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With unemployment rates at about 33% and inflation figures at almost 20%, Nigerians continue to pursue alternative ways to earn and increase income. Joining ride-hailing platforms as driver-partners has been one of the reliable ways to earn money in Nigeria even though the cost of owning and maintaining a car is high. Many e-hailing drivers get cars through hire-purchase agreements that often require them to pay a significant amount a week, amidst the expense of vehicle maintenance. This outrageous condition requires some drivers to work extra hours to meet up the weekly payments.
Recently, Bolt launched a Vehicle financing scheme to enable drivers to own a car with as low as a 15% equity repayment plan. This was initiated to make life easier for drivers, increase employment rates and subsequently improve the economy. With the Bolt Vehicle financing scheme, drivers can get a car for as low as ₦15,000 weekly instalments, in addition to comprehensive insurance and vehicle tracking support.
The Vehicle financing scheme is the first of its kind in Nigeria and will help drivers maintain flexible work hours while increasing their income. For the initial period, the programme will be available to existing Bolt drivers who have reached specified benchmarks. Also, equity and repayment amounts will depend on the driver’s creditworthiness. The scheme has been made possible through Bolt’s driver verification process and was initiated in partnership with AltDrive, powered by Sterling Alternative Finance, to improve drivers’ earnings.
Why is this important?
The Vehicle Financing programme will help ride-hailing drivers solve the hire-purchase challenge. The Bolt scheme also serves as a more affordable journey to car ownership for the drivers. It is also a positive drive for the Nigerian economy by boosting average Nigerians’ daily savings and income who have taken to e-hailing to earn income.
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What else is Bolt doing?
Bolt continues to fulfil its commitment to its drivers and the public’s overall social and economic welfare. The platform has recently improved safety measures on its platform with its new Voice over Internet Protocol (VoIP) feature. The in-app calling feature enables riders and drivers, utilise line regular phone services over the internet, eliminating the cost of regular phone calls. In addition, the VoIP feature adds an extra layer of safety and privacy in communication, ensuring that riders engage with drivers without disclosing contact information.
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Hi,
This is good news, I am a Bolt driver, I need a car for hire purchase, how do i go about it?
Thanks.
Good News, I am a Bolt Driver I heard about it last week and I filled the form on internet since then there is no any reply. I need hire Purchase Car to drive on Bolt platform. How can I get it with this Bolt’s Vehicle Finance Scheme partner with Sterling Bank.
Some of u are glamoring for cars now u will not sit down and think that if I collect this car for 15thousand naira weekly how many years am I going to finish the payment moreover u don’t know the type of cars and the amount they want to place on the car.u will not think about the maintainance .Pls do your calculation before any move.
Idiot
What has he said that you called him idiot. Isn’t that a good advice? You are the idiot.
Hello. How can I join bolt drivers. I am looking for driving job. With wealth of experience.
You get sense bro
I need a car for hire purchase, will be glad if am honored
Chat me on 08029023805
Pls I need a car for hire purchase pls I need a car of above 2,000,000 or 2.5,000,000
This is a good move to reduce unemployment in the country. Hope sincerity in the part of drives, they can achieve their target in life
I have interest in the car loan scheme
I am a bolt driver and am interested on this scheme, my email address: [email protected]. phone number:9031779836
Good morning, my name is oluwatosin and I am a bolt driver , please I need car for hire purchase and this is my mobile number 08079640519. Thanks.
I need a car on hire purchase,this is my number 07061788373
Need a car from the scheme
I’m a bolt driver am at home since 3 month ago now just because of my previous car is not good again bolt inspection rejected the car since then i don’t have any car to drive again many of this partner make life difficult for us asking for down payment 300k 200k before giving you a car as i don’t have money I’m still trying my best to see help but if bolt can make this possible things is going to better for drivers many of all this partner turn their self to God I’m an old driver on bolt 08035287601 thanks
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