How much deposit do I need for a car loan?
Often none at all. Many lenders offer no deposit finance, though putting some money in lowers your payments and can help approval.
There is no fixed deposit you must have. Plenty of our lenders offer no deposit car finance, where the full price of the car is covered by the loan.
That said, a deposit has real benefits. It lowers how much you borrow, which means smaller repayments and less interest over the loan term. It can also make a lender more comfortable, especially if your credit is not strong.
Even 500 or 1,000 dollars, or the trade-in value of your current car, can make a difference. It also reduces the chance of ending up in negative equity early on.
Try the repayment calculator to see how a deposit changes your payments, then get your fair rate.
See your repayments, then get a fair rate.
One application, one soft credit check, no obligation. We match you to the lender most likely to give you a fair go.