A vehicle is easy to obtain from the RSCCU before you apply, you need to have 15% of the cost is required to be held in your regular share account.
The requirements are as follows:
Private Use Commercial
Age Repayment Period
< 1 year 72 months 60 months
1-3 years 60 months 48 months
3-5 years 48 months
Over 5 years 36 months
The following documents are required when applying for the vehicle loan.
- Comprehensive motor insurance which must be assigned to the credit union
- Invoice from the seller clearing showing the price
- Statement of affairs showing financial commitment , assets and liabilities
- Bill of Sale on vehicle
- For a used vehicle a comprehensive valuation and report from a recognized mechanic