VEHICLE (NEW AND ROLL ON/ ROLL OFF)
Key Financials
- Interest Rate: 1.25%
- Share Ratio: 4 to 1
- Repayment Period: Maximum 7 years
Requirements
- Salary Slip (Recent)
- Form of ID (Valid)
- Pro Forma Invoice
- Qualifying Shares (i.e. Shares not held against existing loan)
IMPORTANT NOTES
- Rates and terms are subject to a full credit assessment and credit check
- Mortgage bill of sale will be done for new and roll on/ roll off vehicles.
- Fully Comprehensive Insurance Coverage is EXPECTED for a minimum of three (3) years. Quotation MUST be submitted when filling out loan application form. 10% of the loan will be released, once approved. A Mortgage bill of sale is drafted by UWICU’s Attorney.
- Accepted Insurance Companies are – Tatil, Colfire, Sagicor, Guardian and Maritime Insurance.
- Original Insurance Certificate MUST be submitted to Credit Union’s Office, for a verified copy to be placed on file.
PREVIOUSLY OWNED VEHICLE (UNDER 5 YEARS)
Key Financials
- Interest Rate: 1.25%
- Share Ratio: 4 to 1
- Repayment Period: 5 years
Requirements
- Salary Slip (Recent)
- Form of ID (Valid)
- Invoice or Offer of Sale
- Insurance Estimate (full comprehensive for at least 3 years)
IMPORTANT NOTES
Cheques will be made payable to the last owner stated on the certified copy. It is recommended that a search be performed on the vehicle.
PREVIOUSLY OWNED VEHICLE (OVER 5 YEARS)
Key Financials
- Interest Rate: 1.25%
- Share Ratio: 2 to 1
- Repayment Period: 5 years
Requirements
- Salary Slip (Recent)
- Form of ID (Valid)
- Invoice or Offer of Sale
- Certified Copy of Ownership
- Copy of Owner’s ID
- Qualifying Shares (i.e. Shares not held against existing loan)
IMPORTANT NOTES
Cheques will be made payable to the last owner stated on the certified copy. It is recommended that a search be performed on the vehicle.