05 September 2010


Sitemap	Close

Home

About us

How to become a member

Benefits of Membership

Handiloans (£100-£999)

Community Service Points

Car Loans

"Our car loan rates speak for themselves, check out the repayment table"

Get into gear with a

Castle & Crystal Car Loan

Castle & Crystal Credit Union has made it even easier for you to apply for a car loan and with a great APR of just 8% on the declining balance. This is an offer you will not want to miss.

To apply for a car loan you need to become a member. To find out more about joining please go to the section How to become a member.

Download Car Loan Application (584kb)

How to apply for a Car Loan

1. Complete your Car Loan application form and provide the following documents:

The last 3 months bank/post office statements
A rent/mortgage statement
3 months payslips

2. Hand your documents in to our Head Office or a Community Service Point which are conveinently located within the borough. A member of staff will photocopy your documents and pass them onto our loans officer. A loan interview will be arranged if needed.

3. The loans officer will contact you within seven days with our decision. Once approved you will need to sign a loan agreement and collect your loan.

What interest do I pay?

The interest rate is just 8% APR on the declining balance. There are no loan set-up fees or transaction costs with Castle & Crystal. If you pay off your loan early you will pay less interest and there are no penalties or hidden costs for doing so.

Most Car Finance companies charge ridiculous rates of interest and there are many hidden fees, sometimes resulting in the loan being higher in value than the car.

We believe our rates are very competive and we may be able to help if your current car loan is with a different lender.

Take a look at the Car Loan repayment table, the figures speak for themselves.

How do I repay the loan?

By standing order.

You can also pay by payroll deduction if you work for Dudley Council, Dudley PCT, Dudley Group of Hospitals, Dudley College and Interserve.

How will I receive the money for my car loan?

The cheque can be made payable to the organisation or the person you are buying the car from. We can also pay via BACS transfer.

Can I repay my loan early?

Yes you can and there are NO PENALTY CHARGES (unlike most lenders). You will pay the interest due on the day you are clearing the loan.

What happens if I have a CCJ?

If you have a County Court Judgement your loan application will still be considered, so long as you have made an arrangement to pay.

Further information

Approval is not automatic. Our loans officer will will review your income and expenditure from your Car Loan application form and will ensure that you can afford to pay what you borrow. We also use the Equifax Credit Reference Agency to search your credit history.

For further information please call our dedicated Car Loan line on 01384 817620.

Should you experience any difficulty in repaying your loan, please call our loans officer on 01384 812767 as soon as possible. We may be able to help.

We will always chase any late payment of your loan and may use Debt Recovery Agents in severe circumstances. Ultimately we will always take court action but only all attempts to help set up regular repayments have been exhausted.

Page last updated 10/03/09 RW

Updated: 21 December 2009