Rosabon Vehicle Finance Lease Review

Posted by Credit Nigeria

Rosabon Financial Services, offering diverse financial products, is known for its flexible vehicle financing solutions. It caters to both individual and corporate clients, facilitating the acquisition of new and used vehicles.

Rosabon Vehicle Finance Lease - Summary

Loan amount: n/a
Loan term: Up to 42 months
Monthly Interest rate: n/a

Get Loan Offers

Requirements to get a loan:

Salary Earner
Proforma Invoice
Valid ID
Bank Statement

Pros

Access to a wide range of new and used cars
Fast disbursement times, ensuring quick access to vehicle

Cons

Stringent requirements
A significant initial contribution is required

Loan Offerings

Loan Term: Up to 42 months for brand-new vehicles and 31 months for used cars.
Vehicle Types: Financing options cover new, Nigerian-used, and Tokunbo vehicles.
Eligibility: Available to individuals and businesses across Nigeria, provided the required vehicle is available in Lagos or Port Harcourt.

Unique Selling Points

Diverse Vehicle Options: Offers a range of vehicles, including new and used ones.
Swift Processing: Claims to provide vehicles within 48 hours, ensuring quick access to needed transportation.

Application Process

Applicants must complete a KYC application form and submit it with required documents like a Proforma Invoice, Company profile, Bank Statements, and a Letter of Intent to borrow. Additional documentation includes a Certificate of Incorporation, Memorandum of Association, Audited financial statements, and valid identification.

Customer Experiences

Testimonials indicate positive experiences, with customers praising Rosabon’s quick disbursement time and efficient account officer support. Customers have rated their services highly, citing satisfactory loan processes and customer engagement.

Pros and Cons

Pros:

Access to a wide range of vehicles, including new and used options.
Fast disbursement times, ensuring quick access to vehicles.
Various methods of loan application, enhancing accessibility.

Cons:

Stringent requirements, including a need for business activity of at least one year and recognizable cash flow.
Salary earners must earn at least ₦150,000 to be eligible for the lease.
A significant initial contribution is required (25% for brand-new vehicles and 27% for used cars).

Wrap Up

Rosabon Financial Services offers a comprehensive vehicle finance lease package that caters to a wide range of needs with fast processing times. However, its stringent eligibility criteria and significant initial contributions may limit accessibility for some potential borrowers.