No Deposit Car Finance

While no deposit can make car finance more accessible, qualifying still requires meeting some key criteria. Here's what lenders typically consider:

• Credit Score: A good credit score shows responsible borrowing habits and can influence the interest rate you're offered.
• Affordability: Lenders assess your income and expenses to ensure the monthly payments fit your budget comfortably.
• Employment Status: A stable job and income demonstrate your ability to make repayments.
• Age: You'll need to be over 22 years, or have a previous mortgage or hire purchase agreement.

Strong overall financial health increases your chances of approval, even without a deposit.

Here are some additional things to keep in mind:

• Interest rates might be higher: Since there is no down payment to offset the loan amount, interest rates for no-deposit car finance can be slightly higher than with a deposit.
• Larger loan amount: Financing the full car value means a bigger loan and potentially higher monthly payments.

Getting no deposit car finance with bad credit can be challenging. Here's why:

• Higher risk for lenders: Without a deposit, lenders consider the loan riskier. They might be less likely to approve you or offer a higher interest rate to compensate for the increased risk.
• Higher monthly payments: No deposit means borrowing the full car value, which can lead to higher monthly payments that might be difficult to manage with bad credit.

Don't give up, though! Here are some options:

• Improve your credit score: While it takes time, consider ways to improve your credit score before applying.
• Consider a smaller, cheaper car: A less expensive car will mean a lower loan amount and potentially lower monthly payments.

We can still help! While we may be able to offer no deposit finance in this case, we can explore other options to find the right car finance deal for you.

Applying for no-deposit car finance is the same process as any car finance agreement.

1. First, budget and ensure you can afford the car and finance you want.
2. Then, collect all the necessary documents and ensure your credit score is as strong as possible.
3. Applying is easy; fill out an application form and wait for a decision.

Here at Marsh Finance, we have a simple one-page application form that can see you receive a decision the same day.

Interested in applying? Click here to apply for no deposit car finance quickly and easily.

Not necessarily! While having a good credit score can certainly make it easier to get approved for car finance, there are lenders out there who are willing to work with borrowers who have a poor credit history. Even if your credit score isn’t great, you still have options available to you. With a little bit of effort, you could be driving away in your new car in no time!

It only takes 30 seconds to submit a car finance application with Marsh Finance, get started today.

It does, and you can get it here at Marsh Finance. If you would rather save on a deposit, or simply don’t have the funds available to place down a large amount, you can use no deposit finance to get you on the road. Apply for finance with us and find out if you're pre-approved without impacting your credit score!

Zero deposit car finance is simple: financing without placing down a deposit. You choose not to place down a deposit, and instead make slightly higher repayments over a 12 – 60 month period, in order to cover what would have been the initial deposit.

You can, and even better, you can get it right here! At Marsh Finance we are proud to offer no deposit car finance, as we continue to support customers of all financial circumstances.

Zero deposit car finance can be a great option if you aren’t in a position to commit a massive sum as a deposit. If you are feeling the pinch financially, or simply want to use the money elsewhere, no deposit car finance can provide you the means to take control of your finances. It is important to note however that no deposit car finance will likely require higher monthly payments in order to account for the absence of a deposit.

Pre-approval is an important part of the car finance process. It shows that you could be someone eligible for finance, but more needs to be done to get your dream car. At the point of pre-approval, a soft credit check takes place. This doesn't affect your credit score, but going through with finance will mean a hard credit check. Pre-approval isn't a guarantee of a loan, but it's a really important start. If you are looking to get pre-approved for finance, we can help.