Rating based on 73 reviews

Bank of Scotland Car Finance

  • Car loans up to £60,000
  • Low-interest starting from 3.8%
  • Repayment up to 48 months

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Bank of Scotland homepage
Author Bank of Scotland. Screenshot of Bank of Scotland website.
[Accessed April 25, 2020]

About Bank of Scotland

Buying a car is an important investment, that is why we offer advice and loans to get you driving in the right car for you and your budget.

At the bank of Scotland, we take pride in our services. We offer online services for your convenience and aid. We want to do the best we can and we are always willing to answer questions and assist you. Caring and sharing is part of what we do.

Our loans and interest rates

We offer personal loan amounts between 1,000 pounds and 35,000 pounds. We will charge up to 58 days interest if you chose to settle the amount early. We want you to find the right option for you, so we have more than one choice for you. Our personal loan for a car purchase is one of our options, but we also offer to hire purchase and personal contract purchase. We also offer car insurance.

Bank of Scotland Services

You will also need some information readily available, like the dealerships name and banking details.

Some information about the car is also required, like the registration number, current mileage, how many miles you expect to drive each year if you are taking personal contract purchase, the price of the vehicle, and the deposit. If the car is new, we will also need the delivery date of your car and the full vehicle details if you don’t know the registration.

Things to consider when making a choice

  • The cost of fuel
  • MOT tests
  • Insurance
  • Breakdown cover
  • Servicing and maintenance
  • Only for cars, not vans or motorcycles
  • Car finance may not be used to buy a business vehicle, only personal.

Bank of Scotland – Car loan

  • Loan Type Car loans
  • Interest Rate from 3.8%
  • Loan Amount up to £60,000
  • Repayment 12 months to 48 months

Benefits of Bank of Scotland

  • Get an online decision within minutes
  • Speedy loan applications
  • You can pay extra without penalties
  • Easily manage your loans online

Car loan calculator

The interest rate of a loan will vary based on your credit score and risk profile.
This loan calculator is for illustration purposes only.
The use of this quick loans calculator is subject to our terms of use.

The Bank of Scotland has quick and reliable car loan options

When you take a personal loan to finance a car with us:

  • You do not need to pay a deposit when taking a personal loan to finance your car
  • You can choose how long you want, or need, to pay it off
  • Receive an answer within minutes when applying online
  • The car will be yours from the start, you can do what you want with it
  • You can manage your banking via our mobile app or with online banking
  • You can pay extra without penalties
  • Payment holidays for those that meant the requirements in our T’s and C’s.
  • A payment holiday will result in you paying more interest and increasing the overall amount owed.
  • You can apply for a loan online, by calling, or by visiting a branch.
  • We also offer two more ways to finance your car. Fixed car finance (hire purchase) is the first. With this option, once you have paid the agreed-upon amount you will own your car. A deposit is required, no mileage limit and you may not sell the car until the finance is paid off.
  • With flex car finance (personal contract purchase), our second option, you will pay lower monthly amounts. Once the agreed-upon amount is paid back, you can decide whether you want to pay a lump sum and own the car or give it back. A deposit is required. You may not sell the car until the finance is paid off. There will be an agreed-upon annual mileage limit and exceeding the limit will result in additional costs. There may also be extra fees if you return the car in less than good condition.
  • Easily manage your accounts and loans online
  • With hire purchase and personal contract purchase, there is no fee for settling early
  • We pay the dealership for you and all you need to do is arrange to collect your car
  • No credit searches, so your credit score will not be affected
  • Our personalized car finance calculator will help you decide what is best for you
  • You will receive a decision while online once you have applied, it’s easy and instant
  • The majority of UK dealer are covered

How to apply for one of our car finance options

  • Step 1 – Calculate your options and decide how much you want to borrow; you will receive a no-obligation quote right away.
  • Step 2 – Once you have a quote, apply online. It will only take a few minutes and you will receive an answer on the spot.
  • Step 3 – When you have chosen a vehicle from a dealership, we will pay them and you can pick it up.

Requirement to apply

  1. Have an account with the bank of Scotland for over 1 month.
  2. The amount and rates are subject to our assessment of your personal circumstances.
  3. You must be over the age of 18 and if you are retired must have an income from a private or state pension or a combination of both
  4. Be a UK resident with a permanent UK address
  5. Registered for online banking
  6. Not be in full-time education if applying for a personal loan
  7. You may not have been declined for credit within the last month
  8. You may not have a history of bad credit such as arrears, or county court judgements (CCJs), default or bankruptcy
  9. Have a regular income, e.g. paid employment
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Bank of Scotland is a trusted & reliable provider of car loans

In our review, Bank of Scotland adheres to the compliance criteria in accordance with the Financial Conduct Authority, where the granting the loan will not cause financial distress to the consumer.

Bank of Scotland is a registered credit provider in UK: FSA 169628

Customer Reviews & Testimonials

October 2019

Easy online management of my finances, quick responses to enquiries and no queues

Dale M
— Leicester —

August 2019

I was able to get a reliable car for the family and the interest rates were amazing

Bruce P
— Hull —

Bank of Scotland Contact

Contact Number


  • not available


Physical Address

Opening Hours

  • Monday 09:00 – 17:00
  • Tuesday 09:00 – 17:00
  • Wednesday 09:00 – 17:00
  • Thursday 09:00 – 17:00
  • Friday 09:00 – 17:00
  • Saturday 09:00 – 12:00
  • Sunday – Closed