Your Car Finance options

If you’re looking to spread the cost of a new car, or switch existing car finance from another lender, our car finance options could help. Eligible customers with an existing current account, can get a personalised quote by logging on to Internet Banking. Getting an online quote will not affect your credit score. This means you can get a few quotes with different amounts or terms to help you find your ideal car. 

Personal Contract Purchase (PCP)

  • 7.9% APR representative when you borrow between £7,000 and £25,000. 
  • 1-4 year terms available
  • Own the car by paying a final lump sum, or return it (return conditions apply)
  • No early repayment charges
  • Funds are sent directly to the car dealership
  • Yearly mileage limits
  • Borrowing from £3,000 to £60,000 available
Get a PCP quote

Hire Purchase (HP)

  • 6.3% APR representative when you borrow between £7,000 and £25,000. 
  • Fixed monthly repayments
  • 1-5 year terms available
  • Own the car when the agreement ends
  • No early repayment charges or final lump sum
  • Funds are sent directly to the car dealerships
  • Borrowing from £3,000 to £60,000 available
Get a HP quote

Car Refinance

See if you can save or help pay a final lump sum by switching your car finance with another provider to us.

  • Switch existing HP or PCP finance
  • Online quotes and approval
  • Choose to switch to HP or PCP with fixed monthly repayments.
  • Keep your current car
  • No early repayment charges on our finance
  • Funds are sent directly to the finance provider
More about car refinance

We now offer Car Leasing

A long-term rental of a brand new car, paying the same amount each month and hand the car back at the end.

  • Choose from thousands of brand-new cars from more than 30 manufacturers
  • Fixed monthly payments
  • 2-5 year terms available
  • No option to own the vehicle
  • You set the yearly mileage limit
  • Option to include a maintenance and breakdown package

Leasing is exclusively provided by Lex Autolease Limited. Lloyds Bank plc act as a credit broker not the lender.

Get a Car Leasing quote

Other terms, borrowing amounts and rates are available.

Compare your car finance options

Compare your car finance options

Comparing your car finance is simple. For HP and PCP, use our comparison tool to discover the right finance option for you. Get started today.

Compare car finance

Before you decide the finance, have you thought about going electric?

Before you decide the finance, have you thought about going electric?

EV technology and charging infrastructure has improved over time and is getting better. So in many cases, making your next car an EV could make sense.

To help you decide if going electric is right for you, we have a suitability tool and details about a key services bundle you could access if you go on to buy an EV.

Find out more about EVs

Am I eligible for car finance?

You can apply for car finance if:

  • you have a Lloyds Bank current account (minimum 3 months)
  • you are registered for Internet Banking
  • you are aged 18 or over and a UK resident.

Credit is subject to status and additional affordability checks.

Get a quote

Car finance calculator

You can use our illustrative calculator to help you understand the monthly cost of our HP and PCP car finance products.

Eligible existing current account customers can get a quote that is more accurate and personalised by logging on to Internet Banking.


Car finance calculator

How does car finance work?

  1. Choose one of our car finance options – HP, PCP or refinance.
  2. Enter some details about you and the car you want to buy.
  3. If you’re approved, we’ll pay the car dealership or current finance provider.
  4. You make fixed monthly repayments until the end of your agreement.
  5. Enjoy your new wheels!

How is HP and PCP different to a loan?

With a loan, money is sent to your current account, and you pay the dealer, seller or current finance provider.  You’ll own the car once you pay the dealer or seller.

With HP and PCP car finance, the money is sent straight to the dealer, or the company you have your existing agreement with. You don’t own the car until you’ve finished repaying the finance.

Compare loans and finance

Other borrowing options are also available

Frequently Asked Questions

  • The amount you can borrow will depend on several factors, such as your:

    • Credit score.
    • Budget.
    • Monthly incomings and outgoings.
    • Chosen car.
    • Choice of product (HP or PCP).

    Only borrow what you can afford to pay back, alongside your other essential outgoings. You can use our car finance calculator to get an idea of what you might be able to borrow. Or you can log in to get a personalised quote.

  • What you need when you apply to finance a new or used car can vary between lenders, but can include:

    • The registration number for the car you’re buying.
    • Current mileage on the car.
    • An estimate of how many miles you expect to drive each year.
    • The total price of the car and deposit.
    • The dealership’s information, including their name, post code and bank details.
    • Your own financial details, including your monthly income and regular outgoings, such as debts and other financial commitments.
  • You have to be an existing Lloyds Bank current account holder to apply for car finance. This allows you to make as many applications online as you like. This will have no impact on your credit score. 

    If you miss any repayments, this could have a negative impact on your credit score. If you don’t miss any repayments, then over time it could have a positive effect on your credit score.


  • We work with most UK dealerships. Once you’re logged on to Internet Banking, you can search by your location or postcode to find out which dealers we work with at the moment.

    We can’t currently accept car finance quotes from Cazoo, Cinch or Motorpoint. If you are buying a car through one of these companies, we may be able to offer you a personal loan to buy the car outright instead. Read more about our car loans.


  • You can use our car finance for new and used cars. There are some restrictions on the make/model, age and mileage of the car. Once you enter the details of the car you want to buy, we’ll tell you if our finance is available for that car.

    We don’t offer finance for commercial vehicles, motorcycles, caravans or motorhomes. Other limitations based on the vehicle may apply.

    We don’t currently offer part exchange as part of our car finance.  But you may be able to arrange a part exchange with the dealership.


See our full list of frequently asked questions for more help on car finance.

Lloyds Car Insurance

Get cover you can rely on with one of our insurance policies. And for added peace of mind you can choose from a range of optional extras.

Find out more and get an online quote

Existing customers

Take greater control of your Lloyds Bank online car finance account in just 3 simple steps.

Related products

Money worries?

If you are struggling to make payments, we’re here to help. We have options available if you think your money worries might be long term.

You can  visit our money worries page to find the support that could be right for you.

Money worries

Contact us

If you’d like to speak to us over the phone, our UK-based team are here to help.

We can discuss your specific car finance needs, make changes to your account and answer any queries you may have.

Contact us