Car Loans

Car Loan

If you’re looking to buy a car, a credit union loan means you won’t be tied into high-rate finance plans with dealers.

With the cash in your bank, we put you in the driving seat. You will be free to shop around for the car you want at a price you can afford.  What a great feeling!

And did you know, our car loans aren’t just for buying cars?

Whether it’s the MOT certificate, road tax, insurance or the cost of repairs,  our car loans can also be used to put towards the cost of keeping the car on the road too.

Our affordable loans are tailored to what you can afford – with no hidden setup fees or costs. You’ll know exactly what your monthly repayments will be, and we’ll get them set up to go out automatically so you never miss a repayment.

And, because we’re a co-op, our interest rates are fair and competitive. Check out our loan calculator to see how much an affordable loan could cost you.

Subject to approval, you could receive funds into your account the next working day. Not only that but with us, you’ll be saving money as you repay your loan, meaning by the time your loan is complete, you’ll have built up a savings pot.

So next time those inevitable car bills land, you’ll have funds on stand by.

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Representative example: £5,000 loan, over 48 months. 48 x monthly repayments of £138.58, Total repayable £6651.84. Total cost of credit £1,651.84 APR 15.8%.
Minimum term of loan 1 week, maximum term 5 years. Minimum APR 11.8%, maximum APR 34.8%. Example is for illustrative purposes only.

Any Questions? Check our our FAQs below, or if there’s something else we can help with, here’s how to get in touch with the team

Car Loan

Why chose us?

  • We could save you money compared to borrowing on your credit card, overdraft or in-store credit plans:  try our loan calculator to see how much you could save

  • Our interest rates are competitive because we’re a not-for-profit organisation owned by members and run for the benefit of members.

  • Our loan decisions are made by people, not computers. If you’ve been turned down elsewhere, we may still be able to help.

  • We also pride ourselves on being fair and transparent – there are no hidden charges or early repayment penalties with our loans and we only charge interest on the reducing loan balance to save you money.

  • With a credit union, you also save as you borrow – so you’ll build up a pot of savings for future use.

  • Repayments are taken by payroll deduction (for qualifying members), or direct debit making repayments easy.

    Please note, all loans are subject to our lending policy and affordability checks. See further details below.

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Loan FAQs

We’ve answered some of the most commonly asked questions here in our FAQs below- from how we make loan decisions to how long it takes to receive a loan, but if there’s something else you’d like more information on, please get in touch, the team will be happy to help.

All loan applications are subject to our Loan Approval Policy. Members who have been declined for a loan with us in the last 3 months are not eligible to apply. We will check your credit history and assess the affordability of loan repayments by reviewing your bank account(s). We may also request additional supporting information depending upon your circumstances, such as payslips, ID documents or immigration paperwork. All lending decisions are ultimately at the discretion of our team. We always do our best to say “yes” but unfortunately that is not always possible. We will be happy to provide information about how we made any decision upon request.