Need a car but do not have money for a deposit? You are not alone. Research suggests that 1 in 6 UK adults have no savings at all.
No deposit car finance means you may be able to apply without paying a deposit upfront. You will still go through checks. A decision will depend on your situation, including affordability and eligibility, even if you have a poor credit history.
As a bad credit car finance provider, we look at each application on its own. We explain things in plain English, so you can understand your options before you decide.
We are a direct lender. This means you apply with us, not through a broker. We help people who may need a subprime finance option. Some customers come to us after being turned down elsewhere.
Our Hire Purchase car finance may be available with no deposit. If you keep up with repayments, it could help your credit record over time. If you are unsure where you stand, read what a bad credit score means.
Step 1: Calculate your monthly repayments
Step 2: Apply and track your application online, in real time (No login or app needed)
Representative example – Total amount of credit £10,500, annual interest rate 18.25% (fixed), charge for credit £9,886.25 (£9,581.25 interest, £295 admin fee and £10 option to purchase fee), total amount payable £20,386.25. Loan term of 60 monthly instalments, 59 payments of £339.60 and 1 final instalment of £349.60. 34.5% Representative APR – Subject to status and affordability.
Not always. Some finance deals let you apply with no deposit.
A deposit is the money you put in upfront. It reduces the amount you need to finance. This often makes the monthly cost lower.
In some cases, a deposit may be needed if the finance offered is less than the price of the car.
If saving is hard, a no deposit option could be worth a look. Just make sure the repayments fit your budget.
It can be possible. No deposit finance may suit people who cannot save easily.
Some lenders have strict rules. Our approach could be different because we look at more than a credit score.
No deposit finance can cost more each month. This is because you may be financing more of the car’s price.
At Go Car Credit, we offer no deposit car finance on used cars across the UK through a network of trusted car dealers.
Yes, you may still be considered. This can apply if you have been declined before, missed payments, or have a poor credit history.
If you keep up with repayments, it could help your credit record over time. This is not instant, and it does not happen for everyone.
Hire Purchase spreads the cost into monthly payments. If you are accepted, we will explain the figures in plain English.
If you are behind on other credit, it may help to bring it up to date before you apply.
A deposit can help, even if it is small. It reduces the amount you borrow. This can also reduce the monthly cost.
You may also be able to use a part exchange instead of cash. If you have a car to replace, the value could go towards your next one.
Often, yes. With no deposit, you may borrow more, so the monthly cost can be higher.
Lenders often look at your credit history and any deposit when working out the deal. Your credit score to finance a car may be one of several checks.
It also helps to budget for running costs. These include fuel, insurance, tax and servicing.
When you apply for our used car finance with bad credit and no deposit, a person reviews your application. You can read about our decision process too.
For a quick estimate, use our bad credit car finance calculator.
Our car finance is offered through Hire Purchase. You pay monthly instalments over an agreed term.
Your payments cover the car’s cost plus interest. We agree the key figures with you upfront.
After you make all agreed payments, you may be able to own the car. This can include a final option to purchase payment, if your agreement has one.
We check affordability using your income and outgoings. If you miss payments and cannot catch up, the car could be repossessed. Only go ahead if the payments feel manageable.
Some people may search for guaranteed car finance or no guarantor and bad credit. Please note: approval is not guaranteed.
These things can affect your application:
For more help, see our resources.
Saving a deposit may not be easy for everyone. No deposit finance could be one way to get a car sooner. Here is why people choose us:
We work with dealerships across the UK, including Portsmouth, Leeds, Manchester, Newcastle and Glasgow. Before you apply, you can read how our car finance works.
You can apply online. A person will review your details.
At Go Car Credit, we start with a soft search. This gives a basic view of your credit history and can help us estimate how much you could borrow. It does not affect your credit score. If you choose to move forward, a full credit check may happen later.
Fill out our secure online application form. There is no obligation to go ahead if you change your mind. If you meet our criteria, we will guide you through the next steps and help you choose a suitable car.
Once the agreement is in place and paperwork is signed, you can arrange collection from the dealership.
