Motor Vehicle Loan

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Become a member of Gateway

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Fill out all required forms and deposit the minimum opening balance of $3,300 to become a member of Gateway.

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Fill out and submit a motor vehicle loan application in branch

Visit any Gateway branch near you and fill out an application form for the Motor Vehicle Loan.

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Submit all required documents

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In order to apply for a motor vehicle loan, several documents are required. These include:
- A valid driver's license
- Credit report from a credit bureau
- Employment Letter
- 3 recent payslips, wh ... [Click To Read More]

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Submit proof of ownership/proof of funds for collateral

No additional collateral is required for a motor vehicle loan.The motor vehicle would be viewed as the collateral.

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Pay application fee

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The application fee required for a motor vehicle loan is 1.5% of the requested amount.

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Wait for loan to be processed

A motor vehicle loan will take 3-5 days to be processed once the application fee is paid and the required documents are submitted.

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Receive a call from a Gateway credit clerk

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Once the loan is processed, a Gateway representative will call and let you know if the loan has been approved.

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Sign relevant documents for disbursement

Visit the Gateway branch to sign relevant documents for loan disbursement.

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