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Check eligibility with no impact on credit score
We are a credit broker, not a lender.Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status. Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
Moneyrepublic is your direct route to car finance without a down payment. We know how crucial having your own car is, and we make it possible. Need a used car? Our no deposit car finance options put you in the driver’s seat.
How does hire purchase work?
Hire purchase agreements allow you to pay for a car in instalments over an agreed period of time, usually between 1 to 5 years. Here's how it works in three simple steps:
- You pay an initial deposit, typically 10-20% of the car's value. This secures the hire purchase agreement.
Apply for your loan
- You take ownership of the car immediately and start making monthly payments over the term of the agreement.
Receive the money
- Once you've made all the payments, including any final "balloon" payment, ownership of the car is fully transferred to you.
Pay it back over time
Our Lenders
We work with over 15 lenders offering 100+ HP and PCP deals so that you could have the best offer.
Car finance calculator
- 36months
- 42months
- 48months
- 60months
This helps you get a more accurate finance estimate
Not sure about being approved?
Check finance eligibilityWon't affect your credit score
We are a credit broker not a lenderThese estimates are subject to credit checks, and may change if you do apply for finance.
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| Loan amount | £7,500.00 |
|---|---|
| Length of Loan | 60 months |
| Monthly payment | £0 |
| Interest rate | 14.9% APR |
| Optional final payment | £0 |
| Amount of interest | £0 |
| Total payment | £0 |
Rates from 9.9% APR: the exact rate you will be offered will be based on your circumstances, subject to status.Representative example: borrowing £7,000 over 5 years with a representative APR of 21.9%, the annual interest rate of 21.9% (Fixed) and a deposit of £0, the amount payable would be £185.33 per month, with a total cost of credit of£4,119.81 and a total amount payable of £11,119.81. We look to find the best rate from our panel of lenders and will offer you the best deal that you're eligible for. We receive a fixed fee commission per finance agreement, or we receive a commission based on a percentage of the total amount of finance taken. This will not affect the interest rate offered or the total amount repayable. Our service is free.
What is no deposit car finance?
No deposit car finance allows you to own a car without putting down a deposit. This makes it accessible to more buyers. We streamline the process, letting you drive your car sooner.
At Moneyrepublic, we partner with lenders who specialise in car finance without deposits. You don’t need cash upfront or a car for part exchange – get the car you want on credit. While securing car finance without a deposit can be challenging, it is possible if your income and credit score meet the necessary requirements.
We cater to those without savings or a vehicle to trade. Start your journey to no deposit car finance with a free eligibility check on our website. Provide a few details to see your options.
Can I get car finance without a deposit?
Yes, lenders offer car finance without a deposit. This makes the upfront cost affordable but may increase your monthly payments, so consider this carefully. Even with bad credit, you can secure a car loan. Enjoy peace of mind and drive your dream car with our no deposit finance solutions. We ensure a stress-free journey to car ownership, guiding you every step of the way.
Lenders favour borrowers with better credit scores for no deposit deals. Opting for a PCP finance deal increases your chances of approval over Hire Purchase.
What do you need to apply for car finance with no deposit
| To apply for car finance you need to | Requirements |
|---|---|
| Your name | Be aged 18-75 years old |
| Date of birth and nationality | Requires initial deposit |
| Your recent address history | Receive a monthly income of £1,000 or above |
| Tour employment status | |
| Your income and expenses | |
Car finance options with no deposit
We offer a range of car finance options without the need for a deposit. From HP (Hire Purchase) to PCP (Personal Contract Purchase), you can choose the plan that suits your budget and lifestyle. Our goal is to provide you with the best options for your dream car.
HP car finance
Hire Purchase (HP) car finance allows you to spread the cost of your car over a fixed loan period, with affordable monthly payments. At the end of the agreement, you become the owner of the car, giving you complete freedom and ownership.
PCP car finance
Personal Contract Purchase (PCP) car finance offers lower monthly repayments and the flexibility to decide at the end of the term whether to purchase the car or return it. This makes PCP a versatile and appealing option.
Pros and cons of no deposit car finance
No deposit car finance offers several benefits: no upfront payment, affordable monthly payments, and the chance to own your dream car. Worried about credit? Our specialist lenders can help you secure the car you want.
| Pros | Cons |
|---|---|
| No upfront payment | Potentially higher APR |
| Affordable monthly payments | Smaller loan amounts |
| Flexibility in car choice | Impact on credit |
| Easy application process | Longer loan terms |
| Specialist lenders available |
Personal loans
Looking to for a personal loan to purchase a car of your dream? See if a personal loan could be an option for you.
Learn more & applyHow much can I borrow without a deposit?
Moneyrepublic offers generous borrowing limits without a deposit. You can borrow up to £40,000 to get the car you desire. We ensure financial constraints don't hinder your dream of owning the perfect vehicle.
What are the requirements for getting car finance with no down payment?
The requirements for no deposit car finance may vary slightly depending on the lender and your specific circumstances, but here are some common criteria:
- Age: Applicants are usually required to be between the ages of 18 and 75.
- Residency: Being a UK resident for a minimum of 12 months is often a requirement.
- Income: Having a consistent monthly income of at least £1,000 is generally expected to ensure that you can meet the monthly repayment obligations.
- Affordability: Lenders will evaluate whether the monthly payments fit within your budget. This assessment considers your income, expenses, and existing financial commitments.
- Identity and Address Verification: You'll need to provide proof of identity and address, such as a valid driving license or utility bill.
Apply for bad credit car finance with no deposit
If you're looking to secure car finance with bad credit and no deposit, we've got you covered. Moneyrepublic, a trusted online car finance broker, has partnerships with lenders who offer appealing terms regardless of your credit history.
We know maintaining a healthy credit score is crucial, so we always perform a soft search to ensure your credit remains intact. This allows you to explore bad credit car finance without worrying about your credit rating.
Even with a less-than-perfect credit history, our flexible panel of lenders can help you secure no deposit car finance. They specialise in creating finance packages tailored to your needs.
Curious about your eligibility for a no deposit deal? You can check it today at no cost, and your credit rating will remain unaffected, no matter the outcome.
Why choose us?
Get your car finance online
Get car finance options with no impact on your credit score.
Buy a car from any dealer
Once approved, collect or get your car delivered to you.
Car finance quality assured
We’ll do a thorough vehicle HPI, full-service history and MOT check. Buy with confidence.
FAQ's
- Can I get a no deposit loan with a bad credit score?Yes, you can! Moneyrepublic specialises in assisting those with bad credit histories. We have a network of specialist lenders who can help you secure a no deposit car finance deal, even if your credit score isn't ideal.
- Do I need a good credit rating to get no deposit car finance?No, you don't need a perfect credit rating to secure no deposit car finance. Many lenders work with individuals with varying credit histories. While a good credit rating can offer better terms, you can still get approved with bad or poor credit. Lenders will consider your income and credit history to determine your eligibility.
- Can I pay off the no deposit deal early?Yes, you can. With our flexible finance options, you can pay off your no deposit deal early without any penalties.
- How does no deposit typically impact monthly payments?No deposit means no initial payment, which often results in higher monthly payments. However, we work with you to find a plan that suits your budget, ensuring your payments remain affordable.
- Which cars are available with no deposit?You can choose from a wide selection of new and used cars with no deposit car finance. Whether you're looking for a family SUV, a stylish new car, or a reliable used vehicle, we've got you covered.
- Does a no deposit deal mean a longer decision process?No, it doesn't. Our application process is quick and straightforward. Opting for no deposit car finance won't prolong your decision process.
- How does no deposit car finance work?No deposit car finance eliminates the need for an upfront payment. You choose your car, and we arrange a finance package with affordable monthly payments. At the end of the term, the car is yours to keep.
- Is there a way to improve my credit score so that I can get car financing without a deposit?Yes, you can improve your credit score by paying bills on time, reducing debt, and managing your finances responsibly. Our team can guide you on improving your credit score to access better car finance deals. At Moneyrepublic, we help make your car ownership dreams a reality. Don’t let financial barriers or credit concerns stop you. Request a quote today and start your journey to owning a new car!