FCMB, PAN in auto ac­qui­si­tion part­ner­ship

Daily Trust - - BUSINESS - By Chris Agabi

First City Mon­u­ment Bank Lim­ited (FCMB) Lim­ited and Peugeot Au­to­mo­bile Nige­ria (PAN) have launched an auto fi­nance and ac­qui­si­tion scheme that will see cus­tomers ac­quire brand new cars at friendly rates.

The de­vel­op­ment is part of ef­forts of the bank to help in­di­vid­u­als, (in­clud­ing the self-em­ployed), em­ploy­ees of or­gan­i­sa­tions, cor­po­rate bod­ies and in­sti­tu­tions within the pub­lic and pri­vate sec­tors be­come car own­ers in a con­ve­nient man­ner.

Un­der the scheme, which was un­veiled in Abuja, qual­i­fied cus­tomers of the FCMB would be able to own a brand new Peugeot car for as low as N80,367.68 un­der a monthly re­pay­ment plan up to five years.

The new gen­er­a­tion Peugeot brands on of­fer in the scheme, with var­ied monthly in­stal­ment pay­ments, are the 301 range (Ac­cess, Ac­tive, Allure PRS, LXP); the 308 mod­els (Allure Ex­ec­u­tive and Allure PRS); 3008 (Ac­tive and Ac­tive LXP); 4008 and 508 (Ac­tive and Ac­cess).

Speak­ing at the launch of the al­liance in Abuja last Thurs­day, the Re­gional Di­rec­tor, Abuja and North of the FCMB, Mr. Luk­man Mustapha, said that the part­ner­ship is a value-added con­sumer loan of­fer aimed at ex­pand­ing the scope of ve­hi­cle own­er­ship in the coun­try.

“We have de­signed this scheme to en­hance the life­style of our ex­ist­ing and po­ten­tial cus­tomers through dis­counted pric­ing, flex­i­ble re­pay­ment and other ben­e­fits as­so­ci­ated with it,” Mustapha ex­plained.

He stated that as an in­clu­sive lender with a strong re­tail fran­chise, the FCMB is com­mit­ted to cre­at­ing op­por­tu­ni­ties for not only its cus­tomers, but all seg­ments of the so­ci­ety.

Also, FCMB’s Di­vi­sional Head, Re­tail Bank­ing, Mr. Olu Akanmu, ex­plained that apart from the flex­i­ble and con­ve­nient re­pay­ment plans, the scheme of­fers many more ben­e­fits. Among th­ese are free ve­hi­cle reg­is­tra­tion and track­ing, three-year ex­tended ve­hi­cle main­te­nance ser­vice, dis­counted in­sur­ance premium and dis­counted in­ter­est rate.

Mr. Akanmu as­sured that through­out the pe­riod of this scheme, cus­tomers who sign on will not have to worry about re­leas­ing bulk cash to ac­quire a brand new Peugeot ve­hi­cle.

Man­ag­ing Di­rec­tor/Chief Ex­ec­u­tive of Peugeot Au­to­mo­bile Nige­ria (PAN), Mr. Ibrahim Boyi, said that the auto maker is ex­cited to part­ner FCMB to make the ac­qui­si­tion of ve­hi­cles eas­ier for Nige­ri­ans. “This is a part­ner­ship be­tween two no­table and vi­able brands. The auto fi­nance scheme of­fers new evo­lu­tions of Peugeot cars that are durable, pro­vide safety, com­fort­able and fully adapted to Africa’s cli­mate”, he stated.

Mr. Boyi was op­ti­mistic that many Nige­ri­ans would take ad­van­tage of this op­por­tu­nity to be­come car own­ers.

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