Used Vehicles

Globe Finance Inc. offers easy terms for Used Vehicle Financing. Vehicles are financed under a Hire Purchase Agreement. These terms are:
 

  • Down Payment - Minimum of 15% of cost. (rates vary for commercial vehicles)
  • Repayment Term - The repayment term will depend on the age of the vehicle. Globe does not offer finance for vehicles older than 6 years. Please see table below for financing terms:
       

    Year of Vehicle

    Maximum term

    2006

     3 years

    2007

    3.5 years

    2008

    4 years

    2009

    5 years

    2010

    5.5 years

    2011

    6 years

    2012

    6.5 years

    2013

    7 years

     
  • Interest Rate - 8.5%. (rates vary for commercial vehicles)


You may use our "loan calculator" to calculate your monthly payment.

Globe will require the following information in order to process your application quickly:

For Individuals:

  • A proforma invoice or letter from seller
  • A valuation from the local authorized dealer.
  • Proof of income and employment (i.e. Job letter & two recent payslips).
  • Barbados ID card or Valid Barbados Passport.
  • Valid Drivers License
  • Proof of address
     

For Companies:

  • A proforma invoice or letter from seller
  • A valuation from the local authorized dealer.
  • Copy of Certificate of Incorporation or Business Registration.
  • Company By-laws.
  • Identification and proof of address for the Directors of the Company.
  • Financial Statements or at least 6 months bank statements.

    In all cases the vehicle must be insured "Comprehensive" and the insurance policy must be assigned to Globe Finance Inc.

    Globe Finance Inc. can provide you with a quotation for your insurance through Sagicor General Insurance Inc. and can also give consideration to providing a finance package on your insurance premium covering 80% of your premium over 10 months.

    For further information please contact one of our Finance Executives at (246)-426-4755 or e-mail us at info@globefinanceinc.com.

    You may also complete the online application form and submit it to us.
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