GAME-CHANGING dealership ATL Automotive Group has formed an alliance with Scotiabank to create a “one-stop shop” for fast and hassle-free auto loans.

The entity, dubbed ATL Automotive Finance, opens today and is located at the dealership’s state-of-the-art showrooms in Kingston and Montego Bay.

“This is a strategic move that we’ve been planning for some time and one that puts customers in a position of strength to access their dream car with less wait and less hassle. Now with ATL Automotive Finance, it’s never been easier for persons to purchase any Volkswagen, Audi, Porsche, Honda, Kia, BMW or MINI with this never-before-seen 24-hour approval time as well as access to unique club membership further down the line that will entitle them to a raft of savings on products and services from selected group and third party companies,” said Mike Ellenthorpe, ATL Automotive’s managing director.

ATL Automotive Finance will see car buyers offered competitive interest rates starting as low as 8.25 per cent, flexible payment terms and for up to 100 per cent financing on new and pre-owned cars. The option to include the loan processing fees in the initial amount will minimise the customer’s need to find up front cash will also be available.

David Seivright, head of ATL Automotive Finance Division, spoke to the Jamaica Observer’s weekly Auto magazine about the operations.

“ATL Automotive Finance interest rate is extremely competitive compared to other financial institutions in the market for automotive loans,” he said.

“Persons will be able to receive their quotation and apply for the loan at the same time… and receive their approval in 24 hours… A first for any financial institution. We will have ATL Automotive Finance and insurance specialists in-house who will take care of all the paperwork… In actuality, it will be a paperless system and take place on tablets,” he continued.

Seivright said the loan was opened to members of other financial institutions.

“ATL Automotive customers can be customers of any bank to qualify for the loan,” he said.

To begin the transaction to purchase the car of their dreams, persons will only need to carry their driver’s licence, two recent payslips, a job letter and a proof of address to any Finance & Insurance Specialist at ATL Automotive Finance.

David Noel, chief executive officer at Scotiabank Group Jamaica, said he was pleased with the partnership.

“ATL Automotive has been a longstanding partner for us at Scotiabank and, as two companies committed to providing world-class solutions, there was a natural synergy. At Scotiabank, we’re always working to making processes more convenient for our customers and, now with ATL Automotive Finance, we can offer the easiest auto loan process in Jamaica. We’re proud to be the first financial institution to pioneer this first-ever 24-hour approval time,” he said.

ATL Automotive Finance conveniently operates from any of four locations islandwide: Audi terminal on Oxford Road in St Andrew; Honda Kingston on Hagley Park Road; BMW and MINI on Lady Musgrave Road in St Andrew; and Honda Montego Bay located at Block C, Fairview Plaza in Montego Bay.

Started in 1997, ATL Automotive is the authorised dealer for KIA, Honda, BMW, MINI, Volkswagen, Audi, and Porsche.