Commercial Auto Loan

Product Overview

The Commercial Auto Loan is a lending facility offered to sole traders, companies or other corporate legal entities for the purchase of motor vehicles for use in their trade or business.

Product Details

Target Groups
  • Age Range: Age range: 18-64
  • Gender: No restrictions on gender
  • Characteristics:
    • Employed persons
    • Self-employed persons
    • Small businesses
    • Entrepreneurs
    • Corporations and Institutions
Features
  • Up to 90% financing available
  • Up to 9 years to repay
  • Interest Rate as a low as 9% per annum
  • Processing fee of 2% plus GCT
  • DSR- Debt Servicing Ratio of 40%
  • The loan is denominated in Jamaican Currency Only
Selling Points
  • Creditor Life is Optional- The Owner(s) of the business will be the person(s) insured
  • Low monthly payments
  • Fast loan processing
  • No penalty for early repayment
  • Loan decision in three to five business days
  • Lower Interest Rates
  • Low processing fees

Commercial Auto Loan

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