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No Deposit Car Finance

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Monthly repayment from


Example interest rate

9.20 %

Comparison rate*

10.58 %

Total charges


Total repayments


Disclaimer: This calculator provides an estimate only and a comparison rate based on the example information provided. Other fees, costs and charges are not included. This calculation is not an offer for credit. The amount you can borrow may vary once you complete a loan application and all the details relevant to our lending criteria are captured and verified. The interest rate for this product is variable and subject to change. Any calculations made by you using this calculator is intended as a guide only.

No Deposit Car Finance

Not everyone can afford to pay the full price of a brand new car upfront or even have enough cash on-hand to buy a used one, so it’s normal to look for affordable car finance options, such as a no deposit car finance service. Getting a car, whether new or used, is costly and that is why car loan lenders, like MONEYME, provide people with different financing solutions that suit their needs to buy their dream car. 

When choosing the best way to finance a car, many people get a private car loan or a second-hand car loan which are both ideal as long as they have enough cash to pay for the downpayment. However, some people are not keen on the idea of having to wait until they have saved up enough money to pay for the car’s downpayment or disrupt their current cash flow just to make a deposit for their new car. If you are planning to apply for a loan to buy a car and don’t want to deal with multiple lenders, then consider a ‘no deposit car finance’ option.

What is a no deposit car finance?

The format that most vehicle finance deals are based on is that the borrower will pay for the car’s downpayment, which is ideally ten to twenty per cent of the total car value, and loan the remainder of the amount. A ‘no deposit car finance’ deal works exactly as it sounds. You don’t have to make a downpayment or a deposit to buy the car you want. Simply put, you can just loan the full amount of the car so you can pay for it monthly instead of paying a large sum at the beginning. 

The primary advantage of a ‘no deposit car finance’ is that you don’t have to take hard-earned money from your savings account to purchase the asset that you want. You can keep your funds untouched so you can enjoy a buffer zone in case you need it in the future. Another benefit that no deposit car finance offers is that it won’t disrupt your current cash flow. Some people take the deposit for their new car from their credit accounts which not only incur higher interest rates and risk but also make the process a hassle since it already involves an additional lender. With a no deposit car finance loan, you can access the entire amount you need from one lender making your loan convenient to process and easy to track. 

The downside, however, is that you would have to deal with higher monthly repayments. Because of this, getting a ‘no deposit car loan application’ approved is more tedious than regular car loans but, as long as you present the requirements and apply for it through a reliable money lender, your chances of getting approved can be pretty good.

How to get car finance with no deposit?

Because ‘no deposit car finance’ services are larger in sum than other car finance offers, the primary basis for lenders, like banks, to get your application approved is your credit score and overall creditworthiness. These factors show lenders that your cash flow is steady and your income source is reliable enough for you to afford your monthly repayment fees. 

To have a higher chance of being qualified to get a loan for ‘no deposit finance cars’, it is important to take steps to improve your credit rating – not just before but during your loan application as well. Some ways you can improve your credit score in Australia are paying your bills on time, never missing your credit card due dates, lowering your credit card limit, and limiting the applications you make on credit. A strong credit profile can put you in a positive light to get your loan approved faster. 

How long does it take to get car finance with no deposit?

Vehicle loans can take anywhere from a day to a week to get approved. No deposit car loans may take slightly longer than a car loan with a deposit since the size of the loan will be bigger. Lenders also need to collate multiple factors such as the applicants’ current credit score, credit history, and overall credit profile along with other requisites for the car loan application hence, making the process more tedious. The lender you choose to go about this process with also plays a vital role in the overall duration of your car loan application.

If you want a fast and hassle-free application for a no deposit car loan, MONEYME is the best choice. MONEYME, a top-trusted digital lender, can cater to anyone in Australia as we’ve made the application process that much more accessible. You can get $5,000 to $50,000 and enjoy flexible repayments between one to five-year terms. More than that, MONEYME works efficiently to help you get your loan secured within minutes compared to the week-long approval duration that most lenders can provide. You can get the money in as little as twenty-four hours so you don’t have to wait longer to drive your new car home. 

Apply for a ‘no deposit car finance’ loan conveniently from anywhere you are with MONEYME! Use our website or app, available both on iOS and Android, to send your application and take a step closer to finally getting that dream car of yours.

Our customers

No Deposit Car Finance

Fast, fair and easy. Very happy customer. Happy to get another loan in the future from MONEYME.

Simple process, easy to follow application, quick response time and good support.

I was impressed with how easy and quick the application was. Very happy with their customer service, and the app is very convenient.


Review Stars Out of 2,701 reviews

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Transparent and
simple pricing

Interest rate

9.20 %
to 25.20 %

Comparison rate*

10.58 %
to 26.58 %

Establishment fee
(Direct applications)

$395 for loans between $5,000 and $15,000

$495 for loans between $15,001 and $50,000

Monthly fee


Loan terms

Minimum 3 years

Maximum 5 years

Early exit fees


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