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Car hire purchase in Nigeria guide: List of Car Hire Purchase Company

Car hire purchase in Nigeria
Car hire purchase in Nigeria guide: List of Car Hire Purchase Company

Car Hire Purchase – Owning your car should not be a case where you have to empty your bank accounts just to get a car, though a car is an expensive property. A lot of people have experienced bankruptcy just to pay for a car they need, and this should not be the case. As a result of this, a car hire purchase service should be used. Hire Purchase simply means buying a good or property and paying for it in instalments. You don’t have to pay for it at once, but the total money can be split into smaller part payments to allow ease of repayment.

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Many people dream of becoming car owners in Nigeria, but paying for a car in one sitting is a luxury especially knowing the economic situation Nigeria faces. So, what is the best way out of it? The best way out of it is by buying a car through the Car Hire Purchase method. The necessity of a car in Nigeria cannot be over-emphasized, because it is needed for daily commuting especially if you live in a city like Lagos in Nigeria.

If you are interested in learning about how to buy a car using the Car Hire Purchase method, then stick through this article to guide you.

First, what is a Car Hire Purchase?

Car Hire purchase, simply put, is a process where you buy a car with an agreed plan to repay the total money of the car over a period of months or years, depending on the agreement. Hire purchase is an approach to fund purchasing a new or utilized vehicle. You (generally) take care of a deposit and pay the estimation of the vehicle in regularly scheduled payments, with the loan made sure about against the vehicle. This implies you don’t claim the vehicle until the last instalment is made.

As a rule, you first need to put down a deposit on the vehicle you need to purchase. This is generally 10% or a greater amount of the vehicle’s value. The rest of the estimation of the vehicle will at that point be paid off in portions over a time of 12 to 60 months (one to five years). Hire purchase is orchestrated by the vehicle seller, yet online stores or physical stores likewise offer this service. The rates are serious for new vehicles, but less so for utilized vehicles. For recycled vehicles the yearly rate can shift from 4% – to 8%; the lower the number the better. The rate could be higher for instance since you don’t have a decent financial assessment.

The advantages of Car Hire purchase

Car hire purchase in Nigeria in Carmart
Car hire purchase in Nigeria
  1. 1) Flexible reimbursement terms (from one to five years) to help fit in with your month-to-month financial plan.
  2. 2) Relatively low deposit is required (ordinarily 10% of the vehicle’s cost).
  3. 3) Fixed loan fees so you know precisely what you’re paying each month for the length of the term.
  4. 4) Once you’ve paid a large portion of the expense of the vehicle, you may have the option to restore it and not need to make additional instalments.

The disadvantages of Car Hire purchase

  • 1) You don’t claim the vehicle until you’ve made your last instalment, which implies in the event that you get into money-related challenges the fund organization could remove it.
  • 2) You can’t sell or adjust the vehicle over the agreement term without getting authorization first.
  • 3) Your deposit and term length will influence your regularly scheduled instalments. Your regularly scheduled instalments are probably going to be higher the more modest the store is and the more limited the term of the credit.
  • 4) Until you’ve paid a third of the aggregate sum payable the moneylender can repossess the vehicle without a court request.
  • 5) It can be a costly course on the off chance that you just need a momentary understanding.

Also Read: How To Get A Car Loan In Nigeria – Top List Of Auto-Finance Companies

How to get the best Car Hire purchase deals

There are two main options here:

  1. Get the fund through the vendor you’re purchasing the vehicle from.
  2. Getting funds through an online merchant.

It’s necessary to look through online first so you’re outfitted with certain numbers to wrangle within vendors. Offers can fluctuate fundamentally on the internet and in businesses so getting more than one financial quote is of important.

To assist you with contrasting the various offers request vital information like:

  • The APR you’ll be paying
  • The aggregate sum repayable
  • The complete expense of credit
  • Any extra charges.

Independent dealership for Car Hire purchase

At the point when you purchase a vehicle, you’re probably going to go to either an independent vendor (one that is controlled by a business and will stock vehicles from numerous brands).

Independent sellers will have a more extensive selection of vehicles, as it’s a lot simpler for them to stock various producers. You’ll additionally discover generally recycled vehicles, which implies normal vehicles are less expensive. You won’t typically have the option to discover 0% account arrangements or enormous store commitment arrangements, and APR will associate with 5-10% – despite the fact that your credit record will influence the rate you’ll have the option to get.

Diversified vendors are the spot to go for another vehicle – despite the fact that recalled new vehicles lose their incentive because of devaluation rapidly.

List of Car Hire Purchase Companies in Nigeria

Some Car hire purchase companies around big cities in Nigeria include:

Citrans Global Limited

  • Contact: 07000733222
  • Address: 72 Otunba Adetoro Drive, Off Lekki Beach, Lekki, Lagos

Rhezon Car Rental

  • Contact: +2348039662017
  • Address: 1 Aguiyi Ironsi St, Maitama 900271, Abuja, Nigeria

Jimak Tactiq Integrated Services Limited

  • Contact: +2348096000112
  • Address: No 6 Bolton street Suncity Estate, Abuja, Nigeria

C & I Leasing PLC

  • Contact: +23498705633
  • Address: Suite 17, 4th Floor, Metro Plaza, Zakariya Maimalari Street, Central Business District, Abuja, FCT

Gabrich Group

  • Registration No. 1815026 and Tax Identification No. 23961967-0001

Gbovo Transport

  • Address: No 32 aina ijayi estate, Ekoro Rd, Abule Egba, Lagos
  • Phone: 0706 237 1791

PUKENA Technologies Ltd

Pukena, Lekki Office

  • 2nd Floor Providence House, Admiralty Way Lekki Phase 1
  • Lagos, Nigeria
  • Tel:+2348168411237

Pukena, Mainland Office

Lecon Financial Services Limited

  • Contact: +23496708714 or +23498700853
  • Address: 256, Zone AO, off Herbert Macaulay Way, behind Unity Bank building, Central Business district, Abuja FCT
What are the disadvantages of hire purchase?

The loan is secured against the vehicle. With a hire purchase agreement, you’re in a fixed contract.
the car will cost more.
Monthly payments are based on credit rating
It can be expensive for short-term agreements.
Missing or late payments could affect your credit score.

How can I get a hire purchase car?

How hire purchase works. Usually, you’ll first need to put down a deposit on the car you want to buy. For most hire purchase agreements this will be 10% or more of the vehicle’s value. The rest of the value of the car will then be paid off in instalments over a period of 12 to 60 months (one to five years).

What is the difference between hire purchase and leasing?

The key difference between a lease agreement and a hire purchase finance agreement is that at the end of a lease, you return the car and at the end of an hire purchase, meaning you have completely paid the agreeed hire purchase price, you take the car

What is hire purchase with example?

A hire purchase agreement is a credit agreement. You hire an item (for example, a car, laptop or television) and pay an agreed amount in monthly payments. You do not own the item until you have made the final payment.

Conclusion:

It is necessary to note that a Car Hire Purchase service is different from a car rental service. Also before deciding on the company you may want to use, it is important to conduct in-depth research on the mode of payment, interest rates, and all other necessary information.

Written by Carmart Team

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106 Comments

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    • My name is Samuel. I need corolla 2004-2006 or Honda civic (discussion continue) 2006-2007. On higher purchase for bolt in Abuja. I promise to be promt, honest and efficient in payment and the terms and condition.
      I’ll be glad if there’s anyone who can help me. Thank you

        • I need a Toyota sienna for installment I will be paying every month end ,no disappoint please anyone to help me please God will bless you.

          • Please I need a help of Toyota sienna for installment I will be paying every month end without disappoint I promise ….08169359972 is my phone number

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        • Please I need a car for my Delivery and into logistic I will be paying weekly I will appreciate if you can help me please

        • I need a car on high purchase, for bolt please contact me on 08104643683 if there is any, I will pay as agreed. Thanks

      • My name is kadri a family man of 3kids I need a sienna bus 2007/2008 model for higher purchase I promise to fulfill all the requirement within the period I reside in lekki Ajah area of Lagos this is my contact 07088062355

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      • Hello my name is Friday I’m from Abuja Nigeria I’m gbagyi by language I need a Toyota Corolla 18 for hire purchase agreement on the payment through I will be humbled by your themes and conditions sir
        My phone number or WhatsApp
        09160902515
        07019057740
        Thank you and God bless you more sir

  1. I need anyone of Hummer Bus Toyota, Toyota Sienna bus,or Mini Bus, on Hire Purchase, please anyone that can afford to help me,I will be grateful and promise to be honest and straight forward,, Will not dissapoint on payment plans, please help me,I am residing in Aba Abia State,08164554915

  2. Good day am into business that gives me alot of sper time . I would love to invest my sper time into Bolt . I am based in Lagos and I will not disappoint . This is my number 09137580309.

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  3. Good day am into printing business,since the opening of the lock down,my business is not stable again,infact I have lost my office.this is my five months I have been looking to get a Corolla Camry 2005 car for hire purchase or delivered to start Uber and Both.pls I am interested in your hire purchase,if I found one.(08146347170).thanks

  4. My name Uchechukwu Dominic
    A student of national open university of Nigeria (imo state chapter) I have lots of free time and really want to go into transport business ad Urber but haven’t got a
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  5. Please I need Toyota previa 2005 model on a higher purchase if anyone can help I will be very happy and I promise to keep to the terms and conditions thanks
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  6. Please I need Toyota sienna of a good model for transport business, on hire purchase. . I promise to keep to the terms and conditions applied.

    • I reside here in Abuja. I’m looking for a car for HP for BOT services . corrolla to be precise. should anyone find me worthy, they can contact me via this 08174495084

  7. Good Day,
    Please I need a Toyota corolla 2010 – 2015 for hire purchase. All agreement will be accepted. Am in Lagos, thank you. 08078133451.

    • Am a God fearing person, I learnt that you have a car to give out for Uber driver as a source of income. Just taste me and see that Abiodun is good. Thank you

  8. Pls I need a car to use an do uber I base in Lagos I will be very happy if any one helps me out an I promise to be the good one. Dis my contact 08168394148

  9. Hi good day my name is mayowa pls I need a Sienna 2007 model I live in FCT Abuja EFAB MERTROPOLO TUNISHI Street house 9 this is my 08051305266 thank you

  10. Pls am in need of Toyota Corolla for Uber i reside in Lagos and I promise to be very prompt with payment..
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  11. Hello.
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    Below is my number (call/ WhatsApp)
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  12. My name is chikamadu nwogu, Please i am a bolt driver but i don’t have a car at the moment, someone should kindly help me 07081344010 i live in ajah lagos

  13. I need a Toyota sienna on hire purchase for commercials such as long distance travels,akwa ibom to Lagos,Lagos to Abuja,East to North as the case may be,I am a graduate of Heritage polytechnic from the department of mass communication,I could give an almost equivalent collateral to show my level of sincerity thank you so much sir/ ma my name is Anietie Jacob Isaac 08118120830

  14. Please I’m interested in Toyota sienna (7 seater) of a good model for transport business, on hire purchase monthly payments. . I promise to keep to the terms and conditions as would be agreed.
    Below is my contact
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  15. I reside here in Abuja. I’m looking for a car for HP for BOT services . corrolla to be precise. should anyone find me worthy, they can contact me via this 08174495084

    • My name is Emmanuel, pls I am very much interested in Toyota corrola for transport business, I am based in Lagos, and I promise to be faithful and not default. Thanks

  16. My name is martins odigbo I reside in aguda surulere Lagos state, please I’m in urgent need of a car on a hire purchase for uber/bolt this is my number you can reach me on 07037586413 or [email protected] I will be glad to get a feel from any one thanks

    • My name is Paul am honest and always keep to my promise i need toyota bus for logistic and transport services on hire purchase deal thanks

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  18. I am based in Awka, Anambra State, I need Toyota Corolla or Camry (Big Daddy) for Bolt and Airport Taxi on Hired purchase.

    Anyone to help I will appreciate it to much.

  19. My name is David Archibong
    .please I need a bolt/uber standard car for hire purchase weekly Installment my number is 07038596454 lagos thank you

  20. Am Mr James Christian based cross river state I need a Toyota Corolla 2010 to 2015 for daily remittance,,,, only in cross river state my phone 08107700258 thanks in advance

  21. Am alebiosu yusuf staying in lagos I need a car Toyota camry for Uber 2008 – 2015….. 08189315145 ….thanks so much in advance

    • I am Bode Oladeji based in Jos, Plateau state. I need a Toyota Corolla or a Toyota Sienna on a hire purchase for commercial transportation. I promise to be honest and prompt payment. I will be paying the agreed amount weekly. My mobile number is 08111082550. Thank you.

    • Good day. My name is Sunday, a yoruba man from Osun, living in Lagos, I need Toyota sienna 05 for hire purchase within 18 months of payment, I can do weekly insurment or monthly. Thanks. My number 08036431363

  22. My name is Peter. I am based in Ojodu- Berger, Lagos. I need a Toyota Corolla (2005 – 2012) for hire purchase. I will really appreciate a kind hearted Nigerian out there. My phone number (or WhatsApp) is 08099617810. Thanks.

  23. Hello greetings, I’m desperately in need of a Toyota Corolla on Hire Purchase, please anyone that can afford to help me,I will be grateful and promise to be honest and straight forward, I Will not dissapoint on payment plans, please help me,I am residing here in Abuja.Here is my mobile contact as well 08162680920 .Thank you so much, and God bless you.

  24. I seriously need a vehicle to start transportation business with Uber or any I need car loan for the car purchase pls help me 08071322260

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  26. Gud morning sir,/ ma my name is Sunday Joseph I stay in Nasarawa state am in need of car Toyota matrix or Pontiac vibe on Uber or blot for higher purchase pls anyone who can help me should pls come to my aid bcs it has not been easy. But I promise anybody willing to help dat bye God’s grace u won’t regret helping me 08069225587

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  29. I need a car on high purchase, for bolt please or cienna car for logistics work contact me on 08060960835if there is any, I will pay as agreed. Either daily or weekly or every end of the month Thanks

    Rasaq

  30. Hello
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  31. Good evening everyone please I need a hire-purchase for Toyota Camry or Corolla for bolt quick delivers ( 09019075640)
    I stay in Lagos mainland

  32. I need a hire purchase car 2005 corrola worth of 3million urgently .am a working class, just need to augment my income. I can be reached on 08065000460 am based in Abuja. Tanks in anticipation 🙏

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  34. My name is chibuisi kalu
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    I’m in owerri Imo State
    My phone number are
    07067595987
    Thanks

  35. My name is Chinonso okorie Oji I need a car for higher purchase Corolla 2004 to 2010 model to be paying on monthly basis I reside in Rivers State and I want to use it for bolt I promise not to go against the agreement.
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  36. Hello, My name is Adesina Bidemi John, I need a Toyota Corolla car 2006-2008 preferably but I wouldn’t mind any other year, for hire purchase,
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  37. Good morning pls I need Toyota corolla 2003 for hire purchase while paying monthly pls I will be very glad if that’s gonna possible.
    Here is my contact 09056963223

  38. My name is Paul am honest and always keep to my promise i need toyota bus for logistic and transport services on hire purchase deal thanks 08166574483

  39. Greetings. I’m Kenneth onyebuchi.
    I need a car for urba on higher purchase. Weekly or monthly instalmental payment. I will not disappointe. Helper pls locate me on 08054095547

  40. Please my names are Wisdom Effiong, I don’t know whether I can get any help form your platform, I need a sienna 05 for interstate and weekly payment. Thanks 08036697391.

  41. Please Good evening my name is ebuka felix obiajunwa..I’m an uber and boit driver
    but for somewhlie now I have not been working because I have no car Please I will so much appreciate if I can get a help with a car here I’m in for any times and agreement here please thanks very much here is my number 08116189323

  42. Hey, good day. I need a Toyota sequoia 2006 for transportation. My route is ughelli to asaba in Delta state. I can pay every month or weekends. Please please please I really need this to work.

  43. Good day am I have been looking a way get a good Corolla Camry 2005 car for hire purchase or delivered to start Uber and Both.pls I am interested in your hire purchase, below is my number 08132001996.thanks

  44. Good Day Every one, please I need a Toyota sienna 2005 or Corolla 2004 for interstate transportation Lagos State to Onitcha, Anambra state. Hire purchase to be precise. Thanks.. below is my contact 07065037032.

  45. I have been looking for a good toyota corolla on hire purchase that i can use for uber and bolt. Please i am interested in your hire purchase service below is my number
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    I look forward to yiur response.

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  47. My name is Musa Abner. I’m looking for a Toyota Hiace Bus for higher purchase, which I will use for Transportation and Logistics Business.
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  48. My name is Chris Emmanuel, I need a Toyota Camry (spider), or any other good car ranging from 2005 to 2008 for Bolt, I agree with the terms and conditions and promise by the grace of God to adhere to them, should you decide to do me this great honour, please do contact with the numbers below 👇👇
    07033639501(WhatsApp) or 07049226853..
    Thanks and remain blessed…

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