Wuse Motors (example)
New and certified used cars, with a one year warranty on used vehicles.
Asset finance
Own the things that make life easier.
The society buys from approved dealers and installers at member prices, you take the item home, and pay it off over up to 36 months. The item stays in the society’s name until the last payment.
- Example rate
- 1.25 percent a month
- Up to
- ₦12,000,000
- Term
- Up to 36 months
- Deposit
- From 10 percent
Chapter 01
What members buy.
The four most common items in 2025, with example repayments at 1.25 percent a month after a 10 percent deposit.
| Item | Example price | Term | Example monthly repayment |
|---|---|---|---|
| A family car | ₦9,000,000 | 36 months | ₦304,000 |
| Solar, 5kVA with batteries | ₦3,200,000 | 24 months | ₦155,000 |
| Laptop and printer for work | ₦1,100,000 | 12 months | ₦100,000 |
| Fridge, freezer and cooker | ₦1,600,000 | 18 months | ₦100,000 |
Example rates for this demo. Loan rates are set by members at the AGM. Any dividend is decided each year from the surplus and past dividends do not promise future ones. Savings are not a deposit with a bank.
Chapter 02
From choosing to keys.
Four steps, usually done within two weeks.
01
Choose the item.
Pick from an approved dealer or installer, or bring us a quotation from a seller you trust. We check the price.
02
Pay the deposit.
Ten percent for most items, twenty for used cars. Your savings can count towards it.
03
The society pays the seller.
Directly, so you never carry cash. Cars are registered with the society as co-owner.
04
You repay monthly.
By salary deduction or transfer. The final payment transfers full ownership to you.
Chapter 03
Approved partners.
Dealers and installers who give members a fair price and a warranty. Names are examples.
Bright Grid Solar (example)
Inverters, panels and batteries, installed and serviced for two years.
Kado Home Appliances (example)
Fridges, freezers, cookers and air conditioners at bulk prices.
Questions
About asset finance.
Can I buy from any seller?
Yes, if the price is fair and the seller can give a proper receipt. We pay the seller directly.
Is the item insured?
Cars must have comprehensive insurance. Solar systems and appliances are covered by the seller’s warranty.
What if I want to repay early?
You can, with no penalty, and ownership passes to you on the day.
Can I finance two items?
One asset loan at a time, alongside your other loans if you pass the one third test.
Price your item.
See the monthly repayment in the calculator.