Reading through some of viperman's threads, he seems to have a lot of cars coming into Nigeria and a lot of people are interested as well. Though, it seems a lot are money short as well.

So here is my question, in the USA, most people don't go and drop $25k just like that in one day. It is paid over a period of time, say five years. I am sure there are places that loan out money in Nigeria, but might be few. So here is the question, will you be willing to finance a car and pay a fixed amount over a period of time? You can also lease a car for a period of time. Is that an option that Nigerians will be open to?

Thanks.

lots of banks and finance houses are already financing new/used car purchases. A lot of paper work is needed.

lots of banks and finance houses are already financing new/used car purchases. A lot of paper work is needed.

in Nigeria with high accident profile? before you finish paying the car already has no more value

The stuff works.
Accidents happen a lot in Nigeria, but compared to the nos of vehicles and bad drivers, it is low.
Most of the accidents are caused by bad tyres,bad mechanics, bad roads etc.
New cars are going to be affected by these issues less. My wife is picking up a Toyota Yaris very soon.
Most of my friends who were wise to pick up new cars in 1998/1999 are still enjoying the cars now.
A few were snatched and the insurance companies settled them.
Some insurance companies offer free GSM based tracking for insured cars .
You can call me on 0807 02 29044 for more info

theopops:

So here is my question, in the USA, most people don't go and drop $25k just like that in one day. It is paid over a period of time, say five years. I am sure there are places that loan out money in Nigeria, but might be few. [b]So here is the question, [/b]will you be willing to finance a car and pay a fixed amount over a period of time? You can also lease a car for a period of time. Is that an option that Nigerians will be open to?

Thanks.

Were you asking viperman or asking everyone?
Or better still, what are you proposing?

I am asking everyone.

Want to know people's view on auto financing.

Hope that helps.

.