Include the Full Car Price in the Loan with Easy’s No Deposit Car Loans
Including the entire cost of buying a new car in the car loan can present a very attractive option for man buyers. Is it the right option for you? Calculate repayments with and without making a downpayment to the dealer to help decide which option suits your need and which to request in your quote from Easy.
- Fast Loan Approvals
- Low-rate Car Finance
Easy Tip: to decide if No Deposit is the best option for your new car purchase, request pre-approval on both options to compare.
With the cheaper interest rates we can achieve, no deposit may be a very attractive and affordable option to free up savings.
No Deposit Car Finance is a reference seen advertised and promoted in both the lending sector and the motor vehicle marketplace. But the terminology does need some clarification to be fully understood and the upsides and downsides appreciated.
We make it easier to decide if this option is right for you by explaining what’s involved in simple terms for all car buyers to understand.
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Dealer Deposit v Lender Deposit
No Deposit Finance is a term used by lenders. It refers to the lender approving the entire purchase of the vehicle be included in the loan amount requested. This is a different reference to ‘deposit’ as used by motor vehicle dealers and other sellers.
It is quite accepted that a dealer will request a buyer to pay a deposit when the decision is made to purchase a particular vehicle. It is the dealer’s assurance that they carry out the pre-delivery preparation, knowing that car has been sold.
Often this may be treated as a ‘holding deposit’. The dealer may hold credit card details or accept other payment methods. Where no deposit finance is secured and settlement made by the lender with the dealer, the dealer returns the ‘holding deposit’ to the buyer.

What can be Included in No Deposit Finance
By definition or inference, No Deposit may be interpreted as no necessity to pay any money upfront when buying a new car. But the purchase price of a new car can include many separate items. The items which may be included in No Deposit would be all those included on the dealer invoice.
These may include:-
- Vehicle price.
- Stamp duty.
- Third party insurance.
- Dealer delivery charges.
- On road costs.
- Registration for first year or period provided by the dealer in preparing the vehicle.
- Accessories as selected at time of purchase and included on the dealer invoice.
Comprehensive insurance is required with secured car finance. This would need to be obtained by the buyer as a separate arrangement from the purchase. Many motor vehicle insurers offer premium instalment schedules so insurance may be paid monthly rather than annually.
No Deposit Car Finance Products - Considerations
- Subject to lender approval, both personal and business finance can be arranged on a no deposit basis.
- Approval to borrow the full amount of a new car is subject to individual lender decisions.
- The risk assessment of the applicant may determine whether or not a lender will approve that loan amount.
- Approvals may differ for new and used vehicles.
- No deposit finance involves a larger loan amount than if a deposit was paid to the dealer to reduce the loan amount required.
- Borrowing more means more interest is payable over the term of the loan.