Yummi Motors LTD.

Yummi Motors LTD.

VEHICLE LOAN



Yummi Motors wants its clients to easily get financing to purchase their new vehicles, therefore we’ve partnered with several lending institutions to provide you with hassle-free loan.

At Yummi Motors:
We enjoy helping our clients get car financing and complete their vehicle purchase quickly and efficiently. Our customer-friendly and transparent process help our valued customers make the best car financing decision available.

We at Yummi Motors work with leaders in the financial industry and offers you the very best 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.

Fist Caribbean Bank Auto Loan


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

COK Auto 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)
NCB Auto Loan

NCB Logo

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