Primary Pledge Facility Terms Notice
Terms and conditions apply. This is a vehicle pledge facility: your vehicle remains securely stored with ALHERI LENDING COMPANY LTD for the duration of the loan and is released upon full repayment of principal and agreed charges. Late repayment may attract additional fees — please read your loan agreement carefully.
1. Vehicle Collateral & Storage Facility
1.1. ALHERI LENDING COMPANY LTD provides short-term cash loans against pledged vehicle collateral. Upon signing the loan contract, the borrower surrenders the vehicle to ALHERI LENDING COMPANY LTD secure garage facility located in Nigeria.
1.2. The vehicle shall remain in the custody and possession of ALHERI LENDING COMPANY LTD until all outstanding principal, agreed interest fees, and garage storage charges are settled in full.
2. Loan Facility Valuation & Amount
2.1. The approved loan amount ranges between 30% to 70% of the assessed current market value of the vehicle, determined solely by ALHERI LENDING COMPANY LTD appraisal team.
2.2. Standard loan tenure is up to a maximum period of 3 months (90 days).
3. Repayment & Vehicle Release
3.1. Upon full settlement of all obligations on or before the due date, ALHERI LENDING COMPANY LTD shall immediately release the pledged vehicle along with all original documents to the verified owner.
4. Late Repayments & Fees
4.1. Failure to settle the loan on or before the agreed maturity date will attract additional default interest and vehicle garage storage fees.
4.2. Borrowers are strictly advised to review their signed loan contract for specific default schedules and terms.
5. Contact & Inquiries
If you have any questions regarding these terms, please contact us at our physical office address or via WhatsApp.