Compare Vehicle Loans

 

Vehicle Purchase

Minimum Loan Term

3 month

Minimum Loan Amount

₦2,000,000

Loan Interest

2.9%

Benefits

General Details

  • Maximum loan amount
    N200,000
  • Maximum loan term
    3 months
  • Max. age
    64
  • Min. age
    22
  • Verification fee
  • Late fees
  • Employment status
    Employed

Feature and General Information

  • Collateral for loan

Wema Asset Acquisition Scheme (WAAS)

Minimum Loan Term

6 months month

Minimum Loan Amount

₦500,000

Loan Interest

30%%

Benefits

  • Equity contribution of as low as 20%
  • Only brand new assets will be financed
  • Competitive interest rate

General Details

  • Maximum loan amount
    Contact the bank
  • Maximum loan term
    48 months
  • Equity Contribution
  • Obligor limit
  • Collateral
  • Eligibility
    salary domiciliation

Auto Loan

Minimum Loan Term

12 month

Minimum Loan Amount

₦500,000

Loan Interest

3.5%

Benefits

  • Up to N30,000,000
  • Installation of free tracking device
  • No residual cost at end of loan
  • No security required

General Details

  • Maximum loan amount
    N7,5000,000
  • Maximum loan term
    48 months
  • Equity Contribution
    Minimum of 20%
  • Obligor limit
  • Collateral
  • Eligibility
    Individuals in structured employment.
    Self-employed individuals with regular income.

Automobile Loan

Minimum Loan Term

1 month month

Minimum Loan Amount

₦500,000

Loan Interest

22% p.a.%

Benefits

  • Up to N15 million
  • Salary domiciliation
  • A year free car servicing
  • Free car registration

General Details

  • Maximum loan amount
    N15,000,000
  • Maximum loan term
    48 months
  • Equity Contribution
    20%
  • Obligor limit
  • Collateral
  • Eligibility
    Applicants with salary account with FirstBank.
    Facility is restricted to the purchase of brand-new vehicles only.