Customers often need to make a down payment, even if they buy a car on an installment plan. This initial deposit amount can sometimes be quite high and must be paid in one go, which can discourage people from making the purchase. Luckily, there are a few ways to get a car without a down payment and save money, such as car rental plans, manufacturer financing, festive season deals, and zero-down-payment auto loans.

1. Opt for zero-down-payment car rentals
Many rental companies offer special plans to their clients to help them get a car without paying a deposit upfront. There are several benefits to such car rental plans. For example, renting companies might offer customers their vehicles for flexible periods, like a week, a month, or a specific number of days. Customers can also cancel their subscriptions whenever they want, in case the vehicle is no longer needed. That said, one should research the car rental company before signing up. Individuals should ensure they are transparent and do not charge any hidden registration costs, maintenance costs, or insurance expenses.

2. Consider manufacturer financing
There are many car manufacturers in the country. So, they are all under tremendous pressure to attract customers and sell as many vehicles as possible. To stay ahead of the competition, manufacturers often roll out lucrative financing options, such as zero-down payment plans and low-interest installments. Sometimes, even buyers with poor creditworthiness or credit scores can access these offers. Besides rolling out financing plans, manufacturers go the extra mile to simplify the car-buying process as much as possible and increase sales. Customers can avail of these benefits and get the car they want at a lower price, saving money.

3. Improve the credit score
Creditworthiness is a major factor affecting a person’s chances of qualifying for car financing offers. Most dealerships that sell cars without charging a down payment first check the customer’s creditworthiness, or how diligent the individual has been in repaying their past loans to lenders. Since a credit score is a quantifiable measure of one’s creditworthiness, one should try to improve this score before buying a car. There are several ways to do this, such as reviewing one’s credit reports, clearing off existing debts, and limiting new credit applications.  After improving their credit score, individuals are more likely to be eligible for the best financing options from lenders and dealerships.

4. Look for zero-down-payment deals during festive occasions
Oktoberfest, the Cologne Carnival, the Festival of Lights, and other special occasions bring excellent deals on several products, including automobiles. They are a golden opportunity for car buyers to save money and get the model they want for a low price. During special occasions, carmakers and dealers go all out to offer the best financing options on their vehicles and sell as many units as possible. Many such offers come with the zero-down-payment feature, meaning buyers do not need to pay a hefty deposit upfront. One can simply start paying the installment amounts along with the attached interest money for a specified period until the total cost of the car is eventually covered.

One should note that sellers often check the customers’ credit score requirements before qualifying them for such financing options during festivals. Those with poor credit scores should look for sellers that let customers purchase a car in installments without a credit check. When sellers do not check credit scores, they may charge higher interest on the repayment installments, even during major festivals and holidays.

5. Get a zero-down-payment car loan
Car loans are incredibly useful for buying a vehicle. One can use them to buy the car in one go and then repay the borrowed money in steady installments. Of course, like other types of loans, an interest amount is attached to the installments. When one takes a car loan, the vehicle one buys acts as the guarantee of the loan. This means that people who fail to repay the amount will lose the vehicle’s ownership. The bank seizes the car and retains it in its possession. Also, the credit score requirements for car loans tend to be on the higher side. But the biggest benefit of taking a car loan is that people get full ownership of the vehicle at the end of the loan repayment term.

6. Rent a car without a credit check
Car leasing and renting are popular options for people who do not intend to own a vehicle and need it only for specific occasions, such as family getaways and ceremonies. Many car rental companies allow people to rent a car using their debit card without running a credit check while charging a low amount upfront. Such plans are usually available near airports. To qualify, clients must show the rental company representatives their ticketed return travel itinerary. People seeking such rented cars without having to undergo a credit check can contact the customer service departments of various car rental companies. When signing up, one should inquire about the terms of using the car and check for any hidden charges to avoid disappointment later and get the best deal.