Deposit advice for car finance
Do i need to pay a deposit for car finance?
At Socialmotors, you will not be required to pay a deposit.
Although, if you would like to pay a deposit upfront – This will lower your monthly repayments and the total amount of your car finance loan.
Benefits of paying a deposit
Paying a deposit upfront can sometimes be very beneficial, as you will be lowering the amount of money you are requesting from the finance company. This could give you a better chance of being approved.
We have many customers who have been approved using our no deposit car finance packages. So, do not be discouraged if you have no funds to put down initially.
Is there a criteria for no deposit
With over 20 finance lenders on our panel, Socialmotors can help people with Excellent, good, fair and bad credit scores.
We have carefully selected car finance lenders who specialise in providing affordable finance solutions for people looking for no deposit car finance.
Even if you have CCJ’s, arrears, defaults, IVA’s, refused from other lenders, and even those who have no credit score at all.