Consumer Vehicle Loan

What is a Consumer Vehicle Loan?

A Consumer Vehicle Loan is a fixed term loan repayable in regular instalments covering principal and interest.

Who are we targeting?

Employed customers in need of purchasing motor vehicle for private use referred directly by recognised dealerships only.

Features:

Description

Features 

Minimum Loan Amount

PGK20, 000 

Maximum Loan Amount

 PGK180, 000

 Term

Term of the loan comensurate with the loan purpose Indicative terms are:

  • Purchase new car or used car (vehicle age not older than 8 years).
  • Maximum term of 5 years.

Equity

Evidence of 20% equity is required.

Security

An acceptable vehicle security from an authorised and licensed motor vehicle dealer must be provided.

Requirements

  • Minimum of 2x Valid IDs.1
  • Applicant must be above 18 years of age.
  • 3x Recent Pay slips.
  • Last three months bank statement.
  • Motor vehicle quote from dealers.
  • Details of other loans or credit accounts.
  • Current Employment Confirmation Letter to confirm minimum 12 month service.
  • Must have a salary account with BSP.

Footnote:
1. Driver's License/ Passport/ National ID Card.
* BSP Finance (PNG) Limited Lending Criteria.

Terms and conditions apply.

Our Products

Borrowing for asset purchases, enables clients to use BSPF's money to obtain assets, that will generate income for their business.

About BSP Finance

BSP Finance is a specialist Asset Finance company providing innovative and fast financial solutions to our customers.