No1 CopperPot: Understanding car finance options

With so many financing options available it can be tough to know which one is right for you. But what if you could choose an option where there’s no upfront payment, no final lump sum, and the car will be owned outright by you?

This is why many of No1 CopperPot members purchase their vehicles with the help of No1 CopperPot Member Loan. Find out more about the different finance options below.

You might have heard of Personal Contract Purchase (PCP), car leasing or a personal loan as the most popular options for financing a car, but what are the key considerations and differences?
The best option for you depends on your needs and personal circumstances. You can read more about the differences in finance options on No1 CopperPot Credit Union’s latest news article.

Please ensure you have read and understood the General Loans Terms & Conditions and the Member Loan Terms & Conditions.

Missed repayments could have a negative impact on your credit file.

All loans are subject to affordability and No1 CopperPot lending criteria.

With No1 CopperPot’s Member Loan, you can borrow up to £35,000 over a maximum term of 96 months, with rates starting from 7.9% APR. We value transparency, so the rate you see is the rate you’ll get, subject to approval, with no ‘representative APR’ anywhere to be seen…

To get started, use the online loan calculator to easily find the best loan option for your budget and see which one fits your financial situation.

The No1 difference:

  • No deposits or balloon payments: Say goodbye to upfront costs and surprise payments at the end of your term. No1 CopperPot’s Member Loan is simple and transparent, with no hidden fees.
  • Immediate ownership: Unlike PCP and leasing, where you have to wait to own your car, this Member Loan gives you full ownership right away. This means no mileage restrictions, no wear-and-tear penalties, and complete freedom to modify or sell your car whenever you choose.
  • Applications are based on your ability to repay, not just your credit score.
  • No early repayment fees. Planning on doing overtime? Use any extra cash to repay your loan faster without penalties.
  • Make loan repayments through payroll deduction, available in most UK police forces.
  • Life Protection is included. T&Cs apply.

Not already a member?

No problem, apply for membership at the same time as your loan.

You must first become a member of No1 CopperPot Credit Union before applying for this product. As part of membership you must save a minimum of £5 into a Member Account. Number One Police Credit Union Limited trading as No1 CopperPot Credit Union is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Reference Number (FRN) 213301. For details visit http://www.fca.org.uk.