Business loans
A flexible way to expand your business or invest in equipment.
Business car finance
Fund the cars you need for your business with our cash flow-friendly finance options.
Enquire nowHow can car finance help your business?
Business car finance works in a similar way to financing a car for personal use but you can fund multiple cars at the same time. It means you can spread the cost over different time periods to suit your business instead of paying the full cost upfront.
Why finance a business car?
What type of car finance is right for you?
There are different ways to fund your car depending on whether you’re buying new or used, and if you prefer to hire it or want to own it at the end of the agreement.
Business Hire Purchase
Our most popular car finance option helps you spread the cost.
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Option to own at end.
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New or used.
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Fund up to 90% of price.
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12 to 60 months.
Finance Lease
An affordable way to lease cars without owning them.
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Extend or sell at end.
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New or used.
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Fund up to 100% of price.
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12 to 60 months primary lease.
Vehicle Contract Hire
A cost-effective way to lease brand-new cars without owning them.
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Return vehicle at end.
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New only.
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No deposit.
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24 to 60 months.
Other car finance options
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If you’ve bought a car using cash or your overdraft in the last six months* then we can lend you up to 90% of the value of that purchase.
You can then repay us over a period of 12 - 60 months. Once all repayments are made, you will own the car again.Note you must be VAT registered.
*Three months if you’re in Scotland.
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Pay a lower interest rate on repayments, when funding the purchase of electric cars, with Lloyds Bank’s Green Asset Finance.
Funding can support electric, selected hybrid and hydrogen cars.
We also provide financing for the infrastructure you need to support low-carbon transportation such as charging points.
The discount is available for five years on cars valued over £25,000.
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Protect your business when buying cars from outside the UK for £100,000 or more.
You can spread the cost over an agreed time period. We will only pay the supplier when they meet their obligations.
This helps protect your investment, and means your cash flow is not significantly impacted by the purchase.
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Let's talk about Hire Purchase
Lloyds Bank have been providing asset finance solutions for many years. We have a team of specialists on hand to make sure you get the right support and the help you need to choose the solution that is right for your business.
Frequently asked questions
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The cars you use to carry out your day-to-day operations are classed as business assets. Our business car finance is a type of asset finance that allows you to spread the cost of the vehicle over time. This helps you to manage cash flow as you won’t have to pay the full cost upfront and makes budgeting easier as you’ll pay monthly costs instead.
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You can use Hire Purchase or Finance Lease for most types of new or used cars for your business, depending on qualifying criteria.
If you want to lease a new car through Contract Hire, you’ll need to check what your contract hire provider offers and their terms and conditions.
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Car finance is used solely for buying or leasing a specific agreed vehicle. It uses the value of the vehicle as the security for the finance you need to borrow to buy or lease it. At the end of your agreement, you’ll have different options including owning your vehicle, returning it, selling it or extending your lease.
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Pricing is tailored on the asset you want to buy or lease.