Purchase or Repair Your Car with a Vehicle Loan from ESLCU
Our Vehicle Repair & Purchase Loan helps you spread the cost of car repairs or purchase. Whether you’re looking for a new car or need essential repairs, our loans and tailored repayment options can help you get on the road.
Borrow from £300 with competitive interest rates and fixed repayments that suit your budget. There are no hidden fees, and you can pay off early without penalty.
For Our Community
Our credit union Car Purchase or Vehicle Repair Loan is designed for those living, working, studying or volunteering in Norfolk, Suffolk, Cambridgeshire, or North and Central Essex.
No Set Up or Early Repayment Fees
Our loan products, including the Car Purchase or Vehicle Repair Loan, have no hidden fees and you can pay off your loan early without penalty. You are also welcome to make additional payments if and when it suits you. Doing this reduces the interest owed too!
Clear Rates, Always
As an ethical credit union we work with honesty and trust. This means we prioritise transparency by clearly disclosing our loan rates at all times.
Quick Decisions
Once you become a member of ESLCU, you can apply for a Car Purchase or Vehicle Repair Loan. Our loan decisions are typically made within 3-4 working days, and you can check on the status of your loan application at any time through the Members Area.
Flexible Repayments
Pay back your credit union Car Purchase or Vehicle Repair Loan in a way that suits you. We offer monthly or weekly repayment options across all of our loan products.
Fill in the membership form on our website. Please note, there is a recurring membership fee of £1 every 4 weeks for all of our accounts.
Pay £5 using PayPal or GoCardless (you’ll see the payment page after submitting the form).
Once approved, you’ll get an email with your membership number, account details, and information about us.
Once you join, you can apply for a loan in the Members Area. Loan decisions are typically made within 3-4 working days
Use our loan calculator to estimate your repayments based on the loan amount, time, and interest rate. It’s an easy way to plan your finances and make informed decisions before applying for your Car Purchase or Vehicle Repair Loan. Start calculating today and see how much you could borrow!
To apply for a Car Purchase & Vehicle Repair Loan, you must live or work in North or Central Essex, Norfolk, Suffolk, or Cambridgeshire, or be employed by one of our Payroll Partners, such as East Suffolk and North Essex NHS Foundation Trust or East of England Coop. You must also be an ESLCU member.
Once your Car Purchase or Vehicle Repair Loan is approved, the funds will be released within 2 hours, provided we have received the signed loan agreement and confirmation of repayment setup.
If you already have a car purchase and vehicle repair loan with ESLCU and need additional funds, you can apply to increase your borrowing once you’ve repaid half of your current loan. You can track your loan balance online through the Members Area or by calling 03336 000690.
Yes! You can make one-off or regular additional payments, or pay off your loan early without any extra charges. Interest is calculated on the reducing balance, meaning the more you repay, the less interest you’ll pay. This gives you flexibility to manage your loan in a way that suits you.
If you have recently completed a Debt Restructuring Order (DRO), Individual Voluntary Arrangement (IVA), or declared bankruptcy, it’s unlikely that you will be eligible for a loan. However, you can still open an account with us and use it as a “rainy-day” fund.
Experience Financial Freedom with Our Trusted Credit Union Services
