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