FCMB, PAN in auto acquisition partnership
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.