Finance

Important: Extra Mile Auto Marketplace does not provide loans or financing directly. We connect you with trusted partner banks and guide you on how auto financing works in Ghana, so you can walk into any bank fully prepared.

How auto loans work in Ghana

1

Choose your vehicle first

Find the car you want on Extra Mile. Get the seller’s price and vehicle details, as banks will ask for these.

2

Check your eligibility

Most banks require a minimum salary, employment proof, and 6 months of bank statements before approving an auto loan.

3

Pay the down payment

Banks in Ghana typically require 20–30% of the vehicle price as a down payment upfront before financing the rest.

4

Apply to a partner bank

Visit any of our partner banks below with your documents. They assess your income and decide on the loan amount and term.

5

Loan is disbursed

On approval, the bank pays the seller directly or releases funds to you. The car may be held as collateral until the loan is repaid.

6

Repay in monthly instalments

Repay over an agreed term, typically 12 to 48 months, with interest applied to the outstanding loan balance each month.

Typical loan requirements

Down payment

20% – 30% of vehicle price

Loan term

12 – 48 months

Interest rate

18% – 35% per annum

Employment proof

Payslips or business registration

Bank statements

Last 3 – 6 months required

Valid ID

Ghana Card, passport, or driver’s licence

Our partner banks in Ghana

Ecobank Ghana

Commercial bank · Pan-African network

2 Ambassadorial Enclave, Ridge, Accra, Ghana

+233 302 681 160 / 0800 700 0101 (toll-free)

ecobank.com/ghana

Mon – Fri: 8:00am – 5:00pm

Auto loan available

Absa Bank Ghana

Formerly Barclays Bank Ghana

Barclays House, High Street, Accra Central, Accra, Ghana

+233 302 213 380 / 0302 429 150

absa.com.gh

Mon – Fri: 8:30am – 4:30pm

Auto loan available

UBA Ghana

United Bank for Africa · Pan-African

UBA House, 57 Examination Loop, Accra Central, Accra, Ghana

+233 302 670 600 / 0800 225 000 (toll-free)

ubagroup.com/gh

Mon – Fri: 8:00am – 4:00pm

Auto loan available

ASA Savings & Loans

Savings & loans company · Ghana

ASA House, Dzorwulu, Accra, Ghana

+233 302 912 710 / +233 302 912 711

asaghana.com

Mon – Fri: 8:00am – 5:00pm · Sat: 9:00am – 1:00pm

Vehicle & personal loans

First Banks Ghana Ltd

Commercial bank · Ghana

First Banks Building, Liberation Road, Airport City, Accra, Ghana

+233 302 742 020 / +233 302 742 021

firstbanksghana.com

Mon – Fri: 8:00am – 4:30pm

Auto & asset financing

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Tips before you apply

  • Save your down payment before approaching any bank. Most Ghana banks will not begin an auto loan application without proof you can cover 20–30% of the vehicle cost upfront.
  • Bring the vehicle listing or proforma invoice when you visit the bank. Lenders want to know exactly what car you're buying, who the seller is, and the agreed price.
  • Consider a guarantor. If your salary or credit history is thin, many Ghanaian banks will approve a loan more readily if a creditworthy individual co-signs your application.
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