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It's important to us that you can easily get financing to purchase your new vehicle. To help, we’ve partnered with several lending institutions to provide you with hassle-free financing options. |
At Wheels and Wheels Auto our goal is simple:
Help our clients obtain car financing and complete their vehicle purchase quickly and efficiently. The process is customer-friendly, transparent and reflects our company's culture of integrity—which helps our customers make the best car financing decision possible.
The financial institutions with which we work are industry leaders who offer a variety of attractive terms. These institutions include National Commercial Bank (NCB), First Caribbean International and City Of Kingston Co-operative Credit Union (COK).
Please see rates and requirements below:
National Commercial Bank -NCB Auto Loan
Regular
Interest Rate 20.75%
| Age Of Vehicle |
Maximum Financing % |
Maximum Loan Amount |
Repayment Period |
| New 2009 |
100% |
$8M |
7 years |
| 1 year -2009 |
90% |
$6M |
6 years |
| 2 years - 2008 |
90% |
$4M |
5 years |
| 3 years - 2007 |
80% |
$3M |
5 years |
| 4 years - 2006 |
80% |
$2.5M |
4 years |
| 5 years - 2005 |
70% |
$2M |
4years |
| 6 years - 2004 |
60% |
$1M |
3 years |
| 7 years - 2003 |
60% |
$0.6M |
2 years |
Salary Advantage
interest Rate 24.75%
| Age Of Vehicle |
Maximum Financing % |
Maximum Loan Amount |
Repayment Period |
| New 2009 |
100% |
J$3.5M |
6 years |
| 1 year - 2009 |
100% |
J$3.5M |
5 years |
| 2 years - 2009 |
100% |
J$3.5M |
5 years |
| 3 years - 2007 |
100% |
J$3.5M |
5 years |
| 4 years - 2006 |
90% |
J$2.5M |
5 years |
| 5 years - 2005 |
90% |
J$2.5M |
5 years |
| 6 years - 2004 |
90% |
J$2.5M |
4 years |
| 7 years - 2003 |
90% |
J$2.5M |
4 years |
What documents are required from prospective borrowers
- A Salary verification letter
- Your last three (3) pay slips
- A pro-forma invoice from the dealership
- A personal financial statement
City of Kingston Co-operative Credit Union - COK Auto Loan
| Age of Vehicle |
% in shares |
% Financed |
Term |
Rate |
| 2009 |
5% |
100% |
Up to 84 months |
19.95% |
| 2006-2008 |
10% |
90% |
Up to 66 months |
24% |
| 2004-2005 |
10% |
90% |
Up to 60 months |
24% |
| 2003 |
15% |
90% |
Up to 54 months |
25% |
| 2002 |
15% |
90% |
Up to 40 months |
25% |
| 2001 |
15% |
90% |
Up to 36 months |
25% |
What documents are required from prospective borrowers
Salaried Employee:
Completed application form (with contact information of 2 relatives & references)
Current valuation (done in the last 6 months)
Certificate of Fitness and Certificate of Registration
Copy of Title *
Salary verification letter stating position, length of employment
Employment and income verification letter from employer address to bank
Last 2 months salary slips
Qualifying shares
Copy of valid Jamaican driver's licence, Voter's ID,COK ID)
Passport size picture
Copy of Tax Registration Number(TRN)card
Pro-forma invoice from car dealership
Proof of address - Example recent utility or any other bill in prospective borrower's name and current address.
Valuation report**
Copy of last 6 months bank statement or savings book
Proof of payment of deposit on vehicle eg. Copy of receipt from car dealership
If self-employed:
- Financials prepared by a certified chartered Accountant & stamped
- Income & Expenditure Statement
- Balance sheet
- Cash Flow Statement
- Cash Flow projections (for at least three years)
** Approved Valuators: Caribbean Loss Adjustors; Management Security Consultants; Automobile Valuators & Consultants; Auto Assessors Ltd, Advance Insurance Adjusters,
Orion Loss Adjusters, MVA Motors Consultants Ltd.
Notation: Vehicle must be comprehensively insured & open for one year.
All loans will be salary deducted where applicable.
Fist Caribbean Bank Auto Laon
| Age of Vehicle |
Interest Rates |
% Financed |
Ratio Deposit |
Repayment Period |
2009 (New Over $2.5M)
|
22% |
90% |
10% |
84 months |
| 2009 (New Under $2.5M) |
22..25% |
90% |
10% |
72 months |
| 2008 |
22.75% |
90% |
10% |
60 months |
| 2007 |
22.75% |
90% |
10% |
60 months |
| 2006 |
23.25% |
85% |
15% |
48 months |
| 2005 |
23.25% |
80% |
20% |
48 months |
| 2004 |
23.75% |
65% |
35% |
36 months |
| 2003 |
23.75% |
60% |
40% |
24 months |
| 2002 |
23.75% |
55% |
45% |
18 months |
What documents are required from prospective borrowers
Salaried Employee:
- Complete application form
- Employment and income verification letter from employer address to bank
- Last 3 months salary slips
- Copy of valid Jamaican driver's licence
- Copy of Tax Registration Number(TRN)card
- Pro-forma invoice from car dealership
- Proof of address - Example recent utility or any other bill in prospective borrower's name and current address.
- Valuation report
- Copy of last 6 months bank statement or savings book
Self-employed Person:
- Complete application form
- Financial statement for last 3 years
- Copy of last 12 months bank statement or savings pass book
- Copy of driver's licence
- Copy of Tax Registration Number(TRN)card
- Pro-forma invoice from car dealership
- Evidence of portion of cost for vehicle and that funds are available for comprehensive insurance for at least 6 months
- Valuation report
- Credit report or print out on loan
Please Note: Rates are subject to change without notice.To obtain financing customers MUST be approved by the financial institution.
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