PiggyVest and Mikano Motors have partnered to provide Nigerians with an alternative route to new vehicle ownership through an organised savings plan that allows customers to pay for cars gradually.

The initiative, tagged “Own Your Dream Car with PiggyVest”, was unveiled at a press briefing in Lagos and is designed to enable income-earning Nigerians save towards the purchase of brand-new Mikano vehicles through PiggyVest’s “Get It” feature.

Under the arrangement, customers can select their preferred vehicle on the PiggyVest platform, view available models, images and videos, and begin saving towards their purchase. The vehicle is delivered after the required payment is completed.

Speaking at the launch, Chief Operating Officer of PiggyVest, Ayo Akinola, said the partnership was aimed at addressing the affordability challenge created by rising vehicle prices.

He said the initiative would provide a structured path to vehicle ownership for Nigerians whose incomes may make outright purchases difficult.

According to him, customers could participate in the scheme with savings of as little as N5,000, with the long-term objective of enabling more Nigerians to achieve vehicle ownership through disciplined savings.

Akinola said PiggyVest selected Mikano Motors as its automotive partner based on the company’s reputation for vehicle quality, durability, after-sales support, spare-parts availability and warranty coverage.

The Chief Marketing Officer of PiggyVest, Joshua Chibueze, said the scheme was open to all income-earning Nigerians who could maintain a consistent savings pattern.

He added that the initiative would allow customers to choose from a range of Mikano vehicles directly through the PiggyVest app and work towards ownership at their own pace.

Head of Operations, Mikano Motors, Syam Abdulkadir, said the partnership was consistent with the company’s “affordable luxury” positioning.

He announced a N2 million cashback incentive for PiggyVest customers who complete their vehicle purchases within the first 12 months of the initiative.

Abdulkadir, however, explained that the scheme would operate under a dynamic pricing model, meaning customers’ savings targets could be reviewed if vehicle prices increase during the savings period.