Motor Vehicle Loan
It's important to Juscom Motors 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 Juscom Motors 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 have 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)
Want to learn more? We've gathered information about everything from your financing options and some helpful tips on understanding the application process.
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 |
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
What's the best way to finance that luxury dream car? Come in to COK and apply for a motor vehicle loan. You can drive away with up to 100% financing on a new vehicle!
| 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)
Get the car you’ve always wanted today with a loan from NCB. Whether or not you are an existing customer, we want to partner with you in realizing your dreams! Let NCB help you get there, with any of our two incredible loan options
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% | $8M | 7 years |
| 1 year -2009 | 100% | J$3.5M | 5 years |
| 2 years - 2008 | 100% | J$3.5M | 5 years |
| 3 years - 2007 | 100% | J$3.5M | 5 years |
| 4 years - 2006 | 90% | $2.5M | 5 years |
| 5 years - 2005 | 90% | J$2.5M | 5 years |
| 6 years - 2004 | 60% | 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