Get behind the wheel with a loan that fits.
From your first car to a family SUV, we’re here to help you hit the road.
Important: This is an unsecured personal loan and not a hire purchase agreement. If you are borrowing to purchase a vehicle, the loan funds will be paid directly to you and not to the vehicle dealer or seller.
Finance available for dealership buys or private vehicle sales.
Simple personal loans so the vehicle is yours from day one.
Budget for essential maintenance or modifications.
Cover your first year of insurance and registration costs.
Loan Repayment Calculator
Estimates only. Actual rate depends on eligibility.
This calculator uses a standard amortisation formula for an estimated repayment.
Are you looking to borrow money? Using a Credit Union could be the right decision.
Personal Loan Interest rates:
The interest rate depends on the amount you borrow from Clockwise
- From £50 to £2,999 at 42.6% APR
- From £3,000 to £10,000 at a representative APR of 21.9%
- Maximum Annual Percentage Rate (APR) is 42.6%.
- Minimum period for repayment is 90 days.
- Maximum period for repayment is 60 months.
Loan Repayment Example
You can borrow from £50 to £2,999 at 42.6% APR
A loan of £500 paid back over 12 months would mean a
monthly repayment of £50.24 and total repayable £602.82
You can borrow from £3,000 to £10,000 at a representative APR of 21.9%. Depending on your circumstances, the APR will range between 29.3% to 16.1%
A representative loan of £3000 paid back over 24 months at 21.9% APR would mean a monthly repayment of £152.64 and total repayable £3663.35
There are no application fees or early repayment fees.
As part of your application, you may be asked to complete a credit check.
Straightforward Car Loans
Here is exactly how our loans work, keeping things fair, simple, and transparent.
You own the car from day one
Unlike traditional Hire Purchase (HP) or PCP dealership finance packages where the lender owns the car until your last installment, our car finance is a simple, unsecured personal loan.
Because it is unsecured, the cash is yours to purchase the vehicle outright. This means you are the legal owner immediately, there are no strict mileage limits to worry about, and absolutely no hidden balloon payments at the end.
3 Simple Steps to Approval
Check Eligibility
Apply in 2 minutes. We check your affordability without harming your score.
Review
Our local underwriters look at your story, not just a credit number.
Instant Transfer
Once approved, funds go straight to your account.
Borrow with a conscience.
No Shareholder Profits
We are member-owned. Profit goes back to the community.
Absolute Flexibility
Repay early at no extra cost.
Built on trust.
Fully Regulated
We are authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority (FCA). Your savings and loans are safe with us.
A Member, Not a Number
When you borrow from us, you become a member of the Clockwise community. We look at your individual circumstances, not just an automated credit score.
36,000+
Active Members
£30m+
Lent Locally
Interest Rate
Fixed 8.7% - 42.6%
Vs. 25.9%+ Variable
End Date
Clear Freedom Date
No more endless payments
Early Exit
Zero Fees
Vs. hidden penalty costs
Fair finance, built around our members
As a member-owned, not-for-profit credit union, our focus is on improving our members’ financial wellbeing and supporting our local communities. We consider loan applications from people across our communities, including those receiving benefits, subject to eligibility and affordability checks.
- Member-owned and not for profit
- Applications considered from across our communities
- Benefit income can be considered
- Money reinvested into local communities
- Eligible deposits protected by the FSCS
- Fair and affordable financial services
Areas we serve
You can join Clockwise if you live or work in one of the following local areas.
- Leicester
- Leicestershire
- Rutland
- Coventry
- Warwickshire
- Nottingham
- Nottinghamshire
Car Loan: Frequently Asked Questions
Most of our members receive a decision quickly, and once approved, funds are typically transferred to your account within 24 hours.
No. We use a “soft search” for our initial eligibility check. This allows us to see if we can help you without leaving a mark on your credit file that other lenders can see. A full credit check is only performed once you decide to proceed with the formal application.
Your rate is primarily based on the amount you borrow. For example, loans between £3,000 and £10,000 carry a representative APR of 8.7%, while smaller loans under £2,999 have a fixed APR of 42.6%. Your individual circumstances may also influence the final rate offered.
No. Our car loans are completely unsecured. This means we do not register a charge against the vehicle itself. You own the car outright from day one, giving you the freedom to sell or change vehicles whenever you need to.
Yes. Because we transfer the approved funds directly into your bank account as cash, you have the ultimate flexibility. You can buy a brand-new vehicle from a main dealership or a used car from a private seller on the same day.
Absolutely not. If you decide to sell the vehicle early or find yourself with extra cash, you can pay off the remaining balance or make extra overpayments at any time with zero penalty fees.
Ready to pack
your bags?
Join 15,000+ Midlands residents who choose a fairer way to borrow.
Check My Eligibility Now
Clockwise Credit Union is authorised by the Prudential Regulation Authority
and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
All loans are subject to status and approval. Terms and conditions apply. If you do not meet the criteria for a specific lending rate, or if you are unwilling to accept any special conditions that apply, then we may offer you an alternative loan at an alternative rate.