A Credit Union Car Loan? Your Questions Answered.

3rd March 2021

This week, Scotwest Credit Union kindly shared their expertise and guidance with us on their car loan options.
Not sure what a Credit Union is? Click here to learn more about the benefits.

Scotwest Credit Union offering car loans.

The new ’21’ registration plates are on their way and you might be thinking about buying a new car or like many others, are looking to get a great deal on something pre-loved.

When it comes to purchasing a car one thing a lot of us will turn to is finance either through a bank or even the dealership itself. One thing you might have not considered however is going to a Credit Union for your next car loan.

Who are Scotwest Credit Union?

Scotwest Credit Union is one of the largest credit unions in the UK, providing ethical, competitive and fair financial services to anyone that lives or works within the West of Scotland* area.

Why Choose Scotwest?

When it comes to a car loan from Scotwest the rate you see is what you get and there are no arrangement fees or hidden costs. When it comes to your bank, they might tease you in with a rate that looks great but more often than not most customers won’t qualify and end up with a much higher APR than advertised. Dealerships too can often offer much higher APRs, with fees and hidden costs that might not be clear and often sold under pressure from a sales person.

The Scotwest Car Loan is only 3.9% rep APR meaning that a £10,000 car loan paid over four years would only cost you roughly £810 in interest.

How Does it Work?

If you see a car you like or know your budget simply call on 0141 227 2390 or apply online here. You’ll receive a quick decision and once you have that it’s time to go shopping, speak to your dealer and once you’re good to go let us know and we’ll pay the dealer directly.

Don’t worry if you are not already a member – you can apply and join at the same time by calling 0141 227 2390 or filling in our online membership form here.

Want to Know More? To find out more about the Scotwest Car Loan click here or call 0141 227 2390.

*This includes: Argyll & Bute, East Ayrshire, East Dunbartonshire, East Renfrewshire, Glasgow, Inverclyde, North Ayrshire, North Lanarkshire, Renfrewshire, South Ayrshire, South Lanarkshire and West Dunbartonshire

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