Test Drive a Credit Union Car Loan today
Whether you’re looking for a top-of-the-range model or something to get you from A to B, your local credit union can help you get on the road with the car you need. Chat to your credit union about a flexible car loan from a lender who cares or submit an online loan enquiry today.
We also have car loans for those who are specifically upgrading to an electric or hybrid car. For more information visit green car loans.
At the credit union, we look at things differently:
- Owned by you: Every credit union is owned by its members, the people who save with it and borrow from it
- Local: All decisions are taken at local level in the best interest of all members
- Member service: Credit unions excel in the personal service which they provide to members
- Flexible: You can pay off your loan early, make additional lump sum repayments or increase your regular repayments, all without penalty. Generally there is no minimum loan period.
- Loan protection: Loans are insured by the credit union’s own policy at no direct cost to you. This is designed to pay off a loan in the event of a borrower’s death – subject to terms, conditions and eligibility criteria.
What's different about a credit union car loan?
Unlike a Hire Purchase agreement or Personal Contract Plan, with a credit union car loan, you own the car from the outset. There are no hidden fees or charges and definitely no balloon payments or mileage restrictions. If you want to own the car you're driving and want the freedom to decide when to sell it, a credit union loan may just be for you.
How much does a Car Loan cost?
The maximum interest rate which a credit union can charge is 12% (12.68% APR)*. In practice, most credit unions have car loan interest rates which are significantly lower than that. Click here to view information on average credit union loan rates. And not only that, many credit unions offer a loan interest rebate at the end of the year, making credit union loans even more appealing. Please check with your local credit union for further details.
* For a €/£3,000 one year variable rate loan with an interest rate of 12%, an annual percentage rate of 12.68%, the monthly repayment will be €/£266.55 and the total amount repayable will be €/£3,198.56.
How do I apply for a Car Loan?
If you are already a member of a credit union, simply contact your credit union today.
Or, to submit a personal loan enquiry to your local or workplace credit union, please click on the Loan Enquiry link below.
Not a Member? Not a Problem!
If you’re not already a credit union member, why not join your local or workplace credit union today? You'll find more details on what you need to join by clicking here.
Or if you can’t remember the last time you used your local credit union, that's also no problem. Credit unions just love to see old friends returning. Just contact your local credit union to find out how to reactivate your account. Isn’t it time you had your Credit ReUnion?
Loans are subject to approval. Terms and conditions apply. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating which may limit your ability to access credit in the future. Credit unions in the Republic of Ireland are regulated by the Central Bank of Ireland. Credit unions in Northern Ireland are authorised by the Prudential Regulation Authority, and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.