What deposit is usually needed for used-car finance in Teesside?

• A 10% deposit is a common starting point for many HP and PCP agreements on used cars.
• Putting down a larger deposit usually reduces your monthly payments and the amount of interest you pay overall.
• Some finance providers offer low or zero-deposit options, but these often come with stricter criteria or higher monthly payments.
• Your credit history, income and the price of the car all influence the deposit a lender may ask for.
• Deal Drive Motors can help you explore different deposit and monthly payment combinations to suit your budget.

Car finance lenders like to see that you have some money to put towards the car, because it reduces their risk and shows commitment. That's why many used-car finance offers are built around a deposit of roughly 10% of the vehicle price.

Examples:

• Car price £5,000 → typical deposit around £500.
• Car price £8,000 → typical deposit around £800.
• Car price £10,000 → typical deposit around £1,000.

However, there is no single rule. Some drivers prefer to:

• Pay a larger deposit (for example 15–20%) to keep their monthly payment as low as possible.
• Look for no-deposit deals and accept a higher monthly payment instead.

The right choice depends on your savings, your monthly budget and your credit profile. When you apply for finance through Deal Drive Motors, we can show how changing the deposit amount affects your monthly payments and the total you will repay over the term.