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Get the wheels in
motion with a
Car Loan

Borrow at 9.4% APR subject to payment made direct to Garage or Car Dealership.


Buying a car? Buying direct from a Garage may have benefits such as a warranty.



Car loan car example image
Amount Borrowed
Monthly Repayment
Total Repaid
36 Months


What is a Car Loan and how does it operate?

Our Car Loan is a discounted loan rate for purchasing a new or used car from a garage or dealership. This loan operates in the same way as our Savers' loan except loan funds must be sent directly to the garage or dealership for a discount to be considered.

How much can I borrow?

If this is your first loan with us, you can apply for up to double your savings, with a maximum term of one year. For subsequent loans, you can apply for up to triple your savings with a maximum term of five years. Please note there are lending limits in place - please contact us for advice. All loans are subject to Credit Union rules, lending criteria and affordability checks.

I've had a Family Loan with you, can I still get a Car Loan?

Your Family Loan will count as your first loan with the Credit Union. Once you have finished paying your Family Loan as per the original terms, you may be able to apply for up to three times your savings as a Car Loan.

I'm buying a car from a friend, can I still qualify for the Car Loan discounted APR?

Unfortunately not. Our Car Loan discounted rate is strictly applicable to Cars purchased from a garage or dealership. You are free to choose a garage/dealership of your choice. If you still want to purchase a car from a friend, our Savers' loan rate will apply.

What are the benefits of purchasing a car with a Credit Union Loan?

In addition to a discounted APR, our Car Loan is the same as all other loans from the Credit Union meaning; no additional, hidden or set-up charges. apply. You will also benefit from free Life and Loan protection insurance (terms and restrictions of insurance apply please contact us for more information). 

If I'm approved for a Car Loan, what do I need to do next?

If approved for a Car Loan, we will need payment details for the Garage/Dealership you are purchasing a car from so we can make payment on your behalf.

Can I pay my loan back early? Are there any fees for this?

Members can clear the balance of a loan at any time and we do not charge any early settlement fees for this.

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