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AUTO LEASING
AUTO LEASING DEPARTMENT
We lease out cars to either private or commercial users at an affordable price compared to all other car leasing companies.
TYPES OF LEASE
Outright Purchase
Commercial lease
Private lease
Car Trade In
Non-Hire purchase
Short Term Lease
Long Term Lease
OUTRIGHT PURCHASE
In outright purchase,you are required to Make a one - off payment and take full ownership of the car. We offer competitive prices in line with your budget either salvage or brand new cars.
HOW IT WORKS
Payment are made up front after which ownership is transferred to the buyer.
CAR TRADE IN
Do you have a car but desire a superior model in exchange? 123Ryde Mega Lease team can help!
HOW IT WORKS
We will inspect your car to determine its value, you can balance us in full to take immediate ownership of the new car or spread the balance in 12 months or less, please bear in mind that the trade in price we offer can vary depending on a number of factors, including car condition, our current inventory and terms of payment of purchase agreement.
COMMERCIAL LEASE (HIRE PURCHASE)
Cars are leased to commercial users/operators at an agreed payment cycle of 16 to 24months. This arrangement provision on commercial leasing is for individuals who cannot afford outright purchase or make deposits, but can be committed to weekly payment requirement within the lease period. Our preferred customers include mobile app taxi users and other licensed commercial operators.
PRIVATE LEASE
Our team give out cars to individuals for personal use with a 40% down payment while the remaining 60% is spread into period of monthly installments of not more than 12 months.
NON HIRE PURCHASE
We give out cars to commercial drivers on weekly payment basis while the car remains the company's property.
SHORT TERM LEASE
We do offer 3 - 6 months leasing contract, you may need a temporary car to drive around town or for project requiring a short-term period, we can help.
A payment of 40% of the car cost refundable security deposit is required. Our flexible service allows you to change to a longer-term plan should you decide to use the car for such purpose.
HOW IT WORKS
Here the lessee makes payment to lease the car on a short time basis. The lessee only acquires the right to use, not own the vehicle, in return for payments made over the period. The lease payment only covers for the period of lease. Payment of security refundable deposit of 40% of the car actual cost.
LONG TERM LEASE
We also offer a long-term payment plan which is cheaper than short term lease. The long-term payment plan is cheaper than the lease to own. A person has the option to drive the car of his choice for a minimum monthly lease payment.
HOW IT WORKS
The lease is for a period of 6 months to 1 year. 40% refundable security deposit of actual car cost
As part of our agreement with you, you can also take advantage of competitive rates on servicing, insurance and other essentials, and of course any damages caused on the vehicle whilst in your care, must ultimately come from your wallet. Long term car leases are an ideal solution for companies looking to get the maximum benefit out of their vehicles for the minimum investment. It offers flexibility of payment plans while the car remains with the hirer/lessee
PARTNERSHIP
We also manage cars on behalf of our partners by giving such cars to qualified drivers, while we remit payments into partners account based on the agreement reached by the company and the partner (monthly or weekly).
Our partnership system include three plans which include :
+ BRONZE INVESTMENT PLAN
+ SILVER INVESTMENT PLAN
+ GOLD INVESTMENT PLAN
BRONZE INVESTMENT PLAN
This is a leasing partnership system in which our customer can partner with us with one (1) car.
This contract is calculated on 100 weeks, but runs for 104 weeks, due to some days allowance that might be permitted for the drivers. However, partners still get the expected profit.
This contract runs for the duration of 104 weeks (2 years). However, if customer intends to continue with the company, a new contract will be drafted.
In the partnership structure;
1) Our customer opens an account and registers with us which will cost Zero Naira
2) Partner may now make a deposit of N1,500,000 for car purchase
3) Car is purchased on demand and this is done within 6 weeks of first deposit
4) Car is registered, tracked and Insured in the 7th week.
5) Car is given out to an assigned driver at a specified hire purchase value which usually amounts to a profit of 80% of investment in 2 years.
Weekly remittance will be made by the driver and partner can be paid weekly or monthly as preferred by the partner.
SILVER INVESTMENT PLAN
This is a leasing partnership system wherein a customer can choose to partner with the company using 3 cars.
1) Customer registers with 123Ryde at zero cost.
2) Customer makes a deposit for 3 cars which is N4,500,000
3) Cars are immediately purchased on demand and arrives within 6 weeks from deposit day
4) Cars are all registered/tracked and insured on the 7th week
5) Driver starts to make remittance on the 8th week and partner chooses mode of collecting remittance (weekly or monthly).
In 56th week customer would have generated N4,536,000 from 3 cars, which is slightly above the invested capital of N4,500,000 having an outstanding balance of N3,564,000 as profit, customer may choose to add cars with amount remitted over time during that year period.
If partner chooses to add cars:
In the 19th week partner may choose to add another car as he would have generated over N1,500,000 from remittance.
On the 33 week, 45 week and 55week respectively, partner may choose to add one (1) car each. By the end of the year, customer would have a total of 6 cars, with an outstanding remittance of N4,212,000 for the first 3 cars, for the next 56 weeks
GOLD INVESTMENT PLAN
This is a leasing partnership system wherein a customer can choose to partner with the company using 5 cars
1) Customer opens an account with us totally free of charge
2) Customer makes a deposit for 5 cars which is N7,500,000. Due to the uniqueness of this partnership customer may choose to make deposits on two installments which must be done within a month (i.e. the period of first deposit and second deposit must be done within the period of 4 weeks. N4,000,000 first deposit and N3,500,000 to balance up
3) If partners subscribes to this investment plan within the promo period customer gets the opportunity of getting a car for free, however customer only pays for the towing and shipping of the car.
4) Cars are purchased on demand and arrives within 6 weeks of first deposit
5) Cars are registered/tracked and insured on the 7th week
6) Drivers starts remittance on the 8th week and partner chooses mode of remittance (weekly or monthly)
7) In 12 weeks, customer may choose to add one car as the remittance would have accumulated over N1,500,000
8) In 56 weeks, customer would have realized the capital invested with an expected remittance of N5,940,000
On the 22nd week, partner may choose to add another car to make a total of 7 cars. With 7 cars, on the 30th week, enough remittance would have been done which can purchase another car for the business. At this rate, partner would have 12 cars in 56 weeks, with outstanding remittance of N21,033,000.
In week 12, the first 5 cars will generate N1,620,000 to add 1 car in 12 weeks interval.
LIST OF CARS AND PRICES FOR COMMERICIAL DRIVERS
| MAKE / MODEL | YEAR | PRICE RANGE ( |
WEEKLY REMITTANCE ( |
DURATION | REQUIRED DEPOSIT ( |
| Toyota Camry | 03 - 06 | 3,096,000 - 3,500,000 | 30,000 - 35,000 | 16 - 24 months | 200,000 - 128,000 |
| Toyota Corolla | 03 - 06 | 3,096,000 - 3,500,000 | 30,000 - 35,000 | 16 - 24 months | 300,000 - 500,000 |
| Honda Civic | 06 - 10 | 3,096,000 - 3,500,000 | 30,000 - 35,000 | 16 - 24 months | 200,000 - 300,000 |
| Hyundai Elantra | 07 - 10 | 3,096,000 - 3,500,000 | 30,000 - 35,000 | 16 - 24 months | 200,000 - 300,000 |
| Honda Accord | 03 - 07 | 3,096,000 - 3,500,000 | 30,000 - 35,000 | 16 - 24 months | 200,000 - 300,000 |
TAKE NOTE !!!
Please be informed that any other car model request apart from the ones listed above is treated as a special request, and applicants are therefore adviced to visit our office for more information or call the toll free line on 08000123123.
N:B. 123RYDE MEGA COMPANY LIMITED OFFERS WEEKLY PAYMENT FOR OUR CARS AT THE RATE OF 25,000NGN WITHOUT A HIRE PURCHASE PLAN, IF YOU CANNOT MEET OUR PAYMENT REQUIREMENT STATED ABOVE.
Our payment plans are flexible subject to your preference, as follows:
We charge 40% interest rate for a 12-month period i.e. 3.33 percent monthly on the actual cost of the car. It means a shorter duration of payment to offset the final cost of a car in the purchase agreement, the lesser the amount to paid on interest.
(A) WEEKLY INCREASE: It is either you increase your weekly payments and reduce the payment duration, and earn a discount due to the shorter payment period, OR
(B) INITIAL DEPOSIT: Make an initial deposit (15 to 50 percent) of car value to reduce your weekly payment within the specified duration, OR
(C) WEEKLY AND INITIAL DEPOSIT: Combine A and B above to further reduce the payment period thereby earning more discount.
It is important you understand the current market value for our car models and compare with our interest rate during the hire purchase period before making your judgment on our offers. These measures are put in place to help us serve you better!!!
DOWNLOAD DOCUMENTS
Please download the relevant documents below, fill and submit back to us. Feel free to contact us for more information
1) GUARANTORS FORM
2) LIST OF CARS & PRICES FOR COMMERICIAL DRIVERS
3) UBER/TAXIFY AND LICENCED OPERATORS
4) VEHICLE REGISTRATION FORM
5) CAR BUYING REQUEST FORM
6) CAR PICKUP FORM
