Autocheck Launches Autocheck Financial Services To Provide Auto-Financing In Africa

Vehicle sourcing and sales company Autocheck has announced the launch of its vehicle financing arm, AutoCheck Financial Services, in a bid to provide its customers access to car loans, which will make it possible for them to be able to get cars of their choice at a very flexible payment rate. 

The initiative the company says will make it possible for individuals to buy any car of their choice and receive it upfront without full payment.

This is in response to the financial incapability and hardship ravaging the land which has deprived many Nigerians, and the totality of Africa the reality of owning their own cars.  

The development which has made many who cannot afford to get a new car because of the high cost of purchase resulted in imported used cars, also known as “Tokunbo” , or Nigerian used car, also know as “second-hand”. 

“It [Autochek Financial Services] will also provide best-in-class technology and advisory solutions to car dealers, financial institutions and other stakeholders in Africa’s automotive ecosystem, supporting them to improve credit decisioning, collections, pricing, portfolio management and product development, as well as deliver an enhanced customer experience,” Autochek’s statement read.

While the company has presence in East, West, and North Africa, it has its headquarters in Johannesburg, South Africa. Autochek Financial Services will be led by Van der Merwe, a financial services veteran with more than 20 years’ experience in risk, credit, and asset finance. 

Johan had previously worked  as the Chief Risk Officer at WesBank Motor (one of South Africa’s leading vehicle and asset finance providers) and SA Taxi (a vertically integrated company that provides financing, insurance and other services for the minibus taxi industry in South Africa), before becoming the company’s CEO. 

According to the Group CEO, and co-founder of Autocheck, “Johan brings a wealth of experience to Autochek Financial Services and we are excited to have him on board as we build the infrastructure to transform automotive commerce across Africa. We want to empower more Africans with seamless access to vehicle financing, and we are looking forward to delivering more solutions to bridge the affordability gap and make it easier for more Africans to purchase the vehicles they want.”

While speaking on his new role, Johan started and outlined his willingness to work with the team in bringing about the desired growth and success of automotive sector in Africa.

According to the new CEO of AutoCheck Financial Services, Johan van der Merwe, “there is a great opportunity to drive shared value for consumers, manufacturers, financial institutions, and other stakeholders by unlocking financing, and I strongly believe that we can build the infrastructure to make this happen. Etop and the team have done a lot of outstanding work to deliver the success Autochek has seen to date and I am looking forward to working with them to deliver more success and more growth across the continent’s automotive sector,” he said.