Coscharis collaborates with Stanbic IBTC, Access Bank on vehicle financing
For Nigerians who have the lofty aspiration to purchase a choice car of their own dreams, their desire can now be accomplished as Coscharis Motors, a leading brand in car sales recently signed a Memorandum of Understanding (MoU) with leading financial brands, Stanbic IBTC Plc and Access Bank Plc to allow affordable and easy purchase of vehicles in order to make their esteemed customers dream a reality.
The MoU which was signed on Friday in Lagos will see customers and intending car buyers select any vehicle of their choice from any Coscharis showroom nationwide and make a minimum down payment of 10 per cent to any of the banks collaborating in this scheme and spread the balance for up to 48 months.
Speaking at the signing ceremony, the Deputy Group Managing director, Coscharis Group, Okey Nwuke said, “The interest rate offered is so low that no blue-chip company in Nigeria can borrow money at the rate this scheme is offering to consumers.
“Coscharis has thrown in additional discount that will ensure that all rates to customers will be sixteen (16) and half per cent. This deal is not just new, but offers a lot of value to customers. We decided to make available to customers to pay monthly instalment over tenure of up to four years with equity contribution of as low as 10 percent.”
Also speaking at the event, ObinnaAbajue, Executive Director, Personal and Business Banking, Stanbic IBTC said, It gives us great pleasure to partner with Coscharisand with our colleagues to support this project. When we were first engaged on this, we thought it to be a real opportunity to join hands to develop this country and to give value to our customers.
“As a member of Standard Bank Group, we believe strongly in development of our continent and in the empowerment of customers, and that is a big focus for us at Stanbic IBTC Bank. We are pleased to participate together with Access Bank and Coscharis on this project and we thank you for your participation in advance.”
Similarly, the Executive Director, Personal banking, Access Bank, Victor Etuokwu who also made remarks at the event said, “Access Bank likes to be associated with brands that are known for quality and credibility and therefore being a part of this scheme is something that it is very proud about.”
Etuokwu also said that “We are proud to be in this occasion to start something that should transform the vehicle finance space in Nigeria. The scheme is for one whole year long and even longer, so people can plan very well and take advantage of this scheme.”
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