This loan is for you if:
- you are looking to purchase a vehicle priced between £5,000 and £20,000 or
- you are reaching the end of a Personal Contract Plan and you need to make a balloon payment in excess of £5000 and
- you work for an employer (see the list below) who will send us the loan repayment direct from your salary or stipend or
- you receive a pension from a previous employer who will send us the repayment direct from your pension
Select how much you wish to borrow
Select how long you wish to borrow the money for
Your Loan Details
monthly payments of: £
Total repayment: £
Total interest: £ (APR: %)
HAVE YOUR BANK STATEMENTS READY
We will also need you to send in your most recent bank statement showing around 6-8 weeks’ transactions and proof of your income. If you regularly use more than one bank account please provide statements for those accounts, too. If you are able to save your bank statements as a pdf or in one of the following formats .jpg, .jpeg, or .png, there is the facility within the application form to upload up to 64MB of files.
Most online banking provides the facility to download bank statements and save them as a PDF or .jpg, .jpeg or .png files. Likewise if you usually receive paper statements these can be scanned or if you use a smart phone photographed and saved as a file type that can be uploaded to the loan application form. Excel or CSV files should be sent as an email attachment to Loans@cmcu.org.uk.
If you would prefer not to email bank statements, you may submit them by post to CMCU, 3 Beaufort Buildings, Spa Road, Gloucester, GL1 1XB but this may cause a slight delay to your application.
BEFORE YOU APPLY
Car loans must be used to purchase a vehicle (not always but usually a car) and we will ask you to provide proof of purchase within 28 days of the loan agreement.
We do not require information regarding the vehicle you intend to purchase but we do advise you to buy wisely, obtain an HPI check and use a reputable dealer. Credit Union car loans are usually made over four years and you should expect the vehicle to be roadworthy for the length of the term.
The following employers are currently part of the payroll deduction scheme:
- Methodist Connexion and Methodist Ministers
- Church of England Church Commissioners
- Church of England NCIs
- Church of England Pensions Board
- Church of Scotland and Crossreach
- Church in Wales
- Diocese of Oxford
- Diocese of Salisbury MAT
- United Reformed Church
- RC Diocese of Westminster
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