Every day, Autochek receives over 13,000 visits on its marketplace from people searching for their dream or next car in Nigeria. While a majority of Africans desire to own a car, the reality is that affordability beats their desire. One common feature that unites Africans in search of luxurious vehicles and those who desire mobility for their everyday commute or business development is the quick and enhanced ownership experienced beyond the purchase.
Africa’s automotive industry, including Nigeria, faces unique challenges: underestimated ownership experiences, limited financing options, insufficient infrastructure, and sustainability issues. As consumers become more discerning about the quality and experience they deserve, even for used cars, a revolutionary shift is on the horizon.
With this awakening, the continent is heading towards a revolutionary path to ease car ownership and the overall ownership experience. Autochek, the leading automotive technology company in Africa, is at the forefront of this transformation. By leveraging innovative digital solutions and data analytics, Autochek is making car ownership more accessible, affordable, and convenient for Africans.
Autochek has built a financial infrastructure to drive the penetration of auto financing across Africa, powered by a data analytics engine that makes it easier for financial institutions to offer car credit to consumers in Africa. Since launching in 2020, Autochek has built a base of data on portfolio performance, residual value of vehicles, capital recovery, and other data points that make it easier for commercial banks and other financial institutions to offer credit to consumers and businesses to purchase the vehicles they want.
Through a robust collection of cars available on the Autochek website, valuable data are obtained from market trends, consumer behavior, pricing dynamics, and financing patterns. This data is harnessed to provide precise pricing for vehicles, streamlining the purchasing process and ensuring fair market value for customers.
With data-driven pricing and negotiating prowess, Autochek constantly secures favorable deals with vehicle dealers, top financial institutions, and insurance and maintenance companies, ultimately passing the benefits to customers which is, reduced car ownership costs in addition to other value-added services such as warranties, comprehensive insurance, and annual maintenance plans on every financed vehicle. This ensures customers enjoy peace of mind and a superior motoring experience long after their purchase.
Leveraging data analytics, Autochek is at the forefront of optimizations to bring about impactful innovations in the automotive industry and the economy, while creating a mutually beneficial scenario for both customers and stakeholders, increasing access to affordable and convenient car ownership for Africans. This data-driven approach laced with extraordinary value in service distinguishes Autochek as a pioneer in the African automotive industry.
What can car buyers in Nigeria expect? Consumers can expect an improved car financing proposition, swift installment simulations, quick loan application and a speedy approval process. Autochek is taking automotive experience beyond buying and driving off the lot.
