Tue | Sep 25, 2018

Jamaica National to host island's first 24-hour auto sale

Published:Wednesday | March 9, 2016 | 12:00 AM

With brakes released and gear in drive mode, the Jamaica National Building Society (JNBS) is piloting the country's first 24-hour Auto Sale Day, from 3 p.m. Saturday, to 3 p.m. Sunday.

"This JN Auto Loan Blue Tag Sale comes shortly after JN introduced its Auto Loan product to the local market, " said Donna Mesquita, senior manager, marketing and brand management.

"Our aim is to put all facets of vehicle acquisition under one roof for added convenience and efficiency."

She further explained, "We are sweetening the experience for persons who are interested in purchasing a car, and for those who may be deterred by factors such as the time and process entailed. On the day, all processes to purchase a car will be available. Cars will be on display, from new-and used-car dealers, and, our loan officers will be on duty to provide pre-approvals.

Pre-approval is applicable for purchase of any vehicle that falls within the pre-approved amount, from any seller, not only for vehicles on display at the event, Mesquita stated.

The Auto Loan product was launched with a six-month special of six and eight per cent for new and used cars. However, on Blue Tag Day, there will be a further reduced rate of five per cent on new vehicles for qualified persons.

These promotional rates will be applicable for a period of six months, after which they will return to market rates of 8.9 and 9.85 per cent for new and used cars, respectively.

"When we analysed the current market, prior to launching our product, we recognised the need for affordability and convenience. Our service, coupled with our competitive interest rates, has brought a game-changer to the market. Therefore, we are staging this Blue Tag event, which will complement our efforts to make vehicle ownership a more realistic and cost-effective option for many," Mesquita said.

Alluding to the buzz created by the recent launch of the JN Auto Loan, the senior manager noted, "The 24-hour concept for the sale event demonstrates the out-of-the-box-thinking of Jamaica National to provide convenient services for existing and prospective members.

"We have partnered to mount auto-sale promotions in the past, and what we recognise is that time is a crucial factor for many persons. Ideally, weekends are the best time for these events. However, for some, Saturday is more ideal and, for others, Sundays, because of other obligations.

"With this 24-hour sale day, time or day is no longer a hindrance, as persons can choose the most convenient period to experience and benefit from the promotion."

The event will be held on the grounds of JN, Constant Spring Road.