No deposit 0% APR car finance deals

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

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

And 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 don't like lending large sums of money to people with low credit scores as they're more of a risk.

No deposit 0% APR deals are pretty rare too, as it takes dealers longer to claw their money back.

But they are there if you shop about, or if you prefer to get Parkers to do the searching for you. 

>> Keep reading for more info or skip to all of the no deposit 0% car finance deals

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 refer to new cars.

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.

However, it only has no deposit options on two of its cars when combined with 0% APR.*

Nissan Leaf no deposit 0% car finance

Nissan Micra no deposit 0% car finance

Renault no deposit car finance deals

Renault no deposit 0% APR

Nearly every car in Renault's range is being offered with a 0% no deposit deal. This goes some way in explaining how the French firm picked up our New-Car Finance of the Year award.*

Renault Clio no deposit 0% car finance

Renault Captur no deposit 0% car finance

Renault Kadjar no deposit 0% car finance

Renault Arkana no deposit 0% car finance

Renault Zoe no deposit 0% car finance

Further reading:

>> No deposit car finance deals

>> 0% APR car deals

>> Halal car finance

>> 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 of 5 October 2021, 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.