No deposit car finance explained plus the latest deals

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

2020 BMW 2-Series Gran Coupe

If you've been trying to save a deposit for a new car and not had much luck, here's some good news: it's possible to buy a new car on a Personal Contract Purchase (PCP) deal and not pay a penny up front.

The good news keeps on coming too. There are some great no deposit schemes out there on a wide variety of cars. Just don't expect too much in the way of metal from premium manufacturers.

You can lose out if you don't do your homework, though. Dealers are less likely to give you a deal with low interest rates or big discounts without a deposit, as it will take them longer to claw back their money.

>> 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.

While big deposit contributions on cheaper cars can effectively rid customers of the need for a deposit.

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.

Top tips for buying a no deposit car finance car

>> 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 no deposit car finance deals

2019 BMW 3-Series

No deposit deals are available on most of BMW's range. However, not strictly on all trim levels and engines within the range - so it's worth checking.

Most of the cars are available with no money down because of hefty deposit contributions from BMW. For instance, the company is offering £19,000 off a BMW 7-Series in the form of a deposit contribution.

BMW i3, X1, X2, X3, X4, X7, 1, 2, 3, 4, 5 and 7 Series no deposit car finance

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Dacia no deposit car finance deals

2020 Dacia Duster

Dacia is offering to pay the equivalent of the first three monthly payments of a customer's finance agreement. When a customer combines it with a Dacia no deposit deal, they can have nothing to pay for the first three months.

Every model is on offer, but you'll have to choose from a car that's already in stock.

Dacia Duster no deposit car finance

Dacia Sandero no deposit car finance

Dacia Sandero Stepway no deposit car finance

Dacia Logan MCV no deposit car finance

Dacia Logan MCV Stepway no deposit car finance

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Kia no deposit car finance deals

Kia Stonic

Kia is offering four cars in its no deposit car finance scheme. They're pretty tempting, and don't come with horrendous APR rates attached.

The South Korean carmaker also has a 0% APR promotion on at the moment. But the two can't be combined.

Kia Rio no deposit car finance

Kia Ceed no deposit car finance

Kia ProCeed no deposit car finance

Kia Stonic no deposit car finance

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Renault no deposit car finance deals

Renault Clio front end

Renault is well known in the industry for its ability to make deals. In fact, it took home the Parkers new-car finance award for 2020.

Its latest scheme, called Drive Now Pay Later, gives customers the opportunity to pay nothing for three months. That means no deposit, plus three deferred monthly payments. It's also available with 0% APR.

Renault Clio no deposit car finance

Renault Captur no deposit car finance

Renault Kadjar no deposit car finance

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SEAT no deposit car finance deals

2020 SEAT Leon

SEAT's deal is very similar to Renault's above, except that it's on all of its range of cars.

Basically SEAT stumps up the deposit, then you don't pay the monthly payments for the first three months. But remember, these monthly payments are deferred - so you'll pay them eventually.

The inclusion of the brand-new Leon proves that no-deposit deals don't just run to old models manufacturers are struggling to shift.

SEAT Mii no deposit deal

SEAT Ibiza no deposit deal

SEAT Leon (new model) no deposit deal

SEAT Leon (old model) no deposit deal

SEAT Leon Estate (old model) no deposit deal

SEAT Arona no deposit deal

SEAT Ateca no deposit deal

SEAT Tarraco no deposit deal

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Suzuki no deposit car finance deals

2019 Suzuki Swift

New for this year is Suzuki's mild-hybrid system. It's been introduced in order to reduce emissions, and to get the ball rolling with sales, Suzuki is offering all cars with this new tech on a no deposit deal.

It can be teamed with 0% APR, and is available on 25, 37, and 49 month contracts. Every car in the Suzuki range, minus the adorable Jimny, is available.

Suzuki Swift, Ignis, Vitara and S-Cross no deposit car finance

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Vauxhall no deposit car finance

2020 Vauxhall Corsa

Another great finance offer from Vauxhall. The British company is combining £0 deposit and 0% APR deals over a four-year PCP contract.

Plus, customers can take a three-month payment holiday for the first three payments. Vauxhall also offers a job loss payment waiver - this allows you to waive up to six monthly instalments in the event of involuntary redundancy.

Vauxhall Astra no deposit deal

Vauxhall Corsa no deposit deal

Vauxhall Crossland X no deposit deal

Vauxhall Grandland X no deposit deal

Vauxhall Insignia Grand Sport no deposit deal

Vauxhall Combo Life no deposit deal

Vauxhall Vivaro Life no deposit deal

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Further reading:

>> No deposit car leasing

>> 0% APR car deals

>> The best new car deals

>> The best electric cars to lease