If you ride on daily delivery, you already know your number. ₦15,000 goes to the owner every day, good day or bad day. Most riders never multiply that number out. Let's do it together, then put it next to hire purchase.
What daily delivery really costs you
Start with the rate many riders in Abeokuta pay: ₦15,000 a day. Seven days a week, that is ₦105,000. Keep going and the number gets serious fast.
| Time on daily delivery | The sum | Total paid | You own |
|---|---|---|---|
| 1 week | ₦15,000 × 7 | ₦105,000 | Nothing |
| 1 year | ₦15,000 × 365 | ₦5,475,000 | Nothing |
| 78 weeks (1½ years) | ₦15,000 × 546 | ₦8,190,000 | Nothing |
Do you rest on Sundays? Take one day in seven off those totals. The last column still doesn't change. After 78 weeks and more than ₦8 million, the keke goes back to its owner and you start again from zero.
The same keke on hire purchase
Hire purchase works differently. You pay a deposit, sign an agreement and drive the keke home the same day. After that you pay a fixed amount once a week, not every day. When the last weekly payment clears, the keke is yours.
Worked example · September 2026
- Deposit: ₦400,000, paid once on signing day.
- Hire purchase price: about ₦6,800,000 on our 1½-year plan (1 year 6 months). That is everything you pay from signing day to ownership, deposit included.
- Balance you pay weekly: ₦6,800,000 − ₦400,000 = ₦6,400,000.
- Weekly payment: ₦6,400,000 ÷ 78 weeks = ₦82,052.
| 1½-year plan | |
|---|---|
| Hire purchase price | ₦6,800,000 |
| Deposit, paid on signing day | ₦400,000 |
| Balance you pay weekly | ₦6,400,000 |
| Number of weeks | 78 |
| Weekly payment | ₦82,052 |
| What you own at the end | The keke |
Weekly payments are rounded up to the nearest naira, so the real total is a few naira more than shown.
Put them side by side
Same 78 weeks
One road ends with a keke. The other doesn't end.
Daily delivery
- Every day
- ₦15,000
- × days in 78 weeks
- × 546
- Deposit
- None
Hire purchase
- Every week
- ₦82,052
- × weeks
- × 78
- Deposit, paid once
- + ₦400,000
Look at it per day and it is even clearer.
What each day costs you
Hire purchase costs less per day, and it stops
What happens after the last payment
This is where the two roads split for good. On delivery, week 79 costs the same as week 1. On the 1½-year plan, week 79 costs nothing. The keke is yours, and everything it earns is yours.
Total paid, week by week
By week 18, delivery has cost you more than hire purchase
See the numbers as a table
| Week | Daily delivery | 1½-year plan |
|---|---|---|
| 0 | ₦0 | ₦400,000 |
| 13 | ₦1,365,000 | ₦1,466,667 |
| 18 | ₦1,890,000 | ₦1,876,923 |
| 26 | ₦2,730,000 | ₦2,533,333 |
| 39 | ₦4,095,000 | ₦3,600,000 |
| 52 | ₦5,460,000 | ₦4,666,667 |
| 65 | ₦6,825,000 | ₦5,733,333 |
| 78 | ₦8,190,000 | ₦6,800,000 |
Even with the deposit paid up front, delivery catches up with hire purchase in week 18. From then on, every week on delivery puts you further behind. By week 78, a rider on delivery has paid ₦8,190,000 and owns nothing. A rider on the 1½-year plan has paid ₦6,800,000, and the keke is theirs.
What the numbers don't show
We would rather tell you this now than have you find out later.
- The weekly payment is bigger than a day's delivery. ₦82,052 has to be ready once a week, where delivery takes ₦15,000 every day. Put a little aside each day so payment day is never a surprise. See how hire purchase works, step by step.
- Running costs are yours. Fuel, repairs and servicing are on you. Ask your delivery owner what they cover today, and compare honestly.
- The weekly payment is due every week. Good week or bad week, the same as delivery. If a week is going wrong, call the office early. Your agreement says what happens next.
Work out your own numbers in 3 minutes
- Take what you pay on delivery each day and multiply it by 7. That is your weekly cost today.
- Open the hire purchase calculator, or ask the office for today's weekly payment.
- Put the two weekly figures next to each other. Then remember which one ends.
Bring your numbers to the office
We'll go through the hire purchase price, the deposit and the weekly payment with you before you sign anything.
Figures are a worked example as at September 2026. The ₦15,000 daily delivery rate is an example; use your own. Your hire purchase price, deposit, weekly payment and number of weeks are set out in your hire purchase agreement. Oluwapoju LTD, RC 9099282.
