Cars on finance with no deposit is a brilliant way of securing a great car finance plan without having to save up beforehand.
What is no deposit car finance?
Car finance is a great option to consider when purchasing a car as it spreads the cost of your repayments and can help to maintain your finances, whilst improving a bad credit score. Car finance is essentially a quick and easy way for people who don’t want to pay for a car upfront or are unable to. Most repayment plans will require a deposit upfront or a part exchange, before monthly repayments are made over a period of between 12 and 60 months. However we understand that trying to get a deposit together for a car can be a daunting task and for many customers it is the stumbling block in the process. Many car dealerships won’t offer customers with bad credit a car finance deal with no deposit, as the risk for them is significantly higher, but at Refused Car Finance we liaise with a wide range of lenders and can guarantee we will find you the best possible deal to meet your requirements.
Refused Car Finance’s No Deposit Plan
At Refused Car Finance we want to make the process of buying a new car as easy as possible and by offering cars on finance with no deposit we take the inconvenience of saving for a deposit away, even if you have no current vehicle to part exchange. There are various ways in which car finance can be obtained but in order to get car finance with no deposit, the most common way is via Hire Purchase. Hire Purchase is essentially where you hire the car until the final payment has been made, after which you will own it. One thing to bear in mind is that with no initial deposit, your monthly repayments are likely to be higher than if you were to put an initial deposit down. However at Refused Car Finance we make sure that you can afford the monthly payments before taking out your repayment plan. We will discuss your budget and any other monthly expenditure will be taken into consideration before repayment terms are agreed on to give you the most convenient and suitable payment plan.
The other way in which to get car finance with no deposit is by what is called a Personal Contract Purchase. This is similar to a Hire Purchase agreement but once you have completed all of the monthly payments, a lump sum is required before ownership of the car belongs to you. This plan is most suitable for those who don’t necessarily want ownership of the car at the end of the payment plan but will have the opportunity to start a new payment plan on a new car if you desire.
Our team of experts will work to find the best possible rates for car finance with no deposit options – we believe that everyone should have the chance to drive away in their dream car no matter what their circumstances are.
Even if you fit into any of the categories below let us know. We will work with you and our exclusive lenders to find you an appropriate repayment plan, with no deposit and a car of your choice.