Car Finance

Whether you have found your next vehicle, are still doing your sums, or want to switch your existing agreement for a better rate, see how our car finance options could help.

Your borrowing options

You can apply for Car Finance if you’re 18 or older, a UK resident and have had a current account with us for at least 3 months.
Credit is subject to status and additional affordability checks.

Personal Contract Purchase (PCP)

  • 7.4% APR representative when you borrow between £7,000 and £25,000. 
  • 1 to 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.If you've exceeded the agreed mileage allowance on return of the car, you'll need to pay an excess mileage charge. You can avoid this by agreeing a realistic mileage at the outset.
  • Borrowing from £3,000 to £60,000 available.
  • Once your application is agreed and you’ve signed the legal documents online, we transfer the finance amount direct to the dealership the same day. 
Get a PCP quote

Hire Purchase (HP)

  • 6.2% APR representative when you borrow between £7,000 and £25,000. 
  • Fixed monthly repayments.
  • 1 to 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.
  • Once your application is agreed and you’ve signed the legal documents online, we transfer the finance amount direct to the dealership the same day. 
Get a HP quote

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 to 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

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.
  • Once your application is agreed and you’ve signed the legal documents online, we transfer the finance amount direct to your current finance provider the same day. 
More about car refinance
 

Not sure about the differences between PCP and HP?

To find out more, watch a short video that explains it (1 min 52 secs).

 

Get a quote for car finance

You can apply if you’re 18 or older, a UK resident and have had a current account with us for at least 3 months.

Credit is subject to status and additional affordability checks.
 

 

It's simple in the app

Scan the QR code to get it.

You must be registered for online banking to apply in the app.

Once you're in, select Apply, Loans and Car finance, then Car finance.

Or you can register on our website.

Already bank online?

We'll take you to the right place to get started.

Log in to get a quote

It's simple in the app

You must be registered for online banking to apply in the app.

Once you're in, select Apply, Loans and Car finance, then Car finance.

Get the app

Or you can register on our website.

Already bank online?

We'll take you to the right place to get started.

Log in to get a quote

Explore your options

We want to make sure you know about our car options. Here’s some that might suit you.

Car insurance

Choose either Gold or Silver, both fully-comprehensive options, and get cover you can manage online.

Compare car insurance

Car loans

With a personal loan, you can choose to buy your car from a dealer or private seller, and you could have some money left over afterwards.

Learn about car loans

Let’s look at the details

  • 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 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. View our approved dealer list to see which car dealerships we work with.

    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.

You may also like

Thought about going electric?

To help decide if going electric is right for you, check out our suitability tool.

Find out more about electric vehicles

Car Finance calculator

Use our handy car finance calculator to work out how much you might pay each month on PCP or HP plans.

Finance calculator

Car Finance help and guidance

Read our handy guides and frequently asked questions.

Car finance help

Important legal information

Important information: to apply, you must be age 18 or over, a UK resident, hold a current account with us (min 3 months) and registered for Internet Banking. We can't refinance cars from existing Lloyds Bank customers.

When we transfer the finance amount directly to the dealership, we normally do this on the same day. The money could be in their account in a few hours. Payments made after 2.30pm will be received before 12pm the following day.

Lending is subject to status and additional affordability checks.

Other terms, borrowing amounts and rates are available.