Answered: Do I Need A Deposit To Get Car Finance? | U Car Finance UK
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Do I Need A Deposit?

Do I Need A Deposit?
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Do I Need A Deposit?

The short answer is NO; a deposit is not required, in most case, we can help you find a suitable finance arrangement that is specific to your need without a deposit. However, having a deposit can help you in the long run. By having a deposit, it will decrease the overall amount you need to borrow, meaning you will pay less on your repayments, costing you less to borrow, in some cases, it will potentially increase your chances for approval.

Here at U Car Finance, we do our best to get everyone approved. We have a panel of lenders who specialise in car finance, Lenders and dealers are often limited by the financial products they have on offer, however with U Car Finance; we have 100’s of financial products to suit your car finance needs, especially those with a Good Credit. Although we cannot guarantee you car finance, we welcome individuals with Good Credit, Bad Credit, Poor Credit, self-employed, CCJ’s or IVAs; we consider all our applicants on an individual case by case basis, this way we are able to take all small personal factors into consideration when making a decision.

If you have a vehicle you would like to part exchange, or you have a vehicle on finance, and you would like to upgrade your vehicle, we can help you. Use our part exchange program within the account area to see how much you could get for your current vehicle.

What if I Have Poor Credit?

Having poor credit doesn’t mean you will be refused for car finance. With U Car Finance, we can help you find you the best suitable deal for your specific need; we have a panel of lenders who specialises in less than poor credit car finance. If you are currently in a position, where you have been refused few times even with an initial deposit because of your poor credit history, consider taking out a guarantor loan or applying as a joint applicant. This will improve your chances for approval.

Use our finance calculator to see what you could borrow today; our finance calculator can give an idea on your monthly repayments based on your credit rating. Alternatively, you can call 0330 445 5505 and talk to one of our friendly members of staff who will help you with any queries.

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U Car FInance
U Car Finance is one of the leading UK Car Finance Brokers, we are dedicated to giving our customers the best service as possible. We accept people who have been refused elsewhere, people with good credit, bad credit and people with no credit history at all.

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U Car Finance
208 Victoria Street (Ground Floor)
Oldham, OL9 0DA
United Kingdom

Opening Times
Mon-Fri: 9.00 am - 7.00 pm
Saturday: 9.00 am - 5.00 pm
Sunday: Closed

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Phone : 0330 223 4384
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