CrediCorp has launched a N100 billion car ownership credit scheme aimed at making vehicle acquisition more accessible for Nigerians. The initiative is designed to provide flexible financing options for individuals and businesses looking to purchase new or pre-owned vehicles, easing the financial burden of outright payments.
According to CrediCorp, the scheme offers competitive interest rates, extended repayment periods, and minimal upfront deposits to ensure affordability. The company aims to bridge the gap in vehicle financing by catering to salaried employees, entrepreneurs, and corporate organizations seeking fleet expansion.
With the high cost of vehicles and foreign exchange challenges affecting the automobile market, many Nigerians struggle to afford car purchases. CrediCorp’s financing solution is expected to increase vehicle ownership, boost the automotive industry, and support mobility across the country.
Industry analysts have praised the initiative, noting that improved access to car financing can enhance productivity, especially for those in transport and logistics businesses. The company has also assured that the loan process will be simplified, leveraging digital tools to enable seamless applications and approvals.
As Nigeria continues to face economic uncertainties, innovative credit schemes like this could play a crucial role in improving financial inclusion and expanding consumer access to essential assets. CrediCorp has expressed confidence that the scheme will empower many Nigerians, making car ownership a reality for a wider segment of the population.
Support InfoStride News' Credible Journalism: Only credible journalism can guarantee a fair, accountable and transparent society, including democracy and government. It involves a lot of efforts and money. We need your support. Click here to Donate