Fair-Exit
The equity you build stays yours.
If your contract ends before you own the keke, even if the keke is recovered, you don't lose what you've paid towards it. You keep the principal you've paid, less what you owe and a few set deductions.
How your refund is worked out
Refund = Principal paid − Arrears − Usage charge − Recovery cost − Excess damage
Worked example: recovered after 28 weeks
Sample figures- Principal paid (including deposit)
- ₦1,906,000
- Arrears
- − ₦67,000
- Usage charge (₦1,500 for each day you had the keke)
- − ₦294,000
- Recovery cost
- − ₦40,000
- Excess damage
- − ₦0
- Refund to the rider
- ₦1,505,000
Sample figures for illustration. Real terms are set per offer.
What each part means
- Principal paid
- The part of your payments that goes towards the keke's price, including your whole deposit.
- Arrears
- Payments that were due and not made.
- Usage charge
- A charge for the time you used the keke: in our sample terms, ₦1,500 for each day you had the keke. The exact rate is written in your contract before you sign.
- Recovery cost
- The cost of recovering the keke, if that was needed.
- Excess damage
- Damage beyond normal wear, assessed by a mechanic. Damage of ₦50,000 or more needs a second mechanic to sign off.
How it's paid
- We show you the calculation: every figure, where it came from and the evidence behind it.
- You have 7 calendar days to dispute it before anything is paid.
- Our operations team reviews the settlement, and two administrators must approve the payout.
- Your refund is paid only to a verified bank account in your own name.
Your contract sets out the full Fair-Exit terms. It's explained to you in Igbo, Pidgin or English before you sign.