Our Products:
- Drive To Pay
Product Purpose:
To enable Commercial Drivers, Businesses, individuals and Unions who do not have access to funding to purchase their own vehicles by making payment installments on a hire-purchase scheme
Features
- Driver with a valid driving license.
- For Businesses and Unions; a registration certificate from the Registrar General Department or Department of Cooperatives and a bank statement covering a period of 6 months.
- Weekly repayment frequency.
- Maximum period duration of three years.
- Equipment or vehicle held as collateral.
- A guarantor with a predetermined salary.
- First-year Comprehensive Insurance.
Terms and Conditions
IMPORTANT
We have plans of starting operations in other regions of Ghana, but at the moment this product is only limited to residents of Greater Accra.
Bookings for limited number of cars are ongoing for the year 2023.
CAR ON OFFER
Toyota Yaris(Vitz) hatchback.
Year of manufacture - 2008-2010 1.0L
Requirements
1. A valid driver's license is required of the Hirer
2. A guarantor with a salary or an income over 1500
Benefit
- First-year comprehensive insurance
- Registration of the car
PAYMENT SCHEDULE
N.B Upfront payments for 3yrs, 2yrs and 2 and a half years are the least and reserved for only Drivers.
Clients that would want to procure cars for third parties to Drive on their behalf shall advance at least Ghc 22,000 as "upfront payment".
PERIOD OF PAYMENT: 3 YEARS / 156 WEEKS
Upfront payment _____ Ghc 10,000
Weekly Sales _____ Ghc 709.58
PERIOD OF PAYMENT: 2 AND HALF YEARS / 130 WEEKS
Upfront payment _____ Ghc 16,000
Weekly sales _____ Ghc 655.29
PERIOD OF PAYMENT: 2 YEARS / 104 WEEKS
Upfront payment _____ Ghc 16,000
Weekly sales _____ Ghc 725
Details for calculations
Principal ---------------------- Ghc 50,000
Monthly Interest Rate ---------------------- 4.5 %
Processing fee charged on principal ----------------------- 4.5%
N.B
- Processing is taken out from the upfront payment
- What remains of the upfront payment in (1) -- is then deducted from the principal before interest is applied.
These terms are valid until 31st December 2022.