No Deposit Car Loans. 100% Finance, Done Properly

A no deposit car loan, also known as 100% finance or zero deposit car finance, allows you to borrow the entire purchase price of a vehicle without putting any money down upfront. This makes car ownership accessible even if you haven't had the chance to save a deposit.

At Simple Loans, we compare no deposit car loan options from over 50 banks and specialist lenders across Australia. Whether you're buying a new car from a dealership, a used vehicle from a private seller, or upgrading your current ride, we find the right no deposit finance solution for your budget and circumstances.

Eligibility still depends on income, the vehicle and responsible lending. Generally you will need:

• Stable, verifiable income
• Australian residency or a visa the lender accepts
• To be at least 18 years old
• A vehicle the lender will take as security

Past credit issues do not automatically rule you out. We match you to a lender that writes this structure rather than advertising zero down and declining at assessment.

Borrowing the full purchase price is convenient, but it is not free. A no deposit loan usually attracts a higher rate than the same loan with 10 to 20 per cent down, and you pay interest on a larger balance for the whole term.

You are also more likely to be in negative equity early on. If you can put even a small amount down, or trade in an existing vehicle, it usually reduces both your rate and your total interest. If you cannot, a no deposit loan is still a legitimate option. Pick a term that keeps the repayment comfortable rather than the longest term available.

Every loan we arrange is regulated credit. Simple Loans holds an Australian Credit Licence and is a member of the Australian Financial Complaints Authority. You are entitled to a written preliminary assessment on request, to hardship consideration if your circumstances change, and to free external dispute resolution through AFCA.

This page is general information and does not take your personal circumstances into account.

• Usually covered: the vehicle purchase price from a dealer or private seller.
• Sometimes covered: on road costs, stamp duty, registration transfer, extended warranty and insurance products, depending on the lender and the vehicle's valuation.
• Rarely covered: anything that pushes the loan well above the vehicle's market value, since most lenders cap lending at a percentage of valuation.

Ask what your loan amount actually includes before you sign. A quote that covers the car but not the on road costs still leaves you needing cash at settlement.