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Buying a Car

Looking to buy a car? Our Personal Loan could help you buy your first car, upgrade to a better model or buy the classic car of your dreams.

Features and benefits

  • You could receive a rate as low as 3.9% APR RepresentativeCloseAPRAPR stands for the Annual Percentage Rate of charge. You can use it to compare different credit and loan offers. We will tell you the APR for your loan or credit card before you sign an agreement. if you borrow £7,500 – £25,000 over one to five years
  • Wide range of borrowing options: choose to borrow from £1,000 – £50,000 over one to seven years
  • We offer an instant online decision on your loan application
  • Flexible repaymentCloseRepaymentWith a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment. With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan. options, where you can make additional payments free of charge
  • You have the option to apply for up to two repayment holidays of one month in a rolling 12 month period, subject to approval.

Keep in mind

  • Our loans are only available to Lloyds Bank current account holders who've had their account for at least one month
  • How much we lend and the rate available are subject to our assessment of your circumstances
  • Repayment holidays are available if you meet certain conditions. Interest will be charged if you take a repayment holiday, so you'll pay more interest overall and your original term will be extended
  • If you make an early settlementCloseEarly settlementYou can fully or partly repay your loan at any time during the repayment period. If you choose to settle your loan before it’s completed its full term some of our loans may charge an early settlement adjustment. If you’ve taken out a Flexible Loan you agree to repay the capital plus the interest as it accrues. If you pay off your loan in full before the end of the agreed term, we’ll calculate what you owe us at the time which will include capital plus interest accrued but no additional charge. If you’ve taken out any of our other loans including the Personal Loan, the amount you agree to repay include the interest that is charged to the end of the loan term. If you make an early settlement we’ll reduce the charge for credit you have agreed to pay us which means you don’t have to pay all the interest. This reduction may be adjusted by up to 58 days’ interest – this is the early settlement adjustment. on the Personal Loan, we will charge up to 58 days' interest
  • If you’re looking to borrow money, it’s important that you make the right choice for your circumstances. Other borrowing options may be suitable for your needs.

Representative example

You could borrow £10,000 over 48 months with 48 monthly repayments of £225.04. Total amount repayable will be £10,801.92. Representative 3.9% APR, annual interest rate (fixed) 3.83%.

This representative APR applies to loans of £7,500 to £25,000 over 1 to 5 years. Other terms and loan amounts are available at different rates. If you qualify for a loan we'll tell you the rate that applies when you get your personalised quote. The maximum APR you could be offered is 29.9% APR

You can also find out about our range of other borrowing options.

Loan calculator

Use our handy loan calculator to work out how much your loan repayments could be.

Loan calculator

It’s important to stay within your budget, so work out what you can afford each month and how long you want to be making monthly repaymentsCloseMonthly repaymentsWith a loan, we give you a sum of money up front and each month after that you pay back some of what you owe. That monthly sum is called your repayment. With our personal loans, your repayments are fixed. That means you’ll owe the same amount each month for the entire life of your loan..

  • Make sure you find out the total cost of the debt when comparing different methods of car finance.
  • Find out if there are any restrictions for paying off the debt early and whether you can make additional payments.
  • Find out how much flexibility each of the types of car finance offer, for example if you want to sell the car.

If you've done your research and have decided a loan is the best option for you, a Loan from Lloyds Bank might be able to help you finance your car and other large purchases you might make.

Our responsibility to you

We'll never encourage you to borrow more than you can afford. To help you get it right, we have lots of help and guidance.

Lloyds Bank offers a wide range of Car Finance options, including Hire Purchase, Personal Contract Purchase, Dealer finance options through Blackhorse and Personal Leasing through Lex Autolease.

Want to know more? Take a look at the range of car finance options offered by Lloyds Banking.

Apply for a loan

To apply for a Lloyds Bank loan, you must be over 18 years old and a UK resident. How much we lend and the rate available is subject to our assessment of your circumstances.

Apply online

With our Personal Loan you can get a personalised quote and decision in minutes with no credit footprint.

Log on for a quote

Apply over the phone

If you hold a Lloyds Bank Current Account, call us on 0330 123 3890.

If you have a credit card, mortgage or existing loan with us, call us on 0330 123 4715.

Lines are open 8am–10pm seven days a week.

Apply in branch

Your local branch will be happy to help you apply for a Loan. We'll usually be able to give you an answer and transfer the money into your account the same day.

Find your nearest branch