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Online Banking

Vehicle Loans

Make That Move to Put YOU on the Move,
with a Vehicle Loan from SECU!

New
Vehicles

Loan Limit: Up to $300,000.00
Loan Terms: Repayment Period – 8 years (maximum)
Talk to a Loans Officer and find out how you can make your instalments more affordable.

Roll-On/Roll-Off
Vehicles

Loan Limit: Up to $180,000.00
Loan Terms: Repayment Period – 6 years (maximum)

Second-Hand Vehicles

For used locally-purchased or used roll-on/roll-off vehicles, not more than seven years old:

  • Loan Limit and Loan Terms – Same as for Roll-On/Roll-Off Vehicles

For any second-hand vehicle over seven years old:

    • Loan Limit: Up to $40,000
    • Loan Terms:
      • Repayment Period – 4 years (maximum)
      • 50% down payment

Earn dividends on your shares by taking advantage of our flexible down-payment options:

Option A – Apply the down payment towards the purchase of the vehicle and borrow the difference.

Option B – Deposit your down payment to your Shares Account and borrow the total cost of the vehicle.
With Option B, you enjoy the benefit of increased dividends on your shares, and at the end of your loan repayment, you still have your down payment in hand.

Please be advised that the Vehicle Loan can be done to include the Insurance and Legal Fees.

Requirements

  • BIR file number
  • Recent job letter
  • Recent payslip
  • Required down payment
  • A pro forma invoice from a Registered dealer
  • Two valid forms of national identification (must include Driver’s Permit)
  • Full comprehensive insurance for duration of loan
  • Processing fees – $500.00
  • Trans Union Credit Report fees – $75.00

Self-Employed Persons

All documents in ‘Requirements’ above, where applicable, as well as the following:
• Business Registration Certificate
• Proof of income i.e. receipts and/or contracts
• Bank Statements

For Roll-On/
Roll-Off Vehicles

All documents in ‘Requirements’ above, where applicable, as well as the following:
• Valuation Report from an approved valuator with photograph of the vehicle

For Second-Hand Vehicles:

All documents in ‘Requirements’ above, where applicable, as well as the following:
• Agreement of sale letter
• Certified copy of ownership
• Valuation Report from an approved valuator with photograph of the vehicle

Apply online with your Online Banking Account
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