Kia, Autochek offer low equity car loan to customers

In a bid to make new vehicle ownership easy and accessible, Kia Nigeria has partnered with Autochek to offer customers an auto finance scheme for prospective buyers.

Following the launch of a dedicated brand-new cars section on the Autochek website and mobile app, Kia customers can now access digital financing solutions for brand new models with repayment tenures of up to 60 months.

The lowest interest rates in the market from financial partners, including Ecobank and NCBA with a zero per cent equity loan product, Access Bank and Stanbic KE with unique financing solutions tailored specially for brand new vehicles with up to 90 per cent financing.

Speaking at the launch of the auto finance acquisition scheme, Vice President, Kia Nigeria, Olu Tikolo, said: “Our core competitive edge in the auto industry is the offering of best-in-class vehicles at an affordable price and we are delighted to partner with Autochek to make owning the Kia range of vehicles easily accessible via their website or mobile applications and equally affordable with flexible payment options.”

Chief Operating Officer, Autochek Africa, Timi Tope Ologunoye, said: “We are excited to partner with financiers and KIA to provide a brand new car loan 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.”

Ologunoye added that financing for new cars, like Kia, 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.

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 repayable for a period of between four and five years. The loans are also processed within 24 hours.