About Vehicle Loans

At COB, we believe in making your life as easy as possible. Travel in comfort in your own ride when you obtain a COB Vehicle Loan.

Vehicle Loan Products

Below are the categories of loans on offer and the documentation required to make applications for these loans.

  • Two (2) recent pay slips.
  • Proof of current mailing address (No older than three months).
  • Pro forma Invoice from vendor which must include engine/chassis numbers, make, model and cost.
  • Quotation for comprehensive insurance from a recognized dealer.
  • Valuation from recognized dealer.

New Vehicles

Persons applying for new vehicle loans are required to supply us with the following:

  • A Proforma Invoice for the vehicle
  • A quotation for Comprehensive Insurance coverage.

Used Vehicles

Persons applying for used vehicle loans are required to supply us with the following:

  • A letter from the vendor which confirms sale of the vehicle. This letter should also include engine/chassis number, make and model of the vehicle and the agreed selling price
  • A Roadworthy Certificate from a recognized garage
  • A Valuation Report from a vehicle distributor or recognized garage
  • A quotation for Comprehensive Insurance Coverage

Used vehicles should not be older than six (6) years old. A percentage deposit of the total cost of the vehicle must also be on the account at the time of the application.

Vehicle Loan Requirements

Below are the documents required to make and application for this category of loan:

  • Two (2) recent pay slips.
  • Proof of current mailing address (No older than three months).
  • Pro forma Invoice from vendor which must include engine/chassis numbers, make, model and cost.
  • Quotation for comprehensive insurance from a recognized dealer.
  • Valuation from recognized dealer.

Vehicle Loans Benefits

  • Competitive rates
  • Easy payment terms
  • Quick approval
  • Online application
  • No deposit on New Vehicles
  • Free gift while stocks last*

Fast Turn Around

Our turn around time for a loan secured by your savings is the same day. For regular loans it should not exceed a week.

Competitive Interest Rates

Borrow at great interest rates to help overcome a short-term financial hurdle.

Vehicles Loans FAQs

Our turn around time for loan secured by your savings is the same day. For regular loans it should not exceed a week. Mortgages are more involved as there is the need to be processed by a legal entity and therefore will take longer.

We lend on the strength of your security, but not in every case. The application will be assessed on an individual basis.

There is an assessment process. If lending is approved you may be called on the same day or at latest the following day.

For loans approved during the 1st and 10th of the month, repayment is the end of the current month. Repayment will commence at the end of the following month on all loans approved after this date.

It is our policy to have a record of the payee and is in keeping with what you requested.

Click on the ‘Request a loan’ link on the top right side of the menu bar. Follow the instructions there. You will need to be a member and provide two most recent pay slips.

There is no policy on this. Every member’s situation is different.

Request a Quote

Apply for a personal loan online, provide your details below in the application form and a representative will get back to you.



    This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.