Buy Your Car on a Loan
Earn ₦500k+? You may qualify for car financing. BuyCar matches you with trusted Nigerian banks — no hidden fees, no stress. Fill a 2-minute form to get started.
Get Prequalified — Free →How It Works
Tell us what you want
Fill a quick form: your income, the car you want, and how much you can put down. Takes 2 minutes.
We match you with a bank
BuyCar sends your details to our vetted financing partners. They review and prequalify you — usually within 24-48 hours.
Get approved & pick your car
Once approved, the bank tells you your limit and monthly payment. You pick any car on BuyCar within that budget - or tell us what you want and we will find it.
Drive away
The bank pays the dealer, you drive away with your car and pay the bank monthly. BuyCar stays with you through the process — any issue, message us.
Free
No fees from BuyCar
24–48h
Prequalification time
10%
Down payment possible
Frequently Asked Questions
How much do I need to earn to qualify?
Most banks require a minimum monthly income of ₦300,000–₦500,000 for car loans. The higher your income relative to the car price, the better your chances.
How much down payment do I need?
Down payment requirements vary by financing partner and your profile - typically 10% to 40% of the car value. Your assigned partner will confirm your exact requirement after reviewing your application.
What documents do I need?
Usually: valid ID, proof of income (pay slips or bank statements), employment/business letter, utility bill. The bank will tell you exactly what they need after prequalification.
How long does approval take?
Prequalification is usually 24–48 hours. Full approval (after documents) takes 3–7 business days depending on the bank.
Can I finance a Tokunbo (used) car?
Yes — several banks finance foreign-used cars, though interest rates may be slightly higher than for brand new. The car usually needs to be less than 8 years old.
What are the interest rates?
Rates range from 18% to 28% per annum depending on the bank, your profile, and the car. Use our loan calculator to estimate your monthly payment.
Does BuyCar charge for this?
No — the prequalification is completely free. BuyCar earns from the car listing, not from the financing. We match you with a financing partner at no cost to you.