Introduction
The deposit is often the hardest part of buying a car on finance. Saving a lump sum takes time, and a small deposit means higher monthly payments.
Until 31 October 2026, Car Planet will add £500 to your deposit on more than 160 quality used cars. Here's how the offer works, what it means for your finance, which cars are included and how to claim it.
Summary:
- We add £500 to your deposit. Available on 160+ selected cars at Car Planet Barnet and Watford.
- It works with finance. A bigger deposit means you borrow less on HP or PCP.
- Borrowing less can lower your payments. It can also reduce the total interest you pay.
- Many offer cars are already reduced. Savings of up to £4,850 on top of the £500.
- Ends 31 October 2026. Finance is subject to status and affordability checks.
What Is the £500 Deposit Offer?
When you buy an eligible car on finance, Car Planet contributes £500 towards your deposit. You put down your own deposit as normal and we add £500 on top.
The offer covers a handpicked range of premium used cars, including SUVs, coupes and convertibles from BMW, Audi, Volkswagen, Ford and more. Every car is quality-checked before sale, and many are already priced below their original asking price.
How a Deposit Works on Car Finance
A deposit is the amount paid upfront. The rest of the car's price is borrowed and repaid in monthly instalments.
- Hire Purchase (HP): Pay a deposit, then fixed monthly payments. The car is yours once the final payment is made.
- Personal Contract Purchase (PCP): Pay a deposit, then lower monthly payments. At the end, pay the optional final payment, part exchange or hand the car back.
With either option, a bigger deposit means a smaller loan. A smaller loan usually means lower monthly payments and less interest overall. The used car finance guide explains each option in more detail.
What Does £500 Off Your Deposit Mean in Practice?
On a £16,450 car over 60 months, an extra £500 deposit cuts the monthly payment by about £11 and the total cost by about £670.
| Without offer | With £500 offer | |
|---|---|---|
| Cash price | £16,450 | £16,450 |
| Your deposit | £1,645 | £1,645 |
| Car Planet contribution | £0 | £500 |
| Amount borrowed | £14,805 | £14,305 |
| Monthly payment (60 months) | approx. £331 | approx. £319 |
| Total you pay | approx. £21,494 | approx. £20,824 |
Illustrative only, based on our representative example (Conditional Sale, 6.8% fixed rate, 12.9% APR representative, 60 months). Your rate and payments depend on your circumstances and lender approval.
Which Cars Are Eligible?
More than 160 cars across our Barnet and Watford sites are included. Each one is marked "£500 Deposit on us" and "£500 Finance Contribution" in our listings.
Some examples from the range:
| Car | Year | Mileage | Price | Saving | From |
|---|---|---|---|---|---|
| BMW 4 Series M440d xDrive Convertible | 2022 | 18,351 miles | £34,150 | £3,500 | £597/month |
| BMW X5 M50d xDrive | 2017 | 49,225 miles | £26,200 | £3,100 | £527/month |
| Ford Kuga 2.5 ST-Line X PHEV | 2024 | 6,058 miles | £25,850 | £4,850 | £457/month |
| BMW Z4 sDrive30i M Sport | 2020 | 17,683 miles | £25,750 | £2,200 | £450/month |
| Volkswagen Tiguan 2.0 TDI R-Line | 2023 | 16,974 miles | £25,000 | £2,700 | £440/month |
| Audi Q5 40 TDI S line quattro | 2023 | 36,773 miles | £24,950 | £4,150 | £404/month |
Prices, savings and monthly figures correct at time of writing and subject to change. Stock changes daily.
How to Claim the £500
- Check your eligibility. Use our free soft credit check. It takes about 60 seconds and has no impact on your credit score.
- Choose an eligible car. Look for the "£500 Deposit on us" badge online, or visit us in Barnet or Watford.
- Pick HP or PCP. Our team will explain the options and show you the figures with the £500 included.
- Sign and drive away before 31 October 2026. Once approved, sign your agreement and collect your car, often the same day.
What to Check Before You Buy
- Affordability: Make sure the monthly payment fits your budget for the whole term.
- Total amount payable: Compare the full cost, not just the monthly figure.
- PCP final payment and mileage: Check the optional final payment and any mileage limit.
- History: A used car history check flags outstanding finance, write-offs and mileage issues.
- Warranty: Decide whether extra cover is right for the car. Our guide Is a Used Car Warranty Worth It? explains what to look for.
Conclusion
A bigger deposit is one of the simplest ways to make finance more affordable. With £500 added on top of already reduced prices, you borrow less from day one.
The offer ends on 31 October 2026. Check your eligibility, choose your car and talk to our team in Barnet or Watford.
Frequently Asked Questions
How does the £500 deposit offer work?
When you buy an eligible car on finance, Car Planet adds £500 to your deposit. This reduces the amount you borrow.
When does the offer end?
The offer ends on 31 October 2026.
How do I know if a car is eligible?
Eligible cars carry a "£500 Deposit on us" badge in our listings. You can see them all on one page.
Does the offer work with PCP and HP?
Yes. The £500 is added to your deposit on either HP or PCP, subject to status and lender approval.
Can I use the offer if I pay cash?
The £500 is a finance contribution, so it applies to cars bought on finance.
Will checking my eligibility affect my credit score?
No. Our soft credit check gives an indication in about 60 seconds with no impact on your credit score.
Finance subject to status, terms and conditions apply. UK residents aged 18 and over only. £500 deposit contribution available on selected vehicles bought on finance and ordered by 31 October 2026.
