FUNDING REQUIREMENTS
What We Look For:
- Stable job and residence
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- Minimum of 20% down
- Reliable, bondable professional independent used car dealers
- It is very important that there is trust and respect between the dealer and the finance company or the relationship will be terminated promptly.
- Dealer application must be filled out and approved before the funding of any deal. THIS IS REQUIRED BY NYS BANKING DEPT.
What We Require:
- Proof of income as stated on application (JFC does approve deals with out proof of income on a case by case basis)
- Proof of residence – phone bill, utility bill, or cable bill
- Five personal references filled out completely
- Tracking devices (on most vehicles)
Dealer Must Supply:
- Contracts filled out with correct calculations
- Required signatures in the proper places
- Original credit applications (no photo copies)
- For deals including co-makers or co-buyers, a disclosure form must be filled out and signed
- All requested stipulations
- Signed addendum acknowledging tracking device installation
- A copy of all applicants drivers licenses
- A copy of the Bill of Sale (which states total sale price, down payment and amount financed)
- A copy of title, MV50 and MV82 showing Jamaica Finance Company as lienholder:
Jamaica Finance Company
13810 Hillside Avenue
Jamaica, NY, 11435
Lien # 66770
WE APPROVE:
- We Finance Commercial and Livery Vehicles
- TMU and Salvage Vehicles
- Older Vehicles
- No Proof of Income
- Equity Deals
- Credit Problems
- No Credit
- 1st Time Buyers
- No Full-Coverage Insurance Required
- No Binders