No deposit car finance explained plus the 2021 deals

  • Finance schemes are available with no money down
  • All of the manufacturer-backed deals listed
  • Watch out for high APR rates

Does life keep getting in the way of you saving up for a car deposit? If so, a no deposit car finance deal could be the way to get you behind the wheel of a new motor.

No deposit deals are generally available on a wide range of cars, plus both PCP (Personal Contract Purchase) and HP (Hire Purchase) deals are available with no deposit.

There are of course some drawbacks. Car dealers are less likely to give you a low interest rate or other discounts without a deposit.

It's also worth noting that no deposit deals are generally reserved for people with excellent credit ratings. This is because without putting anything down, you essentially borrow more money.

>> Ready to dive into the deals? Skip to all of the no deposit car finance deals

Deposit contributions

Deposit contributions are sums of money that manufacturers or dealers (or sometimes both), put towards a car finance agreement. It essentially works as a discount you get up front.

The deposit contributions can greatly affect how much your deposit is.

For instance, BMW regularly offers deposit contributions of around £5,000 on its popular 5 Series. One example of this sees the customer deposit drop from £11,000 to £6,000.

Big deposit contributions on cheaper cars, however, can effectively rid customers of the need for a deposit at all.

No deposit car finance with bad credit

Generally, the best deals are reserved for people with good-to-excellent credit ratings.

If you have a bad credit rating, it might make more sense to pay a deposit. This is because paying a deposit reduces the value of your monthly payments. Lenders see people with low credit scores as a risk to lend money to, so reducing the money you're borrowing greatly improves your chances of being accepted.

>> Can I get a car loan with poor credit?

Top tips for choosing a no deposit car finance agreement

> Manage your expectations. A lot of high-end manufacturers don't offer no deposit deals
> Set yourself a monthly limit and stick to it
Figure out how many miles you're going to cover. Penalties can be as high as 15p per mile if you go over your limit
> Look at the APR rates. If you can afford the deposit, it often works out cheaper in the long run because higher deposits are associated with lower APR rates

No deposit car finance deals: Full list

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

BMW
Kia
MG
Nissan
Renault


BMW no deposit car finance deals

BMW X2 no deposit

No deposit deals are available on most of BMW's range. However, not strictly on all trim levels and engines. Most of the cars are available with no money down because of hefty deposit contributions from BMW.*

BMW i3 no deposit car finance

BMW iX no deposit car finance

BMW iX3 no deposit car finance

BMW X1 no deposit car finance

BMW X2 no deposit car finance

BMW X3 no deposit car finance

BMW X4 no deposit car finance

BMW X5 no deposit car finance

BMW X6 no deposit car finance

BMW X7 no deposit car finance

BMW Z4 no deposit car finance

BMW 1-Series no deposit car finance

BMW 2 Series no deposit car finance

BMW 2 Series Gran Sport Coupe no deposit car finance

BMW 3 Series no deposit car finance

BMW 3 Series Touring no deposit car finance

BMW 4 Series Sport Coupe no deposit car finance

BMW 4 Series Convertible no deposit car finance

BMW 5 Series no deposit car finance

BMW 5 Series Touring no deposit car finance

BMW 7 Series no deposit car finance

BMW 8 Series Gran Coupe no deposit car finance

BMW 8 Series convertible no deposit car finance

Kia no deposit car finance deals

Kia no deposit

Kia is offering its entire range of cars in its no deposit offer.*

Kia Ceed no deposit car finance

Kia EV6 no deposit car finance

Kia e-Niro no deposit car finance

Kia Niro no deposit car finance

Kia Picanto no deposit car finance

Kia ProCeed no deposit car finance

Kia Sorento no deposit car finance

Kia Soul EV no deposit car finance

Kia Sportage EV no deposit car finance

Kia Stinger no deposit car finance

Kia Stonic no deposit car finance

Kia XCeed no deposit car finance

MG no deposit finance deals

MG 5 EV

Tempting finance deals and a seven-year warranty are key to MG's appeal. The company also offers no deposit deals on all of its models. However, they can't be used in conjunction with MG's 0% APR deals.*

MG 3 no deposit car finance

MG 5 EV no deposit car finance

MG ZS no deposit car finance

MG ZS EV no deposit car finance

MG HS no deposit car finance

MG HS plug-in no deposit car finance

Search for MG leasing deals

Nissan no deposit car finance deals

Nissan Juke no deposit

Nissan is another manufacturer offering a great chunk of its range with no deposit options. The Leaf and Micra are available with 0% APR too.*

Nissan Juke no deposit car finance

Nissan Leaf no deposit car finance

Nissan Micra no deposit car finance

Nissan Qashqai no deposit car finance

Renault no deposit car finance deals

Renault no deposit

Renault is offering its entire range on no deposit 0% APR deals. This explains why it took home the award for New-Car Finance of the Year.*

Renault Clio no deposit car finance

Renault Captur no deposit car finance

Renault Kadjar no deposit car finance

Renault Arkana no deposit car finance

Renault Zoe no deposit car finance

Further reading:

>> No deposit car leasing

>> 0% APR car deals

>> The best new car deals

>> The best electric cars to lease

*These deals are indicative examples of some packages available as of 6 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.