Car finance with no deposit is an option that can help you get behind the wheel without having to put down a lump sum of money up front. It works in a similar way to PCP but without the need for a deposit, and you will need to meet the criteria of the lender and make monthly repayments.
You may need to pay an ‘inception fee’ or a ‘maintenance fee’ on a car finance with no deposit arrangement and you will usually have higher interest rates than if you can afford a larger deposit as lenders will view you as more of a risk. However, if you can afford to meet the monthly repayments it could be a great solution for you.
ChooseMyCar has a panel of lenders who can provide car financing with no deposit and it’s easy to compare quotes online. Our team are also on hand to help guide you through the process and offer personalised assistance, contact us now for more information.
There are positives and risks to all forms of car financing but it’s important to consider how you plan on using the vehicle before you apply. We encourage you to review all your options carefully, and to speak to our expert team for a full breakdown of the pros and cons of each type of car finance. This can ensure you find the right finance deal to suit your budget and purchasing needs. no deposit car finance