Bank loan · Cars
UBA and Mikano Motors
UBA's "Drive Your Dream Today" scheme for new cars from Mikano Motors, open to salaried and self-employed customers.
Terms
- Deposit
- 30% of the car's price
- Cost
- 23% a year. Ask whether it is charged on a reducing balance.
- Term
- 36 months
- Repayments
- Monthly
Not specific to electric cars. Ask Mikano which electric models qualify.
How it works
- 1Confirm eligibility with UBA.
- 2Get a proforma invoice from Mikano Motors for your chosen car.
- 3Pay 30% and UBA finances the rest over 36 months.
Estimate your repayments
Estimated monthly repayment
₦812,904
for 36 months after a ₦9m deposit
- Deposit
- ₦9,000,000
- Amount borrowed
- ₦21,000,000
- Interest
- ₦8,264,549
- Total you pay
- ₦38,264,549
An estimate on a reducing balance, the way AltDrive's own calculator works. Lenders may add insurance, fees or a different rate after assessing you. Running costs are separate: see the ownership calculator.