Bad Credit Car Finance With No Deposit

bad credit car finance with no deposit

Rates from 29.7% APR
40.9% Representative APR -
Subject to status and affordability

Are you hoping to get a new car on finance, but struggling to find the spare cash for a deposit? You’re not alone – research finds that 9% of Brits have no savings at all. Thanks to no deposit car finance from Go Car Credit, however, there’s no need to put the brakes on if you need a car as soon as possible or are happy to spread the cost. You could even get approved with bad credit!

As bad credit car finance specialists, we help people get the financial support they need to get a new car in a way that works for them.

Our Hire Purchase car finance deals with no deposit could also help to rebuild your credit score. Read on to learn how our used car finance with no deposit works, whether you could get approved and how to apply.

What if I can put a deposit down?

Putting down a deposit no matter how large or small, on your next car is always going to be a smart move when it comes to car finance. It means your monthly payments will be lower, and your affordability will also look better, which will help your chances of having your car finance application accepted.

Alternatively, it’s not just cash that you can use as a deposit. If you already have a vehicle that you’re planning to update or upgrade, why not think about trading it in to lower the cost of your new car? Speak to our team today to find out more.

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Representative example – Total amount of credit £9,000, annual interest rate 21.75% (fixed), charge for credit £10,092.32 (£9,787.32 interest, £295 admin fee and £10 option to purchase fee), total amount payable £19,092.32. Loan term of 60 monthly instalments, 59 payments of £318.04 and 1 final instalment of £328.04. 40.9% Representative APR – Subject to status and affordability

Is it possible to get no deposit car finance?

It is!

We get that the cost of your monthly repayments isn’t always the problem when it comes to significant purchases such as a new car. Saving enough money for a deposit can be difficult while balancing all your other priorities – and could force you to delay or even cancel your application altogether.

Putting down a deposit usually improves your chances of being approved for car finance or getting a better deal, but it’s not a necessity by any means. Car deals with no deposit do exist. We don’t have the same criteria as some mainstream direct lenders. While your monthly payments will be higher, you could get into the driver’s seat faster without having to wait for months or years to save for a deposit.

Here at Go Car Credit, we offer no deposit car loans on quality used vehicles from our network of trusted dealerships throughout the UK. You could drive away with the new car you need, without having to put a hefty amount of money down first.


Can I get car finance with no deposit and bad credit?

Has a poor credit history held you back from getting other types of finance in the past? Does the fear of rejection put you off applying in the future? Even if you’ve been declined before or have missed payments, you could still get bad credit car finance with no deposit.

Keeping up with the repayments could help to build your credit score and improve your chances of getting approved for other forms of credit too!

Hire Purchase is perfect if you have a poor credit rating or don’t want to pay a large amount of money upfront, as it lets you spread the cost in affordable chunks. Once approved for our car finance, our friendly and professional team will work out a repayment plan that works for you and your budget – and gets you back behind the wheel in no time.

Are you falling behind on repayments on any existing credit agreements? It’s always a good idea to do everything you can to get them back up to date quickly and help your chances of being accepted.

Will my repayments be higher for bad credit car finance without a deposit?

Most car finance agreements are worked out based on factors such as your credit score and the size of your deposit. That’s why it could be advantageous to have a higher credit score to finance a car without a deposit.

Your repayments with no deposit car finance are likely to be higher, as you won’t be covering any of the price of the car upfront. That means you’ll need to weigh up this extra cost against the possibility of having to wait longer to save a deposit.

Your choice of vehicle is also important if money is tight, or you have bad credit. Don’t forget about things like fuel, insurance, tax and servicing too – each of these affect its affordability.

Here at Go Car Credit, we want to make car finance feel personal, fair and easy to understand. When you apply for our used car finance with bad credit and no deposit, you’ll get a decision from an understanding and experienced professional – not just a machine.

In the meantime, you can use our bad credit car finance calculator to work out roughly what your repayments could be, depending on how much you need and for how long.


How does bad credit car finance with no deposit work?

At Go Car Credit, all our car finance deals are offered through Hire Purchase. This means you’ll pay to hire your new car in manageable monthly instalments until you’ve paid enough to own it outright.

Your repayments cover the total price of the car plus the interest. We’ll agree all these costs with you upfront, so you don’t need to worry about any nasty extras along the way.

We’ll do our best to make sure your repayment plan is affordable once all your regular outgoings are taken into account. If you do run into problems and can’t keep up your repayments, however, we could repossess the car.

What can affect my eligibility for car finance deals with no deposit?

Looking for guaranteed car finance with no deposit, no guarantor and bad credit? While we set out to make car finance a possibility for people who struggled to get a traditional loan or other credit in the past, we do still have criteria to make sure we lend responsibly. The following factors could impact your application:

  • Late payments: If you’ve fallen behind on other credit agreements, try to get back on track as quickly as possible.
  • IVAs: If you have an ongoing IVA (individual voluntary agreement), we’ll need written permission from your insolvency practitioner before we can lend to you.
  • Bankruptcy: If you are currently bankrupt, we can’t approve your application.
  • CCJs: We’ll still review your application if you have an outstanding CCJ (county court judgement) against you.
  • Unemployed: We do offer car finance to unemployed people, but you must receive DLA or PIP if this applies to you.

We want to give you the best possible chance of getting a new set of wheels. Why not check our guides, for regular tips on managing your finances, debt and credit rating?


Why choose Go Car Credit?

When living costs mount up, it can feel like getting a new car is out of reach. Our no deposit UK car finance could give you the green light – and there are plenty of reasons why we could be the perfect provider for you.

  • Accessible: We’ll look at your application individually and will never reject someone just because of a poor credit history or challenging personal circumstances.
  • Responsible: We’re regulated by the Financial Conduct Authority (FCA) and will work with you to create an affordable and tailored repayment plan.
  • Recommended: Our customers rate us as ‘Excellent’ on the independent review site Trustpilot.
  • Friendly: We’ll communicate with you clearly throughout your application and beyond.

You could drive away with a new car from any of our trusted dealerships throughout the UK including Portsmouth, Leeds, Manchester, Newcastle or Glasgow. It’s normal to have extra questions when it comes to such a serious investment, so feel free to call our friendly team on 01925 696 373 and learn more about how it all works

How do I apply for zero deposit car finance?

Making an appointment with your bank for a car loan can feel daunting, especially if you can’t put down a deposit or have bad credit. You might then wait weeks for an answer. With Go Car Credit, the application process is simple and transparent, and we look forward to saying yes!.

Get started by filling out our secure online application form with a few personal details. There’s no charge for doing so, and you’re not obliged to go ahead if you change your mind. One of our experienced professionals will then review your application. If you meet our criteria, they’ll help you choose your ideal vehicle.

Once you’ve signed the paperwork on your no deposit car finance agreement, it’s time to enjoy your new car.

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