I would like to sincerely say a very big thank you to those that came to our office this week and those that have shedule to come on Saturday and Monday next week.i really appreciate you all.

God Bless ur Hussle...(AMEN)

I would like to sincerely say a very big thank you to those that came to our office this week and those that have shedule to come on Saturday and Monday next week.i really appreciate you all.

God Bless ur Hussle...(AMEN)

Hi

millhouse:
you simply should have said 3% interest monthly to clarify , but ideally every interest rate in the financial sector is calculated annually ..

Annually this interest rate cumulates time 42.96% going by his calculations you are paying almost 43%more that’s more than any bank would charge you... almost double it actually

ehissi:


Bros, he said it is 3.58% monthly interest and not annually.......

And the interest in on the monthly anticipated pay by month....

Which wan is criminal again, abi you na Nairaland SARS........

Oga try to understand before posting, the interest is not on the monthly installment, the interest is on the the total amount left after the down payment, and the same interest will be paid every month till the whole principal is paid. At the end of the day the total interest paid will be almost the same as the loan taken which is too much to fathom.

funny that folks would be taking this. This is just daylight slavery. I am 100% sure there would be a lot of default on payment. This isn’t sustainable with this current state Nigeria is in. But me what do I know

phemsie:



Oga try to understand before posting, the interest is not on the monthly installment, the interest is on the the total amount left after the down payment, and the same interest will be paid every month till the whole principal is paid. At the end of the day the total interest paid will be almost the same as the loan taken which is too much to fathom.

You try, cool down, read and understand before arguing.

First of all, nobody anywhere awards interest based on anything else other than the principal.

Second, interest is typically awarded annually. However, in this case, they have chosen to award it monthly. In this case, 3.58% monthly on the principal.

In the case of the example OP put, a loan of 900,000 attracts interest of #32,200 monthly (and not annually), being 3.58% of the principal.


Third, only a naive person will expect defaults, people who get cars, on hire for taxify/bolt or Uber pay at a higher premium and they don't default, except where laziness or circumstances beyond their control occur.

A typical taxify/bolt/uber deal bears interest rate of between 100% to 250%.


I have seen someone offer me a ride that is ordinarily worth no more than #1,000,000 - a clean 03/2004, Nigerian used Toyota corolla - and is asking for weekly pay of #30,000 and want #2.8m. That is #180% interest.

A look at OP's offer, show that a loan support of #900,000 from them sees you paying #1,286,640.

That is #386,640 interest. Which is a total of 42.96% annually.

Yes I must admit, that 42.96% annual interest rate is high for someone who wants to buy a personal car.

But For hire purchase for Ehailing business, that is bloody cheap.

The interest rate is high... But what do I know

ehissi:


You try, cool down, read and understand before arguing.

First of all, nobody anywhere awards interest based on anything else other than the principal.

Second, interest is typically awarded annually. However, in this case, they have chosen to award it monthly. In this case, 3.58% monthly on the principal.

In the case of the example OP put, a loan of 900,000 attracts interest of #32,200 monthly (and not annually), being 3.58% of the principal.


Third, only a naive person will expect defaults, people who get cars, on hire for taxify/bolt or Uber pay at a higher premium and they don't default, except where laziness or circumstances beyond their control occur.

A typical taxify/bolt/uber deal bears interest rate of between 100% to 250%.


I have seen someone offer me a ride that is ordinarily worth no more than #1,000,000 - a clean 03/2004, Nigerian used Toyota corolla - and is asking for weekly pay of #30,000 and want #2.8m. That is #180% interest.

A look at OP's offer, show that a loan support of #900,000 from them sees you paying #1,286,640.

That is #386,640 interest. Which is a total of 42.96% annually.

Yes I must admit, that 42.96% annual interest rate is high for someone who wants to buy a personal car.

But For hire purchase for Ehailing business, that is bloody cheap.

Thanks for the clarification sir...

RapistOnBail:
The Poor Make Money To Pay Debt
The Rich Use Debt To Make Money.

explain

ehissi:


You try, cool down, read and understand before arguing.

First of all, nobody anywhere awards interest based on anything else other than the principal.

Second, interest is typically awarded annually. However, in this case, they have chosen to award it monthly. In this case, 3.58% monthly on the principal.

In the case of the example OP put, a loan of 900,000 attracts interest of #32,200 monthly (and not annually), being 3.58% of the principal.


Third, only a naive person will expect defaults, people who get cars, on hire for taxify/bolt or Uber pay at a higher premium and they don't default, except where laziness or circumstances beyond their control occur.

A typical taxify/bolt/uber deal bears interest rate of between 100% to 250%.


I have seen someone offer me a ride that is ordinarily worth no more than #1,000,000 - a clean 03/2004, Nigerian used Toyota corolla - and is asking for weekly pay of #30,000 and want #2.8m. That is #180% interest.

A look at OP's offer, show that a loan support of #900,000 from them sees you paying #1,286,640.

That is #386,640 interest. Which is a total of 42.96% annually.

Yes I must admit, that 42.96% annual interest rate is high for someone who wants to buy a personal car.

But For hire purchase for Ehailing business, that is bloody cheap.

Thank you, I really appreciate this, I felt i was the only one seeing the high interest rate. Thanks once again

emmenness:
Which of the Benz model will be more economical for Uber/Taxify ehailing business? I am looking at getting a direct Belgium Benz rather than Corolla which seem more expensive. What's your advice please.

Perish the thought. If you can't afford a corolla, then target a Honda civic......it is far cheaper than corolla and has good fuel economy sef......if not even better

congo4ka:


I am looking for a 1.5 million loan, I want to buy Toyotxx6a Camry for Uber business. Please can I come to your office for more details

Yes fell free, Monday thru Saturday, you can WhatsApp me..

Thanks

3.58% per month! This is daylight robbery! For anyone who wants to take this, check the terms and condition

pennzo:
3.58% per month! This is daylight robbery! For anyone who wants to take this, check the terms and condition

That is your opinion sir, it might not be okay for you, probably because you have the right collateral to get loans over 10M from bank easily. Most people are not Privileged and our government don't care.

It has actually help lots of people...

In few weeks time, I'll personally request for a loan support of over 3M which I will use to aquire a TATA Bus...

As I've said it's not for everybody.

Thank you.