Top 20 Hire Purchase Companies in Lagos, Nigeria

Top 20 Hire Purchase Companies in Lagos, Nigeria

Lagos, Nigeria, is a bustling economic hub where hire purchase companies play a vital role in enabling individuals and businesses to acquire assets like vehicles, electronics, and household goods through flexible installment payment plans. These companies partner with financial institutions, retailers, and manufacturers to offer affordable financing options, making essential goods accessible to a wide range of customers. Below is a curated list of 20 prominent hire purchase companies in Lagos, based on their market presence, services, and available data from sources such as BuyCars.ng, Credpal.com, and other industry insights. Each entry includes the official website, description, address, services, price range, social media accounts, and founder/owner information where publicly available. Note that pricing details (e.g., interest rates, repayment terms) vary by asset and credit profile, and some founder information may be limited due to lack of public disclosure.

1. BuyCars.ng

  • Link to Official Website: www.buycars.ng
  • Description: A leading online car dealership and brokerage specializing in hire purchase schemes for foreign-used (tokunbo) and Nigerian-used cars, offering flexible payment plans for individuals and businesses.
  • Address: Not publicly listed; based in Lagos (contact via website).
  • Services: Car financing, installment payment plans, vehicle inspection, car swap services, and loan processing with partner banks.
  • Price Range: Interest rates 5%–20% over 3–18 months; vehicles priced ₦2M–₦20M+ (verify on website).
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed; managed by BuyCars Online Nigeria.

2. Credpal

  • Link to Official Website: www.credpal.com
  • Description: A fintech platform offering buy-now-pay-later services for electronics, appliances, and lifestyle products, with a focus on seamless digital financing solutions.
  • Address: 3rd Floor, 32A Adeola Odeku Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase for electronics, appliances, and gadgets; credit card issuance; loan processing; and merchant partnerships.
  • Price Range: Interest rates 4%–15% per annum; repayment plans up to 12 months; product prices vary (₦50,000–₦5M).
  • Social Media Accounts:
  • Founder and Owner: Founded by Fehintolu Olaogun and Olorunfemi Jegede.

3. Carbon (Paylater)

  • Link to Official Website: www.getcarbon.co
  • Description: A digital financial services provider offering hire purchase options through partnerships with retailers for electronics, vehicles, and household goods.
  • Address: 14 Adeola Hopewell Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, bill payments, and investment products.
  • Price Range: Interest rates 5%–20% per annum; repayment plans 3–24 months; product prices vary (₦100,000–₦10M).
  • Social Media Accounts:
  • Founder and Owner: Founded by Chijioke Dozie and Ngozi Dozie.

4. Autochek

  • Link to Official Website: www.autochek.africa
  • Description: A leading automotive platform offering hire purchase for vehicles, combining digital marketplaces with financing solutions for new and used cars.
  • Address: 12B Olubunmi Owa Street, Lekki Phase 1, Lagos, Nigeria.
  • Services: Car financing, vehicle inspection, maintenance services, and online car marketplace.
  • Price Range: Interest rates 6%–18%; repayment plans 12–36 months; vehicles priced ₦3M–₦30M+.
  • Social Media Accounts:
  • Founder and Owner: Founded by Etop Ikpe.

5. Rosabon Financial Services

  • Link to Official Website: www.rosabonfin.com
  • Description: A pioneer in Nigeria’s hire purchase industry, offering financing for vehicles, household appliances, and business equipment since 1993.
  • Address: 32 Montgomery Road, Yaba, Lagos, Nigeria.
  • Services: Hire purchase for vehicles, appliances, and equipment; personal and business loans; lease financing.
  • Price Range: Interest rates 8%–20%; repayment plans 6–24 months; asset prices vary (₦500,000–₦15M).
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed; managed by Rosabon Financial Services Limited.

6. Cars45

  • Link to Official Website: www.cars45.com
  • Description: A major automotive trading platform offering hire purchase options for used cars, with a focus on transparency and quality assurance.
  • Address: 1B Oladimeji Alo Street, Lekki Phase 1, Lagos, Nigeria.
  • Services: Car financing, vehicle sales, trade-ins, and inspection services.
  • Price Range: Interest rates 7%–18%; repayment plans 12–36 months; vehicles priced ₦2M–₦25M.
  • Social Media Accounts:
  • Founder and Owner: Founded by Etop Ikpe; acquired by OLX Group.

7. Credit Direct Limited

  • Link to Official Website: www.creditdirect.ng
  • Description: A licensed lender offering hire purchase financing for consumer goods and vehicles, targeting salaried employees and businesses.
  • Address: 48/50 Isaac John Street, GRA, Ikeja, Lagos, Nigeria.
  • Services: Hire purchase for appliances and vehicles, personal loans, and payroll lending.
  • Price Range: Interest rates 6%–20%; repayment plans 3–18 months; asset prices ₦100,000–₦10M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed; subsidiary of FCMB Group.

8. Baobab Microfinance Bank

  • Link to Official Website: www.baobabgroup.com
  • Description: A microfinance institution offering hire purchase for small business assets, vehicles, and consumer goods, with a focus on financial inclusion.
  • Address: 13A Oba Akran Avenue, Ikeja, Lagos, Nigeria.
  • Services: Hire purchase financing, microloans, SME loans, and savings products.
  • Price Range: Interest rates 10%–25%; repayment plans 6–24 months; asset prices ₦50,000–₦5M.
  • Social Media Accounts:
  • Founder and Owner: Subsidiary of Baobab Group; no individual founder disclosed.

9. PayAttitude

  • Link to Official Website: www.payattitude.com
  • Description: A fintech company offering hire purchase through digital payment solutions, partnering with retailers for electronics and household goods.
  • Address: Plot 16, Providence Street, Lekki Phase 1, Lagos, Nigeria.
  • Services: Hire purchase financing, digital payments, and merchant solutions.
  • Price Range: Interest rates 5%–15%; repayment plans 3–12 months; product prices ₦50,000–₦3M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

10. Altara Credit Limited

  • Link to Official Website: www.altaracredit.com
  • Description: A consumer finance company offering hire purchase for appliances, electronics, and furniture, targeting underserved communities.
  • Address: 8A Adeola Hopewell Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase for consumer goods, microloans, and retail partnerships.
  • Price Range: Interest rates 8%–20%; repayment plans 3–12 months; product prices ₦20,000–₦1M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

11. FastCredit Limited

  • Link to Official Website: www.fastcredit-ng.com
  • Description: A financial services provider offering hire purchase for vehicles and consumer goods, with quick loan processing for salaried employees.
  • Address: 84 Kwame Nkrumah Crescent, Asokoro, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and SME loans.
  • Price Range: Interest rates 7%–18%; repayment plans 6–24 months; asset prices ₦100,000–₦10M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

12. Zedvance Finance

  • Link to Official Website: www.zedvance.com
  • Description: A digital lender offering hire purchase for consumer goods and vehicles, with a focus on instant loan approvals and flexible repayment plans.
  • Address: 2A Agodogba Avenue, Parkview Estate, Ikoyi, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and digital lending.
  • Price Range: Interest rates 5%–15%; repayment plans 3–18 months; asset prices ₦50,000–₦5M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

13. C24 Limited

  • Link to Official Website: www.c24.com.ng
  • Description: A fintech company providing hire purchase for electronics, vehicles, and appliances, with a focus on digital loan processing.
  • Address: 15B Adeola Hopewell Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and SME loans.
  • Price Range: Interest rates 6%–20%; repayment plans 3–24 months; asset prices ₦100,000–₦10M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

14. FairMoney

  • Link to Official Website: www.fairmoney.io
  • Description: A digital bank offering hire purchase for consumer goods and vehicles, leveraging technology for fast loan approvals and repayments.
  • Address: 1B Alexander Road, Ikoyi, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, bill payments, and digital banking.
  • Price Range: Interest rates 5%–18%; repayment plans 3–12 months; asset prices ₦50,000–₦5M.
  • Social Media Accounts:
  • Founder and Owner: Founded by Laurin Nabuko.

15. Branch Nigeria

  • Link to Official Website: www.branch.co
  • Description: A global fintech offering hire purchase and personal loans through a mobile app, focusing on accessibility for salaried and self-employed individuals.
  • Address: 23A Adeola Odeku Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and digital banking.
  • Price Range: Interest rates 10%–25%; repayment plans 3–12 months; asset prices ₦20,000–₦2M.
  • Social Media Accounts:
  • Founder and Owner: Founded by Matt Flannery and Daniel Jung.

16. Renmoney

  • Link to Official Website: www.renmoney.com
  • Description: A microfinance bank offering hire purchase for consumer goods and vehicles, with a focus on fast loan approvals and flexible terms.
  • Address: 23 Awolowo Road, Ikoyi, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and savings products.
  • Price Range: Interest rates 8%–20%; repayment plans 3–24 months; asset prices ₦100,000–₦10M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

17. Aella Credit

  • Link to Official Website: www.aella.app
  • Description: A fintech platform offering hire purchase for electronics and household goods, with a focus on digital lending for salaried employees.
  • Address: 8B Adeola Hopewell Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and health insurance partnerships.
  • Price Range: Interest rates 6%–20%; repayment plans 3–12 months; product prices ₦50,000–₦2M.
  • Social Media Accounts:
  • Founder and Owner: Founded by Akin Jones and Wale Akanbi.

18. QuickCheck

  • Link to Official Website: www.quickcheck.ng
  • Description: A digital lending platform offering hire purchase for consumer goods through partnerships with retailers, using AI-driven credit scoring.
  • Address: 4B Ologun Agbaje Street, Victoria Island, Lagos, Nigeria.
  • Services: Hire purchase financing, personal loans, and digital lending.
  • Price Range: Interest rates 10%–25%; repayment plans 3–12 months; product prices ₦20,000–₦1M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed.

19. Kia Nigeria

  • Link to Official Website: www.kianigeria.com
  • Description: An automotive company offering hire purchase for Kia vehicles through partnerships with financial institutions, focusing on quality and affordability.
  • Address: 307 Adeola Odeku Street, Victoria Island, Lagos, Nigeria.
  • Services: Vehicle sales, hire purchase financing, and after-sales services.
  • Price Range: Interest rates 6%–18%; repayment plans 12–36 months; vehicles priced ₦5M–₦30M.
  • Social Media Accounts:
  • Founder and Owner: Not publicly disclosed; managed by Kia Motors Nigeria.

20. SLOT Systems Limited

  • Link to Official Website: www.slot.ng
  • Description: A leading retailer of electronics and mobile phones, offering hire purchase options through partnerships with lenders like Credpal.
  • Address: 2B Medical Road, Ikeja, Lagos, Nigeria.
  • Services: Hire purchase for phones, laptops, and accessories; retail sales; and repair services.
  • Price Range: Interest rates 5%–15%; repayment plans 3–12 months; product prices ₦50,000–₦2M.
  • Social Media Accounts:
  • Founder and Owner: Founded by Nnamdi Ezeigbo.

Notes:

  • Data Limitations: Many hire purchase companies, especially smaller fintechs, do not publicly disclose founder information or detailed pricing. Contacting companies directly via email or visiting their offices is recommended for precise details.
  • Price Ranges: Interest rates and repayment terms depend on credit profiles, asset types, and partner banks. Prices for vehicles and goods are estimates based on market data; verify with each company for current rates.
  • Sources: Information compiled from BuyCars.ng, Credpal.com, Autochek.africa, company websites, and industry insights.
  • Verification: Prospective customers should confirm eligibility requirements (e.g., ID, employment letter, bank statements) and pricing, as terms may vary. Visiting company websites or offices is advised.

Lagos’ hire purchase companies provide accessible financing solutions for vehicles, electronics, and household goods, catering to diverse economic segments. From fintech innovators like Credpal and Carbon to automotive leaders like Autochek and Kia Nigeria, these firms drive financial inclusion and economic empowerment in Nigeria’s commercial capital.

bornbyai

0 responses to “Top 20 Hire Purchase Companies in Lagos, Nigeria”