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To empower our members by providing excellent service and sound financial guidance to create partnerships that will result in prudent, progressive and competitive business decisions, yielding mutual success.

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432-302-962

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20 Church Street

Mon - Thurs. 8:30 AM - 3:00 PM
Fri. 8:30 AM - 4:00PM

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Motor Vehicle Loan

The Motor Vehicle Loan provides up to 95% financing on new private vehicles with up to 8 years to repay

Motor Vehicle Loan

 

About This Loan

The Motor Vehicle loan offers members the opportunity to receive up to 95% financing on new motor vehicles, trucks, tractors or trailers, both private and commercial.

What You Need To Know

Up To

95% of Private Motor Vehicles

in Available Funds

8 Years

To Repay

Up To

3 - 5 Working Days

Avg. Approval Time

As Low As

10%

Interest Rate

Up To

 
 

Additional Information

Who is This Loan Primarily For?

Cornwall Business owners wishing to purchase a vehicle

Cornwall Business owners wishing to purchase a truck or trailer for a distribution purpose

Cornwall residents wishing to purchase a new personal vehicle or truck

Cornwall farmers wishing to purchase a Tractor

Cornwall distributors/exporters/importers wishing to purchase a truck or trailer for transportation of goods

Do I Need Collateral To Apply For This Loan?

No, the vehicle will be used as the collateral.

Minimum Amount Disbursed For This Loan?

No Minimum

What Are The Requirements To Apply For This Loan?

  • A valid driver’s license

  • Credit report from a credit bureau

  • Employment Letter

  • 3 recent payslips, where using a guarantor, their payslips and employment letter must be presented

  • Passport sized pictures

  • Sales Agreement or Pro Forma Invoice from Car Dealer/Vendor

  • Valuation Report

  • Copy of Motor Vehicle Title/ Import Entry Document

  • Copy of Fitness and Registration Certificates

  • Insurance Quotation (Comprehensive Only)

  • Road Permit (for vehicles that will be used for commercial purpose)

 
Steps To Apply

Become a member of Gateway

1

Fill out and submit a motor vehicle loan application in branch

2

Submit all required documents

3

Submit proof of ownership/proof of funds for collateral

4

Pay application fee

5

Wait for loan to be processed

6

Receive a call from a Gateway credit clerk

7

Sign relevant documents for disbursement

8

Our Team Stands Ready

If you're interested in any of our loans, we'll pair you with our expert customer service representatives, who will work with you to understand how to bring you to the solution they need.

 

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STILL NOT SURE?

Deciding whether Gateway is the right partner for your loan? We know that this is a long-term decision, and we want to ensure that you are fully informed going into this commitment with us.

 

Learn more about this opportunity by chatting with our agent, or by visiting our Frequently Asked Questions.

 

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