Consumers can now actualise their dream ownership of a desired vehicle as Access Bank plc, Stanbic IBTC plc, and Coscharis Motors on Friday, signed a memorandum of understanding for affordable, easy and convenient vehicle purchase finance.
The scheme allows a customer to walk into any Coscharis showroom nationwide, select any car or vehicle of choice, make minimum 10 percent down payment to any of the partnering banks and spread the balance for up to 48 months.
Speaking at the signing ceremony, Obinnia Abajue, executive director, personal and business banking, Stanbic IBTC, said: “It gives us great pleasure to partner with Coscharis and 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 very 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 please to participate together with Access Bank and Coscharis on this project and we thank you for your participation in advance.”
Victor Etuokwu, executive director, personal banking, Access Bank, who spoke at the ceremony, described the relationship between Access Bank and Coscharis as long tasted, saying “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.”
According to him, the bank’s interest is to empower Nigerians economically, to help them to live their dreams.
Okey Nwuke, deputy group managing director, Coscharis Group, said “the interest rate that is 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 rate to customers will be 16 and half percent. This deal is not just being new, but offers a lot value to customers. We decided to make available to customers to pay monthly instalment over a tenure of up to four years with equity contribution of as low as 10 percent.”
According to Etuokwu, “in the past six months Access Bank has been running a campaign called ‘Take Tomorrow;’ the logic is that people do not have to wait and be dreaming for whatever happens tomorrow. It is in your hands to create your tomorrow. The bank is ready to work with you to create your tomorrow. In other words, what you aspire for, take the right steps working with a bank like Access Bank you will achieve it even today.
“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.
“This collaboration serves to consolidate and strengthen two powerful brands working together to serve Nigerian consumer. Consumers should take advantage of this opportunity. You can buy any car of your choice within the reach range of Coscharis Group.”
“The key offerings that are different is that we have three strong partners in this scheme, which is not a promo, not a one month thing but run through a year. Secondly, at Stanbic IBTC we can assure you that this is not a one-off activity. This is part of what we do everyday. This is what we do everyday and this is part of our own contribution to ensuring that people are able to raise their quality of living and people are able to achieve their goals.
“So, no longer do people need to wait endlessly to get the things they want. We are committed as a bank to supporting them to raise the standard of living, to raise the quality of their aspirations to achieve their dream in their businesses and in their personal endavours,” Abajue said.
HOPE MOSES-ASHIKE
