0 Deposit Car Finance
No savings set aside does not mean no car. Hero arranges 0 deposit car finance, where the agreement covers the full value of the car and you drive away without putting money down. The eligibility check uses a soft search, so finding out if you qualify has no impact on your credit score, and with terms up to 60 months on HP the monthly payment stays manageable even with nothing down.
Can you really get car finance with no deposit?
Yes. A deposit is not a requirement for car finance. With a zero deposit agreement the lender finances the full price of the car, and your monthly payments cover the whole amount rather than the price minus a deposit. Approval works the same way as any other application: the lender looks at your income, outgoings, employment, and credit file, and decides whether the monthly payment is affordable for you. No deposit car finance is available on both Hire Purchase and PCP, and it is available to applicants with bad credit. The trade-off is simple and worth being honest about: financing the full value of the car means borrowing more, so the monthly payment is higher than the same agreement with a deposit, and the interest adds up on a bigger balance.
How to keep the monthly payment down with nothing down
Use a longer term
The biggest lever is the term. Hero arranges HP terms up to 60 months (5 years), giving you room to spread a full-value loan and bring the monthly payment back down to where a shorter agreement with a deposit would sit. The calculator shows the effect instantly: same car, different terms, side by side.
Use your current car instead of cash
A deposit does not have to be money in the bank. If you have a car now, part exchange car finance puts its equity into the deal as your deposit, even if you have never thought of it that way. For many buyers this turns a zero deposit application into a with-deposit application without saving a penny.
Choose the car to fit the payment
With hundreds of cars in stock at Oakwood Motor Company group across Bury and Chorley, each one AA inspected before handover, the choice is wide enough to work backwards from the monthly payment you want rather than forwards from a car you then cannot afford. Delivery is available nationwide, and the same business that arranges the finance supplies the car, so the budget conversation and the car conversation happen in one place.
No deposit car finance with bad credit
Zero deposit deals are available to applicants with an imperfect credit file. Hero's panel includes lenders who specialise in bad credit, and a CCJ, default, or past refusal does not rule out a no deposit agreement. Expect the rate to reflect the combination: no deposit means the lender carries more of the car's value, and a weaker file means more risk, so the two together usually price higher than either alone. Our bad credit car finance options cover what affects the rate and what helps. The eligibility check is the honest first step. It uses a soft search, shows where you stand, and costs your credit file nothing.
How the application works
- See what you can afford with a soft search. No impact on your credit score.
- Complete the application: personal details, employment, income, outgoings.
- Hero searches its panel of lenders for an agreement at 100% of the car's value.
- If approved in principle, choose your car from the stock and see the final figures.
- If you go ahead, the lender may run a hard search before issuing the documents.
- Sign and drive away. Nothing paid upfront.
Frequently asked questions
Per month, usually yes, because the loan covers the car's full value. Over the agreement, the larger balance also accrues more interest than the same deal with money down. A longer term offsets the monthly figure, and part exchange equity can close the gap entirely. The calculator shows all three scenarios in seconds.
Yes. Lenders on Hero's panel offer zero deposit agreements to bad credit applicants. The rate reflects the risk, and the eligibility check (a soft search, no impact on your score) is the quickest way to find out what is available to you.
It means no deposit is required on the finance. Your first monthly payment is typically collected around a month after the agreement starts, in line with the schedule in your agreement.
Yes. Any equity in your current car (its value minus anything still owed on it) goes into the deal as your deposit. It is the most common way buyers without savings put money down without realising they could.
Ready to get started?
See what you can afford with a soft search, no impact on your credit score, or run a zero deposit scenario through the calculator first to see your monthly payment.
See what you can afford