With fuel prices continuing to rise, running a car can be pretty expensive at the moment. For this reason, some motorists may decide that now is the perfect time to invest in a newer and more efficient model. One way to finance your upgrade could be to apply for a loan from Lloyds TSB.
There’s been a big focus on the environment in this country in recent years, with the Government introducing various measures to bring down the nation’s carbon emissions. In 2005, a new road tax scheme which bases charges on a car’s environmental impact was introduced. This has led to increased competition among manufacturers to produce the greenest car.
If your old, inefficient car has been hitting you hard in the pocket, you could decide to look at the various electric or hybrid models out there. At Lloyds TSB, we know everyone’s motoring tastes are different – and therefore our car loans are offered with the individual in mind. They offer tailored borrowing amounts and have flexible repayment options. You can choose to borrow from £1,000 to £25,000 and pay it back between one and seven years. If you’re worried that your circumstances could change during the term of the loan, the option to take repayment holidays in some situations could offer a little reassurance. You need to be at least 18 years old and have held a Lloyds TSB current account for at least three months to qualify.
Of course, affordability is the most important thing to consider when you’re taking out a loan. With this in mind, we offer a range of tools and guides to make it easier for you to decide what will suit your finances. Our loans calculator, which is available on our website, will use details about your income and outgoings to make the picture a little clearer. It’s also worth having a read of our online guides about budgeting and managing your finances.
When you’ve decided how much you’d like to borrow, it couldn’t be simpler to apply for your loan. Lloyds TSB internet banking customers can get an instant decision with a few clicks of their mouse once they’ve logged into their account – and it’s easy to find out changing the loan amount affects the rate and monthly repayments. There’s also the option to speak about the loan with us over the phone or in branch. Why not get in touch and find out how we can help you on your journey to a car that’s a little easier on the environment – and your wallet?