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Buying a Car

Looking to buy a car? Our personal loans 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 4.6% 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.
  • 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. There's no early settlement adjustmentCloseEarly settlement adjustmentYou 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 have 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, the amount you agree to repay includes 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 wouldn’t have to pay all of the interest. This reduction may be adjusted by up to 58 days’ interest - this is the early settlement adjustment. on the Flexible Loan, but there may be on other loans including the Online Exclusive Loan.
  • You have the option to apply for up to two repayment holidays of one month in a rolling 12 month period, subject to approval.
  • You can also apply in branch or over the phone.

Keep in mind

  • Our loans are only available online 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’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.

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 Flexible 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.

There are three main types of car finance available from Lloyds Bank: personal loans, hire purchases, and personal contract purchases.

Personal loans

Personal loans are a form of unsecured lending with fixed monthly repayments and a fixed interest rate. Buying a car is one of the top three reasons people take out a personal loan with Lloyds Bank. We can offer this type of finance with our Flexible Loan.

Hire purchase

A hire purchase is a finance agreement secured against the car with fixed monthly repayments and a fixed interest rate where the finance company owns the car throughout the payment term. We can offer this type of finance with Fixed Car Finance.

Personal contract purchase

Personal contract purchase is a form of car purchase with the option to buy the car at the end of the agreement. The interest rate and monthly repayments are fixed for the duration of the agreement. We can offer this type of finance with Flex Car Finance.

Online

If you're registered for Internet Banking, you can get a personalised quote and a decision online in just five minutes.

Log on to apply

If you're not registered for Internet Banking you can register now.

By phone

If you hold a Lloyds Bank Current Account, call us on:

0800 096 1356

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

If you do not hold a Lloyds Bank Current Account, call us on:

0800 068 1191

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

In branch

Pop into your local branch and we'll be happy to help. We'll usually be able to give you an answer and transfer the money into your account that same day.

Find your nearest branch

Apply for a loan

To apply for a Lloyds Bank personal 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.

Registered for Internet Banking?

You can get a personalised quote and decision in minutes with no credit footprint.

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