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Car Finance
Whether you have found your next vehicle, are still doing your sums, or want to switch your existing agreement for a better rate, see how our car finance options could help.
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Your Car Finance options
If you’re looking to spread the cost of a new car, or switch existing car finance from another lender, our car finance options could help. Eligible customers with an existing current account, can get a personalised quote by logging on to Internet Banking. Getting an online quote will not affect your credit score. This means you can get a few quotes with different amounts or terms to help you find your ideal car.
Important information: to apply, you must be age 18 or over, a UK resident, hold a current account with us (min 3 months) and registered for Internet Banking. We can't refinance cars from existing Lloyds Bank customers.
When we transfer the finance amount directly to the dealership, we normally do this on the same day. The money could be in their account in a few hours. Payments made after 2.30pm will be received before 12pm the following day.
Lending is subject to status and additional affordability checks.
Other terms, borrowing amounts and rates are available.
Let’s look at the details
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The amount you can borrow will depend on several factors, such as your:
- Credit score.
- Budget.
- Monthly incomings and outgoings.
- Chosen car.
- Choice of product (HP or PCP).
Only borrow what you can afford to pay back, alongside your other essential outgoings. You can use our car finance calculator to get an idea of what you might be able to borrow. Or you can log in to get a personalised quote.
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What you need when you apply to finance a new or used car can vary between lenders, but can include:
- The registration number for the car you’re buying.
- Current mileage on the car.
- An estimate of how many miles you expect to drive each year.
- The total price of the car and deposit.
- The dealership’s information, including their name, post code and bank details.
- Your own financial details, including your monthly income and regular outgoings, such as debts and other financial commitments.
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You have to be an existing Lloyds Bank current account holder to apply for car finance. This allows you to make as many applications online as you like. This will have no impact on your credit score.
If you miss any repayments, this could have a negative impact on your credit score. If you don’t miss any repayments, then over time it could have a positive effect on your credit score.
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We work with most UK dealerships. View our approved dealer list to see which car dealerships we work with.
We can’t currently accept car finance quotes from Cazoo, Cinch or Motorpoint. If you are buying a car through one of these companies, we may be able to offer you a personal loan to buy the car outright instead. Read more about our car loans.
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You can use our car finance for new and used cars. There are some restrictions on the make/model, age and mileage of the car. Once you enter the details of the car you want to buy, we’ll tell you if our finance is available for that car.
We don’t offer finance for commercial vehicles, motorcycles, caravans or motorhomes. Other limitations based on the vehicle may apply.
We don’t currently offer part exchange as part of our car finance. But you may be able to arrange a part exchange with the dealership.