Car Loans

Better ways of owning a car, is with us - Looking to either buy a new car or replace an old one, or upgrade but you don't quite have enough money to get your dream car? You can use our auto loans for purchases from/through Glostar Motors only.

 

What you need to apply

For Corporate / SMEs:

• Complete an Application Form and an Application Letter with reasons for the facility

• Suretyship of Guarantors

• Provide Company registration documents i.e. certificate of Incorporation, certificate to commence business, company’s regulations, Company Profile – i.e. shareholdings structure, activities/nature of business, management personnel and their background etc.

• Proof of ID etc

• Pro Forma Invoice from dealership (Glostar Motors Ltd)

• Two recent passport-size pictures

• Copy of utility bill for proof of address (or any other proof, e.g. rental agreement, etc.)

• Last 6 months bank statements

 

For Individuals:

• Must be in employment for at least 12 months continuous

• Proof of regular source of income (Last 3 Pay slips)

• Letter of Undertaking from employer

• Photocopy of passport/driving license/ Voter’s ID/ National ID card

• Two recent colour passport-size pictures

• Copy of utility bill for proof of address (or any other proof, e.g. rental agreement, etc.)

• Pro Forma Invoice from dealership (Glostar Motors Ltd)

 

Why Our Car Loans

• Facility available in US dollars and cedis

• Minimum loan amount of $2,000 or cedi equivalent

• Up to $100,000 or cedi equivalent

• Loan term ranges from 6 to 72 months (term of more than 60 months only for select vehicle models/brands)

• Up to 2% per month interest rate

• Quick, hassle-free application process

• Our secure, online application takes just a few minutes to complete

• Can be used to buy used or new vehicles

• We are backed by The DCANS Group, a group that has over 40 companies/businesses under it.

 

Insurance

On approval of your loan, you will need to take out comprehensive insurance cover on the asset.

 

How to apply

Kindly complete an online application form here.


 

Other Auto Loan Products

Taxi 'Work & Pay'

Trotro 'Work & Pay'

Van / Bus Loans

Spare Parts Loans

Useful info

Sikamaster, is a 24/7*365 well-capitalised internet first, forward-thinking, safe, robust, resilient, smart and responsible direct lender for the working class and modern and/or scalable small, medium & large businesses, including startups.

SML is not; a microfinance institution, and neither a savings & loans company or a Specialised Deposit-taking Institution (SDI) of any form, kind or type. SML does not seek and/or accept outside capital.

Rolling out a secured, safer, convenient, revolutionary self-care, ethical, no upfront fee, direct lending platform in phases (three phases remaining, including key synergistic acquisitions and regulation for some aspects of our operations).

We're Social

             

Ghana's 24/7 Direct Financing Hub

Not all our loans require a collateral - But if your loan requires one, any property used as security (which may include your home or pensions and/or business assets, or personal guarantees) may be repossessed if you do not keep up repayments on a loan or any other debts secured on it. Our Repayment Assistance Programme is available to qualified borrowers only.
 
PLEASE READ TERMS & CONDITIONS, COOKIES POLICY, PRIVACY POLICY, DATA RETENTION POLICY, & MODERN SLAVERY POLICY BEFORE USING THIS WEBSITE OR OUR SERVICE.
 
Applicants must be 18 or over. All loans are subject to affordability, applicant verification, traditional credit checks and TDG Scoring via various national databases in accordance with Sikamaster''s responsible lending policy.
 
Please note that there have been an increasing number of attempts to defraud Sikamaster clients. Please take every necessary measure to ensure that your account information is secure! Learn more.
 
Aside lending, our website offers information about saving, investing, tax and other financial matters, but not personal advice. If you're not sure whether Sikamaster Loans lending is right for you, please seek independent financial advice, and if you decide to borrow from us, please read our How We Operate before you proceed.