Access Bank, Hyundai launch auto finance scheme

HYUNDAI-DISPALY

Nigerians desiring to own Hyundai automobiles can now buy their choice Hyundai and pay later. This is courtesy of a new finance scheme put in place by Hyundai Motors Nigeria Limited, in collaboration with the Access Bank Group. Initial payment commence after 90 days.

The initiative is meant to enable Nigerians to buy environmentally-friendly Hyundai vehicles instead of used cars otherwise known as Tokunbo.

Victor Etuokwu, Executive Director, Personal Banking, Access Bank Plc said that buying a brand new car shouldn’t be a luxury but a part of  a person’s tool to work efficiently.“We have brought together two of Nigeria’s most powerful brands, Access Bank – a tier one banking group; and Hyundai Motors Nigeria, a member of Stallion Group and a foremost automobile dealerships to give Nigerians an opportunity to own brand new cars at affordable rates via a liberalised process,” he said.

Etuokwu said the auto finance scheme was designed for individual patrons and employees to buy choice Hyundai vehicles without necessarily committing their life-time savings.

He listed other benefits of the scheme, which could also be accessed by fleet operators and institutions as unrestricted admittance to select Hyundai range; discounted pricing with low and fixed interest rate throughout the tenor; waiver of commitment fee; three months moratorium for principal and interest payment; free vehicle registration and free service for one year or 20,000km.

The Access bank director said these significant incentives were intended to encourage patrons to buy functional brand new vehicles such as Korean engineered Hyundai cars and shun importation of Tokunbo vehicles, adding that “the cost of managing used vehicles is far too exorbitant.”

Parvir Singh, managing director, Hyundai Motors Nigeria Limited said that  his company will continue to “invest in new marketing initiatives that can endear Hyundai vehicles to customers and help them drive responsibly, and of course, we are convinced this programme will attract perceptive customers and subsequently raise our market share.”

Singh enjoined customers to take advantage of the initiative. “You can be part of this bonanza by simply walking into any Hyundai Motors Nigeria Limited accredited dealership in Nigeria to get a proforma invoice for your choice car and a deal is struck with Access Bank Plc thereafter,” he said.

By Dike Onwuamaeze

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