GAC Motors Asset Financing

Buy a brand-new car from GAC Motors and pay back at your convenience with our auto-financing options.

With a flexible repayment plan that spans up to five years, you can own any GAC car of your choice!

Benefits

  • Low-interest rates, as low as 0%
  • Minimum equity contribution of 10%
  • Competitive interest rates
  • Convenient and flexible repayment plan, up to 60 months
  • Loan amount of up to 50 million naira

Eligibilty

  • Open to all new and existing payroll customers

Documentation Requirements

  • Duly completed loan application form
  • Proforma invoice with 30 days validity from the vendor
  • Letter of introduction/undertaking for salary account domiciliation

Ready to make your purchase? Click HERE to fill out this form.

Frequently Asked Questions

How can I enjoy the 0% interest rate?

The 0% interest rate is available to customers who can make a 25% down payment and pay off the balance in 24 months.

Do I need to make any contribution to the loan?

Yes, the minimum equity contribution is only 10% of the total cost of the vehicle.

What is the monthly interest rate?

Under this scheme, the interest rate is as low as 0%.

Must I have a Union Bank account to be eligible?

Yes, you can open a Union Bank account at the instance of this request.

Must I have a salary account before I can apply?

Yes. You can open one at the instance of this request.

Can I access a car loan as a self-employed individual?

This offer is only available for salary earners for now.

If I lose my job after accessing a loan, is there a way to restructure the loan?

Yes, loans can be restructured around the borrower’s current financial capability.

How much am I eligible to apply for?

Your income and the tenor of the loan will determine this.

 

Do you accept payment in instalments?

Yes. Loans can be repaid via a monthly repayment of principal and interest (where applicable).

What is the duration for the repayment of the car loan?

Up to 60 months. However, interest-free financing is available only for those who can repay within 24 months, with a 25% equity contribution.

How can I open a salary account?

Please visit the nearest Union Bank branch or call 07007007000.