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

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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.

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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.

Car hire purchase in Nigeria in Carmart
Car hire purchase in Nigeria

The advantages of Car Hire purchase

  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 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 importance.

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 normally 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

Car Hire Service

  • Contact: +2348094952153
  • Address: Nnamdi Azikiwe International Airport, Abuja

Car Hire Office

  • Contact: +2347031635696
  • Address: Rockview Hotel, Plot 789, Adetokunbo Ademola Crescent, Wuse II, Abuja, FCT

Rhezon Car Rental

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

Sixt Rent a Car

  • Contact: +2348028904996
  • Address: LTD Plot 388, Constitution Avenue, Central Business District 002349, Abuja

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

Hire Purchase Company

  • Contact: 08036656340 or 08067807234
  • Address: beside Baptist church, Choba Emohua, Rivers State

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.


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.

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    • Nweke samuel Reply

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      I’ll be glad if there’s anyone who can help me. Thank you

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          • Lawrence Robert

            I need a car or bus for hire purchase. My phone number is 08022949715. I live in Calabar

        • Joke wilson Reply

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        • Adewunmi kayode Reply

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      • 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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      • Emmanuel charles Reply

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  1. Chukwuma Nnamdi Reply

    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

    • Akinleye Samuel Reply

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  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.

    • Micheal Stephen o Reply

      I am Stephen from warri Delta State (NG)
      Please i need a Toyota Corolla from 2010-2015 on a hire purchase for bolt drive,i promise to be honest,i will pay weekly aggregate amount…….
      My mobile number is 08103800122/08087874031
      Pls help…..

  3. Patrick Alex Audu Reply

    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. Uchechukwu Dominic Reply

    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
    Will appreciate any dealer that can sell a car to me on hire purchase
    I promise to be honest and stick to the payment terms
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  5. Okoro Jacob Gabriel Reply

    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
    08158126805 or 08032941849

  6. Adebayo samson Reply

    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.

    • Ayokunle martins Reply

      Good day am into business that gives me alot of time . I would love to invest my spare time into uber/Bolt . I am based in Lagos and I will not disappoint . This is my number 08081586854

      • Need a Toyota Camry on higher purchase to do uber here’s my number 08052347116

      • James Onoja Reply

        I need a Toyota Camry car for hire purchase, my number is 07059579374

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  7. Odutayo odusegun oyeniyi Reply

    Please I need corolla If it’s rental or hire purchase

    • my names are Iniovo Friday Ogheneovo Reply

      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

  8. Martins Nyambi Reply

    Good Day,
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    • Abiodun Sunday Reply

      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

  9. Wisdom Godwin Reply

    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

    • Okpara samuel Reply

      Good day my name is okpara samuel I base in Abuja fct. If I can get a golf3 for hire purchase I will be grateful here are my contact 09028342019 or 08188200193 thanks

  10. I need a car for higher purchase which i can use for uber work my phone no:07031287037

  11. ODOLO MAYOWA Reply

    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

  12. Gud evening.
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  13. Pls am in need of Toyota Corolla for Uber i reside in Lagos and I promise to be very prompt with payment..
    My number is 08103181113

  14. Hello.
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    Below is my number (call/ WhatsApp)

  15. Pls i need a toyota corolla car for uber taxi on hire purchase.i base in lagos 08085433313

  16. Chikamadu nwogu Reply

    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

  17. Anietie Jacob Isaac Reply

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  18. Kelvin godspower Reply

    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

  19. my names are Iniovo Friday Ogheneovo Reply

    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

  20. Onuoha Kelechi Reply

    I need Toyota Hiacentre van for higher purchase, I promise to be faithful

  21. Am very much interested I Toyota camry 2006 for hire purchase, i promise not to see default. God bless


    • 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



  23. Please I need a Toyota sienna to run transportation here is my number 08165054306

  24. Micheal nlemadim Reply

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  25. Okegbenro gbenga Reply

    Please I need Toyota Camry 2005 for higher purchase I want to be using it for uber l reside in ibadan

  26. Aadebisi kayode Reply

    I need Toyota Cesena for transport, I live close to Ogun state.

  27. martins odigbo Reply

    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

  28. Fasanya Abiola Bamidele Reply

    I need a Corolla Camry 2005model for Uber with hire purchase….

  29. Badmus Rasheed Adenekan Reply

    Hi Pls I need Toyota Camry for Uber in Lagos for hire purchase pls this is my number 09033950574

    • Jesse Julius Reply

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  30. Aaron ikani Reply

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    • richard ogbonna Reply

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  31. 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.

  32. David Archibong Reply

    My name is David Archibong
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  33. James Christian Reply

    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

  34. Alebiosu yusuf Reply

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  35. Alfred Chigozie Reply

    Mr Alfred Chigozie I need a Toyota corolla 2005 for hire purchase tokunbo am in Lagos.

  36. 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.

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