Heritage Bank, GAC Motors Unveil New Vehicle Finance Scheme

By Dipo Olowookere

A strategic partnership has been entered into between Heritage Bank Plc and the Choice International Group (CIG) Motors Limited to introduce a new vehicle finance scheme aimed at assisting interested and pre-qualified customers to buy brand new GAC Vehicles with ease and at affordable prices.

The initiative is tagged ‘Go CAR-razy’ and  was facilitated by the sole representative of GAC Motors in Nigeria known as CIG, which enables individuals who meet the prescribed conditions to pay an equity contribution of 10 percent with 48 months tenor repayment.

The scheme is largely for three models of cars and sport utility vehicles in the stable of GAC Motors: GS3, GS4 and GS8.

Speaking on the signing of a Memorandum of Understanding, MD/CEO of Heritage Bank, Mr Ifie Sekibo, said the auto finance scheme was tailored to suit customers’ needs with manageable monthly repayments and is best suited for individuals, organizations, corporate bodies and institutions to avail a convenient and easy access to finance options making it easier to buy and drive away a brand new GAC Motors.

According to him, the partnership was planned to encourage customers to buy environmentally-friendly GAC vehicles instead of used cars otherwise known as “tokunbo.”

Mr Sekibo specifically explained that the reason for the alliance was to afford deserving customers with the ease of convenient and discounted opportunities with just 10 percent equity contribution, as against the 30 percent standard equity contribution required to own brand new GAC vehicles.

He listed other benefits of the vehicle finance scheme, which involve competitive interest rate, discounted vehicle pricing, subsidized insurance premium, free vehicle registration.

Chairman of CIG, Ms Diana Chan, stressed that the automobile firm entered into partnership with the Heritage Bank because of its track record in quality service.

According to her, “We are proud to partner with Heritage Bank on this Finance Scheme as we believe it gives Nigerians who are yarning for quality the opportunity to own the latest GAC vehicles with a soft payment plan.”

She said through independent innovation and excellent quality, GAC Motor has been widely recognized by many as a brand that offers great value at affordable prices to Nigerians.

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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