* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, August 8, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Nasdaq-listed Verb Technology to build $558 million TON treasury, rebrand as TON Strategy Co. – The Block

    Nasdaq-Listed Verb Technology to Build $558 Million TON Treasury and Rebrand as TON Strategy Co

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Themed Entertainment Design – Purdue Polytechnic

    Innovative Themed Entertainment Design: Creating Immersive Experiences

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    Rachael Leigh Cook and Brandon Routh ‘Happy to Have Found Each Other’ Following Respective Divorces – yahoo.com

    ‘Billie Jean’ – Hyde Park Herald

    The Enduring Magic Behind ‘Billie Jean’ Revealed

    Hank Hill returns to a changed world in new ‘King of the Hill’ episodes – New Haven Register

    Hank Hill Navigates a Bold New World in Thrilling New ‘King of the Hill’ Episodes

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Exclusive | Fox Takes Stake in IndyCar Owner Penske Entertainment – The Wall Street Journal

    Go-to entertainment: why gaming was made for the toilet – The Guardian

    Why Gaming Is the Ultimate Way to Pass Time in the Bathroom

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

    BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

    Improved Technology Access: A Key to Closing the Healthcare Gap for African Americans – BIOENGINEER.ORG

    LMI Expands Technology Org, Appoints New Leaders – GovCon Wire

    LMI Expands Technology Team with Dynamic New Leadership Appointments

    Midland Innovation and Technology Charter School closing down – CBS News

    Midland Innovation and Technology Charter School Closes Permanently

    Future Trends In HR Technology – Dataconomy

    Future Trends In HR Technology – Dataconomy

    Nasdaq-listed Verb Technology to build $558 million TON treasury, rebrand as TON Strategy Co. – The Block

    Nasdaq-Listed Verb Technology to Build $558 Million TON Treasury and Rebrand as TON Strategy Co

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Technology

Surging inflation is forcing auto finance startups to rethink their financing strategies to maintain demand

March 29, 2024
in Technology
Surging inflation is forcing auto finance startups to rethink their financing strategies to maintain demand
Share on FacebookShare on Twitter

Startups that provide financing support to Nigerians planning to own a vehicle are readjusting their strategies to keep demand stable as inflation continues to rise, pushing vehicle prices higher.

Auto finance companies enable consumers to buy cars from dealers and be able to pay over a period of time. 

However, experts say shifts in vehicle pricing due to the FX crisis and market dynamics have significant implications for vehicle financing. 

Three companies that TechCabal spoke to said they are prioritising financing vehicles in areas of preference. This means measuring the demand for a particular vehicle, deciding whether the vehicle serves a commercial purpose, and assessing how affordable it is for consumers. 

“Ultimately, these changes reflect a dynamic adaptation within the vehicle financing sector to accommodate shifting market conditions and consumer preferences,” said Ojurongbe Damilola, head of technical services, Cars45.  

Max, for example, which historically financed motorcycles, bicycles, three-wheelers, and mini-buses (four-wheelers), said it has recently done more three-wheelers and motorcycles in the 11 Nigerian states where it operates. It has financed 33,000 vehicles so far. Max plans to finance 70,000 vehicles in 2024. 

For Carima, a B2B marketplace that allows dealers to make requests from other dealers for cars they don’t have in their lots, financing dealers is the better route to profitability. The company said it has financed dealers’ requests worth N400 million since January this year and has received back 100% of the loans. The platform has 3,000 registered dealers and overall access to 30,000 dealers. 

“We are financing dealers because they see cars as an asset while the normal individual sees cars as a liability. The dealer is buying a car because he wants to resell and make a profit,” Adebayo Tomiwa, CEO of Carima, told TechCabal. With 100% repayment done so far, Carima is now looking to expand the service. 

While prices of cars are on the rise, experts say the factors driving consumers towards vehicle financing include the ability to access a wide range of vehicles that financiers can now provide. Ojurongbe Damilola of Cars45, told TechCabal that this variety now allows individuals to select vehicles that meet both their preferences and financial realities. 

Another factor attracting consumers is expanded financing options due to more financing companies entering the market. This means that customers can now make their choices from a broader range of car loan providers. This also has led to more people embracing the concept of financing vehicles as they are more willing to consider vehicle loans as a viable option for buying cars due to the financial burden it takes off them. 

“This increased competition among financiers has made financing more accessible to a larger segment of the population,” Damilola said. 

However, there are concerns as to how the Central Bank of Nigeria’s Monetary Policy Committee (MPC) will affect loan interest rates, including car loans, if they continue to increase the benchmark interest rate. On March 26, 2024, the MPC hiked the benchmark interest rate by 200 basis points to 24.75%, from 22.75% recorded a month ago. Most of the financing companies often collaborate with financial institutions to access the funds they disburse as loans; an increase in base interest rate can also necessitate an adjustment in the rates offered by these companies. 

Get the best African tech newsletters in your inbox

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : TechCabal – https://techcabal.com/2024/03/28/surging-inflation-is-forcing-auto-finance-startups-to-rethink-their-financing-strategies-to-maintain-demand/

Tags: InflationSurgingtechnology
Previous Post

SA telcos are selling off their towers. Here is why

Next Post

How CAF president Patrice Motsepe could impact Canal+’s bid for MultiChoice

Trailer: Netflix Animation Welcomes Viewers to the Whimsical World of Dr. Seuss! – Animation Magazine

Trailer Unveils the Whimsical World of Dr. Seuss in Netflix Animation!

August 8, 2025
Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

August 8, 2025
SPC Health Programs Showcase: Featuring Nursing, Radiography, and Surgical Services Degrees – St. Petersburg College

Explore Exciting Career Paths in Nursing, Radiography, and Surgical Services at SPC Health Programs Showcase

August 8, 2025
Top Trump officials discussed Epstein at White House meeting Wednesday night – CNN

Top Trump officials discussed Epstein at White House meeting Wednesday night – CNN

August 8, 2025
A quilt-themed exhibit is coming to NYC’s American Folk Art Museum this fall – Time Out Worldwide

Discover the Magic of Quilts: Don’t Miss This Captivating NYC Exhibit This Fall!

August 7, 2025
Maximizing pasture potential, the science behind multi-species grazing – Beef Magazine

Unlock the Full Potential of Your Pasture with Science-Backed Multi-Species Grazing Strategies

August 7, 2025
The Council for Responsible Nutrition announces Science in Session theme and lineup – Nutritional Outlook

Council for Responsible Nutrition Reveals Thrilling Science in Session Theme and Speaker Lineup

August 7, 2025
Alibaba Upgrades Taobao Lifestyle Experience with New Cross-platform Loyalty Program – Alizila

Alibaba Upgrades Taobao Lifestyle Experience with New Cross-platform Loyalty Program – Alizila

August 7, 2025
BlackSky Technology Inc. (BKSY) Reports Q2 Loss, Lags Revenue Estimates – Yahoo Finance

BlackSky Technology Inc. Reports Q2 Loss, Misses Revenue Targets

August 7, 2025
Sports card industry leaders on what’s working and why trust needs to be improved – The New York Times

Sports card industry leaders on what’s working and why trust needs to be improved – The New York Times

August 7, 2025

Categories

Archives

August 2025
MTWTFSS
 123
45678910
11121314151617
18192021222324
25262728293031
« Jul    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (759)
  • Economy (783)
  • Entertainment (21,659)
  • General (16,341)
  • Health (9,822)
  • Lifestyle (792)
  • News (22,149)
  • People (783)
  • Politics (792)
  • Science (15,995)
  • Sports (21,279)
  • Technology (15,762)
  • World (765)

Recent News

Trailer: Netflix Animation Welcomes Viewers to the Whimsical World of Dr. Seuss! – Animation Magazine

Trailer Unveils the Whimsical World of Dr. Seuss in Netflix Animation!

August 8, 2025
Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

Spending on AI data centers is so massive that it’s taken a bigger chunk of GDP growth than shopping—and it could crash the American economy – Fortune

August 8, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version