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Your Car Finance options
Choose your car finance option, either Personal Contract Purchase (PCP), Hire Purchase (HP), Car Leasing or Refinance and pay for your car the best way for you.
Personal Contract Purchase (PCP)
Lower monthly repayments with the option to keep or return your car at the end of the contract.
- 7.9% APR representative when you borrow between £7,000 to £25,000.Â
- Borrowing from £3,000 to £60,000 available
- 1-4 year terms available.
- Own the car by paying a final lump sum, or return it.
- No early repayment charges.
- Yearly mileage limits.If you have exceeded the agreed mileage allowance on return of the car, you will need to pay an excess mileage charge. You can avoid this by agreeing a realistic mileage at the outset.
- Funds are sent directly to the dealer.
- 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.Â
Other terms, borrowing amounts and rates are available.
Hire Purchase (HP)
With no final lump sum, you own the car once the agreement ends.
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- 5.9% APR representative when you borrow between £7,000 to £25,000.
- Borrowing from £3,000 to £60,000 available
- Fixed monthly repayments.
- 1-5 year terms available.
- Own the car when the agreement ends.
- No early repayment charges or final lump sum.
- Can also be used to transfer existing car finance.
- Funds are sent directly to the dealer.
- 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.Â
Other terms, borrowing amounts and rates are available.
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 over 4,000 brand-new cars from more than 30 manufacturers
- Fixed monthly repayments
- 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.
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.Â
Important information: to take car finance with us, you'll need to be aged 18 or over, a UK resident, hold a current account with us (min 3 months) and be registered for Internet Banking.
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.
Let’s look at the details
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Car Finance is available on personal cars only. Most UK dealerships are covered. Finance is not available for commercial vehicles or purchases from private sellers.
You can get as many personalised quotes as you like, and apply once you have found the right car and confirmed the price with the dealer. If you are settling other finance, please get the settlement figureWhat’s a settlement figure and how do I get one?This is the exact amount needed to end the agreement you have with your current finance provider. You’ll need to get in touch with your current finance provider and ask them to send this to you. from your current finance provider beforehand.
Part-exchange is not available with our car finance, but you might be able to arrange this with the dealer you are buying your car from. You could also sell your car privately and use the proceeds as a deposit for your new car.
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During the application, we’ll need:
- Dealer or finance provider’s name and postcode.
- Car registration number.
- Current and expected yearly mileage.
- Total price and deposit amount.
- Your monthly income.
- Your mortgage/rent payments and regular spending.
- Existing car finance details (if you have any).
For new cars, we’ll also need:
- The delivery date.
- Full vehicle details if you don’t know the registration yet.
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You’ll be given a decision straight away, which is valid for 90 days.
You’ll need to provide the dealer’s or existing finance provider’s bank details, so we can transfer the money after you’ve signed the paperwork. It might take a few hours for this to go through. Payments made after 3.30pm will be with them before 12pm the next working day (Mon-Fri).
There’s no obligation to go ahead after you’ve been accepted, and your credit rating won’t be affected if you change your mind.
You can apply if you are:
- an existing Lloyds Bank main Personal Current Account holder (minimum 3 months)
- registered for Internet Banking
- aged 18 or over
- a UK resident.
Credit is subject to status and additional affordability checks.
Car Finance in 3 easy steps
1. Check out your options
Choose how much to borrow and find the repayment term to match your budget.
2. Get an instant decision
Apply online in a few minutes to get an answer on the spot.
3. Just sign and go
We pay the dealer or existing car finance provider direct, so you can get on your way.
How is it different from a loan?
With a loan, money is sent to your current account and you pay the dealer, seller or current finance provider yourself. You can choose the amount and term you want to borrow the money over. You will own the car as soon as you pay the dealer/seller.
With car finance, the money is sent directly to the dealer, or the company you have your exiting agreement with, rather than your current account. You can not borrow more than you need for the car or finance settlement amount. You don not own the car until you have finished repaying the finance.
Other borrowing options are also available.
Understanding credit
When you borrow money, lenders may do a credit check on you and it may impact your credit score. We’ve made a range of guides about credit, including how to improve your score, what a ‘good’ credit score is, and more.
Help and guidance
Existing customers
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