Car Loans

Car loans to Methodist presbyters and deacons

At MCA we provide car loans to assist Methodist presbyters and deacons in carrying out their duties.

Applications are invited from any Methodist presbyter or deacon (including probationers) who is resident in Great Britain and full time on station.

The benefits of MCA car loans

Size of loan

for new cars up to £12,000 repayable over a period of up to 4 years
loans are available for used cars which are less than 2 years old and with under 30,000 miles
the loan will be up to 90% of the price of the car to be purchased

Repayment of loan

by deduction of equal amounts from monthly stipend for the period of the loan

When to apply

as soon as possible. Some preparatory steps can be taken even before a particular car is identified
we will act promptly in giving both an initial response and a firm decision

"I am very grateful to you for such an easy, clear and speedy process"

Interest rate on car loans

6.25%APR fixed for the entire period of the loan

A discount of 0.5%APR will apply where the loan is to purchase a vehicle in government bands A to F for CO₂ emissions (see carfueldata.direct.gov.uk/).

Car loans