Piggyvest and Mikano Motors Launch Car Financing Scheme

Piggyvest, an online savings and investment platform, and Mikano Motors have introduced a savings and financing scheme aimed at helping Nigerians purchase brand new cars starting at N20 million. This initiative was announced this week and includes a N2 million cashback offer for customers who save and take delivery of their vehicles within the next year.

Users of the Piggyvest app can choose their preferred Mikano Motors vehicle and savings plan, and upon reaching their savings goal, Mikano Motors will process and deliver the cars. Mr. Joshua Chibueze, Co-founder and Chief Marketing Officer of Piggyvest, stated that the partnership arose from a trend indicating many Nigerians cannot afford to buy new cars outright.

Mr. Syam Abdulkadir, National Operations Manager at Mikano Motors, emphasized the company's commitment to making new vehicles more accessible, while Mr. Mbonu Chijioke, Head of Sales at Mikano, expressed satisfaction in supporting initiatives that facilitate vehicle ownership. The vehicles come with a six-year or 200,000km warranty and after-sales services.