Best Zero Deposit And Low Deposit Car Finance Deals August 2024
Zero deposit and low deposit car finance deals help make buying a car more accessible.
Instead of having to put down many thousands of pounds as deposit, new car buyers can sign up for a new car with either no payment at all, or a low and affordable up-front sum.
What’s more, if you have an older car that’s worth less than a more modern motor, a zero deposit or low deposit car finance deal means you can still use the trade-in of your old car to take on a new deal, without having to fork out any extra.
The best zero deposit and low finance car deals are also tailored to ensure monthly payments remain affordable. For those on a budget, they are great all-round deals.
What makes a good zero deposit or low deposit car finance deal?
Some zero deposit or low deposit car finance deals see the car manufacturer add a so-called ‘deposit contribution’, instead of the car buyer having to fork out.
This incentive helps lower the amount of money being financed, which keeps monthly payments low.
Other zero deposit and low deposit car finance offers are PCP car deals that are tailored to take advantage of a car’s low rate of depreciation. Monthly payments can remain affordable even without a deposit, because the car will still be worth a good amount of money at the end of the deal – lowering the amount you're financing
Expertise is required to create a good zero deposit or low deposit car finance deal. Don’t simply jump in and sign up, because you could pay for any up-front savings further down the line, particularly in terms of steep monthly payments.
To help you, we are picking out the most competitive deals that are worth investigating. Check out the best zero deposit and low deposit car finance deals here and see how much you can save!
Best zero deposit and low deposit car finance deals in August 2024
Citroen C4 for £349.44 a month with £339 deposit
The Citroen C4 is a practical family hatch that offers more space than small cars such as Citroen C3. It's particularly appealing in C4 You! trim, which costs just £18,723. Only available online, it offered with a PCP deal for a low £339 deposit and £349.44 a month payments.
- Deposit: £339
- Monthly payments: 47 x £339.01 (£15,933.47)
- Optional final payment: £8281
- Total payable: £25,043.68
- Mileage per year: 6000
- Representative APR: 11.9%
- Deal ends: 16 July 2024
Kia EV6 with zero deposit and 2.9% APR
One of the very best electric cars, the Kia EV6 has a striking design, loads of interior space and is great to drive. Kia is now offering the high-spec EV6 GT-Line S 77.4kWh model with a low 2.9% APR, no deposit and a £2000 deposit contribution. As with most PCP deals, though, you can adjust things – if you do have a deposit, you could drive down your monthly costs further.
- Deposit: £0 (+ £2000 Kia deposit contribution)
- Monthly payments: 36 x £871.84 (£31,386.24)
- Optional final payment: £23,626.20
- Total payable: £57,012.44
- Mileage per year: 10,000
- Representative APR: 1.9%
- Deal ends: 20 September 2024
Toyota Aygo X for £223 a month with £1000 deposit
This stylish Toyota Aygo X Edge isn't quite available for no deposit – but the £1000 deposit is still very low, and boosted further by a £300 contribution from Toyota. It's then just £223 a month for three years, with the total amount payable kept in check by a competitive 2.9% representative APR.
- Deposit: £1000 (+ £300 Toyota deposit contribution)
- Monthly payments: 36 x £223.88 (£8059.68)
- Optional final payment: £7897.50
- Total payable: £18,376.58
- Mileage per year: 8,000
- Representative APR: 2.9%
- Deal ends: 1 July 2024
Volvo XC40 Recharge for £513.59 a month with 0% APR and £8000 discount contribution
The Volvo XC40 Recharge is one of our favourite electric SUVs and this tempting off makes it even more desirable. Not only is Volvo providing a huge finance discount contribution of £8000, you only need to put down a £500 payment. And did we mention that it's 0% APR for the term of the agreement? Monthly cost can be as low as £513.59 over 48 months for the well spec'd Plus model.
- Deposit: £500
- Monthly payments: 48 x £513.59 (£24,652.32)
- Optional final payment: £19,402.50
- Total payable: £44,555
- Mileage per year: 6,000
- Representative APR: 0%
- Deal ends: 30 September 2024
Volvo C40 Recharge for £475.61 a month with 0% APR and £7500 discount contribution
If you're looking for a stylish coupe-SUV, then the Volvo C40 Recharge could be for you. Based on the excellent XC40 Recharge, Volvo is providing a hefty £7500 finance discount contribution, while there's 0% APR over 48 months, meaning monthly payments can be as little as £475.61 with a £500 upfront payment.
- Deposit: £500
- Monthly payments: 48 x £475.61 (£22,829.28)
- Optional final payment: £17,525.63
- Total payable: £40,855
- Mileage per year: 6,000
- Representative APR: 0%
- Deal ends: 30 September 2024
Zero Deposit Car Deal FAQs
As with all car finance deals, finding the right deal for you, with monthly payments you can afford, is not quite the full picture. You still need to be approved, which is where your credit rating comes into the mix. Your car deal will do this for you and run through the finer details when your credit application is approved.
It’s becoming surprisingly common to find zero deposit and low deposit car finance deals combined with 0% APR. This is an added bonus, as it means you won’t pay any extra in interest over the terms of the deal.
A deposit contribution is a sum of money the car manufacturer puts towards your deposit. This is effectively money off the car, but by putting the cash towards a deposit, it means the customer doesn’t have to fork out up front – and it also means the monthly payments are lower, as you’re borrowing less money on finance. It’s always worth looking for deposit contributions if you want to keep your personal deposit as low as possible.
By offering a zero deposit or low deposit car finance deal, manufacturers can make a new car accessible for those who don't have much to put down, or don't have a car to trade in.
You can, but you'll have to look a bit harder for these deals. They sometimes don't hang around for long, either. It is often worth checking out large dealer groups for the latest zero deposit or low deposit car finance deals.
A zero deposit car finance deal is a good way to get into a new car without putting much down. Increasingly, car makers are adding in their own contributions, so you still get a decent amount put down, which lowers the amount you have to borrow on finance. Often, 0% finance further sweetens the deal.
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