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Autochek Begins Loan Services for Brand New Cars, Trucks

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Autochek loan services

By Modupe Gbadeyanka

As part of its efforts to deepen mobility, the leading auto tech platform, Autochek Africa, has launched a loan services platform to allow users to get the credit facility to acquire brand new vehicles.

A statement issued by the firm said users can access the loans for the purchase of the new cars and trucks through a dedicated brand new cars section on the Autochek website and mobile app.

It was stated that through this digital financing package, customers can make repayments in 60 months at the lowest interest rates in the market from regional partners such as Ecobank and NCBA with a zero per cent equity loan product and Access Bank and Stanbic KE with unique financing solutions tailored specially for brand new vehicles with up to 90 per cent financing.

On the Autochek auto loan services platform, customers in East and West Africa can access a variety of financing options to purchase new cars and trucks from reputable manufacturers.

So far, the platform has on-boarded a network of financing partners and over 30 vehicle brands from OEMs, including key regional players like Inchape (LandRover)  and CMC (Ford and Eicher Trucks) in East Africa and Dana (Kia), Coscharis (BMW, Landrover), Globe (Mercedes Benz), Elizade (Toyota) in West Africa.

Autochek is also working closely with indigenous manufacturers such as Innosson Motors and Nord Motors.

As part of the investment by Mobility54, Autochek has also partnered with CFAO (Toyota, Suzuki, Mitsubishi) across Africa to facilitate auto financing for all CFAO brands.

“We are excited to partner with financiers and the automotive industry to provide this facility. It is in response to customer feedback to democratise the purchase of brand-new cars through great and affordable financing options.

“It is complemented by Autochek Africa’s residual value analysis tool that can guide financial partners on the condition of the vehicle over time,” Autochek Africa’s COO, Timi Tope Ologunoye said.

The Autochek auto loan services platform offers a variety of financing options from over 70 banks, with attractive terms that include a 15 per cent interest rate and is repayable for a period of between four and five years. The loans are also processed within 24 hours.

Timi added that financing for new cars is part of the company’s vision to unlock a new frontier of automotive fintech and cement its position as the most innovative auto loan platform in the region.

Whereas customers are assured of a good deal for brand new cars and attractive interest rates, distributors also get pre-approved prospective buyers.

According to research, the African automotive estimated market size is currently valued at $90 billion in 2020, and this is expected to grow by 30 per cent largely driven by an increase in financing penetration at 10 per cent year-on-year.

Due to the impact of COVID last year, there was a decline in overall sales of new cars due to restrictions on production but is fast regaining momentum as economic activities resume.

Autochek’s SVP West Africa, Dr Mayokun Fadeyibi said: “We are on a mission to accelerate motorization across Africa by providing financing for brand new and used imports for our customers.”

With shifting consumer demands, the Autochek platform is building on partnerships opportunities with automotive manufacturers and financiers, to innovatively provide a more agile, tech-led approach to deliver options.

The company plans to extend its brand-new automobile portfolio through multiple carrier partners within the Autochek platform by the end of the year, with the goal of launching over 300 new cars listed across all markets.

The Autochek mobile app is currently available on Android and is due to be launched soon on iOS.

Modupe Gbadeyanka is a fast-rising journalist with Business Post Nigeria. Her passion for journalism is amazing. She is willing to learn more with a view to becoming one of the best pen-pushers in Nigeria. Her role models are the duo of CNN's Richard Quest and Christiane Amanpour.

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Interswitch Digitises Nigeria’s Interstate Travel With Ticket Vending Platform

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Interswitch

By Modupe Gbadeyanka

Nigeria’s interstate transport ecosystem has been digitalised by the introduction of a ticket vending platform by one of Africa’s leading integrated payments and digital commerce companies, Interswitch.

This comprehensive digital solution was designed to transform ticketing, streamline operations, and enhance service delivery.

At the core of the solution is a secure, token-based system that allows travellers to purchase digital tickets across multiple channels, including web, mobile, and dedicated point-of-sale (POS) devices deployed at transport terminals.

These tokens serve as verifiable digital vouchers, which are validated and redeemed at boarding points, significantly reducing inefficiencies associated with manual ticketing, cash handling, and fragmented sales processes.

It was developed as both an operational management system and a digital marketplace to allow transport operators, particularly small and medium-scale businesses, to digitise their end-to-end processes while connecting to a broader customer base through the Quickteller ecosystem.

With this innovation, operators can seamlessly create and manage routes, oversee terminal activities, track sales, and access real-time performance insights from a single, centralised platform.

It also introduces a marketplace experience that enables travellers to search, compare, and select transport options across multiple operators based on routes, schedules, and pricing. This not only simplifies journey planning but also promotes transparency and choice for commuters.

The platform also supports corporate and institutional users by enabling bulk token purchases, offering a flexible and efficient solution for organisations managing employee or group travel.

In addition, it delivers value to regulators and stakeholders within the transport ecosystem by providing access to structured data and actionable insights that can support oversight, licensing, and consumer protection efforts.

“Transportation remains a critical backbone of Nigeria’s economy, yet much of the sector still operates with fragmented systems and manual processes that limit efficiency and growth.

“With the Ticket Vending Platform, we are introducing a scalable digital infrastructure that empowers transport operators to modernise their operations, expand their reach, and deliver a more seamless experience to travellers.

“Beyond ticketing, this is about creating a connected ecosystem, one that brings together operators, commuters, and regulators on a unified platform, while driving transparency, efficiency, and long-term value across the industry,” the Managing Director for Industry Ecosystems at Interswitch, Ms Chinyere Don-Okhuofu, said.

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FRSC, Brewery Companies Renew Pact to Tackle Drink-Driving

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FRSC Brewery Companies

The Federal Road Safety Corps (FRSC) has renewed a strategic partnership with major brewing companies in Nigeria to intensify efforts against drunk driving and improve road safety nationwide.

The renewed Memorandum of Understanding (MoU), signed with members of the Beer Sectoral Group (BSG), extends the collaboration for another five years, with both sides pledging to deepen public awareness, enforcement and community engagement.

FRSC Corps Marshal, Shehu Mohammed, said the partnership underscores the importance of synergy between government and the private sector in addressing road crashes, particularly those linked to alcohol consumption.

He stressed that saving lives on Nigerian roads requires sustained collaboration, adding that the corps would continue to work with industry players to promote responsible behaviour among motorists.

Speaking on behalf of the BSG, Managing Director of Nigerian Breweries Plc and Chairman BSG, Thibaut Boidin, said the renewal reflects the industry’s commitment to sustained collaboration with regulators. He cited previous joint campaigns, including the Don’t Drink and Drive Campaign, as impactful, adding that the next phase would focus on expanding reach and strengthening implementation.

Also speaking, the Managing Director of Guinness Nigeria, Girish Sharma, said the industry remains committed to supporting initiatives that promote safer roads. He noted that while alcoholic beverages are often blamed for road crashes, the real issue lies in irresponsible consumption, particularly drinking and driving.

“We are here to work with you and ensure that this programme grows bigger and delivers real impact. Saving lives is what matters most,” he said.

Similarly, the chief executive of International Breweries Plc, Mr Nicholas Kade, commended the FRSC for its dedication, describing the corps’ efforts as critical to making communities safer. He said the brewing industry would continue to support initiatives that promote responsible drinking and road safety.

The Executive Director of the Beer Sectoral Group, Ms Abiola Laseinde, described the renewal as a milestone in public-private collaboration.

She said the partnership had driven nationwide campaigns against drunk-driving, influenced behaviour and reached millions of Nigerians with road safety messages.

Ms Laseinde added that both parties would scale up interventions in the next five years to further reduce crashes and promote responsible alcohol consumption.

The FRSC and BSG’s partnership has been central to national campaigns discouraging drunk-driving, with stakeholders expressing optimism that the renewed agreement will deliver stronger outcomes.

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NRS Denies Introduction of New Vehicle Tax from July 1

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By Modupe Gbadeyanka

The Nigeria Revenue Service (NRS) refuted reports making the rounds on social media that the federal government plans to introduce a new tax on vehicles from July 1, 2026.

Mr Dare Adekambi, who serves as the Special Adviser to the NRS Chairman, Mr Zach Adedeji, and spokesperson for the organisation, said in a statement that the government was not planning to introduce the vehicle tax as claimed.

He described a viral infographic purporting the policy as false and misleading, urging members of the public to disregard it.

Mr Adekambi advised citizens to only rely on information from the NRS, urging them to follow the company its official handles on all social media platforms and its website for accurate information about tax and its activities.

In the infographic, motorists were directed to pay an unspecified vehicle tax rate online or at approved banks and agencies. The website listed as NRS’s was the old one, http://www.firs.gov.ng and not the new http://www.nrs.gov.ng created after it was rebranded.

“The NRS wishes to state categorically that the information did not emanate from the service or any government agency.

“Citizens are, therefore, advised to disregard the fabricated messages designed to mislead the public and instead rely on official government channels for information on government policies,” Mr Adekambi said in the statement.

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