Your car finance options

We have a range of car finance options to suit you. You can borrow money over 1-5 years to spread your repayments out, or even look for a long term rental through our new Car Leasing option. Eligible customers, with an existing current account, can get a personalised quote by logging on to Internet Banking. Getting an online quote won't affect your credit score. This means you can get a few quotes with different amounts or terms to help you find your ideal car.

Personal Contract Purchase (PCP)

Pay less each month, and decide at the end if you want to keep the car.
  • 7.9% APR representative when you borrow between £7,000 to £25,000
  • 1-4 year terms available
  • Own the car by paying a final lump sum, or return it (return conditions apply)
  • No early repayment charges
  • Yearly mileage limitsIf you've exceeded the agreed mileage allowance on return of the car, you'll need to pay an excess mileage charge. You can avoid this by agreeing a realistic mileage at the outset.
  • Funds are sent directly to the dealer
  • Borrowing from £3,000 to £60,000 available
Get a PCP quote

Hire Purchase (HP)

Simple regular repayments, and you'll own the car at the end.
  • 6.3% APR representative when you borrow between £7,000 to £25,000
  • Fixed monthly repayments
  • 1-5 year terms available
  • Own the car when the agreement ends
  • No early repayment charges or final lump sum
  • Funds are sent directly to the dealer
  • Borrowing from £3,000 to £60,000 available
Get a HP quote

Looking to switch your car finance?

You could lower your monthly repayments or pay back a lump sum over an affordable term by refinancing your car.

£50 when you switch

6.3% APR Representative on HP when you borrow between £7,000 and £25,000.

  • Apply between 8 January until 29 March 2024 to be eligible
  • Sign in to get a personalised quote today to see if you could save
  • Cashback will be paid into the account that your direct debit is set up on. Paid within 30 days after your agreement has started

Terms and Conditions. 

Applications must complete by 30 April 2024 to be eligible for the cashback. Cashback is paid into the account that your direct debit is set up on. Offer can be withdrawn at any time. Credit is subject to status and additional affordability checks.

More about car refinance
    • Make sure to consider any new agreement against your current one
    • Any early settlement fees that may be payable
    • If you refinance over a longer term this could result in more interest being paid
 

We now offer Car Leasing

A long-term rental of a brand new car, paying the same amount each month and hand the car back at the end.

  • Choose from thousands of brand-new cars from more than 30 manufacturers
  • Fixed monthly payments
  • 2-5 year terms available
  • No option to own the vehicle
  • You set the yearly mileage limit
  • Option to include a maintenance and breakdown package

Leasing is exclusively provided by Lex Autolease Limited. Bank of Scotland plc act as a credit broker not the lender.

Lex Autolease is one of the UKs biggest leasing companies. They have a fleet of over 270,000 vehicles, including more than 67,000 electric and alternatively fuelled vehicles.

Read more about Car Leasing

Get a Car Leasing quote

Car Refinance

Not looking to change your car? See if you can save by switching your car finance.

  • Switch existing HP or PCP finance
  • Online quotes and approval
  • Choose to switch to HP or PCP with fixed monthly repayments
  • Keep your current car
  • No early repayment charges on our finance
  • Funds are sent directly to the finance provider
Start your switch

Am I eligible for car finance?

You can apply if:

  • you have a Bank of Scotland personal current account holder (minimum 3 months)
  • you’re registered for Internet Banking
  • you’re aged 18 or over and a UK resident.

Credit is subject to status and additional affordability checks. Other terms, borrowing amounts and rates are available.

Compare your car finance options

Compare your car finance options

If you're not sure which type of car finance is right for you, use our comparison tool to explore your options.

Compare car finance

How is HP and PCP different to a loan?

With a loan, money is sent to your current account and you pay the dealer, seller or current finance provider yourself. You can choose the amount and term you want to borrow the money over. You’ll own the car as soon as you pay the dealer/seller.

With HP and PCP car finance, the money’s sent directly to the dealer, or the company you have your existing agreement with, rather than your current account. You can’t borrow more than you need for the car or finance settlement amount. You don’t own the car until you’ve finished repaying the finance. 

Compare loans and car finance

Car Finance Calculator

You can use our illustrative calculator to help you understand the monthly cost of our HP and PCP car finance products.

Eligible existing current account customers can generate a more accurate, personalised quote by logging on to Internet Banking. 

See your repayments

Bank of Scotland Car Insurance

Get cover you can rely on with one of our insurance policies. And for added peace of mind you can choose from a range of optional extras.
 

Find out more and get an online quote

Existing Customers

Register online and you could take greater control of your Bank of Scotland car finance account in three simple steps.