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Vehicle Loan

Thinking about purchasing that vehicle you have seen online, buying from a local reseller, or even purchasing a used vehicle locally?


Tired of waiting at bus stops?! Then we have a loan that will get you driving today.


This loan special offers a repayment period of up to 5 years.

Interest Rate

This loan has a 0.5% monthly interest rate on the reducing balance.

Other Requirements

Drive your dream loan is open to all members of the Credit Union.

Become a member today and you can apply.

Members must have 10% of the loan amount in either shares or savings.

The SVG Teachers Co-operative Credit Union Vehicle Loan provides you with the finance needed to purchase your dream ride. Let us put you in the driver’s seat.

Normal Vehicle Loan Requirements:

  • Applicant(s) must have up to 20% of the cost of the vehicle in their Share Deposit and or Deposit Accounts.
  • Relevant detail on the vehicle to be purchased including an invoice, a recent valuation, registration form, and the cost of a comprehensive type insurance policy on said vehicle.
  • A valid driver’s license
  • Proof of income – This includes a job letter and/or the most recent salary slip.
  • Proof of address – this includes utility bills.

The maximum repayment period is as follows:

New vehicles: Five (5) years
Used  or re-conditioned vehicles: Four (4) years

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