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· Mortgage Bill of sale required to secure vehicle Loan.
· New cars— Only 1.2 % on a reducing Balance click here
· Foreign used roll on-roll off cars Vehicle must be 1-5 years old.
· Foreign used & local second hand. Roll on Roll of—2nd owner, not more than 7 years old for RORO, local “new” used less than 5 years old.
· Second hand local used over 5 years old - A maximum of $40,000.00, a downpayment of 50% towards shares or cost of vehicle.
Search Fees dependent on length of search
· All processing fees apply even if application is unsuccessful.
EARN PROFITS ON YOUR SHARES !!
Members have the option of applying downpayment towards the purchase of the car or they can enjoy the benefit of placing a downpayment on their shares account and borrowing the total cost of vehicle. With the second option you can enjoy the benefit earning dividends on your shares and at the end of your loan payment you still have your downpayment in hand.
DOCUMENTS REQUIRED
Proforma invoice from Dealer
Certified copy of ownership
Agreement of sale including selling price.
A valuation report from an approved evaluator, with photograph attached (not needed for roll on roll off).
Most recent salary slip
Processing fees $200.00
Evaluation fees
Legal fees—Mortgage Bill of Sale and Search fees (where applicable)
Insurance (full comprehensive)
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