Business Post Contributor
By Ashemiriogwa Emmanuel
A leading auto dealership in Nigeria, Coscharis Motors, has partnered with Sterling Bank Plc to offer a vehicle finance scheme to allow retail and fleet buyers to purchase their choice vehicles through a repayment plan from the bank.
The partnership has also seen that the auto company lists its vehicles on the bank’s Non-Interest Banking Division platform- AltDrive to equally promote e-commerce transactions.
With this, customers are offered an online retail marketplace where vehicular brands sold by Coscharis Motors can be accessed and purchased either through self-funding or credit finance from Sterling Bank.
The Coscharis Group General Manager, Marketing and Corporate Communications, Mr Abiona Babarinde, while commenting on the idea, said that, “We took this strategic decision earlier in the year to collaborate with relevant stakeholder partners to be able to give our numerous discerning customers and prospects alike the soft landing of owning any of our vehicles with ease in terms of providing friendly financial schemes.”
According to him, the repayment pattern can be expanded for up to five years, of which customers can choose between 15 per cent to 30 per cent initial payment.
He said this is coupled with the bank’s friendly interest rate and ease of accessibility to a plethora of car brands to aid customers’ ultimate satisfaction.
“This ultimately gives anyone the capability to purchase any of our brands with more convenient payment terms with any of our partners like the Sterling Bank.
“We started this initiative with one of our sister companies in the group, Coscharis Mobility, representing sixth in Nigeria amongst some other financial institutions while others are in the pipeline to come on board,” Mr Babarinde added.
