Hey guys,

I like to have a ride. Something not more than 600k. The issue is financing. I like to ask if you know of any way I can get a loan to finance something of that amount. I can pay within a year or at most a year and half.

Pls, 'landers advise me if you know of any financing deal that can work something out with me.

wait for a year and buy the damn thing yourself -



what the heck is all this fricking street begging going on in nairaland anyway?
some prick spammed the technology threads with some sob story about being poor and wanting a cheap laptop.

it seems the amaerican disease is fianlly upon us - eagerly ushered in by our banks - the culture of instant gratification and you can have this right now - the fellas with the big cars expensive clothes and big debts.

oyb, how yur car sef, d pimped one

poster oyb has said it all, wait and buy, delayed gratification is better, debt aint good at all, wen u hv d dough, go and buy and be happy

1

@Kanuri,
Am an Energy Investment Banker, which means i truly appreciate your analysis of the Naija Energy Market.
My only query is that why is there so much secrecy in the naija energy sector? No websites, no financials puublished, etc.
Kindly reply to this thread or my email, ma2206@yahoo.com.

oyb:

wait for a year and buy the damn thing yourself -



what the heck is all this fricking street begging going on in nairaland anyway?
some prick spammed the technology threads with some sob story about being poor and wanting a cheap laptop.

it seems the amaerican disease is fianlly upon us - eagerly ushered in by our banks - the culture of instant gratification and you can have this right now - the fellas with the big cars expensive clothes and big debts.

Actually, it's a good thing for THE WISE only. When engaging in a lease program/facility, you just have to be smart or else it's suffering all the way.

@Oyb
It depends
like my cousin was close to paying off for a Volks jetta few weeks back
he has his money and i told him why not use the money to achieve two things

get the car thru financing and send the remainder to the stockmarket
This way, u not only finance it adequately but getting some income from the amount u could have used in buying off. . .

This can only be good for someone who has got the cash
but for those who cannot afford to drive a new car but feels the bank can help out
na original gbese be dat

tkb

wetin u dey do for here, oya go back NN and make d bulls appear

Thanks all,

I appreciate the various comments.
But I appreciate if you have direct answers to my question, just answer and if you do not, pls hold your peace!

And for those who are using this thread to advertise other things, I suggest you use your privilege of posting new topics rather than distracting the line of thought here.

Regards!

@nkc
my guy
im permanently on NN. the bulls are presently locked in a mother of all battles with the bears
no shakings at all.

You sef, abi u wan sell car to the poster?
LOL!

@demsy ,
really i do understand your plans, and if i had an idea about such financing programs i would tell.

to the rest of u,
well good y'all have cars you can flaunt around, but why cant u be civil enuf to either advise the chap about the bad sides involved with car finace
rather than insult him,

@ oyb ,
small god in ur right, try to allow space for the poor ones wey on emake am too.
he asked for help, not insult.
u cud have just said its not a wise idea, rather than name calling.

izeek:

@demsy ,
really i do understand your plans, and if i had an idea about such financing programs i would tell.

to the rest of u,
well good y'all have cars you can flaunt around, but why can't  u be civil enough to either advise the chap about the bad sides involved with car finace
rather than insult him,

@ oyb ,
small god in your right, try to allow space for the poor ones wey on emake am too.
he asked for help, not insult.
u cud have just said its not a wise idea, rather than name calling.

i guess you're right. . .@ poster, IMHO its not a wise idea to borrow money to finance anything that will not yield a return.

no finacial institution anywhere will loan money withot collecting interest. by the miracle of compund interest, which has been called the 8th wonder of the world, you may end up paying 900,000 for a 600,000 car. does that seem wise?  . thats the trap of credit that most people don't realise. you always pay more than the item is worth. imagine, paying interest on an item that is depreciating in value

there are a thousand things i'd lik to have, but until i can afford them comfortably, no dice. 90% of all these things are wants, not needs.

more to the point, i f u can't afford to buy a car, what maks you think you can afford to maintain one, considering tha fact that it will be tokunbo? insurance, petrol,  minor repairs -

anyway, na u biko

as to being a little god - i worked for over 5 years before i bought my first car. this was by my own choice. too many of us are in a hurry to live a life we don't have the resources to support. anyone who is employed is playing with fire if he chooses to borrow money to buy stuff. all you need is to be laid off - then life will become very very hard.

nkc:

oyb, how yur car sef, d pimped one

poster oyb has said it all, wait and buy, delayed gratification is better, debt aint good at all, when u hv d dough, go and buy and be happy

the car is doing ok, thanks

Thanks all, once again.

for me, at this moment, the car is not a luxury its just a necessity to fulfil certain things. I need it to carry out certain feats. Forget about maintenance and all, I am comfortable enough to take care of such. I am already aware that I must pay interest. That is why I am asking the ones in the house who know how to give information of financing that will be best.

thanx

@poster
i think fidelity bank offers such services but u would need to open an acount and save up to 10% of the cost of the car. go to any branch of fidelity bank to find out.
Goodluck.

all this car loan thing is a rip off

if u can buy brand new buy, if not no be by force to drive new car, get a toks!

if u want to pay thru ur noses and collapse under debts in an unstable economy like nigeria, get a loan then!

i can assure u of finance lease through zenith bank. However, d challenge is that u must ve a current account with d bank wc must have been running for like 6 months. if u can open d a/c today, i can assure u of getting a facility to own your car by december.

for details call me on 08055137115

People, he has not asked for any daft advice on where to put his money or whether he shouldn't borrow Why all this sanctimonious crap? Its his money, his funeral (pardon my choice of words, ).

@demsy,what you need is not a car loan,since your budget is around 600k. Go for a personal loan instead, you won't have to pay any equity upfront or insurance and crap like that. Depending on which bank you bank with, a PLAS(Personal loan against salary)shouldn't take more than one week to setup and you can draw on the funds. I assume you have a steady income, whether paid employment or business. Just walk into the retail department of your bank and tell them you want a personal loan of 600k.Decide the tenor(12mths, 6mths, 3mths, as it suits you best) Fini, !!
Good luck

Demsy
You know the problem with Nigerians is that everybody feel we must do things the same way. What has worked for somebody might not worked for you. The fact that some people worked for five years before buying a car does not mean you must go through the same hassles and though time. You must realised that a first car most times is not luxury rather it is for convenience. it is when you are on second as a single man or third car as a married man that it becomes insatiable desire at your in convenience. Getting indebted could be a challenge to manage especially if your income cannot take care of it confortably.
My brother there are different ways you can structure payment without hurting your self. One of the things I have realised is that if you talk to people you could get some wonderful terms worked out. Don't mind some holier than thou people who would rather castigate your thinking. Whichever ever way get your stream of income right so that you can make payment at the time you promised.

I bought my first car after working for about 2years to the utmost surprised of all my colleagues cos we where earning peanuts working for a restaurant business. But some one got a tokunbor car for me that i paid for over four months. But buying car for me was for convenience not for luxury because i was closing late from work.

Let nobody deceive you you need a car to move around for business and to work because we are leaving in dangerous times,but i don't think you will get the right contact with what some guys responses are here. my brother i wish you the best as you try to achieve you goal.

@Oolumide,
pls I need to talk to you about restaurant biz.
Pls mail me on ifyobua@yahoo.com or flash me on 07034111501.

@ poster
Talk to car dealers on Nairaland , something could be arranged for you

poster

sori if i was blunt, connect with viperman, he has all d best deals on finance,, i think inspired_m does too, but not sure, u can buzz him 2 , have a great one

people i dont know y nigerian are wicked the post did not ask of dicoragement from any one if u can get the car or laon for him y don't you stay away from his post or is it that u don't have better things to do?

post go on wit ur plans there nothing like determination if u got it u can pay d money back within short period that is y u have to be a man so many rich guys today got loan i mean cool big loan to start and they are rich today go on be serouse that is all

remember that all hands are not equal because they collect and fail so they thin u'll be like them

despite have all the things of the world dangote still get loan from the bank.

goodluck

What has the pix's got to do with the thread?, Those shoes,,, are they supposed to be rain boots?

@celebritee

What has the pix's got to do with the thread?, Those shoes,,, are they supposed to be rain boots?

LOL.
I concur abolutely. How does the pic help answer the posters question?

kingssmith:

hi man i don't knowwhen u posted this but just fliped through.

just go to any ECO BANK ask for the of the program they call ecochartel, i think that is youwhat may
need,you pay in 20% in to the ecochartel acount and u get your fund thats all and

expected to pay back in a space of 36 months .u may contact me for directions.

here clemsmith82@yahoo.com

Thanks for the information sir.

However, I think the picture was uploaded by mistake.
(I am married, just in case).[color=#990000][/color]

Thanks everyone for you meaningful contributions.

the person who posted that picture must truly admire themselves.

@poster
Please don't bring your americanization to naija, that country is a country built on debt and they are suffering it now. Like someone said, wait till you get the money then buy it yourself.

Kai! That Photo big no be small, it seems the girl is looking for husband.

@poster, I suggest u wait, if u buy the car, how will u maintain it?

kingssmith:

hi man i don't  knowwhen u posted this but just fliped through.

just go to any ECO BANK  ask for the of the program they call  ecochartel, i think that is youwhat may
need,you pay in 20% in to the ecochartel acount and u get your fund thats all and

expected to pay back in a space of 36 months .u may contact me for directions.

here  clemsmith82@yahoo.com

Babe,you are not looking bad,no mind them.Where do you reside?

@huaz
can i raise a loan 2 buy dis chic wey dey dis foto??

As said previously, it's not advisable to finance anything (beyond housing) in some cases. Just save up the money you need to get what you really want and pay cash.

Loans are what we need in Naija so that less earning people can buy cars, houses, investments

The young man is just asking for simple information and the ever present over-sabi Nairalanders latched on to him as usual. If you must know - one of the greatest cause of corruption in Nigeria is linked to the fact that we are a cash based economy where people pay for things once. This normally leads to anxieties for those that don't have jobs and those who just started or how can u advise a guy to patiently wait for 3 years to save enough to pay 2 years rent and then 7 years to buy a car. Reason for many looking for shortcuts to pay for these things. Why I am not into stupid bank loans but look at developed countries and even some smaller African countries - they pay rent monthly and get car loans at very cheap interest rates - hence not much pressure to steal. What we should be looking at is the failure of leadership that ensured high inflation and interest rates. My advice for the guy is simple - before u think of a loan - analyze it very well to avoid becoming trapped. Also, are u self-employed or work for a company? If u work for a company - a 600K loan is small enough and some companies help their employees with such loans or have arrangements with some banks for same. Explore your options well and think of the value the car will bring to you. Will it help you to do weekend runs that can make u more money? Or is it because of status symbol? Look well my guy before u leap. All the best!