A 0 deposit car finance deal means you pay nothing up front, so if you want car finance without hurting your savings account, here are the best offers we've found.
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The increasing cost of living means that it’s harder for many to get the money together to buy a new car outright, or to put down a deposit to sign a finance agreement. However, help is at hand if you find yourself in this situation - zero deposit car finance.
A 0 deposit car finance deal means you pay no deposit, simple as that. As with all car finance, there are trade offs. Here you’re getting the convenience of not having to save for months or dig into existing savings to put up a large initial sum, but are effectively passing the costs on to yourself further down the line through increased monthly payments.
With a PCP or car lease you usually pay a deposit or initial rental, and the higher this is, the lower your monthly payments become.
However, if you do go for the zero deposit option, you’re effectively using finance to cover the whole cost of the car, rather than paying some of the cost up front with your deposit. This means larger monthly payments, often over a longer time period, and the likelihood of attracting larger interest payments, too.
One thing to look out for is zero deposit finance with a deposit contribution from the car manufacturer. This means you get an effective discount on the overall car price, meaning you have less to finance and thus less to pay each month.
Everyone buying a car on finance has to have their credit history checked to ensure they can pay back the loan. As a zero deposit loan is a little riskier for the finance companies, you need to have a great credit score to be accepted for this kind of deal.
It’s also worth bearing in mind that this type of finance deal is very expensive to end early, so you need to be sure the deal is right for you, and you can afford it throughout its duration, before signing up.
After more deals on new cars? Check out our round-up of all thebest new car dealsaround.
Zero Deposit Finance Deals - A-Z by Car Maker
Here's a list of zero deposit deals being offered by carmakers right now. Not all carmakers offer zero deposit finance, but if a deal pops up, we'll feature it here.
Fiat
- The electric Fiat 500e is available on PCP with zero deposit and a £3000 e-GRANT
Hyundai
- Hyundai Ioniq 5,Hyundai Ioniq 6 and Hyundai Kona Electric are all available with 0% APR on PCP. There's no minimum deposit required, and deal terms are up to 36 months
Kia
- Kia is offering zero deposit PCP on all models, plus deposit contributions on selected cars:
- Kia Picanto, Kia Sorento, and theKia Niro and Kia Sportage PHEVs (£500), Kia Ceed, Kia Stonic and Kia Proceed (£1,250), Kia Niro hybrid and EV, Kia Soul EV and Kia Sportage (£1,500) and Kia Xceed and Kia EV6 (£2,000)
Mercedes-Benz
- Mercedes offers many models with zero deposit and deposit contributions. The Mercedes A-Class hatchback has £4,000 off at 5.2% APR, the Mercedes GLC SUV has £4,500 off at 4.9% APR, and the Mercedes EQS Saloon has £7,000 off and 0% APR
- Find out more on these deals
Polestar
- The Polestar 2 Dual Motor is available on PCP from £602 per month with zero deposit and 0% APR. A £5000 discount and a free Plus pack upgrade, normally £4000, are also thrown in
Volvo
- The Volvo XC40 Recharge and Volvo C40 Recharge are available with up to £8000 deposit contributions, 0% APR and zero deposit on PCP
0 Deposit Car Finance Deals
Our round up the best new car finance deals with zero deposit to pay that are available right now. We update this page every week to make sure we bring you the best deals.
Hyundai i20 Advance 1.0 100PS
£309 a month: 4 year PCP, zero deposit and £1750 deposit contribution at 6.9% APR
The Hyundai i20 is among the more pragmatic choices of family hatchback, if not the last word in excitement. Go for this deal on the i20 Advance and you'll be getting the i20's spacious interior, complete with surprisingly massive rear-seat space, plus the latest safety kit, and an economical drive.
Deposit | Monthly Payments | Optional Final Payment | Total Payable | Mileage Per Year | Deal Available Until |
£0 | 48 x £309.08 (£14,835.84) | £8923.51 | £25,509.35 | 8,000 | 30th September 2024 |
Mercedes A-Class A 180 Sport Executive
£400 a month: 4 year PCP, zero deposit and £4000 discount at 5.2% APR
The Mercedes A-Class is a decent competitor when it comes to which premium hatchback you should buy. It's comfortable and easy to drive, and benefits from Mercedes' MBUX infotainment system. And you can pick one up on a four-year PCP deal with a £4000 discount, zero deposit for you to pay, and 5.2% APR.
Deposit | Monthly Payments | Optional Final Payment | Total Payable | Mileage Per Year | Deal Available Until |
£0 | 48 x £399.75 (£19,188) | £13,725.00 | £32,923 | 10,000 | 30th September 2024 |
Nissan Juke N-Connecta
£415 a month: 3 year PCP, zero deposit and £2000 deposit contribution at 5.99% APR
The Nissan Juke may have been toned down for its second generation, but it's still one of the more distinctive small SUVs on sale, and it's decent value for money. You can get a Nissan Juke with zero deposit and a useful contribution depending on model. The quote below is for a Nissan Juke N-Connecta DIG-T manual.
Deposit | Monthly Payments | Optional Final Payment | Total Payable | Mileage Per Year | Deal Available Until |
£0 | 36 x £396 (£14,940) | £11,765 | £28,695 | 6000 | 30th September 2024 |
Kia Sportage 2
£497 a month: 3 year PCP, zero deposit and £1500 deposit contribution at 7.9% APR
The Kia Sportage is one of the UK's best-selling cars. And it's not hard to see why, given that Kia's family SUV has plenty of equipment, a spacious interior and great warranty, plus some decent finance incentives like Kia chipping in £1500 so you don't need to put down a deposit.
Deposit | Monthly Payments | Optional Final Payment | Total Payable | Mileage Per Year | Deal Available Until |
£0 | 36 x £496.76 (£17,883.36) | £15,107.55 | £34,490.91 | 8000 | 30th September 2024 |
Volvo XC60 Core
£540 a month: 4 year PCP, zero deposit, £7000 deposit contribution at 5.9% APR
The Volvo XC60 has been gracing the school run with its presence since 2017. Volvo currently has a £7000 discount on PCP across the XC60 range, and zero deposit to pay. One downside is the four-six month delivery time, although cars are available from stock, cutting the wait to 15 weeks.
Deposit | Monthly Payments | Optional Final Payment | Total Payable | Mileage Per Year | Deal Available Until |
£0 | 47 x £539.71 (£25,366.37) | £21,508.50 | £47,914.58 | 6000 | 30th September 2024 |
Is a 0 deposit car finance deal a good idea?
Zero deposit car finance can be a great way of getting behind the wheel as you don't have to dip into your savings to pay a deposit. Instead, you just need to have enough money to cover the monthly payments and running costs of your car.
However, by not paying a deposit, your monthly payments will be slightly larger, although this may be more manageable for you depending on your finances.
It's worth looking for deposit contribution deals, perhaps on less popular cars, or models that are due to be replaced, as this means the car company covers some or all of your deposit, leaving your monthly payments more reasonable.
If you do decide to opt for a zero deposit deal, it's worth remembering that your finance application and any late payments can lower your credit score.
What’s the difference between zero deposit car finance and 0% car finance?
Zero deposit car finance means that you don't pay anything towards the deposit when you start your finance agreement. There may still be a deposit contribution paid, but that comes from the carmaker or car dealer's side.
0% APR finance on the other hand means that you don't pay any extra interest over the term of your agreement for the car you're financing than the cost of the car itself.
It's quite rare, but it is possible to find PCP deals where you pay no deposit, there is a deposit contribution, and there's 0% APR on the agreement, too.
What do I need to get a 0 deposit car finance deal?
Unfortunately, a zero deposit deal won’t be available to every buyer. That’s because there is a greater risk for the lender to take into account. Every person signing up to a finance deal will have their credit checked. However, it’s likely that a more thorough credit check will take place, including proving your income, to make sure you’re good for the repayments. You may also be asked for a guarantor to ensure that payments will be received if you can’t afford them for any reason.
What types of finance are offered with no deposit?
Zero deposit car finance is usually offered with Personal Contract Purchase (PCP). This is the most common way people finance cars in the UK, and means you’ll pay monthly with the option to own the car by paying the outstanding amount at the end of finance agreement.
The monthly payments are likely to be higher to take into account the fact that you didn’t pay a deposit to begin with, therefore it's worth looking out for PCP deals that include some kind of manufacturer deposit contribution or discount to help keep monthly payments reasonable.
Which cars are available with no deposit?
Many carmakers offer zero deposit finance deals, meaning that you’ll have plenty of choice in getting the exact car that meets your needs. They’re available on brand new cars, so you can specify the car exactly as you want it, although delivery times are worth checking right now, as these are still longer than usual given supply chain difficulties.
It is possible to get used cars with zero deposit finance, too, although it's worth checking exactly how much you'll end up paying overall, as these agreements can prove quite costly. It's always worth getting a quote tailored to you before you sign up to any deal, as this will spell out all the costs and obligations you'll need to cover.
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