There are 15 specialist fair and bad credit finance lenders that are active in the UK at the moment so there are actually several options to get approved for no deposit car finance if you have bad credit.
Getting an approval depends on whether your credit file and your income demonstrate that you have affordability to maintain car finance payments over the course of the car finance agreement.
Yes you can. Here are the most important factors that fair and bad credit car finance providers look at when deciding whether to offer car finance:
All of the fair and bad credit car finance providers use soft search, so there is no impact on your credit rating if you choose to apply for car finance.
We are a broker that organise car finance loans, specialising in helping customers with a fair or bad credit rating. We work with every fair and bad credit car finance provider in the UK to ensure we offer you the best car finance approval for your personal credit rating using a soft credit check to have no effect on your credit score. We also specialise in helping customers that are paid weekly to get approved for a car finance agreement where they can pay their payments weekly instead of monthly.
If you apply, and get approved for 0 Deposit Car Finance, this means that the finance company will pay the dealer in full for the car, leaving you with any spare funds to be spent on insurance, road tax, fuel etc.
If you make an application for car finance, and want to get approved without a deposit, just enter ‘0’ when you reach the ‘Deposit’ section of the application form and your application will be considered with no deposit.
Yes, it is possible. All finance companies use independent valuers to determine a value of the car and will offer a percentage of this valuation when approving a customer. So, there are occasions where the finance company might offer a 85% or 90% approval meaning that a deposit may be required.
We will discuss this with your chosen dealer to see what options you have to allow you to pay the smallest deposit possible.