No deposit 0% APR car finance deals

  • No money down, no interest charges
  • Rare to find deals
  • You'll need a good credit rating

2020 Vauxhall Corsa

It's a scary time for the British car industry. Sales were down as much as 90% year on year mid-pandemic, and ever increasing restrictions on emissions are forcing car manufacturers to change tack with what they sell.

However, sales figures are climbing again, showrooms are back up and running, and the latest slew of deals are out - hoping to entice new car buyers back.

No deposit, and 0% APR deals are both hallmarks of a great car finance scheme. So combining the two creates a very tempting deal.

It's worth knowing that these deals are only for people with good to excellent credit ratings. As you're not paying a deposit, you're increasing the money you're borrowing. Lenders do not like lending large sums of money with low credit scores as they're more of a risk.

No deposit 0% APR deals are pretty rare as it takes dealers longer to claw their money back - so don't expect to find too much variety. But they are there if you shop about, or if you prefer to get Parkers to do the searching for you.

Which we have done: >> Skip to all of the no deposit 0% car finance deals

A common deal at the moment is the offer of not having to pay anything for the first three-months. Audi, Skoda, Vauxhall, Dacia and Renault are just some of the carmakers opting for this.

Most of these have a slightly higher APR rate attached. However, some combine a 0% finance deal with a no deposit one.

This means there's nothing to pay for the first three-months, plus you won't be charged any money for spreading the payments out.

What does no deposit mean? 

No deposit is a pretty easy thing to get your head around. It means there's nothing to pay up front.

One way you might see this expressed is via a deposit contribution. These are sums of money carmakers or dealers (or on occasion, both) stump up towards a car finance agreement.

One example of this is with a BMW 5-Series. BMW regularly offers deposit contributions of around £5,000, bringing the deposit of a 5-Series down to something like £6,000.

It's usually shown like this:

Your deposit: £6,000
Our deposit contribution: £5,000
Total deposit: £11,000

One way in which a dealer might offer a no deposit deal is by providing a deposit contribution big enough to cover the entire deposit.

What is 0% car finance?

A 0% APR car finance deal allows customers to spread the price of a car over a number of years, divided into set monthly payments, with no additional charges.

It's basically like taking out a loan but without any interest fees added.

Generally 0% APR deals are available on Personal Contract Purchase (PCP) and Hire Purchase (HP) style agreements.

0% finance on used cars with no deposit

Throughout this article we're referring to new car sales, and the deals below are for new cars too.

0% finance with no deposit on used cars is available, but in some instances, it isn't quite the bargain it seems.

Instead of the seller charging money in the form of interest, they simply increase the total price to cover the money they would have made from APR.

An example: If you bought a car from a dealer for £10,000 on a Hire Purchase style agreement with a 5% APR rate, you would pay in total £10,500 over the course of the agreement (assuming for ease that the agreement is over 12 months). £10,000 for the car, and £500 in interest.

Some of these used car 0% finance schemes allow you to skip the deposit. But then the dealer simply adds that £500 worth of interest on to the cash price of the car.

No deposit 0% car finance deals: Full list

Looking to buy a car with no deposit? These are the latest deals:*


 

Nissan no deposit 0% APR car finance deals

Nissan Micra rear

Nissan is now offering a stream of new deals to entice people into showrooms, virtual or real.

The company offers a 0% APR deal on the Micra, Qashqai, and X-Trail, but if you want a no deposit and 0% APR deal combined, it's only available with the Micra.*

Nissan Micra no deposit 0% car finance

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Renault no deposit 0% APR car finance deals

2020 Renault Clio

Renault is our current Parkers new car finance award winner for 2020, and with deals like these, it's easy to see why.

The Clio and Captur, are both available on a scheme that enables buyers to put down no deposit, while also offering 0% APR agreements.*

Renault Clio no deposit 0% car finance

Renault Captur no deposit 0% car finance

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Suzuki no deposit 0% APR car finance deals

2019 Suzuki Swift

To celebrate the introduction of Suzuki's new mild hybrid engine range, every model (well, except for the Jimny SUV) is available with 0% APR and £0 deposit. The deals aren't too restrictive either - they're available on 25, 37, and 49 month contracts.*

Suzuki Swift Sport no deposit 0% car finance

Suzuki Swift no deposit 0% car finance

Suzuki Ignis no deposit 0% car finance

Suzuki Vitara no deposit 0% car finance

Suzuki S-Cross no deposit 0% car finance

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Vauxhall no deposit 0% car finance

2020 Vauxhall Grandland X Hybrid4

Vauxhall is well known for its deal making abilities, and this one's a stonker. The British company is combining 0% APR over a four-year PCP agreement with no money down.

There's also the option of taking a three-month payment holiday at the start of the agreement. Plus, there's a job loss payment waiver. This allows customers to waive up to six monthly payments if they suffer an involuntary redundancy.*

Vauxhall Astra no deposit 0% car finance

Vauxhall Corsa no deposit 0% car finance

Vauxhall Crossland X no deposit 0% car finance

Vauxhall Grandland X no deposit 0% car finance

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Further reading:

>> No deposit car finance deals

>> 0% APR car deals

>> No deposit car leasing

>> The best new car deals

>> The best electric cars to lease

>> The best hybrid cars to lease

*These deals are indicative examples of some packages available as at 5 September 2020, but are subject to change without prior notice. Everyone's financial circumstances are different and the availability of credit is subject to status. Terms, conditions and exclusions apply. Parkers cannot recommend a deal for you specifically.