Loans

Vehicle Loans

Insurance Financing

Are you thinking about buying a new car?

At this time of year many people are thinking about a car. Whether the vehicle is new, used or reconditioned, a vehicle is one of the most important investments that you will make.

A vehicle loan from CAPITA FINANCIAL could help you drive away in the vehicle that you have been saving hard for.

We offer 90% financing for new vehicles with a maximum repayment period of seven (7) years and up to 85% financing for used vehicles at very competitive rates.

You will be required to submit the following documentation when applying for a vehicle loan from us:

 

New Vehicles

  • Job letter
  • Recent salary slip (No older than 3 months)
  • Two valid photo IDs (Driver’s License, Passport, National I.D. card)
  • Proof of address (Copy of a Utility bill)
  • Vehicle invoice from the Seller – must include a detailed vehicle description including chassis number, sale amount and deposit paid where applicable.
  • Last six months Credit Card statement, Loan and Deposits Account statements
  • If self-employed – Financial Statements (Profit & Loss or Income & Expense statement & Balance Sheet for the last two years), Bank Statements for the last six months and Business Registration document

 

Used Vehicles

  • Job letter
  • Recent salary slip (No older than 3 months)
  • Two valid photo IDs (Driver’s License, Passport, National I.D. card)
  • Proof of address (Copy of a Utility bill)
  • Copy of Seller’s ID
  • Letter from the Seller indicating Sale Agreement – must include a detailed vehicle description including chassis number, sale amount and deposit paid where applicable.
  • Last six months Credit Card statement, Loan and Deposits Account statements
  • If self-employed – Financial Statements (Profit & Loss or Income & Expense statement & Balance Sheet for the last two years), Bank Statements for the last six months and Business Registration document
  • Current Valuation from a Certified Garage
  • Current Insurance Certificate
  • Vehicle Inquiry from Transport Board – must have a most recent stamp from Transport Board
  • Photos of vehicle including engine and chassis number
  • Imported Vehicle – Current Customs documents with detailed vehicle description

 

 

Pay your insurance premiums by the month

CAPITA FINANCIAL will finance your general insurance premiums and arrange for its payment when it is due on your behalf. You then repay CAPITA FINANCIAL by way of monthly instalments. We can finance the premiums on most commercial and residential insurance policies.

 

CAPITA FINANCIAL will finance 70% of the cost of your premium with a maximum repayment period of eight (8) months.

 

The benefits of premium finance to you:

  • Budgeting of cash flows - The key benefit of premium finance to you is that the monthly premium instalment can be part of your budgeting process. Rather than having to allow for large payments of premium at a certain time during the year, the monthly payment can be scheduled along with rent, utilities and payroll.
  • Increased leverage of available assets - Business loans require an asset to be mortgaged as collateral and many companies are limited in their borrowings by the amount of unpledged assets. Premium finance allows you to be able to use the asset of the insurance policy to secure a loan. This leaves other assets on the balance sheet untouched and free for other uses.
  • Alternate source of capital - By using premium finance you do not have to use other sources of capital. Premium finance offers an additional line of credit to assist in cash flow management.
  • Fixed rate for the period of the loan

 

If you would like to know more about insurance premium financing,
please contact CAPITA FINANCIAL via email: st.lucia@capitacaribbean.com
or give us a call at (758) 451-LOAN (5626).

Capita Financial Services

William Peter Boulevard,

Castries, S t. Lucia

Saint Lucia.

Contact: (758) 451-5626

st.lucia@capitacaribbean.com

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