Looking for bad credit car finance with no deposit? At Carvine, we help people who struggle financing a vehicle to get approved.
If you have bad credit, a low credit score or have been rejected for car finance, we can introduce you to specialist lenders that can get you approved within minutes.
Our car finance calculator helps you see how much your car loan repayments will be on a monthly basis.
Simply select how much you are looking to borrow and for how long.
Can you get car finance without having to pay a deposit?
If you don’t have the funds to cover a deposit, you don’t have to worry – car finance options are available without a deposit.
We look at things differently than other lenders so you can get behind the wheel faster without waiting months or years to save for a deposit. Of course, your monthly payments may be higher but this is an excellent way of getting the car you want without needing money up-front.
By working with an extensive panel of lenders, we are able to consider car finance applications from people with different financial circumstances. If you have bad credit, are self-employed or are a young driver, we can help.
Our team is friendly and approachable and understand that everybody’s credit history and circumstances are different. We often help those who have been declined for a car loan elsewhere.
How much will a bad credit car loan cost?
A car loan will be more expensive if you have bad credit. You can see below an example at 24.9% APR over a 4 years term.
|Total cost of credit||£3,785.63|
Can you tell me how getting a car loan with bad credit and no deposit works?
At Carvine, we understand that getting bad credit car finance can be tricky, so we’ve made it as easy as possible.
Our simple, online car finance application form means you can apply with complete confidence – we will only do a soft credit search, which won’t affect your credit score.
Step 1: Submit Your Car Finance Application
The first step is to apply for car finance – completing our application form is quick and easy. All we need is some basic information about you, such as your name, date of birth, address and employer.
Step 2: Get Approved
We can usually give you a decision in just a few minutes. Once you’re approved, you’ll be one step closer to driving away in your new car.
Step 3: Choose Your Car
The final step is to pick a car! We’ll put you in touch with reputable, pre-checked dealerships that offer great service and aftercare, so you can buy your car with peace of mind.
Can I get car finance even if I have a CCJ?
If you have a CCJ and want to get car finance without putting any money down, it’s best to wait about a year before applying. During this time, you can work on improving your credit score.
However, it’s still possible to get car finance with a CCJ, and we have helped many people who have done so. Waiting for at least a year will give you more options.
What factors can impact my ability to qualify?
Here are some things that might affect your chances:
– Late payments: If you’ve missed payments on other loans, try to catch up as soon as possible.
– IVAs: If you have an ongoing IVA agreement, we’ll need written permission from your insolvency practitioner before we can lend to you.
– Bankruptcy: Unfortunately, we cannot approve applications from people who are currently bankrupt.
– CCJs: We’ll still review your application if you have a county court judgement against you.
– Unemployed: We can find car finance for unemployed people, but only if they receive DLA or PIP benefits.
We want to help you get your dream car, but we also want to make sure that our lending is responsible.
Why choose Carvine?
When the cost of living is high, getting a new car may seem impossible. Our car finance with no deposit in the UK could be the answer – and there are plenty of reasons why Carvine could be the perfect provider for you.
If I opt for a no deposit finance plan, which car options will be available to me?
If you’re looking to finance a car, using a car finance broker can be really helpful. We can provide you with financing options that you can use at a variety of dealerships across the UK that the Financial Conduct Authority has approved.
Once you’ve secured your financing, you can choose a dealership you trust to find the car you want, whether it’s a Range Rover, Ford, or Audi. The broker can help you get behind the wheel of your dream car.
Where can I use the no deposit offer?
After we help you get approved, you can buy your car from any trustworthy dealership that has the approval of the Financial Conduct Authority (FCA). This is one of the many benefits of our service as we’re not a dealership and won’t restrict your car options.
Frequently asked questions
Can I be guaranteed no deposit car finance?
Unfortunately, we cannot guarantee that you will not have to pay a deposit for your car finance. Additionally, it’s important to note that guaranteed car finance is not a real possibility. Any car finance provider claiming otherwise should be approached with caution. While it may be heavily advertised, a reputable lender will never offer guaranteed finance in any form, regardless of whether or not a deposit is required.
What is the maximum amount I can borrow without making a deposit?
Use our car finance calculator to see how much you can borrow without a deposit. Keep in mind that some agreements may require a deposit based on affordability and credit score.
What is the duration for paying off no deposit finance?
The duration of your finance agreement will vary based on the car you select and your personal circumstances. We’re here to assist you in customizing your agreement to make it more budget-friendly for your specific situation.
Is leasing a hybrid or electric vehicle possible without placing a deposit?
Looking to finance a hybrid or electric vehicle? Carvine can help! Start the process today or reach out to our team if you have any questions. Our experts are always available to assist you and ensure that you get the best finance package possible.
Is it possible to obtain car financing without a deposit while receiving benefits?
Car finance eligibility varies depending on personal factors. Whether or not you can obtain car finance with no deposit or if you qualify for car finance on benefits is determined by the specific benefits you are claiming.
What is the minimum credit score needed for car finance without a deposit?
If you’re concerned about your credit score, there’s no need to worry. We can assist you with getting car finance even if you have bad credit and no deposit. Several lenders are available and willing to collaborate with individuals with a weak credit history, so there’s no need to fear rejection.
At Carvine, we are dedicated to aiding those with bad credit in obtaining the car finance they need, regardless of whether or not they have a deposit to put down.
For further information and a jargon buster, see our useful advice for bad credit car finance.