Drive off with a Credit Union loan

If you need some financial help with your next car purchase, why not consider a Credit Union loan?

There are adverts all over the place at the moment for attractive sounding deals on new cars, but when you look at the small print there can be catches, such as big deposits, lump sums to pay at the end, or you get tied in for a number of years.

With a loan from the Credit Union you can buy the car you want on the terms that suit you, at a much lower cost than using the credit deals offered by car dealers.

We offer loans of up to £20,000 above savings starting from just 2.9% APR. You can apply for a loan as soon as you join the Credit Union, but often we will reward you with a lower interest rate if you have saved with us first – so the sooner you join the better!

There are no set up fees for our loans, no early repayment penalties and we offer repayment periods to meet your needs. In addition, you only pay interest on the reducing balance of our loans, so the sooner you pay off the loan, the less interest you end up paying.

Of course, as a financial co-operative run for the benefit of our members, we would only recommend that you borrow the minimum you need, not the maximum available.

Martin Groombridge, Credit Union Chief Executive, said: “If you’re looking to buy a car, why not talk to us about our fair and affordable loans? The offers from car dealers often sound good, but the risk is that you end up getting tied into something that’s hard to get out of, without paying off a large sum or handing back the car.

“The sooner you join the Credit Union, the sooner you can benefit from one of our low cost loans and the more you save with us, the more you can borrow!”

If you’re planning to buy a car and need a loan, contact us today.