Foremost automobile company, Coscharis Motors Ltd, Stanbic IBTC Bank, a member of Stanbic IBTC Holdings Plc, and Access Bank have officially launched a collaboration establishing an auto finance scheme with value-added features for customers.
Under the Coscharis Vehicle Finance Scheme, Stanbic IBTC Bank and Access Bank will provide credit facilities for the acquisition of cars by Coscharis customers on concessionary terms, including a competitive interest rate, flexible repayment period, simple documentation, quick and fast approvals, and 90 percent finance on the value of the vehicle.
At the MOU signing ceremony in Lagos on Friday, April 17, 2015, Executive Director, Personal and Business Banking, Stanbic IBTC Bank, Obinnia Abajue, said the partnership demonstrates the organization’s commitment to economic empowerment through strategic interventions that enable individuals and businesses achieve their goals.
“This partnership is unique in being the first time two financial institutions will be partnering with a leading automobile company, Coscharis Motors, to empower people by making the acquisition of new vehicles of choice stress-free. A dedicated team of experienced professionals from our Vehicle and Asset Finance unit is available round the clock to deliver to Coscharis Motors and its customer’s excellent service and professional advice, in line with the terms of the partnership,” said Abajue.
The question what is the percentage of the masses can afford a new car??? Less than 10% answer