Carlots.ng rolls out new features to improve transparency

Integrated automotive e-commerce platform Carlots.ng has expanded its service offerings to address persistent transparency and affordability concerns in Nigeria’s used-car market, the operator said on Thursday.

The platform, which aggregates inventory from hundreds of dealerships nationwide, said the upgrade is aimed at resolving key issues such as opaque pricing, lack of reliable vehicle history, and limited financing options for buyers.

Speaking on the rollout, Chief Executive Officer Ikwu Onyeka said the company is positioning itself as Nigeria’s most trusted destination for used cars.

“The average Nigerian buyer is saving for years. Their biggest fear is spending those savings on a vehicle that develops major faults a week later,” Onyeka said in a statement. “We are leveraging technology to bring transparency and security to the market.”

Carlots.ng now allows users to browse a wide inventory of certified ‘Tokunbo’ and Nigerian-used vehicles, compare prices across sellers, and access detailed vehicle history through tools such as its Car Price Checker and VIN Checker.

A major component of the update is the integration of flexible financing options through partner institutions, enabling consumers to view payment plans and spread the cost of purchases. Onyeka said the move targets affordability barriers that often limit car ownership.

“We are in this market to address long-term concerns for car buyers in Nigeria,” he said. “Therefore, our biggest objective is to ensure Nigerians no longer have to struggle with inflated prices or hidden faults. Our key proposition is to deliver value at a fair, transparent price.”

The company said it will continue adding more technology-driven features as competition intensifies in the country’s online automotive marketplace.

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