How to Apply for Cars45 Loan, All Information

Cars45 auto loans function similarly to an asset finance plan, allowing you to acquire a loan approval in as little as 72 hours, receive the car, and pay it off over time. Basically, you have a maximum of 12 months to return the loan, with a monthly interest rate of 2.5 percent. Here’s is how to apply for Cars45 loan and all you need to know about one of Nigeria’s finest auto loans.

Who may apply for a Cars45 vehicle loan?

To be considered for a Cars45 vehicle loan, you must satisfy certain conditions. Essentially, you must have a consistent source of income, as evidenced by your recent bank statements. As a result, only salaried employees and company owners are eligible to apply. All unstable and low-income individuals are ineligible to apply.

How can I apply for a car loan with Cars45?

Follow the steps below to apply for a car loan:

  • To get started, go to their official website, https://buy.cars45.com, or any of their retail locations.
  • Choose from a Grade A, B, or C automobile with a maximum value of N3, 000,000 for your desired form of car finance.
  • In the “get a vehicle loan” area, fill in the requested information and click “Get Prequalified.”
  • In addition, follow the instruction and answer the questions that follow.
  • Finally, enter your information, and a Cars45 representative will contact you within 24 hours.
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What papers do I need to apply for a car loan with Cars45?

You’ll need to submit the following information throughout the application process:

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  1. A completed application form downloaded from their website
  2. Valid identification card (such as a voter’s card, driver’s licence, national identity card, or foreign passport)
  3. A utility bill that is no more than three months old as of the date of your application
  4. For salaried employees, a letter of employment is required, as is a CAC document for business owners.
  5. For salary workers, a six-month bank statement is required; for company
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What kind of vehicles are available via the Cars 45 auto loan programme?

According to the automobile’s rating, the Cars45 car loans are divided into three primary groups. Basically, each automobile is assigned an A, B, or C grade based on its quality. The automobile will be more costly if the grade is higher. The categories, however, have a maximum value of N3, 000,000.

Do I have to contribute anything to the Cars45 vehicle loans?

You certainly do. A minimum equity investment of 30% of the car’s cost is required for the loan. They would not approve your loan application unless you provided this. You can also only get your automobile when you’ve paid the equity contribution, not earlier.

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What is the length of the loan and the interest rate for Cars45 Car loans?

The loan term is now set at 12 months, with a rate of interest of 2.5 percent. As a result, you may have the automobile now and pay for it over the following 12 months. Keep in mind, though, that you’ll be paying 2.5 percent more than the amount they borrowed from you to buy the automobile.

How can I get in touch with Cars45 about vehicle loans?

You can contact us using any of the following methods:

Call +234 818 984 0160 for further information.

Please contact us at help@cars45.com.

Conclusion

Cars 45 loans is a fantastic asset finance programme that allows you to buy a car in a short period of time. It eliminates the burden of making a 100 percent upfront payment for a little fee of 2.5 percent interest over the course of 12 months.

Source: Nyscinfo

Updated: August 26, 2021 — 3:02 am

The Author

Stephen Adoga

Stephen Adoga is a trained journalist, researcher, creative writer, content creator, video editor and freelancer. He studied Mass Communication at the Lagos State Polytechnic, Ikorodu, where he acquired requisite training for the practice of journalism. He loves the media. His interest mostly lies in the print medium where his creative writing skill makes him a perfect fit.

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