₦airaland Forum

PLEASE WHY DON'T U CONTACT US AT autodynealliance@yahoo.com for more details. We provide what you need when you need it without stress and we also provide finance options with as much as 5 yeaqrs repayment plan for your vehicle puchase.

please call any of these numbers 08191166512. 07042196531. 01-8521655. 07055679096

autodyne alliance offers the easiest way to acquire a brand new car with full finance options and a repayment period of up to 5 yrs (60 months)

THIS IS HOW THE FINANCE OPTION WORKS,AND FOR IT TO BE BETTER UNDERSTOOD, WE WILL USE A CASE SCENARIO FOR IT TO BE EASIER UNDERSTOOD.

SCENARIO

If one wishes to purchase a car of N3,000,000 , how much will be the first installmental payment and how much will the subsequent monthly payment be ?


Firstly there are some key factors which have to be known to you.
The interest rates charged by banks vary according to income. That means that the higher your income the lower the rates
The standard rates charged vary from 22%-24%
You are required to take out a comprehensive insurance policy at the point of initial payment.
the premium charged per annum is 5% of the value of the vehicle
You must have at least a 6 month active account
Registration & licensing is also a pre-requisit



VALUE OF CAR N3,000,000.00

10% INITIAL PAYMENT 10% OF N3,000,000.00 = N300,000.00

REMAINING BALANCE N3,000,000.00 - N300,000.00 = N2,700,000.00

BANK INTEREST (using 22% in dis case) 22% OF N2,700,000.00 =N 594,000.00

TOTAL AMOUNT PAYABLE (interest+balance) N2,700,000.00 + N594,000.00 = N3,294,000.00

AMOUNT PAYABLE MONTHLY (5 years in dis case) N3,294,000.00 DIVIDED BY 60 MONTHS =N54,900.

INSURANCE(5% of value) 5% OF N3,000,000.00 = N 150,000.00





PAYMENT SCHEDULE


10% INITIAL PAYMENT N300,000.00
5% INSURANCE N150,000.00
REGISTRATION & LICENSING N 35,000.00
___________
TOTAL INITIAL PAYMENT N 485,000.00



SUBSEQUENT MONTHLY PAYMENT (for 60 months) N54,900.00

PLEASE BE INFORMED THAT YOU CAN NOW ACQUIRE A BRAND NEW CAR BY JUST PAYING 20% OR 10%OF THE ACTUAL PRICE (DEPENDING ON THE BANK USED) AND THE CAR IS YOURS. THEN YOU CAN START PAYING FOR THE FULL AMOUNT OVER A PERIOD OF A MAXIMUM OF 5 YEARS,

PLEASE CALL, 07042196531, 018521655, 07055679096