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