Put your plans into gear with a loan for a new or used car.
No matter what kind of car, truck vehicle you need, we can help put you in it!
Choose from a variety of loan rates and terms for every budget and timeline.
Let’s get you some money for that vehicle
- Car loans made just for you
Choose from a variety of terms and competitive rates to a monthly payment that works for you.
- Get your new/used vehicle sooner
Our easy application process lets you get your funds in just a few days
Benefits of our vehicle loan offering
No deposit required
100% financing. Zero down-payment.
Competitive rates and terms
Enjoy great rates and flexible terms up to 10 years
Personalised help when you need it
We’re there for you by phone, branch or email
Take the step towards your Auto Loan
Step 1:
Call, email or visit our branch to apply.
You’ll need your personal identification with current address on hand and three recent pay-slips at a minimum.
Vehicle details including model year, mileage and VIN.
Step 2:
We’ll help you determine the loan amount and term that works best for your needs.
Step 3:
Get approved and have access to your funds in days.
Other considerations
Before you buy
Buying a vehicle is an exciting experience, but it can also be overwhelming with so many variables to consider. Here are some helpful tips to make your buying experience a little easier:
- Think about how you plan to use your vehicle, considering things like interior space, car size, maintenance, and gas mileage.
- Do your research, and test drive all of the cars you’re interested in.
- Consider costs beyond the sticker price. As you set your vehicle budget, be sure to factor in additional expenses like fuel costs, registration fees, maintenance, insurance, and repairs. For example, used cars typically have lower insurance costs, but may cost more to finance than a comparably valued new car.
New Vehicles
Considerations when buying a new vehicle:
- Aim for the vehicle you really want within your price range – if there is a color or feature you’re interested in but the dealership doesn’t currently have it, you may still be able to get the model you want. Dealerships often have the ability to obtain specific models not currently in their inventory; however, there may be a charge for doing so.
- Test drive the vehicle you’re interested in – if possible, drive the vehicle in different environments to see how it performs and whether you feel comfortable operating it.
- Explore promotions and manufacturer incentives – be sure to ask about current and future promotions and offers that may lower the price of the vehicle you’re interested in.
- Make sure you fully understand the offer – check the details and the fine print before committing to anything, especially if the offer seems too good to be true.
- Give yourself time to evaluate your options – carefully spend time at the dealership examining the vehicles you are interested in that are within your budget. Try to avoid making a quick decision. Consider all available options.
Used Vehicles
Considerations when buying a used vehicle:
- Take time to inspect the vehicle during daylight hours – viewing the vehicle during the daytime with a dealer or private party gives you the opportunity to take your time to examine it clearly and comprehensively, giving you a better chance to see any potential blemishes, damage, or issues.
- Test drive the vehicle you’re interested in – if possible, drive the vehicle in different environments to see how it performs and whether you feel comfortable operating it.
- Use services like VFI to examine the vehicle’s history – find the vehicle’s service records, how many previous owners it’s had, and whether it has ever been in an accident.
- Have a mechanic inspect the vehicle before buying – if possible, take the vehicle to a trusted mechanic before you purchase. Make your offer contingent on a successful inspection.
- Look into certified warranty pre-owned programs – see if the vehicle manufacturer offers a free certified pre-owned warranty for your used vehicle.
Personal FAQs
- Are there any fees associated with the application?
Refer to our schedule of rates and charges for further details.
- How do I receive the funds?
Your approved funds will either be paid directly to the seller of the vehicle either by cheque or direct transfer to their bank or credit union account.
- How do I make monthly loan payments?
We make it easy for you to make payments by the method most convenient for you.
- Set up of a monthly salary deduction by your employer
- You can set up a standing order to establish monthly automatic payments from any eligible credit union or bank account to our CAPITA Bank accounts held at CIBC Barbados and RBC Royal Bank of Canada.
- Any branch of Sure Pay
- Pay over the counter at any branch of the Barbados Public Workers Credit Union
- Pay over the counter at our CAPITA office