Notation: Vehicles must be comprehensively insured & open for one year. All loans will be salary deducted where applicable

TERM AND INTEREST RATE STRUCTURE ON MOTOR VEHICLE LOANS BEING REPAID BY SALARY DEDUCTION & STANDING ORDER

TERM AND INTEREST RATE STRUCTURE ON MOTOR VEHICLE LOANS BEING REPAID BY OVER THE COUNTER

• Job Letter stating salary, position, length of employment; plus, last two months’ pay slips
• Print Out of savings/current account transactions for at least 6 months OR updated bank book
• IF SELF-EMPLOYED: Financials prepared by a Certified Chartered Accountant & stamped Income & Expenditure Statement for the last 2 years
  • Balance Sheet
  • Cash Flow Statement and Cash Flow projections (for at least three years)
  • Credit reference
  • Print out of savings/current account transactions for at least 12 months OR updated Bank Book
• Tax Registration Number (TRN) Card
• Valid ID (Driver’s Licence, Voter’s ID, COK ID); VALID Jamaican Driver’s Licence** Passport size photograph
• Completed Application Form with contact information of two relatives & two references (non-related)
• Completed Expense form and Statement of Affairs (to be provided by COK)
• Recent utility or any other bill in member’s name with current address (Proof of Address)
• Current Valuation **(done in the last 3 months) – Valuations must include front, back, embodied chassis # on vehicle and VIN plate pictures.
• Approved Valuators: Caribbean Loss Adjustors; 2. Management Security Consultants; 3. Automobile Valuators Consultants; 4. Auto Assessors Ltd., 5. Advance Insurance Adjusters, 6. Orion Loss Adjusters, 7. MVA Motors Consultants Ltd.
  • Pro Forma Invoice (reflecting the price of the vehicle
  • Import Entry – C87 (all pages)
  • Certificate of Fitness and Certificate of Registration
  • Copy of Title**
  • Evidence of deposit on motor vehicle – Receipt (see deposit and share requirements for motor vehicles)

ADDITIONAL INFORMATION

1. Mechanical reports are required for vehicles over 5 years old where the mileage when calculated exceeds the motor vehicle industry standards for Jamaica of an average of 12,000-20,000 kilometers per year for vehicles being purchased or offered as security.
2. Financing of Nissan AD and Toyota Probox motor vehicles, 2019 and newer will be reviewed on a case-by-case basis for Technicians/Sales Representatives

1. Financing WILL BE provided for the following vehicles (2019 and upwards): –

     Hyundai Brand Mazda Brand KIA Brand

1. Financing is not offered for Salvage or Rebuilt Vehicles (Salvage Title)
2. d) Left-hand drive vehicles will be reviewed on a case- by case

     Guarantor (if applicable)

Job Letter stating salary, position, length of employment; plus, last two months’ slips

Print out of savings/current account transactions for at least 6 months OR updated bank book (if required)

IF SELF-EMPLOYED: Financials prepared by a Certified Chartered Accountant & stamped Income & Expenditure Statement for the last 2 years

Balance Sheet

Cash Flow Statement and Cash Flow projections (for at least three years)  Credit reference

       Print out of savings/current account transactions for at least 12 months OR updated bank book

Tax Registration Number (TRN) Card and Valid ID (Driver’s Licence, Voter’s ID, and COK ID)            Passport size photograph

Signed guarantor form witnessed by a Justice of the Peace

Recent utility or any other bill in the guarantor’s name with current address (Proof of Address)

PANEL OF MOTOR VEHICLE VALUATORS