Car Loans
First-Time Car-Buyer Program
The First-Time Car Buyer program at GIC Coop is meant to assist our young members with a job get a vehicle at a reasonable rate. The program is available to qualifying members, based on approved verifiable collateral and other established requirements, such as a verifiable employment record.
A First-Time car buyer is someone who has:
No previous Car financing history
Under 27 years old
Qualifications for First-Time Car-Buyer Program:
Must be at least 18 years old and not over 27 years old,
Must be employed for a minimum of one year, or have a qualified co-signer, or recently graduated with a 4 year degree or from an accredited technical college.
Have no previous Car financing history and no derogatory reputation ,
Minimum gross income requirement is 200 000Fcfa,
Monthly payment not to exceed 20% of gross income, including insurance premium,
Proof of auto insurance required,
Maximum auto loan amount is 5Million Fcfa, and
Must provide a minimum of 5% cash down (having a qualified co-signer may reduce or eliminate the need for a cash down payment). plus a reasonable tangible collateral
Do you qualify? Apply today!
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