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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.
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.
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.