Do you want to buy a new car but has an insufficient fund? It’s time that you apply for the Lloyds Bank Online Car Loan and get up to £25,000 loan to buy a brand-new or used car. You can also request for a no-obligation quote plus enjoy the lowest APR of 3.8%. It’s one of the best loans to finance a car and it’s so simple to apply.
Read on to discover how you can benefit from this loan and see the requirements needed.
Features of the Lloyds Bank Online Car Loan
Lloyds Bank offers various loans for different needs of customers. Be it to improve the home, consolidate debt or maybe fund the wedding, there’s something for everybody. In this article, we’re going to dig deeper into the perks and benefits that come with the Lloyds Bank Online Car Loan.
Freedom to choose the car you want to purchase is something that you can enjoy with this loan. Some banks will likely set a limitation, especially for luxury cars, but with Lloyds Bank, you definitely have the say what vehicle to get. However, the bank will need to check if the loan amount you wish to get will be manageable for you. Moreover, you are not allowed to purchase commercial vehicles or purchases from a private vehicle seller.
Another reason to love Lloyds Bank Online Car Loan is the finance options. One, you can enjoy fixed monthly repayments and two, get the flex finance and have the choice whether to buy the car in full payment or just return it. The latter must be within the terms and conditions of returning the car.
Comparing rates and finance is also convenient with Lloyds Bank Online Car Loan. Check cars online and see which one works for your budget. With this, you can already check how much will be the repayment per month, based on the total loan amount, deposit and the repayment term.
Lloyds Bank Online Car Loan Application
You can head to the Lloyds Bank website for more details. To apply for this loan, you must be at least 18 years old, employed, a UK resident and has an existing main personal current account with Lloyds Bank. Note that your account must be active for a minimum of three months. Failing to comply with these requirements can take a toll with your application. There’s also no need for credit checks because you are a current member of the Lloyds Bank.
For the loan amount, you can get a minimum of £1,000 up to £25,000.
Fees and Charges of the Lloyds Bank Online Car Loan
Aside from the fixed APR of 4.8%, there is also an annual interest rate of 4.66% and a £10.00 for the purchase fee. Lloyds Bank will be the one to finance for the car and you will only need to pay the monthly repayments.
All in all, the Lloyds Bank Online Car Loan is a good choice if you are after the low interest and smooth finance process. Apply now and get the dream car of yours!