100% Finance
No Deposit Car Loans from 5.99% p.a.
Comparison rate 6.85% p.a.* on a $30,000 secured no-deposit loan over 5 years.
No Deposit Car Loan Calculator
100% financing — full purchase price
Loan Amount
$35,000
$5,000$100,000
Interest Rate (p.a.)
6.99%
5.00%15.00%
Loan Term
5 years
1 years 7 years
Monthly Payment
$692.88
Total Interest
$6,573
Total Repayment
$41,573
Principal (84.2%)Interest (15.8%)
Principal: $35,000
Interest: $6,573
This calculator provides estimates only. Actual rates and repayments may vary based on your circumstances and lender requirements.
No Deposit Car Loans at a Glance
- Borrow 100% of the vehicle purchase price with no upfront cash needed
- Some lenders also finance on-road costs (stamp duty, rego, CTP) — true drive-away finance
- Best rates from 5.99% p.a. for borrowers with good credit buying newer vehicles
- Available for new and used cars, though newer vehicles qualify for the best terms
- Consider gap insurance to protect against negative equity in the early years of the loan
WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees, or other loan amounts might result in a different comparison rate. Comparison rates are based on a secured loan of $30,000 over 5 years for vehicle finance and $50,000 over 5 years for equipment finance, as required under the National Credit Code.
No Deposit Car Loan FAQs
Can I really get a car loan with no deposit?
Yes. Many lenders on our panel offer 100% financing, meaning you can borrow the full purchase price of the vehicle without any upfront payment. Some lenders will even finance on-road costs like stamp duty, registration, and insurance. Eligibility depends on your credit history, income, and the age and value of the vehicle.
Will I pay a higher rate with no deposit?
Not necessarily. For borrowers with good credit purchasing newer vehicles, no-deposit rates can be the same as standard rates. However, for used cars, older vehicles, or borrowers with credit issues, some lenders may apply a small rate premium (0.25-0.50%) for 100% financing because the loan-to-value ratio is higher.
What are the risks of a no deposit car loan?
The main risk is negative equity — owing more on the loan than the car is worth. Cars depreciate fastest in the first 1-2 years. With no deposit, you start with a loan balance equal to the full car value, and depreciation can put you "underwater" quickly. If you need to sell or the car is written off, you may owe more than the car is worth.
Can I get no deposit finance for a used car?
Yes, though options narrow for older vehicles. Most lenders offering no-deposit finance prefer used cars under 5 years old for 100% financing. For vehicles 5-10 years old, some lenders will still offer no-deposit but may require stronger income and credit. Cars over 10 years old typically require at least a small deposit.
What credit score do I need for a no deposit car loan?
For the best no-deposit rates, a credit score above 600 (Equifax) is generally needed. Some specialist lenders offer no-deposit loans to borrowers with lower scores, but rates will be higher. If your credit is impaired, providing even a small deposit of 5-10% can significantly improve your approval chances and rate.