Do you know that car loans in Nigeria are possible and stress less, several companies offer car loan services in Nigeria.
While many may believe that cars are a luxury, however, it can be essential. The significance of having cars is more evident when you must go to the hospital late in the night to take an excursion with your family or go out for a night.
The majority of the time, cars for personal use allow for mobility and convenience.
But, getting cars can be difficult for some people due to lower income. Car loans are the most effective way to help you make your dream of owning an all-new car a reality.
Many institutions provide car loans in Nigeria wwww2which means you can pay them back easily.
If your older vehicle is causing you plenty of problems, demands regular maintenance, needs frequent maintenance, etc It’s about time to trade in that car in exchange for a brand-new one.
Table of Contents
1. Betacar Financing
Betacar is a top company that offers car loans in Nigeria that intends to redefine how car purchasing should be done in Nigeria. Betacar’s loan plan is known as BetaCar Financing. This offers salaried and business owners with structured businesses in Nigeria the chance to purchase quality Tokunbo cars that have been certified by the manufacturer and pay for them over 12-24 months.
The most fascinating aspect of BetaCar funding is that your vehicle should be available for pickup within a week of submitting an application that is complete. For more information visit betacar.com and visit the BetaCar website and click:
- Browse for cars that are available to choose the vehicle you prefer.
- Use the simple loan calculator for your chosen vehicle to calculate the upfront deposit needed, the monthly repayment, and the time frame for payment.
- Select the “Apply For Loan” “Apply for Loan” button and then fill out the pre-approval assessment form.
- You will receive an email confirming your approval or rejection after 10 minutes.
- If your application is approved, you’ll be sent an email containing the required documents and you should begin to prepare your documents.
- Visit the Betacar headquarters for a visit and a test drive.
- Scan all required documents and submit them as a reply to the email address (21******63f@a***f.com).
- Betacar’s staff will review your application and notify you once your application is complete.
2. UBA Auto Loan
This loan is an offering of United Bank for Africa to offer you the chance to drive your dream car while you repay the loan without any hassle. UBA car loans in Nigeria have been said to be the best in the industry.
The approved brands of cars that are included in the scheme are approved brands include Toyota, Honda, Mitsubishi, Hyundai, Mercedes, Nissan, Ford, Suzuki, Kia, and Volkswagen.
To get started:
- Visit any of the authorized auto vendor stores to get an invoice pro forma (PFI) for items you prefer.
- Visit any UBA branch to fill out an application for a loan.
- Make an offer letter that outlines the terms of the loan and its requirements after the approval of the loan.
- Take your vehicle of choice at the dealership.
3. Autochek financing
Autochek is an automotive technology firm that seeks to create digital solutions. Autochek financing can make purchasing your dream car easy for you because it allows you to purchase your car today and then pay it back over time. Autocheck car loans in Nigeria are no doubt the most popular among the rest, Autocheck is available in most car dealers outlets in Nigeria. To get started:
- Fill out a simple request on the Autochek website to receive the best cars for you to pick from
- Pick a car, and then review the finance terms
- Request a loan and get personalized offers
- Take advantage of a loan and then drive home in the dream car of your dreams.
4. FCMB Auto Loan
FCMB’s consumer credit program allows those who qualify to finance part of the purchase of vehicles to use for their personal needs.
Customers may own a vehicle and pay back the loan over a set period. The loan can be applied for via the FCMB loan portal or at FCMB branch branches. The loan comes divided into two categories: FCMB Auto Loan Alliance and Standard Auto loan.
- FCMB Auto Loan Alliance: With this loan, you will have the option of up to 30 million to buy your dream Tokunbo automobile, at rates of as low as 20 percent per year.
- A Standard auto loan is a good option if employed in a structured job or are self-employed with a regular income, you are eligible to get this loan to buy vehicles from dealers that have been prequalified and accepted the terms of an SLA to the institution. You can take out up to 30 million dollars and pay it back over 12 to 60 months.
5. Cars45 financing
Cars45 Brand is a website that provides users with the possibility to buy vehicles on the internet and offline. Cars45 offers car financing that allows customers to receive loan approval in just 72 hours and pay back as long as 12 months with an interest rate of 2.5 percent interest per month.
To be eligible in this program, applicants need either be a salaried payee or a licensed business proprietor.
To get started:
- Go to buy.cars45.com as well as any of the Cars45 retail stores to start your application
- Choose a vehicle that is available to finance (Grade A, B, or C vehicle with a maximum price of N3,000,000)
- Enter your information within your details in the “Get Car Loan” section then click “Get Prequalified”
- Follow the prompts and answer all questions asked.
- Click “Submit” and a Cars45 representative will contact you within 24 hours.
6. Stanbic Ibtc Vehicle and Asset Finance
This scheme of loan is part of StanbicIbtc bank which allows you to obtain financing for your vehicle with flexible and reasonable payment terms.
To qualify for a loan, you must:
- An application form that is completed
- Income proof or evidence of an income
- Proforma invoices for your vehicle or another asset that you want to use (preferably from a Stanbic IBTC partner dealer)
Or you may visit StanbicIbtc’s nearest branch or call 01 422 2222 or email 21******63f@a***f.com
7. Creditville Auto Car Loan
This product is the work that is the product of Creditville Limited – an asset management company as well as a private lending institution that is registered in Nigeria and has business interests in Consumer Finance, Real Estate, and Capital Markets.
The loan is intended for those working for a salary to purchase a private vehicle(s) only to be used for personal purposes. To get started:
- Take the time to review the requirements for a car lease and If you are satisfied, fill out the auto lease online application properly and then submit the car loan application
- You will be contacted by a Creditville agent to go to the stage of vehicle inspection
- The paperwork needed to get the car loan is compiled and then reviewed by the credit representative then the loan Car Loan is approved.
- The money you need to purchase the car is paid out or keys to any of the vehicles available are handed to you.
8. FirstBank Automobile Loans
This scheme of loans is a service by FirstBank of Nigeria to help you purchase the car of your dreams within an extremely short period. If you’re employed in a paid position and are in a position to earn a salary, then this loan is the one for you.
To begin, install the Automatic Loan Application Form from the First Bank website. Complete the form and return it to the nearest FirstBank branch. Other documents needed to approve the loan are:
- Application letter
- Proforma invoices from vendors who are FirstBank-approved
- Payslip for the past three months
- Statement of account
- Letter of the total amount of emolument.
9. Access Bank Car Loans
Access Bank Plc. It offers various auto loan plans that you can pick from to finance the dream car you’ve always wanted. These include:
- Access More Mileage This product offers customers the chance to buy an all-new car for as little as N170,000 per month. For more information, fill in the form of interest through Access More Mileage’s Access More Mileage portal and you’ll be connected to one of Access Bank’s team. You can also go to the branch of Access Bank closest to you.
- Easy Purchase Finance with GAC Motors:You can buy a brand new GAC GA3 or GAC GA4 with a low-interest rate by utilizing this program. To start, you must fill in the application in the Easy Buy Finance Scheme portal to begin and an Access Bank team will get in touch with you. It is also possible to visit the closest branch of Access Bank close to you.
- Hyundai Auto Loan Promotion This means that you will be able to purchase selected Hyundai cars with an unbeatable rate of interest with a wide range of freebies for an employee, business, and corporate account holder from Access Bank. To begin, go to the branch of Access Bank closest to you. You’ll need to get an invoice Pro forma by Hyundai Motors addressed “Access Bank/Customer’s name”.
- AutoClub from Access It is a one-stop shop designed to satisfy all of your automotive requirements. Access Bank provides exclusive auto-related services, from purchase, maintenance, and use to disposal, and many more. To start, you must fill in the form of interest on the AutoClub via the Access portal, or go to the closest Access Bank branch near you.
10. Opticom Finance Vehicle Finance Lease
This product is the work of Opticom Finance Limited – a Non-Bank Financial Company operating since 1998. Opticom Finance aims at giving the best car ownership experience for customers by providing simple, flexible, and affordable financing. Opticom is also able to assist with financing pre-owned automobiles.
To begin, visit the car finance lease website, enter your information, then hit the calculate button to calculate the monthly installments.