All Collections
Car loan
Do I need to have a deposit before I apply?
Do I need to have a deposit before I apply?

Common car loan questions

Monisha Begum avatar
Written by Monisha Begum
Updated over a week ago

No, you can apply to borrow the full amount you need to purchase the vehicle, as well as any related costs such as on-road costs or insurance, if you wish.

Consider only borrowing what you need, as if you’ve managed to save some money toward the cost of purchasing a vehicle, this could mean you need to borrow less. And the less you borrow, the sooner you can pay off the loan and the less interest you’ll need to pay.

Did this answer your question?