Your Car Finance options
Choose from Fixed Car Finance (hire purchase) or Flex Car Finance (personal contract purchase) and pay for your car the best way for you. You can find more about how each product works further down the page.
Already got a car on finance, but want to switch providers?
Moving to our Fixed Car Finance could also help you lower your monthly repayments without changing your car, or pay your final lump sum over an affordable term.
Fixed Car Finance (HP)
- No credit check needed.
- 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.
Flex Car Finance (PCP)
- No credit check needed.
- Lower monthly repayments.
- 1-4 year terms available.
- Own the car by paying a final lump sum, or return it.
- No early repayment charges.
- Yearly mileage limits
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Car Finance is available on personal cars only. Most UK dealerships are covered. Finance isn’t available for commercial vehicles or purchases from private sellers.
You can get as many personalised quotes as you like, and apply once you’ve found the right car and confirmed the price with the dealer. If you’re 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 isn’t available with our car finance, but you might be able to arrange this with the dealer you’re 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’re:
- 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
How is it different to 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’ll own the car as soon as you pay the dealer/seller.
With car finance, the money’s sent directly to the dealer, or the company you have your exiting agreement with, rather than your current account. You can’t borrow more than you need for the car or finance settlement amount. You don’t own the car until you’ve finished repaying the finance.
Other borrowing options are also available.
Important legal information
Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).