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Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme - Car Talk (3) - Nairaland

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Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by onexile: 10:23am On Apr 27, 2016
GAZZUZZ:
hope the bus will last 3years grin
when will Nigerians appreciate peoples efforts? Must you always program your mind to negativity?

Obviously this your statement is born out of hate. Please stop hating the Igbos, the more you hate them, the more they progress.


For your info, just to answer your question. Yes it can compete with any foreign care ever known to mankind in terms of durability and usability.

I have been using IVM Jeeps for about 4yrs now.

Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by GAZZUZZ(m): 10:43am On Apr 27, 2016
onexile:
when will Nigerians appreciate peoples efforts? Must you always program your mind to negativity?

Obviously this your statement is born out of hate. Please stop hating the Igbos, the more you hate them, the more they progress.


For your info, just to answer your question. Yes it can compete with any foreign care ever known to mankind in terms of durability and usability.

I have been using IVM Jeeps for about 4yrs now.

seems you are new on NL. Read rule 8

1 Like

Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by chigoizie7(m): 11:19am On Apr 27, 2016
goodlifehyd1:
100k monthly is pretty much to pay for an average nigerian, so i dont really see the advantage of this offer to a common man... cuz the documents needed would include your statement of account and the money would be deducted once your salary lands.


I don't think so.

This very bus is for transportation.

100k monthly is like 3.5k daily.

I know from onitsha to nsukka is 1100 per passenger, normally a 14 seater bus, which N15,400 per trip, and u can go to nsukka and return to onitsha in a day, which means, to and fro @ N30,800. Remove 10k for fuel remove 5k for ur day pay, remove another 5k for ur personal savings, remove another 5k for maintenance, u are left with 5k for repayments. U still have N800 left, u can settle agbero with dat.

Normally, if u pay initial 3.5 per day to attain 100k per month, it will mean u will work both on Saturdays and Sundays too, but if u keep paying the balance of 5k u got from my analysis, u will have to work just 5days in a week to get 100k per month.

So, it is feasible bro.

It only needs resilient and patience.

Don't forget that as u pay 5k for repayments, u re also saving 5k for maintenance and another 5k for ur personal savings. All together, every month, u have 100k for maintenance, 100k for repayment and another 100k for ur personal savings after u must have pocketed another 100k from ur daily pay as d driver.

So, it is worth is, mind u u can't spend 100k to keep up a steady and routine maintenance in just 1month. U will still have change, besides a brand new car will take @least 6months b4 giving problems.

So, u can use ur brain, once u see that u have gotten enough change in ur accounts, u can make bulk repayments and den ur number of repayment months keep reducing.

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Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by donvicky2007: 11:19am On Apr 27, 2016
Exponental:
Does it have warranty and insurance included in the package?
Can it service long distances or survive the hustling n bustling of Lagos as a commercial?

I think he should start with private cars rather than this!

I think the auto-finance is for every of their products (cars)

Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by chigoizie7(m): 11:32am On Apr 27, 2016
Certifiedboss:


This is very risky . I don't advise anyone to make such move and use it for transportation with the mind of paying back through the money made from transportation. In business you weigh the unforseen occurrence . What if after getting this bus and it got involved in a serious accident just after 2months and got behind repair. What do you do ?


Are u also trying to tell me that other vehicles bought through this very scheme all over the world can't be involved in an accident?

Apart from transportation biz, which everything u want to use it for, are u also telling me that ur biz can't fold in 6months accidentally?

If u are a salary earner, are u telling me that u can't loose ur job in 1month?

Oga, their is risks associated with whatever we do in life, our prayers should be, let it not happen.

I know a friend who bought a sienna from lagos, and den driving to anambra, it got involved in an accident, the owner never even drive am for a day and it's all gone.
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by Certifiedboss: 11:34am On Apr 27, 2016
kingpole:


You buy full insurance. If everybody thinks like you no one would own a car.

For a car you didn't pay a dime for ? A car you arranged to pay by installment without an initial deposit . By the way , if a accident occur and insurance do their investigation and see it was caused by total negligence of the user you are on your own . If like insuring your house and fire occur but investigation revealed that as at time of the fire outbreak your fire extinguisher was not working , expired or you didn't even have one. A lot is involved wit insurance.
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by Certifiedboss: 11:38am On Apr 27, 2016
chigoizie7:



Are u also trying to tell me that other vehicles bought through this very scheme all over the world can't be involved in an accident?

Apart from transportation biz, which everything u want to use it for, are u also telling me that ur biz can't fold in 6months accidentally?

If u are a salary earner, are u telling me that u can't loose ur job in 1month?

Oga, their is risks associated with whatever we do in life, our prayers should be, let it not happen.

I know a friend who bought a sienna from lagos, and den driving to anambra, it got involved in an accident, the owner never even drive am for a day and it's all gone.

I understand you tho. I know risk is involved and we take risk to make money . I'm only saying such move will be better off for someone who has a backup income . Besides accident , if there's a month where the transport business was poor or if the bus spend much times at the mechanic for a particular month and it couldn't meet up with the monly balance there should be other source of income for the owner to be able to pay up for that month
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by onexile: 12:09pm On Apr 27, 2016
GAZZUZZ:


seems you are new on NL. Read rule 8
I can tell you I'm as old as seun on NL
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by kingpole: 1:14pm On Apr 27, 2016
Certifiedboss:


For a car you didn't pay a dime for ? A car you arranged to pay by installment without an initial deposit . By the way , if a accident occur and insurance do their investigation and see it was caused by total negligence of the user you are on your own . If like insuring your house and fire occur but investigation revealed that as at time of the fire outbreak your fire extinguisher was not working , expired or you didn't even have one. A lot is involved wit insurance.

You'd be made to pay 25% down payment didn't you read the post? Or are you unfamiliar with hire purchase.

In the case of car insurance, when a car has full insurance even if the fault is personal or from a third party, a claim would still be paid. Unless insurance fraud is detected.
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by tammie24: 1:48pm On Apr 27, 2016
bjims:



Brilliant Idea? yes ..but am sure they copied it from my topic
https://www.nairaland.com/2752613/innoson-motors-igbos-quest-biafra
I remember someone suggested something like that, don't know if it's you though
Very good move

1 Like

Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by 19naia(m): 7:48pm On Apr 27, 2016
I am not sure how welll this would work in Nigeria because of the average monthly income of Nigerians remains low by world standards that allow even basic primary school teachers to be able to make monthly payments on a new car while also renting a house,buyibg food and other basics in life.
The Auto industry in USA is big and it seems every one can have a car if they just maintain regular monthly income.
Banks and the auto industry are partners in business.
The same is done for houses so that an everage person can pay a bank monthly for ownership of the house, but it takes 15-30 years of monthly payments to own a house via money borrowed from a bank.
I have paid as little as 3 years of monthly payments to own a new or lightly used car, and have paid as much as 5 years of monthly payments to own a new car.
No more for me. I pay cash now because the interest included in the monthly payment plan is enough to buy a second car after 5 years.
I suspect Innoson will have a lucrative interest scheme involved in the plan, but it will make life easier for people who can afford well over N100k a month to operate a vehicle, especially if the vehicle can last 5 years under commercial use.

THE GENERAL RULE FOR BUYING A VEHICLE ON BORROWED MONEY IS THAT YOU MIST MAINTAIN FULLY COVERED INSURANCE TO PROTECT THE COST OF THE VEHICLE IN CASE OF ACCIDENT.
Insurance cost can be high and can make a 100k monthly payment double when all the other costs of keeping the vehicle are factored in.
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by Horus(m): 9:49pm On May 01, 2016
Re: Innoson Vehicle Manufacturing Company (IVM) Launches An Auto Finance Scheme by tck2000(m): 1:57pm On Aug 26, 2019
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