Auto Loans


Members are able to purchase a new or used motor vehicle up to 15 years old or less. The motor vehicle will be used as the collateral, which enables members to benefit from a low interest rate. This loan is calculated on the reducing balance with a maximum tenure of 120 months.

Loan Requirement

  • Last Two months payslip.
  • Proof of Address
  • Valid National Identification
  • Pro forma Invoice/Letter of Intent to sell motor vehicle
  • Share requirement: 5% of the loan amount
  • Valuation Report (not more than three months old). amount
  • Copy of Motor Vehicle Registration and Certificate of Fitness
  • Documentary proof that the vehicle is being comprehensively insured
  • Duty Concession Letter (if applicable) amount
  • C78 (for motor vehicles being imported)


  • Applicants must have an active JPCCU account for no less than 3 months.
  • Funds will be deposited to the dealer
  • 100% financing on New to 2 year old vehicles.
  • Members will be subjected to a credit report.


  • Our loans are insured up to a ceiling of $3M. Arrangements should be put in place to obtain life insurance coverage for the difference, if any.
  • We assist members to pay their motor vehicle insurance, by having members save 1/12th of their annual insurance premium in a deposit account. This amount will be paid out when the insurance premiums become due.
  • Where a motor vehicle being used as collateral for a loan is more than 10 years old, the Credit Union needs to get a mechanical report, indicating that the vehicle is still road-worthy, and can be comprehensively insured.