Securing used car finance with no deposit may sound like a pipe dream. In fact, there are lenders around who can help you to find finance for a used car whilst paying no deposit. That said, there are potential barriers to doing so.

Can you find used car finance deals with no deposit?

The short answer is – yes. Many lenders will work with you to find a no-deposit car finance deal on a used vehicle. There are many benefits to this option. You don’t have to pay a hefty lump sum upfront – typically just a modest reservation fee – and can crack on with full use of the vehicle.

However, typically only candidates with high credit scores will secure zero deposit used car finance. Individuals searching for car finance with a poor credit rating are unlikely to be offered a no deposit car finance deal, whether for a used vehicle or not.

Remember, too, that there are benefits to paying an initial deposit. Car finance deals like Hire Purchase (HP) or Personal Contract Purchase (PCP) require a deposit, which in turn reduces the size of your overall monthly repayments, as well as any interest rate attached.

By not paying an initial deposit, you have more money to pay back overall, which might also translate to a longer repayment period too.

As such, although no deposit used car finance might sound appealing, candidates with less than excellent credit ratings, or those who want more affordable repayment schemes, might want to reconsider whether it’s the most suitable option.

Find the right car finance for you

Find out if zero deposit used car finance is right for you with help from the My Car Credit team. Email us on and get behind the wheel of your ideal car finance today.

Rates from 9.9% APR. Representative APR 12.4%

Evolution Funding Ltd T/A My Car Credit

My Credit Rating


  • You are a home owner
  • You have been on the electoral role for a long period of time
  • You have current credit arrangements and mortgage with no defaults
  • You have no CCJs, credit arrears or missed payments
  • You rarely apply for credit
  • You are employed or self-employed


  • You are on the electoral role
  • You are a home owner or long standing tenant
  • You have a stable employment history
  • You have current credit arrangements with occasional missed payments
  • You have no CCJs


  • You are or have recently been on the electoral role
  • You may have recently changed address
  • You may have occasional missed payments
  • You may have an old CCJ
  • You may have regularly applied for credit


  • You may have had frequent changes in address
  • You may not be traceable on the voters roll
  • You may have exceeded credit card limits
  • You may have missed payments on current agreements
  • You may have had a CCJ in the past


  • You may not be traceable on the voters roll
  • Your credit cards are over their limits
  • You have recent CCJs
  • You may have been refused credit elsewhere
  • You may be in a debt management plan

X monthly repayments of

Typical rate

Loan amount

Total payable




*for illustration purposes only

No impact on your credit score*

Representative Example

Borrowing £7,500 at a representative APR of 12.4%, annual interest rate (fixed) 12.36%, 47 monthly payments of £196.44 followed by 1 payment of £206.44 (incl. estimated £10 option to purchase fee), a deposit of £0.00, total cost of credit is £1,939.12, total amount payable is £9,439.12.

Evolution Funding Limited, trading as My Car Credit, is a credit broker and not a lender.

Please ensure you can afford the repayments for the duration of the loan before entering into a credit agreement.

*Initial application is a soft search. Should you progress, some lenders may perform a hard search on your credit file.

Require more help?

Got a question you can’t find the answer to, or need some advice and guidance around taking out car finance? Our Car Credit Specialists are friendly, experienced, and here to help so get in touch today!