Top 10 Car Loan Companies In Nigeria

Top 10 car companies in Nigeria

Here is the list of Top 10 car loan companies in Nigeria.

If you have been wondering where you can access a loan to get a car in Nigeria then you are at the right place.

Having a car not only eases your mobility but also reduces the stress it takes to use a public vehicle.

Irrespective of your educational background, the financial status you can have a car.

A car loan will help facilitate the process of you getting a car.

Note: Before buying a car, get to know the factors involved, it is not easy getting a car that is why you need a financial institution to aid you in your journey of car purchase.

There are a ton of financial institutions in Nigeria that you can get car loans from.

Some of these institutions can either pay half or the full costs of the car.

Listed below are some of the best car loans companies in Nigeria.


The top 10 Car Loan Companies In Nigeria are:

1. Fcmb Auto loan:

The Fcmb consumer Auto loan is a credit scheme allowing individuals that are qualified to finances that will enable them the acquisition of their car.

READ ALSO: How to buy a cheap reliable car

This scheme allows the customer to own a car, and pay in installments over a specific period.

You can apply for this loan in any Fcmb bank branch or you can do it on their loan portal.

The Fcmb loan is in two categories namely:

I. Standard Auto Loan:

The standard auto loan is for those working for the government, or those that owned a business bringing in steady income. You will be able to access up to #30 million, and you are meant to pay back the loan within 12 to 60 months.

ii. Fcmb Auto loan alliance: 

Gives an interest rate of 20% per year, and the amount to be collected is #30 million.


2. Beta Car Financing:

Is a loan scheme that makes available funds to business owners and people working to enable them to purchase cars.

The payment is to be made in 12 to 14 months

Additionally, After submitting your application, your car will be ready for pick up in a week, that is if your application is approved.



Is a loan scheme that makes available funds to business owners and people working to enable them to purchase cars.

You will be able to get a car loan within 72 hours.

The payment is to be made in 12 months with a 2.5% monthly interests.

This losn is for business owners and salary earners.


4. Creditville:

Cedarville is a digital lender that provides you a quick loan for buying a car.

Furthermore, to access this loan, visit their website, fill and submit the application form for the auto lease. An agent is going to contact you if your application is successful.


5. Access Bank car loan

Access bank car loan makes it very convenient for their customers to acquire a new car. You can access the loan if you are a salary  small-medium enterprises, cooperate bodies and it takes 48 months. The requirements necessary to obtain this loan can be gotten at any of their branches.


6. GTB:

You are eligible to access the loan if you have an account with them. For individuals, the minimum amount you can get is #20,000 and #1million maximum. And for cooperating organizations and small-medium businesses, it is # 5 million.


7. First bank

The first bank loan is available working class people that earn monthly.

For registered businesses, they offer partial funding for the purchase of brand new cars.

They have a tenor of 48 months. The maxim amount is #15 million.


8. Auto checki Financing:

They not only provide car loans, but they also sell cars too. Checki is a renowned company operating in Nigeria. And are designed to meet the financial needs of those that want to purchase a car in Nigeria.


9. UBA auto loan

They enable you to get your dream car, even if it’s to upgrade or getting a new car. You can access this loan at any of their branches.


10. Standbic IBTC Bank

Standbic its bank has a structured loan repayment plan. It is very convenient as well as affordable.

Their payment tenor is 4 years. This loan is available for both new and old customers.

Go to any of their branches and apply.

Having a car is a necessity, most especially if you live in the city where your place of work is kind of far from where you are living, and you need to make the distance in time.

Additionally, when you need to visit the hospital due to one emergency or the other, you will get to know that apart from being a luxury it is also a necessity.

Due to low income, purchasing a car may be difficult, that is why to make it easier, some institutions came up with solutions of offering loans to people to purchase a car, then paying back with interests.

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