The situation
Some lenders will finance a van with no deposit at all, but it comes at a cost: a larger amount borrowed means higher monthly payments and more interest paid over the term, and lenders often price no-deposit applications at a higher representative APR to offset the added risk. It's genuinely useful if you need a van now and can't spare cash up front, but it's rarely the cheapest way to finance one.
What tends to help
- Even a small deposit — 5% rather than 0% — can noticeably reduce your monthly payment and the APR you're offered.
- Run the numbers on the HP calculator with and without a deposit so you can see the real difference before applying.
- Part-exchanging an existing vehicle can effectively act as a deposit without needing cash up front.
- Expect closer scrutiny of affordability on no-deposit applications, since the lender is taking on more risk from day one.
Lenders worth checking
Based on published eligibility criteria and lender positioning — always check current terms directly, as criteria change.