FCMB, Peugeot Deepen Auto Financing

FCMB, Peugeot Deepen Auto Financing

First City Monument Bank (FCMB) Limited and Peugeot Automobile Nigeria (PAN) have launched an auto finance and acquisition scheme. The development is part of efforts to help individuals, (including the self-employed) and employees of organisations, corporate bodies and institutions within the public and private sectors, to become car owners in a convenient way.

Under the scheme, which was unveiled at the weekend in Abuja, qualified customers of FCMB would be able to own a new Peugeot for a 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 ranges (Access, Active, Allure PRS, LXP); the 308 models (Allure Executive and Allure PRS); the 3008 (Active and Active LXP); 4008 and 508 (Active and Access).

At the launch, the Regional Director, Abuja and North, FCMB, Lukman Mustapha, said  the partnership is a value-added consumer loan offering aimed at expanding the scope of vehicle ownership in the country. He said: “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 stated that as an inclusive lender with a strong retail franchise, FCMB is committed to create opportunities for not just its customers, but all segments of the society in line with its values as a simple, reliable and helpful financial institution.

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

Akanmu assured that, “throughout the period of this scheme, our customers, who sign-on will not have to worry about releasing bulk cash to acquire a brand new Peugeot vehicle. With this offering, they will be able to meet other needs at the same time”.

Managing Director/Chief Executive of Peugeot Automobile Nigeria (PAN), Ibrahim Boyi, said 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, provides safety, comfort and fully adapted to Africa’s climate,” he said.

While advising potential beneficiaries of the scheme to live within their means and, “avoid abusing the credit facility, which the Bank will provide to them”. Mr. Boyi expressed optimism that, “many Nigerians will take advantage of this opportunity to become car owners”.




Source: The Nation Nigeria

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