Terms and Conditions

For Buyers

  1. That by clicking on the buyers page, you are designating yourself as a ''Buyer'' and Pay Monthly Cars shall provide her services to you in the purchase of a Vehicle.
  2. The buyer shall provide all necessary personal details, budget plan, account details and any other information required to the Pay Monthly Cars for the purpose of verification.
  3. A background check will be done on you to ascertain the credibility of your character and the given information.
  4. That the conditions of payment shall be payment by way of instalments with an upfront payment while the remaining sum shall be spread for the agreed number of months.
  5. At the first payment by buyer, the seller shall transfer the car to the buyer.
  6. All payments for the vehicle shall be non-refundable.
  7. At the payment of the last instalment the ownership of the vehicle shall pass to the Buyer and the Seller shall be under obligation to effect the change of ownership and Pay Monthly Cars shall handover the original documents of the car to the Buyer.
  8. There shall be a tracker affixed to the vehicle to cover for any unnecessary loss until the final payment of the agreed sum.
  9. The buyer shall provide a surety.
  10. Where the buyer defaults in payment that the following shall apply.
    terms table
  11. Where the Buyer decides to opt out of this agreement that the car shall be retrieved and all payment made shall be non-refundable. A contingency fee depending on the damage done to the car shall be charged.
  12. A vetting fee of Thirty-Five Thousand Naira only (N 35,000.00) for employed person and Fifty Thousand Naira only (N 50,000.00) for self employed/ business persons shall be charged.
  13. The vetting fee shall be for the verification exercise that may include the following:
  • Personal residence verification
  • Account statement verification
  • Place of work/business verification tailor made search for vehicle of choice at client’s price point

For Sellers

  1. The Seller hereby warrants his good title and standing to the said vehicle free from any encumbrance and further warrants his authority to sell the said Car to the Seller.
  2. That the Seller warrants that his car is in good condition at time of sale and it shall be held liable against the seller if he fails to disclose to Paymonthlycars any information about the car that may be necessary for the smooth sale and purchase of the said car.
  3. The Seller shall hand over to the Paymonthlycars the original of all relevant documents including the insurance certificate, vehicle license, certificate of road worthiness and any other relevant document upon request by Paymonthlycars.
  4. The conditions of payment shall be payment by way of instalments with an upfront payment while the remaining sum shall be spread for the agreed number of months.
  5. That at the first payment by the Buyer via Paymonthlycars, the Seller shall transfer the car to the Buyer.
  6. All payments for the vehicle shall be non-refundable.
  7. That in consideration of the entire agreed sum only payable by the Buyer through Pay Monthly Cars to the Seller, the ownership of the said car shall change over from the Seller to the Buyer.
  8. That there shall be an account for the updating of payments made to the Seller for the purpose of accountability.
  9. That the Seller shall authorize Paymonthlycars through a Letter of Authorization to insure his car against any unforeseen contingencies.
  10. That where the Seller decide to opt out of this agreement, his original documents shall be withheld by Paymonthlycars until he refunds the exact amount that has been paid to him by the Buyer through Paymonthlycars and also made to pay a 15% default charge of the money paid into his account to Paymonthlycars.
  11. That upon the payment of the last instalment the ownership of the said car shall automatically pass to the Buyer and the Seller shall be under obligation to effect change of ownership and Paymonthlycars shall handover all the original documents of the car.