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Whether you are looking for an upgrade or switching to an electric car, a car loan can help you spread the payments.
Apply nowLog on to Internet Banking to get a personalised quote.
A car loan is a personal loan that you can use to buy a car.
Before applying for a car loan, we’d recommend finding the car you’d like to buy first. Then you'll know how much to borrow.
Once you’ve found your car, you can use our loan calculator to get an idea of what your repayments may look like. You can also get a personalised quote by logging on to Internet Banking. Usually, we'll tell you how much you could borrow and if you're likely to be approved, before you apply.
If your loan is approved, you could have the money in your account the same day. You can then pay the car dealership or private seller in full and pay back the loan to us as per the agreed terms.
When buying a car with the help of Lloyds Bank, you have four options to pick from. Such as a personal loan, Personal Contract Purchase (PCP) Hire Purchase (HP), or Car Lease.
Compare your options or learn more about the ways you can pay for a car.
A car loan is a personal loan, so you don’t have to use it to buy a car. Once the money is in your account, you can use it for just about anything, although there are some restrictions. We can’t issue loans intended for:
These limits apply whether you want to borrow money for yourself, or to support someone else. For example, you can't take out a loan and give the money to a family member as a deposit for a house.
Getting a personalised quote with us does not use a credit check or affect your credit score.
When you apply for a car loan, we will perform a credit check. This is to help us understand how likely you are to pay the loan back. Learn more about how credit checks work.
How much we lend and the rate available are subject to our assessment of your circumstances. You must be 18 years of age or over and a UK resident. You must have had a Lloyds Bank current account for at least one month.