Can You Buy a Car When You Have £0 Saved?
28 October 2026
You've looked at Auto Trader. You've found a car that suits your needs. The problem is that you don't have the money to pay for it upfront.
If you need a car for commuting, family life or getting between home and base, waiting until you've saved the full amount might not feel practical. Borrowing could help you spread the cost, but it's important to understand how the different options work before committing.
In this guide, we'll walk through the main ways to finance a car, what to compare, and how to make a more informed decision.
What are your options for buying a car with no savings?
If you don't have money set aside for a car, there are several ways you might be able to finance one. Availability depends on the lender, the agreement, and your eligibility.
| Finance option | How it usually works | When do you own the car? |
|---|---|---|
| Hire purchase (HP) | Usually an upfront deposit followed by monthly payments. Some agreements may be available without a deposit. | Generally, after all required payments and any final fees are paid. |
| Personal contract purchase (PCP) | Monthly payments, often with a larger optional final payment if you want to own the car. | Usually only if you make the final payment and meet the agreement's terms. |
| Personal car loan | Borrow a set amount from a lender and repay it in instalments. | With an unsecured personal loan, you generally own the car from the point of purchase. |
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