP or PCP finance deals. However, if you take out a personal loan, you can account for this in the amount you choose to borrow.

Let's get started?

Getting a Free Quote with Vizion Finance only takes 5 minutes, and will not affect your credit score

Get in touch

Phone:
0203 322 1905

Email:
sales@vizionfinance.co.uk

Business Hours:
Monday to Friday 09:00 - 20:30
Saturday 10:00 - 19:00
Sunday 10:00 - 17:00

Get a Free Quote